JOHCM Global Opportunities Fund (onshore)

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Fund Description

The JOHCM Global Opportunities Fund is a high conviction, benchmark-unconstrained stock picking fund that invests in both developed and emerging markets. Fund managers Ben Leyland and Robert Lancastle bring to bear the same successful investment philosophy and process that established the JOHCM UK Opportunities Fund as a leading UK equities fund, focusing on companies that are capable of producing compounding growth over the long term.
Investment Strategy
  • Ben and Robert aim to identify long-term trends and themes and then find undervalued, high quality companies which benefit from these trends and themes
  • The market persistently underestimates the value created by well-managed companies in growth areas reinvesting wisely
  • Returns-based absolute valuation approach avoids momentum and relative valuation pitfalls
  • Strict “sell to zero” discipline: the main risk is holding “bad” shares not missing out on “good” ones
Reasons To Invest
  • Long-term investment horizon
  • Proven success of investment philosophy and process in the form of the JOHCM UK Opportunities Fund, on which Ben Leyland served as a fund manager
  • Portfolio construction unconstrained by artificial index constraints
  • Capacity constrained to preserve long-term performance
An introduction to the JOHCM Global Opportunities Fund
  • Ben Leyland

    Senior Fund Manager

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  • Robert Lancastle

    Senior Fund Manager

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  • Jasmeet Munday

    Analyst

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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.

Investors should note that this strategy may invest in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

The annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. 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.

Other Global Equity Funds

JOHCM Global Opportunities Fund (offshore)

The JOHCM Global Opportunities Fund is a high conviction, benchmark-unconstrained stock picking fund that invests in both developed and emerging markets. Fund managers Ben Leyland and Robert Lancastle bring to bear the same successful investment philosophy and process that established the JOHCM UK Opportunities Fund as a leading UK equities fun

Read More
JOHCM Global Select Fund

Fund managers Christopher Lees and Nudgem Richyal believe stock markets are inefficient and aim to exploit market anomalies via an investment process that combines both top-down and bottom-up research. Their distinct “4-Dimensional” investment process (stocks, sectors, countries, time/change) focuses on the behaviour of each shar...

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Investment Objective

The investment policy of the Fund is to invest in a portfolio of global equity securities listed on any
Recognised Market. The selection of equity securities will primarily be driven by a cashflow analysis from the perspective of a long-term business owner. At no time will less than 80% of the Fund’s total net assets be invested in such securities. The benchmark of the Fund, for performance fee calculation purposes, will be the Index but the Fund will be managed on an ‘unconstrained basis’ with no restrictions in terms of regional or sector allocation versus this benchmark.

Fund details

Data as at 30 September 2020
Fund size GBP 30.18m
Strategy size GBP 3.31bn (as at 30 June 2020)
Benchmark MSCI AC World NR 12pm adjusted
Domicile UK
Denomination GBP
Share classes
A Accumulating GBP (Launch date) 03-May-2019
A Distributing GBP (Launch date) 03-May-2019
A Accumulating Hedge (Launch date) 27-September-2019
Unit type Distribution & Accumulation
Minimum investment
A Accumulating GBP GBP 1,000
A Distributing GBP GBP 1,000
A Accumulating Hedge GBP 1,000
Valuation point Daily (12pm, UK time)
Dealing frequency Daily 9-5pm
Fund codes
ISIN SEDOL
A Accumulating GBP GB00BJ5JMC04 BJ5JMC0
A Distributing GBP GB00BJ5JMD11 BJ5JMD1
A Accumulating Hedge GB00BKDV8G18 BKDV8G1

Fees and charges

Initial charge Up to 5%
Annual mgmt charge (A) 0.90%
Performance fee

No performance fee

Administration

Status UCITS
Investment manager J O Hambro Capital Management Limited
Transfer agent and registrar RBC Investor Services Ireland Limited
Depositary Northern Trust Global Services SE

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.

Investors should note that this strategy may invest in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

The annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. 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.

Strategy Highlights

As at 31 July 2020

As we move through Q2 reporting season, the market remains very much dominated by first-level thinking. Resilience is rewarded by a rise in share price, even if there is precious little growth and even if it was priced in already. Companies seeing significant disruption, even if unsurprising, well-flagged and temporary, are punished with a share price fall.

 

We have stocks in both camps. Companies like Tractor Supply, Sugi Holidngs and KDDI are all executing extremely well, indeed we would characterise their current performance as somewhat unsustainable. Others, such as Unilever and L3Harris, are proving themselves to be very resilient in the face of unprecedented disruption. The question for companies like this is: “what is priced in already?” in other words, “what is it that the market does not recognise which will lead to strong investment returns if I buy at this price?” Many companies in this category, which we monitor but do not currently own, are priced for perfection so we struggle to see the rationale for owning them.

 

In the other camp we do own some companies who are clearly under earning versus any reasonable estimate of their normalised earnings power. Our analysis of their results focuses on two things. First, cash flow and liquidity. We are much more comfortable with companies who remain cash generative even whilst their earnings are supressed. We are very wary of companies who are burning cash, and we would steer clear of companies where cash burn is accompanied by an already levered balance sheet. Obviously such companies are most geared to a change in the Covid-related newsflow, but their downside is too great if normalisation takes a long time or indeed never happens.

 

The second thing we ideally want to see in the investment case of a company in the ‘eye of the storm’ is a structural tailwind and competitive advantage which means that there is some compounding potential in the medium/long term even if we never return to life as we knew it. We want to see more than a simple macro mean-reversion story. As usual we want to find situations which offer asymmetric returns profile.   

 

As seen in recent weeks these stocks carry a higher risk of short-term share price volatility, so we are being careful to cap the collective weight in them to 25%, given that for now they are reasonably correlated. The reason we are prepared to do this is that the valuations on offer in this part of the market to the patient, medium-term investor are more attractive than we have found for a number of years. They are pricing in a very negative scenario and yet have growth opportunities and competitive advantages which are being completely ignored.

 

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.

Investors should note that this strategy may invest in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

The annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. 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.

Fund Reporting

Monthly Portfolio Review

KIIDs
(Key Investor Information Documents)

A Accumulating A Distributing
xx X Accumulating xx X Distributing xx A Accumulating

 

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.

Investors should note that this strategy may invest in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

The annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. 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.

Source and notes

Source: JOHCM/Bloomberg/MSCI Barra.

Data shown net of fees, net income income reinvested. Benchmark: MSCI AC World NR 12pm adjusted. Performance of other share classes may vary and is available on request. 

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. The annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. 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. 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.

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.

Investors should note that this strategy may invest in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

The annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. 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.

Fund statistics

Data as at 30 September 2020
Fund size GBP 30.18m
Number of holdings 38

Top 10 holdings and active weights

Data as at 30 September 2020

Market cap breakdown

Data as at 30 September 2020
Portfolio Benchmark Relative
Large Cap 78.02% 91.55% -13.54%
Medium Cap 12.29% 8.44% 3.85%
Small Cap 0.00% 0.00% 0.00%
Cash 9.69% 0.00% 9.69%

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.

Investors should note that this strategy may invest in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

The annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. 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.

Fund

 As at noon Share class Currency Domicile Sedol number NAV per share Change
JOHCM Asia ex Japan Fund 28/10/2020 A GBP Ireland B3RQ272 2.508 0.033
A USD Ireland B435PM6 2.030 0.009
A EUR Ireland B431KK7 2.334 0.030
B GBP Ireland B3ZQS76 2.473 0.032
B USD Ireland BF7NZT0 2.066 0.010
B EUR Ireland B5L49R5 2.370 0.030
Z GBP Ireland B44PG77 1.783 0.023
Z USD Ireland BVG7681 1.359 0.007
JOHCM Asia ex Japan Small and Mid Cap Fund 28/10/2020 A GBP Ireland B6R5LS4 2.366 0.014
A USD Ireland B6R5QW3 2.035 -0.006
A EUR Ireland B6R5VD9 1.979 0.010
B GBP Ireland B6R63P8 2.322 0.014
B USD Ireland B6R5YM9 1.951 -0.006
B EUR Ireland B6R5HM0 2.251 0.013
Z GBP Ireland B4X3T62 1.788 0.010
JOHCM Continental European Fund 28/10/2020 A GBP Ireland 3300912 4.240 -0.119
A USD Ireland BJ4G0G2 1.262 -0.033
A EUR Ireland 3300923 3.265 -0.092
A Hedged GBP Ireland BSJCJ49 1.102 -0.031
B GBP Ireland 3100543 4.083 -0.115
B USD Ireland BJ4G0H3 1.285 -0.036
B EUR Ireland 3300901 3.283 -0.093
Y GBP Ireland B993PD0 1.562 -0.044
Y EUR Ireland B98YKX9 1.258 -0.036
Y Hedged GBP Ireland BSJCJ50 1.153 -0.032
JOHCM European Concentrated Value Fund 28/10/2020 A EUR Ireland BW0DJY9 0.878 -0.012
B USD Ireland BW0DK13 1.007 -0.022
B EUR Ireland BW0DJZ0 0.871 -0.013
Z AUD Ireland BYNJFM8 1.053 -0.014
Z EUR Ireland BYNJFN9 0.809 -0.012
JOHCM European Select Values Fund 28/10/2020 A GBP Ireland 3290422 4.657 -0.093
A EUR Ireland 3290433 2.859 -0.058
B GBP Ireland 3290400 4.259 -0.085
B EUR Ireland 3290411 1.912 -0.038
Non-Distributing EUR Ireland BSFWK51 1.054 -0.021
X EUR Ireland B4K14L9 1.367 -0.027
JOHCM Global Emerging Markets Opportunities Fund 28/10/2020 A GBP Ireland B4002N4 1.356 0.006
A USD Ireland B4M6CN0 1.132 -0.005
A EUR Ireland B3ZBLW7 1.407 0.006
B GBP Ireland B41RZ57 1.301 0.005
B USD Ireland B4XXMP2 1.477 -0.006
B EUR Ireland B4TRCR0 1.388 0.006
Y GBP Ireland BYSGJY4 1.635 0.007
Y USD Ireland BYSGJZ5 1.378 -0.006
Z GBP Ireland B6R54W9 1.712 0.008
Z CAD Ireland BBPK0L2 1.582 0.006
Z AUD Ireland B5W6ZB6 1.838 0.010
JOHCM Global Income Builder Fund 28/10/2020 GBP Ireland BFZWPH7 1.038 0.000
A SGD Ireland BFZWPG6 0.967 -0.004
A GBP Ireland BFZWPC2 0.993 -0.001
A USD Ireland BFZWPF5 0.959 -0.009
A EUR Ireland BFZWPD3 0.968 0.000
B EUR Ireland BFZWPJ9 0.943 -0.001
EUR EUR Ireland BKF2GH9 0.859 0.000
GBI GBP Ireland BHR0DJ1 0.992 0.000
HEU EUR Ireland BJGW7C3 0.918 -0.009
JOHCM Global Opportunities Fund (offshore) 28/10/2020 A GBP Ireland B89PQM5 1.953 -0.017
A USD Ireland B89JY23 1.889 -0.033
A EUR Ireland B7MR557 2.041 -0.019
B GBP Ireland BF7NZS9 2.159 -0.018
B USD Ireland B8295C7 1.805 -0.031
B EUR Ireland B80FZF0 1.887 -0.016
IHX EUR Ireland BFZWWX2 0.916 -0.016
X EUR Ireland BJ5JW42 0.931 -0.009
X GBP Ireland BK8M212 0.930 -0.008
X GBP Ireland BQVC9L0 1.666 -0.015
X EUR Ireland BMCZLF8 0.975 -0.009
X Hedged GBP Ireland BF29TX5 0.973 -0.017
Z GBP Ireland B83MS15 0.773 -0.007
Z GBP Ireland BD6R4D6 1.438 -0.013
Z EUR Ireland BDZD4M4 0.913 -0.009
JOHCM Global Opportunities Fund (onshore) 28/10/2020 A Accumulating GBP UK BJ5JMC0 0.980 -0.008
A Distributing GBP UK BJ5JMD1 0.965 -0.008
AHA GBP UK BKDV8G1 0.953 -0.016
X Accumulating GBP UK BJ5JMF3 0.951 -0.009
X Distributing GBP UK BJ5JMG4 0.961 -0.008
JOHCM Global Select Fund 28/10/2020 A GBP Ireland B3DBRN2 3.911 0.018
A USD Ireland B3T31Z2 2.088 -0.008
A EUR Ireland B3DBRP4 3.475 0.016
B USD Ireland B5L7L67 2.390 -0.009
B EUR Ireland B3DBRM1 3.373 0.016
B GBP Ireland B3DBRL0 3.782 0.018
Z GBP Ireland B3DCMB8 2.817 0.016
Z USD Ireland B4V7J00 2.353 -0.006
JOHCM Japan Fund 28/10/2020 A GBP Ireland B00X0H5 2.198 -0.002
A EUR Ireland 3438880 1.535 -0.002
A Hedged GBP Ireland B5LD7P6 1.425 -0.016
A JPY JPY Ireland 3438891 286.332 -3.139
B GBP Ireland 3438846 2.141 -0.002
B EUR Ireland 3438857 1.485 -0.002
B Hedged GBP Ireland B6386R1 1.448 -0.016
B JPY JPY Ireland 3438868 282.413 -3.100
JOHCM UK Dynamic Fund 28/10/2020 A Accumulating GBP UK B4T7HR5 1.856 -0.031
A Distributing GBP UK B4T8552 1.334 -0.022
B Accumulating GBP UK B4T7JX5 2.067 -0.034
B Distributing GBP UK B4TXJ33 1.217 -0.020
X Accumulating GBP UK BJ7HNB8 0.723 -0.012
X Distributing GBP UK BJ5JMB9 0.694 -0.012
Y GBP Ireland BDGKPZ4 0.696 -0.011
Y GBP UK BDZRJ21 0.836 -0.014
Y Accumulating GBP UK BDZRJ10 1.070 -0.018
JOHCM UK Equity Income Fund 28/10/2020 A Accumulating GBP UK B03KR50 2.623 -0.056
A Distributing GBP UK B03KP23 1.251 -0.027
B Accumulating GBP UK B03KR83 2.437 -0.053
B Distributing GBP UK B03KR61 1.161 -0.025
X Distributing GBP UK BYV9S21 0.623 -0.013
Y GBP UK B95FCK6 0.844 -0.018
Y Accumulating GBP UK B8FCHK5 1.058 -0.022
JOHCM UK Growth Fund 28/10/2020 A GBP Ireland 3300934 2.854 -0.033
B GBP Ireland 3100554 2.471 -0.029
REU EUR Ireland BLLV8D7 1.452 -0.018
RUD USD Ireland BLLV8C6 1.586 -0.032
X USD Ireland BLLV871 1.588 -0.032
X EUR Ireland BLLV8B5 1.430 -0.017
X EUR Ireland BLLV882 1.455 -0.017
X GBP Ireland BLLV893 1.415 -0.016
JOHCM UK Opportunities Fund 28/10/2020 A Accumulating GBP UK B0LLB64 2.734 -0.046
A Distributing GBP UK B3K76Q9 1.838 -0.031
B Accumulating GBP UK B0LLB75 2.561 -0.043
B Distributing GBP UK B3K76P8 1.746 -0.029
X Accumulating GBP UK BQJZQQ5 1.260 -0.021
X Distributing GBP UK B95MSF4 1.037 -0.017
Y GBP UK B95J5C1 1.235 -0.021
Y Accumulating GBP UK B95HP81 1.525 -0.026

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class 11/19 12/19 01/20 02/20 03/20 04/20 05/20 06/20 07/20 08/20
A  GBP 0.4537 0.4276 0.4668 0.4491 0.4176 0.4276 0.4164 0.4095 0.4554 0.4276
A EUR 0.4650 0.4426 0.4862 0.4680 0.4171 0.4180 0.4202 0.4065 0.4551 0.4180
A USD   0.4384 0.4117 0.4592 0.4372 0.3853 0.4154 0.3897 0.3833 0.4212 0.4154
A SGD  0.4398 0.4164 0.4573 0.4418 0.4079 0.4224 0.4070 0.3970 0.4323 0.4224
B EUR 0.4579 0.4355 0.4775 0.4595 0.4088 0.4083 0.4115 0.3978 0.4351 0.4083
Seed 0.4714 0.0411 0.4859 0.4677 0.3691 0.4464 0.4342 0.4272 0.4752 0.4464

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 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20
A distributing GBP 2.7765 1.9368 2.0957 3.6523 2.7970 2.0409 1.5930 1.1154 1.2632
A accumulating GBP 5.2101 3.6835 4.0293 7.1000 5.5449 4.1082 3.2391 2.2958 2.6218
B distributing GBP  2.6034 1.8139 1.9597 3.4124 2.6093 1.9017 1.4790 1.0379 1.1739
B accumulating GBP 4.8980 3.4588 3.7777 6.6508 5.1861 3.8367 3.0210 2.1395 2.4391
Y distributing GBP 1.8670 1.3028 1.4102 2.4582 1.8832 1.3744 1.0730 0.7534 0.8514
Y accumulating GBP 2.0960 1.4823 1.6220 2.8588 2.2334 1.6547 1.3051 0.9242 1.0570

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 2019 and pay date of 28 February 2020.


JOHCM Asia ex Japan Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 1.8021
A EUR 28 Feb 2020 cents per share 1.7923
A USD 28 Feb 2020 cents per share 1.4855
B GBP 28 Feb 2020 pence per share 0.6266
B EUR 28 Feb 2020 cents per share 0.0638
B USD 28 Feb 2020 cents per share 1.6124

JOHCM Asia ex Japan Small and Mid Cap Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 3.1300
A EUR 28 Feb 2020 cents per share 2.8099
A USD 28 Feb 2020 cents per share 2.7475
B GBP 28 Feb 2020 pence per share 1.8821
B EUR 28 Feb 2020 cents per share 1.9280
B USD 28 Feb 2020 cents per share 1.6124

JOHCM Concentrated Global Share Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2020 pence per share 0.09794

JOHCM Continental European Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 2.4706
A EUR 28 Feb 2020 cents per share 7.4192
A - hedge GBP 28 Feb 2020 pence per share 9.0139
B GBP 28 Feb 2020 pence per share 6.5954
B EUR 28 Feb 2020 cents per share 5.6691
B - hedge USD 28 Feb 2020 cents per share 2.1446
Y GBP 28 Feb 2020 pence per share 3.0314
Y - hedge GBP 28 Feb 2020 pence per share 2.7274
Y EUR 28 Feb 2020 cents per share 3.0314

JOHCM European Select Values Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2020 pence per share 5.9865
A EUR 28 Feb 2020 cents per share 3.9287
B GBP 28 Feb 2020 pence per share 2.9895
B EUR 28 Feb 2020 cents per share 1.4341

JOHCM European Concentrated Value Fund

Share class Currency Pay date Dividend paid in Dividend rate
A EUR 28 Feb 2020 cents per share 1.6278
B USD 28 Feb 2020 cents per share 1.1828
B EUR 28 Feb 2020 cents per share 1.0740

JOHCM Global Emerging Markets Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 3.3106
A EUR 28 Feb 2020 cents per share 3.6734
A USD 28 Feb 2020 cents per share 2.8168
B GBP 28 Feb 2020 pence per share 2.4157
B EUR 28 Feb 2020 cents per share 2.7523
B USD 28 Feb 2020 cents per share 2.7885
Y GBP 28 Feb 2020 pence per share 4.2322
Y USD 28 Feb 2020 cents per share 3.6147

JOHCM Global Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 5.0670
A EUR 28 Feb 2020 cents per share 5.6662
A USD 28 Feb 2020 cents per share 4.9928
B GBP 28 Feb 2020 pence per share 5.6608
B EUR 28 Feb 2020 cents per share 5.2893
B USD 28 Feb 2020 cents per share 4.8215

JOHCM Global Select Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2020 pence per share 2.8206
A EUR 28 Feb 2020 cents per share 2.6793
A USD 28 Feb 2020 cents per share 1.5358
B GBP 28 Feb 2020 pence per share 0.3902
B EUR 28 Feb 2020 cents per share 0.3720
B USD 28 Feb 2020 cents per share 0.2511

JOHCM Japan Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 3.1582
A EUR 28 Feb 2020 cents per share 2.3586
A JPY 28 Feb 2020 yen per share 437.0683
A - hedged GBP 28 Feb 2020 pence per share 2.1461
B GBP 28 Feb 2020 pence per share 1.9398
B EUR 28 Feb 2020 cents per share 1.4400
B JPY 28 Feb 2020 yen per share 271.9972
B - hedged GBP 28 Feb 2020 pence per share 1.3891

JOHCM UK Dynamic Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2020 pence per share 8.3375
A - accumulating GBP 28 Feb 2020 pence per share 1.1143
B - distributing GBP 28 Feb 2020 pence per share 7.6644
B - accumulating GBP 28 Feb 2020 pence per share 1.2491
Y - distributing GBP 28 Feb 2020 pence per share 5.2184
Y - accumulating GBP 28 Feb 2020 pence per share 6.4131
Y GBP 28 Feb 2020 pence per share 4.3172

JOHCM UK Growth Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 7.3614
B GBP 28 Feb 2020 pence per share 5.0086

JOHCM UK Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2020 pence per share 6.4553
A - accumulating GBP 28 Feb 2020 pence per share 9.3148
B - distributing GBP 28 Feb 2020 pence per share 6.1496
B - accumulating GBP 28 Feb 2020 pence per share 8.7487
Y - accumulating GBP 28 Feb 2020 pence per share 1.6547
Y - distributing GBP 28 Feb 2020 pence per share 4.3346

 

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

  • 18 Sep 2019

    Leyland's Look

    Ben Leyland, manager of the JOHCM Global Opportunities fund, on why investors' "fear of missing out" is so dangerous. 

    Read More
  • 20 Sep 2018

    Leylands Global Look

    JOHCM Global Opportunities Fund: Leyland’s Global Look – a time for caution but not capitulation

    Read More

Webcasts & Videos

  • Video Image
    JOHCM Global Opportunities Fund: commitment to capital preservation

    15 Jul 2019 | 5 mins

  • Video Image
    An update to the JOHCM Global Opportunities Fund

    12 Feb 2019 | 18 mins

  • Video Image
    An introduction to the JOHCM Global Opportunities Fund

    31 Jul 2017 | 4 mins

  • Video Image
    JOHCM Global Opportunities Fund - An introduction

    22 Jan 2016 | 4 mins

  • Ben Leyland

    Senior Fund Manager

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  • Robert Lancastle

    Senior Fund Manager

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  • Jasmeet Munday

    Analyst

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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.

Investors should note that this strategy may invest in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

The annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. 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.

Other Global Equity Funds

JOHCM Global Opportunities Fund (offshore)

The JOHCM Global Opportunities Fund is a high conviction, benchmark-unconstrained stock picking fund that invests in both developed and emerging markets. Fund managers Ben Leyland and Robert Lancastle bring to bear the same successful investment philosophy and process that established the JOHCM UK Opportunities Fund as a leading UK equities fun

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JOHCM Global Select Fund

Fund managers Christopher Lees and Nudgem Richyal believe stock markets are inefficient and aim to exploit market anomalies via an investment process that combines both top-down and bottom-up research. Their distinct “4-Dimensional” investment process (stocks, sectors, countries, time/change) focuses on the behaviour of each shar...

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