JOHCM Global Income Builder Fund

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Fund Description

The JOHCM Global Income Builder Fund is a multi-asset portfolio that aims to provide an attractive and persistent stream of income along with long-term capital growth to preserve purchasing power. As of 1 January 2021, the Fund intends to make distributions to shareholders of 4% of net asset value per annum, with distributions made on a monthly basis.

 
Investment Strategy

The Fund is managed by JOHCM’s New York-based Multi-Asset Value team, which includes Senior Fund Managers Giorgio Caputo, Robert Hordon and Adam Gittes and Fund Manager Remy Gicquel. Giorgio and Robert were most recently employed by First Eagle Investment Management where they partnered to help the firm develop and launch its Global Income Builder strategy, which included the First Eagle Amundi Income Builder Fund. 

In contrast to most top-down approaches to multi-asset investing, this experienced team employs a differentiated bottom-up approach to investing across asset classes. The team follows a 'value' philosophy that focuses first and foremost on the protection and preservation of capital by investing with a margin of safety. The Fund typically holds 30% - 70% in equities, with the balance invested in fixed income, commodities and cash.

  • Giorgio Caputo

    Senior Fund Manager & Head of Multi-Asset Value

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  • Robert Hordon

    Senior Fund Manager

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  • Adam Gittes

    Senior Fund Manager & Head of Credit

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  • Rémy Gicquel

    Fund Manager

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The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

 

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Investment Objective

The objective of the Fund is to offer regular income generation consistent with long termcapital growth. To achieve this objective the Fund will apply an investment process based on fundamental analysis (i.e. a method of evaluating the “intrinsic value” of a security by examining related economic, financial and other qualitative and quantitative factors).

The Fund seeks to achieve its investment objective by applying a bottom-up, long-term global value investing philosophy across a variety of asset classes as further detailed below. In a bottom-up approach, companies and securities are researched and chosen individually rather than on the industry in which that company operates or on the economy as a whole. The Fund will invest in a wide range of equity securities of companies located in multiple countries around the world with a focus on shares which offer an attractive dividend yield (generally two percent or higher). The Fund will invest in a wide range of fixed income instruments securities from markets in multiple countries around theworld such as high-yield instruments debt-securities (commonly referred to as ‘‘junk bonds’’), investment grade instruments debt securities and sovereign debt securities.

Fund details

Data as at 31 May 2022
Fund size GBP 153.22m
Strategy size GBP 217.96m (as at 31 March 2022)
Fund inception date 30 April 2018
Domicile Ireland
Denomination GBP, USD, EUR, SGD
Share classes
A GBP (Launch date) 30-April-2018
A EUR (Launch date) 30-April-2018
A USD (Launch date) 04-April-2019
A SGD (Launch date) 04-April-2019
B EUR (Launch date) 30-April-2018
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 IE00BFZWPC28 BFZWPC2
A EUR IE00BFZWPD35 BFZWPD3
A USD IE00BFZWPF58 BFZWPF5
A SGD IE00BFZWPG65 BFZWPG6
B EUR IE00BFZWPJ96 BFZWPJ9

Fund ratings and awards

Data as at 31 May 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 31/03/2022.

Fees and charges

Initial charge Up to 5%
Annual mgmt charge (A) 0.65%
Annual mgmt charge (B) 1.75%
Performance fee
Trail Commission as at 31 March 2021

Administration

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

The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

 

Strategy Highlights

As at 31 May 2022

Global equity and fixed income markets appeared to stabilise in May, thanks largely to strong ‘risk on’ sentiment in the final week of the month.  US growth continued to underperform US value in May, with the S&P 500 Growth Index returning -1.35% versus 1.63% for the S&P 500 Value Index.  Non-US equities produced mildly positive returns, with the MSCI EAFE Index delivering 0.75% and the MSCI EM Index delivering 0.44%.  For the first time in 2022, the 10-year Treasury yield ended the month at a lower level than where it began, at 2.84% versus 2.93% at the end of April.  With Treasury yields peaking mid-month, we witnessed a stabilisation and recovery in credit markets that appeared correlated with the improvement in sentiment towards equities in the last week of May.  For the month of May, the Bloomberg US Aggregate Bond Index delivered a 0.64% return, following four consecutive months of declines which left the index with a -8.92% year to date total return by the end of May. 

Arguably, the most impactful macroeconomic issue that has confronted investors in 2022 has been inflation and the impact it has had on interest rate expectations.  As the Federal Reserve has signaled a commitment to tightening to combat elevated inflationary pressures, equity and bond prices have suffered alike.  The narrative appeared to switch somewhat in May, however, as concerns about a recession became more acute, with certain macroeconomic indicators, such as housing data, inflecting negatively.  This was compounded by a number of problematic earnings reports, including from Target, whose share price fell approximately 25% on May 18 after guiding down earnings for the year.  In addition to higher labor and logistic costs, Target appeared to have substantially over-estimated customer demand for goods in a number of discretionary categories.  Somewhat paradoxically, signals of broader economic weakness may have contributed to the bounce in risk assets towards the end of the month, as more aggressive Fed tightening may not be necessary to keep a lid on inflation.

Our top contributors for the month were ON Semiconductor, TotalEnergies and AT&T.  ON posted Q1 earnings results that exceeded expectations and raised guidance for the year, against what has become a more cautious backdrop for the semiconductor industry.  TotalEnergies benefited from ongoing strength in oil markets.  Shareholders responded positively to announced plans by AT&T to raise prices for certain mobile phone plans.

Our top detractors for the month were each technology names that participated in that sector’s ongoing underperformance.  Bill.com beat consensus estimates in Q1 yet sold off as buyside expectations appeared to be even loftier.  Two software firms that have been the subject of takeover speculation, Zendesk and Momentiv, sold off in sympathy with sharply reduced valuations across the sector.

While the end of May recovery in both equity and fixed income markets can be seen as providing a sense of optimism that interest rates will not keep rising forever, the inflation debate remains very much unsettled.  Given the high degree of macroeconomic uncertainty that prevails, we believe this is an environment that calls for a diversified multi-asset approach that can sustain a range of different outcomes.  With each investment we make, we are attuned to the sensitivity to macro risk factors but continue to stay anchored to our sense of long-term business value. 

The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

 

KIIDs
(Key Investor Information Documents)

A GBP A EUR A USD A SGD
B EUR B USD B SGD B B-Hedge EUR
xx GBP xx EUR xx Hedge EUR xx Hedge EUR Seed xx Seed GBP
xx Seed EUR xx Seed

 

The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

 

Return history(%)

Data as at 31 May 2022
  • Fund
  • MSCI World NR

Monthly returns (%)

Data as at 31 May 2022
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2018 1.50 0.33 1.49 0.93 -0.36 -1.58 0.76 -3.29 -0.32
MSCI World NR 2018 4.16 0.74 3.79 2.17 0.23 -5.44 1.28 -7.44 -1.13
Fund 2019 2.63 1.00 2.18 3.26 0.83 3.30 4.75 -0.79 0.23 -3.37 1.18 -0.72 15.17
MSCI World NR 2019 4.35 1.87 3.42 3.50 -2.54 5.56 4.46 -1.51 0.93 -2.34 2.82 0.57 22.74
Fund 2020 -0.03 -3.08 -6.29 6.86 2.20 1.18 -2.64 0.62 1.08 -3.39 5.53 -0.74 0.53
MSCI World NR 2020 -0.11 -5.52 -10.62 9.04 6.95 2.70 -1.36 4.57 -3.08 9.23 1.81 12.32
Fund 2021 -0.66 -0.28 4.32 2.20 0.42 1.35 0.08 2.21 0.07 0.33 1.33 2.00 14.10
MSCI World NR 2021 -1.44 0.74 4.71 4.29 -0.82 4.04 1.14 3.54 -2.17 3.94 1.34 1.85 22.94
Fund 2022 -3.17 -1.15 3.34 0.62 0.60 0.11 31.83
MSCI World NR 2022 -4.39 -2.54 4.70 -3.84 -0.31 -6.46 56.75

Source and notes

JOHCM. NAV of Share Class A in GBP, net income reinvested, net of fees. The A GBP Class was launched on 30 April 2018. 

The Fund’s objective is to offer monthly income generation consistent with long-term capital growth. In order to make monthly distributions, all or part of fees and expenses may be charged to the capital of the Fund. By charging the fees and/or expenses to capital, capital may be eroded and income will be achieved by foregoing the potential for future capital growth. The annual management charge is charged to the capital of the Fund.

Disclaimer

Past performance is no guarantee of future performance. The value of investments and the income from them may go down as well as up and you may not get back your original investment. The information contained herein including any expression of opinion is for information purposes only and is given on the understanding that it is not a recommendation.
 

The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

 

Fund statistics

Data as at 31 May 2022
Fund size GBP 153.22m
Number of holdings 124

Top 10 holdings

Data as at 31 May 2022
Equities
MICROSOFT CORP 1.77%
VICI PROPERTIES 1.49%
Alphabet 1.45%
THERMO FISHER SCIENTIFIC 1.44%
TERNA 1.40%
NOVARTIS 1.39%
LINDE (NEW) 1.39%
DOLLAR TREE 1.34%
SAP 1.27%
ORACLE CORP 1.26%
Fixed Income
TripAdvisor 7.0% 15 JUL 25 1.38%
Advantage Sales&Mkting 15NOV28 1.22%
Splunk Inc 1.125% 15 JUN 27 1.03%
American Tower 3.65% 15 MAR 27 1.01%
Digital Realty 3.6% 01 JUL 29 0.98%
UnitedHealth 2.875% 15AUG29 0.98%
Walt Disney 2.0% 01 SEP 29 0.91%
Apple 1.65% 11 MAY 30 0.90%
WESCO Distr 7.25% 15 JUN 28 0.86%
Microsoft 2.921% 17 MAR 52 0.86%

Sector breakdown

Data as at 31 May 2022
Equities
Information Technology 10.77%
Financials 8.02%
Energy 7.88%
Real Estate 7.35%
Communication Services 6.40%
Health Care 6.07%
Materials 5.70%
Consumer Staples 4.57%
Consumer Discretionary 2.94%
Utilities 2.50%
Industrials 1.41%
Fixed income
Communication Services 8.63%
Information Technology 5.07%
Real Estate 3.08%
Financials 2.46%
Industrials 1.79%
Consumer Discretionary 1.63%
Health Care 1.62%
Materials 0.28%
Consumer Staples 0.05%
Energy 0.00%
Sovereign 0.00%
Utilities 0.00%

Regional / Country breakdown

Data as at 31 May 2022
Equities
Equities Portfolio
ss United States 47.82%
ss United Kingdom 6.97%
ss France 6.82%
ss Italy 6.24%
ss Switzerland 5.85%
ss Germany 5.85%
ss Singapore 3.99%
ss Hong Kong 2.16%
ss Spain 2.14%
ss Canada 2.03%
ss Netherlands 1.93%
ss Ireland 1.64%
ss Japan 1.42%
ss South Korea 1.14%
ss Taiwan 1.11%
ss South Africa 1.09%
ss Chile 0.87%
ss Portugal 0.48%
ss Norway 0.46%
Fixed income
Fixed income Portfolio
United States 99.79%
Bermuda 0.21%

The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

 

Fund

As at noon Share class Currency Domicile Sedol number NAV per share Change
JOHCM Asia ex Japan Fund 24/06/2022 A EUR Ireland B431KK7 2.393 0.042
A GBP Ireland B3RQ272 2.431 0.039
A USD Ireland B435PM6 1.869 0.034
B EUR Ireland B5L49R5 2.405 0.042
B GBP Ireland B3ZQS76 2.373 0.038
B USD Ireland BF7NZT0 1.885 0.035
Z GBP Ireland B44PG77 1.732 0.028
Z USD Ireland BVG7681 1.254 0.024
JOHCM Asia ex Japan Small and Mid Cap Fund 24/06/2022 A USD Ireland B6R5QW3 2.350 0.040
A EUR Ireland B6R5VD9 2.524 0.042
A GBP Ireland B6R5LS4 2.876 0.043
B EUR Ireland B6R5HM0 2.866 0.046
B GBP Ireland B6R63P8 2.795 0.041
B USD Ireland B6R5YM9 2.230 0.037
Z GBP Ireland B4X3T62 2.189 0.032
JOHCM Continental European Fund 24/06/2022 A EUR Ireland 3300923 4.012 0.054
A GBP Ireland 3300912 4.928 0.061
A USD Ireland BJ4G0G2 1.577 0.022
A Hedged GBP Ireland BSJCJ49 1.370 0.018
B EUR Ireland 3300901 4.038 0.052
B GBP Ireland 3100543 4.748 0.054
B USD Ireland BJ4G0H3 1.607 0.022
Y EUR Ireland B98YKX9 1.546 0.021
Y GBP Ireland B993PD0 1.814 0.023
Y Hedged GBP Ireland BSJCJ50 1.429 0.019
JOHCM European Concentrated Value Fund 24/06/2022 A EUR Ireland BW0DJY9 0.968 0.009
B EUR Ireland BW0DJZ0 0.962 0.008
Z AUD Ireland BYNJFM8 1.065 0.011
Z EUR Ireland BYNJFN9 0.892 0.007
JOHCM European Select Values Fund 24/06/2022 A EUR Ireland 3290433 3.277 0.008
A GBP Ireland 3290422 5.047 0.006
B EUR Ireland 3290411 2.192 0.005
B GBP Ireland 3290400 4.620 0.005
Non-Distributing EUR Ireland BSFWK51 1.218 0.004
X EUR Ireland B4K14L9 1.566 0.004
Y EUR Ireland BMXC8L3 0.883 0.003
JOHCM Global Emerging Markets Opportunities Fund 24/06/2022 A EUR Ireland B3ZBLW7 1.497 0.012
A GBP Ireland B4002N4 1.364 0.009
A USD Ireland B4M6CN0 1.081 0.010
B EUR Ireland B4TRCR0 1.478 0.011
B GBP Ireland B41RZ57 1.311 0.009
B USD Ireland B4XXMP2 1.414 0.012
Y GBP Ireland BYSGJY4 1.643 0.011
Y USD Ireland BYSGJZ5 1.315 0.013
Z CAD Ireland BBPK0L2 1.474 0.013
Z GBP Ireland B6R54W9 1.719 0.012
JOHCM Global Income Builder Fund 24/06/2022 A EUR Ireland BFZWPD3 1.079 0.003
A GBP Ireland BFZWPC2 1.046 0.000
A SGD Ireland BFZWPG6 0.984 0.002
A USD Ireland BFZWPF5 0.960 0.004
B EUR Ireland BFZWPJ9 1.032 0.003
Seed EUR Ireland BKF2GH9 0.963 0.002
Seed GBP Ireland BFZWPH7 1.101 0.001
Seed GBP Ireland BHR0DJ1 1.127 0.001
JOHCM Global Opportunities Fund (offshore) 24/06/2022 A EUR Ireland B7MR557 2.592 0.011
A GBP Ireland B89PQM5 2.344 0.007
A USD Ireland B89JY23 2.153 0.011
A Hedged EUR Ireland BFZWWX2 1.018 0.005
B EUR Ireland B80FZF0 2.365 0.010
B GBP Ireland BF7NZS9 2.559 0.007
B USD Ireland B8295C7 2.032 0.011
X EUR Ireland BJ5JW42 1.183 0.006
X EUR Ireland BMCZLF8 1.295 0.007
X GBP Ireland BQVC9L0 2.004 0.006
X Hedged GBP Ireland BF29TX5 1.103 0.005
Z EUR Ireland BDZD4M4 1.174 0.005
Z GBP Ireland B83MS15 0.940 0.003
JOHCM Global Opportunities Fund (offshore) 24/06/2022 X Non-distributing NOK NOK Ireland BMFV6C5 10.271 -0.004
JOHCM Global Opportunities Fund (onshore) 24/06/2022 A Accumulating GBP UK BJ5JMC0 1.229 0.003
A Accumulating Hedged GBP UK BKDV8G1 1.092 0.006
A Distributing GBP UK BJ5JMD1 1.156 0.003
X Accumulating GBP UK BJ5JMF3 1.199 0.003
X Distributing GBP UK BJ5JMG4 1.157 0.003
JOHCM Global Select Fund 24/06/2022 A EUR Ireland B3DBRP4 3.848 0.027
A GBP Ireland B3DBRN2 4.095 0.023
A USD Ireland B3T31Z2 2.078 0.017
B EUR Ireland B3DBRM1 3.695 0.026
B GBP Ireland B3DBRL0 3.913 0.022
B USD Ireland B5L7L67 2.350 0.018
Z GBP Ireland B3DCMB8 2.965 0.017
Z USD Ireland B4V7J00 2.352 0.019
JOHCM Uk Dynamic Fund 24/06/2022 Y GBP Ireland BDGKPZ4 0.973 0.011
JOHCM UK Dynamic Fund (onshore) 24/06/2022 A Accumilating GBP UK B4T7HR5 2.760 0.031
A Distributing GBP UK B4T8552 1.868 0.021
B Accumulating GBP UK B4T7JX5 3.048 0.034
B Distributing GBP UK B4TXJ33 1.690 0.019
X Accumulating GBP UK BJ7HNB8 1.078 0.012
X Distributing GBP UK BJ5JMB9 0.976 0.011
Y GBP UK BDZRJ21 1.173 0.013
Y Accumulating GBP UK BDZRJ10 1.594 0.018
JOHCM UK Equity Income Fund 24/06/2022 A Accumulating GBP UK B03KR50 3.985 0.008
A Distributing GBP UK B03KP23 1.794 0.004
B Accumulating GBP UK B03KR83 3.673 0.007
B Distributing GBP UK B03KR61 1.652 0.004
X Distributing GBP UK BYV9S21 0.896 0.002
Y GBP UK B95FCK6 1.212 0.002
Y Accumulating GBP UK B8FCHK5 1.610 0.003
JOHCM UK Growth Fund 24/06/2022 A GBP Ireland 3300934 3.547 0.022
B GBP Ireland 3100554 3.075 0.020
Non-distributing EUR Ireland BLLV8D7 1.943 0.015
Non-distributing USD Ireland BLLV8C6 1.905 0.017
X EUR Ireland BLLV882 1.957 0.016
X EUR Ireland BLLV8B5 1.800 0.012
X GBP Ireland BLLV893 1.769 0.011
X USD Ireland BLLV871 1.918 0.017
JOHCM UK Opportunities Fund 24/06/2022 A Accumulating GBP UK B0LLB64 2.953 0.033
A Distributing GBP UK B3K76Q9 1.890 0.021
B Accumulating GBP UK B0LLB75 2.733 0.030
B Distributing GBP UK B3K76P8 1.774 0.020
X Accumulating GBP UK BQJZQQ5 1.360 0.015
X Distributing GBP UK B95MSF4 1.073 0.012
Y GBP UK B95J5C1 1.274 0.014
Y Accumulating GBP UK B95HP81 1.653 0.018
Regnan Global Equity Impact Solutions Fund (offshore) 24/06/2022 A EUR Ireland BN2BD91 0.829 0.016
A GBP Ireland BN2BD80 0.797 0.014
A USD Ireland BN2BDC4 0.723 0.014
A Hedged EUR Ireland BN2BDB3 0.706 0.014
B EUR Ireland BN2BDF7 0.821 0.017
B GBP Ireland BN2BDD5 0.791 0.014
B USD Ireland BN2BDH9 0.716 0.014
B Hedged EUR Ireland BN2BDG8 0.695 0.014
Seed EUR Ireland BN2BDS0 0.841 0.017
Seed GBP Ireland BN2BDR9 0.808 0.015
Seed USD Ireland BN2BDV3 0.730 0.014
Seed Hedge EUR Ireland BN2BDT1 0.711 0.014
Z GBP Ireland BN2BDN5 0.805 0.014
Regnan Global Equity Impact Solutions Fund (offshore) 24/06/2022 Y CAD CAD Ireland BMWMY49 0.834 0.018
Regnan Global Equity Impact Solutions Fund (onshore) 24/06/2022 A Accumulating GBP UK BMCZDD0 0.940 0.016
F Accumulating GBP UK BMCZDJ6 0.950 0.016
Y Accumulating GBP UK BMCZDK7 0.942 0.016
Regnan Sustainable Water and Waste Fund (offshore) 24/06/2022 A EUR Ireland BLPKC72 0.825 0.008
A USD Ireland BLPKC94 0.771 0.008
A GBP Ireland BLPKC61 0.831 0.007
B GBP Ireland BLPKCB6 0.833 0.007
B USD Ireland BLPKF84 0.773 0.008
B EUR Ireland BLPKCC7 0.827 0.007
Y GBP Ireland BLPKF95 0.832 0.007
Y EUR Ireland BLPKFC8 0.825 0.008
Y USD Ireland BLPKFF1 0.771 0.009
Regnan Sustainable Water and Waste Fund (onshore) 24/06/2022 A Accumulating GBP UK BMYXD32 0.892 0.008
F Accumulating GBP UK BMYXQ55 0.897 0.007
Y Accumulating GBP UK BMYXQ55 0.897 0.007

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class 07/21 08/21 09/21 10/21 11/21 12/21 01/22 02/22 03/22 04/22 05/22 06/22
A  GBP 0.3257 0.3877 0.3516 0.3570 0.3621 0.3848 0.3789 0.3654 0.3251 0.3709 0.3481 0.3848
A EUR 0.3336 0.3978 0.3638 0.3677 0.3601 0.3996 0.4003 0.3863 0.3443 0.3889 0.3655 0.3990
A USD   0.3443 0.3985 0.3651 0.3597 0.3518 0.3821 0.3812 0.3676 0.0349 0.3634 0.3242 0.3611
A SGD  0.3364 0.3965 0.3644 0.3609 0.3506 0.3848 0.3823 0.3665 0.3256 0.3641 0.3321 0.3661
B EUR 0.3229 0.3847 0.3515 0.3546 0.3469 0.3847 0.3850 0.3712 0.3306 0.3731 0.3503 0.3820
Seed 0.2966 0.3538 0.3237 0.3274 0.3207 0.3561 0.3978 0.3838 0.3416 0.3470 0.3262 0.3562

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 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22
A distributing GBP 2.0409 1.5930 1.1154 1.2632 1.0771 1.1681 2.3283 3.0863 1.2881 1.9828
A accumulating GBP 4.1082 3.2391 2.2958 2.6218 2.2581 2.4649 4.9447 6.6368 2.8152 4.3509
B distributing GBP  1.9017 1.4790 1.0379 1.1739 0.9997 1.0825 2.1559 2.8539 1.1897 1.8271
B accumulating GBP 3.8367 3.0210 2.1395 2.4391 2.0980 2.2869 4.5836 6.1431 2.6020 4.0228
Y distributing GBP 1.3744 1.0730 0.7534 0.8514 0.7263 0.7879 1.5709 2.0833 0.8697 0.9894
Y accumulating GBP 1.6547 1.3051 0.9242 1.0570 0.5363 0.9944 1.9953 2.6787 1.1364 1.3383

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 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 28 Feb 2022 pence per share 6.2558
A - accumulating GBP 28 Feb 2022 pence per share 8.9515
B - distributing GBP 28 Feb 2022 pence per share 5.6880
B - accumulating GBP 28 Feb 2022 pence per share 9.9325
Y - distributing GBP 28 Feb 2022 pence per share 3.9239
Y - accumulating GBP 28 Feb 2022 pence per share 5.1639
Y GBP 28 Feb 2022 pence per share 3.2091

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.

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  • Introduction to the JOHCM Global Income Builder Fund

    07 Aug 2018 | 6 mins

  • Giorgio Caputo

    Senior Fund Manager & Head of Multi-Asset Value

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  • Robert Hordon

    Senior Fund Manager

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  • Adam Gittes

    Senior Fund Manager & Head of Credit

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  • Rémy Gicquel

    Fund Manager

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The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

 

Back

Environmental and Social Characteristics

Amongst other characteristics, the Fund promotes environmental and social characteristics and invests in companies that apply good corporate governance.  JOHCM Funds (Ireland) Limited, the Fund’s manager, has therefore categorised the Fund as meeting the provisions set out in Article 8 of EU Regulation 2019/2088 on sustainability-related disclosures in the financial services sector (“SFDR”).  

In addition to investing in issuers which meet the Fund’s financial criteria, J O Hambro Capital Management Limited (“Investment Manager”) seeks investment opportunities in durable businesses that it considers to be well-adapted to the regulatory and social landscape of the future. In the Investment Manager’s view, such businesses are those which do not undermine, if not advance, the achievement of the UN’s Sustainable Development Goals. 

The Fund will also seek to help companies improve on Environmental, Social and Governance (“ESG”) issues and encourage their continuous improvement by engaging in dialogue with them on a regular basis and highlighting specific areas of improvement which will be monitored over time. The team believes this approach will be additive to the fund’s financial objectives of regular income generation and long-term capital growth. 

The Fund is climate aware and seeks to reduce the Fund’s exposure to sectors causing adverse environmental impacts. 

In order to achieve such characteristics within the Fund, it applies exclusions to the selection of underlying assets as part of its investment decision-making process. The issuer of a security is considered “non-sustainable” if it does not meet one of these ESG key performance indicators, including non-compliance with the UN Global Compact. 

The Investment Manager excludes companies which derive 10% or more of their revenue from pornography, manufacture of controversial weapons (such as landmines and cluster munitions) or tobacco production, and companies with majority of revenues from oil sands production. 

Additionally, the Investment Manager relies on ESG scores and its own proprietary dashboard to assess and monitor its investments and seeks to exclude the businesses that it believes to be in the lowest quintile of ESG related risk factors across the fund’s global, all-cap investment universe (a “best-in-universe” approach). This criterion serves as a first filter. The Investment Manager then uses its own internal assessments as well as a third-party provider data in its ESG assessment process which results in a numerical score assigned to each issuer. The ESG scoring criterion will be applied to at least 90% of the issuers in which the Fund is invested. The Investment Manager then further reduces the universe by taking non-financial criteria into consideration before performing a financial analysis and further ESG-related analysis in an integrated fashion, leading to the construction and management of the portfolio. These selection criteria may not be disapplied or overridden by the Investment Manager.  In order to measure and monitor the environmental characteristics of the Fund, the Investment Manager incorporates climate-related ESG risks into valuation and construction. The Investment Manager then monitors the carbon footprint and other climate-related data of the portfolio and keeps track of current high carbon emitters and whether they have committed to align with the 2015 Paris Agreement. 

For the social characteristics of the Fund, the Investment Manager will review whether investee companies have implemented appropriate policies and structures to support sustainable business practices in relation to their employees, customers and supply chain.   

The Investment Manager treats climate change adaptation as a material factor within its investment approach in accordance with the EU’s Taxonomy Regulation (TR) (Regulation (EU) 2020/852) and amending Regulation (EU) 2019/2088. Climate change-related risks and opportunities could impact the long-term sustainability of cashflows, and ultimately returns to investors; the Investment Manager’s commitment to managing climate change adaptation risks and opportunities has been formalised through its investment approach and various responsible investment initiatives. The Investment Manager promotes climate change adaptation in the following way:  

•    A prohibition on investment in companies actively investing capital expenditure in greenfield thermal coal fired-power generation plants or companies whose primary revenue driver is the extraction and/or the production of fossil fuels that have not committed to align with the goals of the Paris Agreement on Climate Change.

•    During the stock selection process, the Investment Manager will actively prefer companies with low GHG emissions intensive business models and/or companies with transitioning and decarbonising business strategies aligned with the long-term temperature goal of the Paris Agreement.

•    Routine measurement is undertaken of the scope 1 and scope 2 GHG emissions of investee companies; GHG intensity of investee companies; capital expenditure invested by investee companies in solutions that contribute towards climate change mitigation; Fund exposure to coal-fired power, natural gas, and renewable energy generation as a percentage of the company’s revenue and adjusted for Fund specific weights; and the percentage of investee companies with net zero targets.

•    Active engagement with investee companies to encourage, for example, the timely decommissioning of coal-fired power generation, the capture and sequestration of carbon emissions or other mitigation efforts, establishment of emissions reduction targets, the transparent pricing of the climate change externality, measures to support a responsible transition, and executive accountability through measures such as variable remuneration. Such engagement also extends to proxy voting activities.

•    Careful review of the climate change risk exposure profile of each potential investee company prior to initiating a position. Assessment of a potential investee company’s capital expenditure investment plans for climate resiliency and adaptation measures. The assessment will be dependent on the level of materiality.

•    Active engagement with companies to encourage, for example, the timely investment in resiliency and adoption measures, the use of climate change science to inform internal risk management and reporting, and appropriate insurance policies.


However, due to a lack of reliable, timely and verifiable data, as the data to conduct the analysis is not yet available from investee companies, the Investment Manager is unable to make a full assessment of the Fund’s investments against the TR’s Technical Screening Criteria (“TSC”).  As such, it has been determined that 0% of the Fund’s investments are in economic activities that qualify as environmentally sustainable under the TR. 

The Investment Manager is keeping this situation under review and will provide an updated statement on the percentage of the Fund’s alignment with the TR’s TSC once sufficient data is available.

The do no significant harm principle only applies to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
 

Governance

Investee companies must follow good governance practices. This requires investee companies to adhere to minimum standards in various areas including sound management structures, employee relations, remuneration of staff and tax compliance. The Investment Manager is a signatory to the UK Stewardship Code 2012. JOHCM has met the expected standard of reporting under the UK Stewardship Code in 2021 and has been approved as a signatory.  As a signatory to the Code and the UNPRI, the good governance practices of investee companies are assessed by the Investment Manager prior to making an investment and periodically thereafter. 

Periodic Reports

A description of the extent to which environmental and social characteristics are met will be available as part of the annual report which will be published on this website once available. The Fund’s most recent annual report does not include any information pursuant to SFDR.  

Implementing exclusionary screens

In implementing the exclusionary screens, the Investment Manager utilises the business involvement screening service offered by its third-party provider, ISS. As such, it relies upon ISS’s business involvement definitions, data and assessments.  Further details are available upon request. 

The exclusion criteria referred to above will be applied prior to making any investment and the Fund’s portfolio will be monitored for any investments which breach these exclusion criteria on a periodic basis.   

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