JOHCM Global Emerging Markets Opportunities Fund

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Fund Description

For fund managers James Syme, Paul Wimborne and Ada Chan, identifying the right countries in which to invest is the most important influence on investment performance. Complementing their top-down view is a stock selection process that focuses on identifying quality growth stocks within their favoured countries. The result is a large-cap biased portfolio of typically 50-60 stocks.

Investment Strategy
  • James, Paul and Ada believe country allocation is the major driver of outperformance in emerging markets
  • Through an exhaustive monthly country allocation process that covers all 20+ countries within the MSCI Emerging Markets Index, the fund managers produce country allocation targets for each country within the index based on a five-factor analysis: Growth, Liquidity, Currency, Management/Politics and Valuation of equity market
  • Complementing their top-down view is a stock selection process that focuses on identifying quality growth stocks trading on attractive valuations within the fund managers’ favoured countries
  • Over time, they expect that top-down and bottom-up decisions will each contribute 50% of total value added
Reasons To Invest
  • Emerging markets are playing an increasingly important role in investors’ asset allocation decisions. They have witnessed dynamic expansion in recent years but should continue to drive global economic growth in the years ahead
  • Established, transparent investment process that has a long-term track record of outperformance
  • Strong emphasis on risk management and a consistent investment style tilt through the market cycle
  • James Syme

    Senior Fund Manager

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  • Paul Wimborne

    Senior Fund Manager

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  • Ada Chan

    Fund Manager

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This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. Investments may include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

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Investment Objective

The JOHCM Global Emerging Markets Opportunities Fund aims to achieve long-term capital appreciation from investing in a portfolio of equity securities of companies in emerging markets around the world.

Fund details

Data as at 31 December 2022
Fund size GBP 203.66m
Strategy size GBP 1.66bn (as at 30 September 2022)
Benchmark MSCI Emerging Markets NR 12pm adjusted
Domicile Ireland
Denomination GBP, EUR, USD
Share classes
A GBP (Launch date) 30-June-2011
A USD (Launch date) 30-June-2011
A EUR (Launch date) 30-June-2011
B GBP (Launch date) 30-June-2011
B USD (Launch date) 30-June-2011
B EUR (Launch date) 30-June-2011
Unit type Distribution
Minimum investment
A GBP 1,000
B GBP 1,000
Valuation point Daily (12pm, UK time)
Dealing frequency Daily 9-5pm
Fund codes
ISIN SEDOL
A GBP IE00B4002N46 B4002N4
A USD IE00B4M6CN00 B4M6CN0
A EUR IE00B3ZBLW75 B3ZBLW7
B GBP IE00B41RZ573 B41RZ57
B USD IE00B4XXMP29 B4XXMP2
B EUR IE00B4TRCR07 B4TRCR0

Fund ratings and awards

Data as at 31 December 2022
Notes

©2022 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Morningstar Overall Ratings and Morningstar Analyst Ratings are as at 30/09/2022.

Fees and charges

Initial charge Up to 5%
Annual mgmt charge (A) 0.90%
Annual mgmt charge (B) 1.50%
Performance fee 15% on excess if Fund outperforms benchmark, calculated daily. Any underperformance carried forward. This fee applies to all share classes.

Administration

Status UCITS
Investment manager J O Hambro Capital Management Limited
Transfer agent and registrar RBC Investor Services Limited
Depositary RBC Investor Services Limited

This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. Investments may include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Strategy Highlights

As at 31 December 2022

Emerging market economies and the emerging market equity asset class depend on external capital flows. Economies more driven by domestic demand require capital inflows to finance current account deficits, while the economies with stronger export bases tend to have significant exposure to demand from emerging markets (eg Korean car companies sales in India) as well as having a dependency on foreign financing of corporate investment.

When we talk about capital flows, we mean US dollar capital flows. Mark Carney, then Governor of the Bank of England, summarised this well in 2019, noting that the dollar represents the currency of choice for at least half of international trade invoices (around five times greater than the US’s share in world goods imports and three times its share in world exports). He went on, “given the widespread dominance of the dollar in cross border claims, it is not surprising that developments in the US economy, by affecting the dollar exchange rate, can have large spillover effects to the rest of the world via asset markets… the global financial cycle is a dollar cycle.”

Looking beyond that fact, it is interesting to consider which types of emerging market do best. We believe that investors can think of emerging markets as existing on a spectrum from high-savings rate/current account surplus/net saver export economies (Korea, Taiwan, the Gulf States) through to low-savings rate, current account deficit and net borrower economies with more of a dependence on domestic demand (South Africa, India, Turkey, Brazil, Egypt). As this is a spectrum, there is a group of countries with some characteristics of both ends, such as Indonesia, Malaysia and Chile. There are also country-specific conditions that change a country’s characteristics (Mexico’s large remittances from overseas citizens offset the tendency to run a current account deficit.

In the above analysis, Latin American markets have tended to perform especially well in weak US Dollar environments, but it is important to focus more on characteristics than individual markets. In this period, the key characteristics of Latin America have been weak domestic savings and current account deficits, which create the outsize sensitivity to capital flows. Historically, markets with these features have tended to be weak-dollar winners and strong-dollar losers, but these are not fixed identities. For example, Thailand and South Korea ran current-account deficits in the 1990s when they collapsed into crisis with a strong dollar, but now both run large surpluses and are net savers.

Where are we now? The US dollar has been significantly weak in the last two months, suggesting a peak was reached in October 2022. To be clear, there have been previous short-term peaks and troughs in the dollar during broad upswings and downswings (for example, in March 2020 during the initial onset of COVID-19, after which the dollar weakened but remained in its uptrend). But, if the dollar has topped out (at a level similar to the top in 2002), and 2023 and beyond are to be weak-dollar years, then investors need to bear in mind the highly-positive implications for EM equity and for the more capital-sensitive markets within that asset class.

This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. Investments may include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Fund Reporting

Factsheet
Factsheet
Factsheet
Monthly Portfolio Review
Monthly Portfolio Review
Monthly Portfolio Review

This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. Investments may include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Percentage growth of the fund versus benchmark

Data as at 31 December 2022
A GBP share class, since launch (30 June 2011)

Return history (%)

Data as at 31 December 2022

Standardised Performance

Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. You should not base your decision to invest on this document. The Funds investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile. 
 


Dec 17 - Dec 18 Dec 18 - Dec 19 Dec 19 - Dec 20 Dec 20 - Dec 21 Dec 21 - Dec 22
Fund -9.82% 11.48% 12.47% 2.99% -5.36%

Monthly returns (%)

Data as at 31 December 2022
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2011 -2.90 -7.42 -9.23 10.91 -6.08 -15.00
Benchmark 2011 -2.13 -9.44 -10.12 10.93 -6.42 1.36 -16.19
Fund 2012 6.82 6.17 -5.29 -2.08 -8.95 -0.61 4.08 -0.36 4.65 -0.46 0.92 1.47 5.29
Benchmark 2012 9.39 5.02 -3.98 -2.73 -6.86 1.97 3.27 -2.02 3.95 1.59 4.03 13.27
Fund 2013 4.31 2.79 -1.85 -1.44 2.58 -8.64 2.04 -3.17 2.30 6.16 -1.00 -1.13 2.10
Benchmark 2013 3.65 2.67 -1.74 -1.74 -0.28 -6.87 1.83 -3.88 2.63 5.52 -3.62 -2.35 -4.79
Fund 2014 -6.05 2.81 0.24 -1.07 6.71 -0.22 3.04 2.40 -4.37 3.79 2.47 -2.94 6.23
Benchmark 2014 -6.61 2.57 2.75 -0.26 4.71 0.16 3.45 3.37 -4.88 2.10 1.26 -4.19 3.74
Fund 2015 7.69 -0.91 3.27 4.35 -1.80 -7.05 -6.65 -7.12 -1.44 8.26 -0.22 -1.35 -4.41
Benchmark 2015 4.33 0.32 2.70 3.75 -2.70 -6.20 -6.29 -7.65 -1.87 6.41 -1.32 -1.49 -10.61
Fund 2016 -6.50 2.32 7.63 -2.44 -1.25 12.99 8.34 3.76 2.90 3.61 -6.62 0.73 26.34
Benchmark 2016 -3.99 3.64 9.36 -0.88 -3.35 11.91 7.43 3.58 2.27 6.62 -6.72 1.52 34.03
Fund 2017 5.27 2.78 3.63 -1.47 4.72 0.55 3.93 3.48 -3.36 6.28 -2.14 1.96 28.23
Benchmark 2017 4.22 3.46 2.40 -1.85 4.13 -0.50 4.79 4.08 -4.26 4.96 -1.09 2.82 25.15
Fund 2018 -1.17 -2.48 -3.37 3.95 0.97 -1.40 1.42 -1.11 -1.42 -6.05 4.51 -3.62 -9.82
Benchmark 2018 3.20 -2.08 -4.01 2.49 -0.63 -3.22 2.43 -1.84 -0.65 -7.08 4.71 -2.67 -9.57
Fund 2019 3.84 -1.17 5.23 1.13 -1.34 4.98 1.80 -3.95 1.10 -3.27 -1.05 4.18 11.48
Benchmark 2019 5.45 -0.49 1.60 3.28 -4.44 5.72 3.08 -5.33 1.12 -0.91 0.31 4.90 14.44
Fund 2020 -2.10 -3.81 -14.12 11.27 0.83 7.65 -0.46 0.31 2.14 0.37 6.35 5.76 12.47
Benchmark 2020 -3.77 -3.70 -12.29 8.99 1.23 8.44 1.77 2.21 -0.28 2.15 6.49 4.44 14.60
Fund 2021 1.11 0.93 1.58 0.32 0.97 2.17 -5.13 1.45 -1.89 -1.72 -0.13 3.58 2.99
Benchmark 2021 3.10 -1.33 -0.52 1.88 -1.34 3.87 -7.21 3.48 -1.51 -1.07 -1.01 0.72 -1.43
Fund 2022 -0.38 -4.53 -0.21 -0.42 1.97 -4.27 0.43 4.80 -3.56 -4.33 6.23 -0.56 -5.36
Benchmark 2022 -1.90 -2.44 -0.10 -1.42 -0.04 -2.55 -1.01 5.37 -7.64 -7.13 10.29 -1.00 -10.29

Source and notes

JOHCM/MSCI/Bloomberg/Lipper.

Data shown net of fees, net income reinvested. Performance of other share classes may vary and is available on request. Please note that all fund performance is shown against the MSCI Emerging Markets NR 12pm adjusted in GBP. Performance of other share classes may vary and is available on request. Where shown, monthly returns table shows compounded discrete monthly performance.

Disclaimer

Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. You should not base your decision to invest on this document. The Funds investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile. 
 

This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. Investments may include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Fund statistics

Data as at 31 December 2022
Fund size GBP 203.66m
Number of holdings 50

Top 10 holdings and active weights

Data as at 31 December 2022
Top 10 holdings
Tencent 7.65%
HKEx 4.51%
Samsung Electronics 4.33%
HDFC Bank 3.93%
State Bank of India 3.75%
Mahindra & Mahindra 3.23%
Larsen & Toubro 3.16%
Anhui Conch Cement 3.09%
Emaar Properties 2.98%
Barrick Gold 2.95%
Top 10 active weights
HKEx +4.51%
HDFC Bank +3.93%
State Bank of India +3.54%
Tencent +3.42%
Mahindra & Mahindra +3.03%
Anhui Conch Cement +3.02%
Barrick Gold +2.95%
Larsen & Toubro +2.89%
Emaar Properties +2.88%
TSINGTAO BREWERY H +2.85%

Sector breakdown

Data as at 31 December 2022
Portfolio Benchmark Relative
Financials 27.02% 22.10% 4.92%
Consumer Discretionary 11.81% 14.07% -2.26%
Materials 11.77% 8.85% 2.92%
Consumer Staples 10.98% 6.44% 4.53%
Information Technology 10.35% 18.63% -8.28%
Communication Services 8.18% 9.91% -1.73%
Real Estate 5.70% 1.94% 3.76%
Industrials 5.06% 6.06% -0.99%
Energy 4.17% 4.88% -0.71%
Utilities 2.73% 3.03% -0.30%
Health Care 0.00% 4.07% -4.07%
Cash 2.23% 0.00% 2.23%

Market cap breakdown

Data as at 31 December 2022
Portfolio Benchmark Relative
Large Cap 74.38% 75.00% -0.62%
Medium Cap 22.08% 24.99% -2.91%
Small Cap 1.47% 0.01% 1.46%
Cash 2.07% 0.00% 2.07%

This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. Investments may include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Fund Group

Fund

 As at noon Share class Currency Domicile ISIN number NAV per share Change   KIID
Emerging Markets Equities JOHCM Global Emerging Markets Opportunities Fund 02/02/2023 A EUR EUR Ireland IE00B3ZBLW75 1.515 -0.012
Emerging Markets Equities JOHCM Global Emerging Markets Opportunities Fund 02/02/2023 A GBP GBP Ireland IE00B4002N46 1.436 -0.002
Emerging Markets Equities JOHCM Global Emerging Markets Opportunities Fund 02/02/2023 A USD USD Ireland IE00B4M6CN00 1.142 -0.002
Emerging Markets Equities JOHCM Global Emerging Markets Opportunities Fund 02/02/2023 B EUR EUR Ireland IE00B4TRCR07 1.499 -0.012
Emerging Markets Equities JOHCM Global Emerging Markets Opportunities Fund 02/02/2023 B GBP GBP Ireland IE00B41RZ573 1.384 -0.002
Emerging Markets Equities JOHCM Global Emerging Markets Opportunities Fund 02/02/2023 B USD USD Ireland IE00B4XXMP29 1.496 -0.002
Emerging Markets Equities JOHCM Global Emerging Markets Opportunities Fund 02/02/2023 Y GBP GBP Ireland IE00BYSGJY42 1.730 -0.003
Emerging Markets Equities JOHCM Global Emerging Markets Opportunities Fund 02/02/2023 Y USD USD Ireland IE00BYSGJZ58 1.389 -0.001
Emerging Markets Equities JOHCM Global Emerging Markets Opportunities Fund Z - Class AUD Ireland IE00B5W6ZB60
Emerging Markets Equities JOHCM Global Emerging Markets Opportunities Fund 02/02/2023 Z - Class CAD CAD Ireland IE00BBPK0L23 1.588 -0.008
Emerging Markets Equities JOHCM Global Emerging Markets Opportunities Fund 02/02/2023 Z - Class GBP GBP Ireland IE00B6R54W91 1.804 -0.003

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class 04/22 05/22 06/22 07/22 08/22 09/22 10/22 11/22 12/22 01/23
A  GBP 0.3709 0.3481 0.3848 0.3507 0.3439 0.3982 0.3509 0.3193 0.3826 0.3437
A EUR 0.3889 0.3655 0.3990 0.3571 0.3622 0.4055 0.3547 0.3277 0.3935 0.3438
A USD   0.3634 0.3242 0.3611 0.3151 0.3128 0.3431 0.2930 0.2750 0.3469 N/A
A SGD  0.3641 0.3321 0.3661 0.3248 0.3189 0.3548 0.3107 0.2865 0.3482 0.3040
B EUR 0.3731 0.3503 0.3820 0.3416 0.3462 0.3872 0.3385 0.3124 0.3748 0.3272
Seed GBP 0.3470 0.3262 0.3562 0.3189 0.3619 0.4193 0.3695 0.3364 0.4031 0.3623

Net dividends quoted in the local share class currency.

If you require the dividends for previous time periods, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled).

Funds paying quarterly dividends

JOHCM UK Equity Income Fund

Share class Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22
A distributing GBP 1.1154 1.2632 1.0771 1.1681 2.3283 3.0863 1.2881 1.9828 3.4453 3.1410
A accumulating GBP 2.2958 2.6218 2.2581 2.4649 4.9447 6.6368 2.8152 4.3509 7.6541 7.1149
B distributing GBP  1.0379 1.1739 0.9997 1.0825 2.1559 2.8539 1.1897 1.8271 3.1746 2.8895
B accumulating GBP 2.1395 2.4391 2.0980 2.2869 4.5836 6.1431 2.6020 4.0228 7.0604 6.5526
Y distributing GBP 0.7534 0.8514 0.7263 0.7879 1.5709 2.0833 0.8697 1.3383 2.3274 2.1211
Y accumulating GBP 0.9242 1.0570 0.5363 0.9944 1.9953 2.6787 1.1364 1.7602 3.0924 2.8757

Dividends are quoted and paid in pence per share

XD dates: 31 March, 30 June, 30 September and 31 December
Payment dates: 31 May, 31 August, 30 November and 28 February

The quarterly table above shows the last two years net dividends (on a XD rather than a paid basis) for this fund. If you require the dividends for previous time periods, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled).

Funds paying semi-annual dividends

All funds have a XD date of 1 July 2022 and pay date of 31 August 2022.

JOHCM UK Dynamic Fund

Share class Currency Pay date Dividend paid in  Dividend rate
Y GBP 31 Aug 2022 pence per share 2.1779

Funds paying annual dividends

All funds have a XD date of 31 December 2021 and pay date of 28 February 2022.


JOHCM Asia ex Japan Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 0.0000
A EUR 28 Feb 2022 cents per share 0.0000
A USD 28 Feb 2022 cents per share 0.0000
B GBP 28 Feb 2022 pence per share 0.0000
B EUR 28 Feb 2022 cents per share 0.0000
B USD 28 Feb 2022 cents per share 0.0000
Z GBP 28 Feb 2022 cents per share 1.2717
Z USD 28 Feb 2022 cents per share 1.0094

JOHCM Asia ex Japan Small and Mid Cap Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 0.0000
A EUR 28 Feb 2022 cents per share 0.0000
A USD 28 Feb 2022 cents per share 0.0000
B GBP 28 Feb 2022 pence per share 0.0000
B EUR 28 Feb 2022 cents per share 0.0000
B USD 28 Feb 2022 cents per share 0.0000
Z GBP 28 Feb 2022 cents per share 0.0000

JOHCM Concentrated Global Share Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2022 pence per share 0.0000

JOHCM Continental European Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 8.6863
A EUR 28 Feb 2022 cents per share 7.2518
A - hedge GBP 28 Feb 2022 pence per share 2.3783
B GBP 28 Feb 2022 pence per share 5.7899
B EUR 28 Feb 2022 cents per share 5.0477
B - hedge USD 28 Feb 2022 cents per share 1.8425
Y GBP 28 Feb 2022 pence per share 3.4475
Y - hedge GBP 28 Feb 2022 pence per share 2.6955
Y EUR 28 Feb 2022 cents per share 3.0103

JOHCM European Select Values Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2022 pence per share 3.4279
A EUR 28 Feb 2022 cents per share 2.2816
B GBP 28 Feb 2022 pence per share 0.4023
B EUR 28 Feb 2021 cents per share 0.1956
Y EUR 28 Feb 2022 cents per share 0.6184

JOHCM European Concentrated Value Fund

Share class Currency Pay date Dividend paid in Dividend rate
A EUR 28 Feb 2022 cents per share 0.8126
B EUR 28 Feb 2022 cents per share 0.3158
Z EUR 28 Feb 2022 cents per share 1.5455

JOHCM Global Emerging Markets Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 2.8311
A EUR 28 Feb 2022 cents per share 3.1858
A USD 28 Feb 2022 cents per share 2.4633
B GBP 28 Feb 2022 pence per share 1.8347
B EUR 28 Feb 2022 cents per share 2.1208
B USD 28 Feb 2022 cents per share 2.1654
Y GBP 28 Feb 2022 pence per share 3.6898
Y USD 28 Feb 2022 cents per share 3.1258
Z GBP 28 Feb 2022 cents per share 5.3164

JOHCM Global Opportunities Fund (onshore)

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 2.5871
A EUR 28 Feb 2022 cents per share 5.0441
A USD 28 Feb 2022 cents per share 4.8886
B EUR 28 Feb 2022 cents per share 4.6750
B USD 28 Feb 2022 cents per share 4.6865
A - hedged GBP 28 Feb 2022 pence per share 2.6653
A - hedged EUR 28 Feb 2022 cents per share 2.2077
X GBP 28 Feb 2022 cents per share 2.4784
X EUR 28 Feb 2022 cents per share 2.2293

JOHCM Global Opportunities Fund (offshore)

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 4.5789
A EUR 28 Feb 2022 cents per share 5.1902
A USD 28 Feb 2022 cents per share 4.6148
B GBP 28 Feb 2022 pence per share 5.0376
B EUR 28 Feb 2022 cents per share 4.7737
B USD 28 Feb 2022 cents per share 4.3909
A - hedged EUR 28 Feb 2022 cents per share 2.3372
X GBP 28 Feb 2022 cents per share 3.9139
Z GBP 28 Feb 2022 cents per share 1.8229
X - hedged GBP 28 Feb 2022 cents per share 2.4327
X EUR 28 Feb 2022 cents per share 2.3658

JOHCM Global Select Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2022 pence per share 0.0000
A EUR 28 Feb 2022 cents per share 0.0000
A USD 28 Feb 2022 cents per share 0.0000
B GBP 28 Feb 2022 pence per share 0.0000
B EUR 28 Feb 2022 cents per share 0.0000
B USD 28 Feb 2022 cents per share 0.0000
Z GBP 28 Feb 2022 pence per share 2.9482
Z USD 28 Feb 2022 cents per share 2.5658


JOHCM UK Dynamic Fund

Please note that with effect from 1 January 2022, this fund will make semi-annual distributions.

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 30 June 2022 pence per share 4.2307
A - accumulating GBP 30 June 2022 pence per share 6.2512
B - distributing GBP 30 June 2022 pence per share 3.8318
B - accumulating GBP 30 June 2022 pence per share 6.9098
Y - distributing GBP 30 June 2022 pence per share 2.6563
Y - accumulating GBP 30 June 2022 pence per share 3.6096

JOHCM UK Growth Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 5.8783
B GBP 28 Feb 2022 pence per share 3.1115
X GBP 28 Feb 2022 pence per share 3.1342

JOHCM UK Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2022 pence per share 5.5257
A - accumulating GBP 28 Feb 2022 pence per share 8.4140
B - distributing GBP 28 Feb 2022 pence per share 5.2121
B - accumulating GBP 28 Feb 2022 pence per share 7.8256
Y - accumulating GBP 28 Feb 2022 pence per share 3.7193
Y - distributing GBP 28 Feb 2022 pence per share 4.7060

 

Net dividends quoted in the local share class currency.

If you would like more information, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled). Email us at oeicdealing@johcm.co.uk.

Views & News

  • 13 Jan 2023

    Strong dollar, weak dollar

    Emerging markets are dependent on global fund flows, and the currency that flows the most is the dollar

    Read More
  • 12 Dec 2022

    Emerging Markets Spotlight

    No one doubts the exceptional success of the South Korean economy, home to world-leading companies. But for now, it’s still an emerging market

    Read More
  • 11 Nov 2022

    Why We Like Brazil

    Inflation under control, positive economic growth, valuations at half their long-term

    Read More
  • 03 Nov 2022

    China’s Political Disorder

    Given four good reasons to be cautious on China, and only one positive, the walk back to a turn in the equity market may be long one

    Read More
  • 08 Oct 2022

    Expect the Unexpected

    In 2022, the impact of the strong dollar has been very different to what history suggests

    Read More
  • 06 Sep 2022

    Emerging Markets Spotlight

    Rejection of a left-wing constitution reduces risk for equity investors in Chile, but economic problems remain an obstacle

    Read More
  • 10 Aug 2022

    Emerging Markets Spotlight

    Energy exporters, or those with relative energy stability, show signs of prospering 

    Read More
  • 05 Jul 2022

    Emerging Markets Spotlight

    The good news from China ... and the bad

    Read More
  • 18 Jun 2022

    Emerging Markets Spotlight

    Inflation is not all bad news in emerging markets

    Read More
  • 13 May 2022

    Emerging Markets Spotlight

    Floating exchange rates are likely to limit the impact of rising US rates on emerging markets

    Read More
  • 11 Apr 2022

    Emerging Markets Spotlight

    Rising commodity prices will have a powerful impact on emerging markets, for exporters and for those that import and subsidise the 'Three Fs', food, fuel and fertiliser

    Read More
  • 09 Mar 2022

    Emerging Markets Spotlight

    James Syme and the Emerging Markets Opportunities team look at the new chapter Russia is writing in emerging equity markets

    Read More

Webcasts & Videos

  • Video Image
    JOHCM Global Emerging Markets Opportunities Fund Q4 2021 Update

    24 Jan 2022 | 21 mins

  • Video Image
    JOHCM Global Emerging Markets Opportunities Fund Q3 2021 Update

    26 Oct 2021 | 20 mins

  • Video Image
    JOHCM Global Emerging Markets Opportunities Fund Q3 2021 Update

    26 Oct 2021 | 20 mins

  • Video Image
    JOHCM Global Emerging Markets Opportunities Fund Q2 2021 Update

    15 Jul 2021 | 21 mins

  • James Syme

    Senior Fund Manager

    small image path
  • Paul Wimborne

    Senior Fund Manager

    small image path
  • Ada Chan

    Fund Manager

    small image path

This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. Investments may include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

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