Nudgem Richyal
Senior Fund Manager
The Fund is managed in accordance with Shariah principles and invests in a concentrated portfolio of Shariah compliant global equity securities. Fund managers Nudgem Richyal and Christopher Lees 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 share price to determine whether the most important driver of each prospective investment is stock specific, sector or country-based. The Fund invests in both developed and emerging markets, with the fund managers frequently drawing upon the stocks ideas generated by our regional equity teams.
Senior Fund Manager
The information provided on this webpage is for professional advisers only. The Fund follows formal Shariah Investment Guidelines which have been reviewed by a recognised Sharia Adviser. The Guidelines are used to identify a list of compliant stocks which will comprise the Fund’s investible universe. The Fund makes no guarantee on the accuracy, quality or reliability of the determinations made by the Shariah Adviser. Shariah principles are subject to interpretation and there may not be consensus between different Shariah experts. If it is determined that an investment is no longer Shariah compliant, the Fund will be required to divest and this may incur a loss.
For any company in which the Fund holds an investment, there may be an element of income that the company derives from activities that do not comply with Shariah principles, that is, from “Non-Permissible Income”. Non-permissible income will form part of the property of the Fund and will be distributed to shareholders through any dividends paid. Shareholders will be responsible for the purification of their pro-rated portion of the non-permissible income.
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 MoreFund 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...
Read MoreThe 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 ...
Read MoreThe JOHCM Global Select Shariah Fund aims to achieve its objective by investing in a portfolio of Shariah compliant global equity securities listed on any Recognised Market. Under normal market environments it is the intention to be near-fully invested, and at no time will less than 80% of the Fund’s total net assets be invested in such securities. The benchmark of the Fund is the MSCI ACWI Islamic 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 size | GBP 17.56m |
---|---|
Strategy size | GBP 16.29m (as at 31 December 2023) |
Benchmark | MSCI ACWI Islamic NR 12pm adjusted |
Domicile | Ireland |
Denomination | USD |
Share classes | |
Unit type | Distribution |
Valuation point | Daily (12pm, UK time) |
Dealing frequency | Daily 9-5pm |
Initial charge | up to 5% |
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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 Fund follows formal Shariah Investment Guidelines which have been reviewed by a recognised Sharia Adviser. The Guidelines are used to identify a list of compliant stocks which will comprise the Fund’s investible universe. The Fund makes no guarantee on the accuracy, quality or reliability of the determinations made by the Shariah Adviser. Shariah principles are subject to interpretation and there may not be consensus between different Shariah experts. If it is determined that an investment is no longer Shariah compliant, the Fund will be required to divest and this may incur a loss.
For any company in which the Fund holds an investment, there may be an element of income that the company derives from activities that do not comply with Shariah principles, that is, from “Non-Permissible Income”. Non-permissible income will form part of the property of the Fund and will be distributed to shareholders through any dividends paid. Shareholders will be responsible for the purification of their pro-rated portion of the non-permissible income.
The behaviour of global financial markets in July reminds us of the axiom ‘never short a dull market’.
The market moved more favourably for our portfolio during the month, as yields seem to have topped out, temporarily at least. With this pause in yields, growth as a style had a better month than value.
A strong July tends to accompany an up-year in markets, with the caveat that a strong July also increases the odds of a correction in the next five months. Other good ‘data mining’ news includes the fact that we observed three days of +1% gains in the S&P 500 following a 75 basis point rise in the Fed Funds target rate on 27 July. Eighty percent of the time the market is up in three to six months’ time in such cases. This bullish observation only goes back to 2002 and may not hold due to the small sample size.
Unfortunately, we managed to lag the bounce In July. However, we believe the changes that we have made to the portfolio and the evolution of market behaviour should continue to help our performance. Investors might bear in mind that the third quarter of the year is usually the weakest of any year. This year is likely to be especially volatile given the US mid-term elections in November.
The energy and electricity situation in Europe continues to deteriorate. Much of the pressure is self-inflicted and revolves around the misunderstanding that transitions take time. European policymakers want to wish themselves a cleaner and greener energy base ignoring the time, effort, money and potential hit on the consumer this involves. There is a non-negligible risk that the aggregate GHG emissions and carbon footprints of our benchmark actually worsen in the next few quarters as European firms switch from gas to diesel or coal. Why don’t they switch on nuclear? Sadly, the water levels are too low to help cool the nuclear reactors that are currently in operation let alone those that have been idled. The low water levels are a problem for barge transport which complicates the shift to coal.
The information provided on this webpage is for professional advisers only. The Fund follows formal Shariah Investment Guidelines which have been reviewed by a recognised Sharia Adviser. The Guidelines are used to identify a list of compliant stocks which will comprise the Fund’s investible universe. The Fund makes no guarantee on the accuracy, quality or reliability of the determinations made by the Shariah Adviser. Shariah principles are subject to interpretation and there may not be consensus between different Shariah experts. If it is determined that an investment is no longer Shariah compliant, the Fund will be required to divest and this may incur a loss.
For any company in which the Fund holds an investment, there may be an element of income that the company derives from activities that do not comply with Shariah principles, that is, from “Non-Permissible Income”. Non-permissible income will form part of the property of the Fund and will be distributed to shareholders through any dividends paid. Shareholders will be responsible for the purification of their pro-rated portion of the non-permissible income.
The information provided on this webpage is for professional advisers only. The Fund follows formal Shariah Investment Guidelines which have been reviewed by a recognised Sharia Adviser. The Guidelines are used to identify a list of compliant stocks which will comprise the Fund’s investible universe. The Fund makes no guarantee on the accuracy, quality or reliability of the determinations made by the Shariah Adviser. Shariah principles are subject to interpretation and there may not be consensus between different Shariah experts. If it is determined that an investment is no longer Shariah compliant, the Fund will be required to divest and this may incur a loss.
For any company in which the Fund holds an investment, there may be an element of income that the company derives from activities that do not comply with Shariah principles, that is, from “Non-Permissible Income”. Non-permissible income will form part of the property of the Fund and will be distributed to shareholders through any dividends paid. Shareholders will be responsible for the purification of their pro-rated portion of the non-permissible income.
The information provided on this webpage is for professional advisers only. The Fund follows formal Shariah Investment Guidelines which have been reviewed by a recognised Sharia Adviser. The Guidelines are used to identify a list of compliant stocks which will comprise the Fund’s investible universe. The Fund makes no guarantee on the accuracy, quality or reliability of the determinations made by the Shariah Adviser. Shariah principles are subject to interpretation and there may not be consensus between different Shariah experts. If it is determined that an investment is no longer Shariah compliant, the Fund will be required to divest and this may incur a loss.
For any company in which the Fund holds an investment, there may be an element of income that the company derives from activities that do not comply with Shariah principles, that is, from “Non-Permissible Income”. Non-permissible income will form part of the property of the Fund and will be distributed to shareholders through any dividends paid. Shareholders will be responsible for the purification of their pro-rated portion of the non-permissible income.
Fund size | GBP 17.56m |
---|---|
Number of holdings | 43 |
Microsoft | 4.80% |
Alphabet | 2.54% |
Hitachi | 2.53% |
SWCC CORPORATION | 2.50% |
AstraZeneca | 2.41% |
CAPSTONE COPPER | 2.41% |
SHOCKWAVE MEDICAL | 2.41% |
Alcon | 2.39% |
SK Hynix | 2.38% |
BROADCOM | 2.33% |
Alphabet | +2.54% |
SWCC CORPORATION | +2.50% |
CAPSTONE COPPER | +2.41% |
SHOCKWAVE MEDICAL | +2.41% |
SK Hynix | +2.38% |
BROADCOM | +2.33% |
BONESUPPORT HOLDING | +2.30% |
CHORD ENERGY CORP | +2.28% |
NEXTRACKER A | +2.28% |
APPLOVIN CORP A | +2.23% |
Portfolio | Benchmark | Relative | ||
---|---|---|---|---|
Large Cap | 59.88% | 94.67% | -34.79% | |
Medium Cap | 22.58% | 5.33% | 17.25% | |
Small Cap | 12.12% | 0.00% | 12.12% | |
Cash | 5.43% | 0.00% | 5.43% |
The information provided on this webpage is for professional advisers only. The Fund follows formal Shariah Investment Guidelines which have been reviewed by a recognised Sharia Adviser. The Guidelines are used to identify a list of compliant stocks which will comprise the Fund’s investible universe. The Fund makes no guarantee on the accuracy, quality or reliability of the determinations made by the Shariah Adviser. Shariah principles are subject to interpretation and there may not be consensus between different Shariah experts. If it is determined that an investment is no longer Shariah compliant, the Fund will be required to divest and this may incur a loss.
For any company in which the Fund holds an investment, there may be an element of income that the company derives from activities that do not comply with Shariah principles, that is, from “Non-Permissible Income”. Non-permissible income will form part of the property of the Fund and will be distributed to shareholders through any dividends paid. Shareholders will be responsible for the purification of their pro-rated portion of the non-permissible income.
Fund |
As at noon | Share class | Currency | Domicile | ISIN number | NAV per share | Change | KIID |
JOHCM UK Equity Income Fund
Share class | Q4 21 | Q1 22 | Q2 22 | Q3 22 | Q4 22 | Q1 23 | Q2 23 | Q3 23 |
---|---|---|---|---|---|---|---|---|
A distributing GBP | 1.2881 | 1.9828 | 3.4453 | 3.1410 | 1.8309 | 2.1053 | 3.2723 | 3.4292 |
A accumulating GBP | 2.8152 | 4.3509 | 7.6541 | 7.1149 | 4.2268 | 4.9097 | 7.7197 | 8.2427 |
B distributing GBP | 1.1897 | 1.8271 | 3.1746 | 2.8895 | 1.6822 | 1.9315 | 3.0000 | 3.1395 |
B accumulating GBP | 2.6020 | 4.0228 | 7.0604 | 6.5526 | 3.8884 | 4.5096 | 7.0851 | 7.5529 |
Y distributing GBP | 0.8697 | 1.3383 | 2.3274 | 2.1211 | 1.2376 | 1.4237 | 2.2134 | 2.3200 |
Y accumulating GBP | 1.1364 | 1.7602 | 3.0924 | 2.8757 | 1.7088 | 1.9315 | 3.1230 | 3.3359 |
Dividends are quoted and paid in pence per share
Distribution of income occur on or before: 31 May, 31 August, 30 November and 28 February
The quarterly table above shows the last two years net dividends (on an accounting rather than a paid basis) for this fund. If you require the dividends for previous time periods, please contact Northern Trust directly on 0333 300 0359 or by email JOH_Onshore_TAQueries@ntrs.com.
Distribution of income occur on or before: 31 August and 28 February
JOHCM UK Dynamic Fund (Onshore)
Share class | Currency | Pay date | Dividend paid in | Dividend rate |
---|---|---|---|---|
A - distributing | GBP | 31 Aug 2023 | pence per share | 4.7348 |
A - accumulating | GBP | 31 Aug 2023 | pence per share | 7.2848 |
B - distributing | GBP | 31 Aug 2023 | pence per share | 4.2666 |
B - accumulating | GBP | 31 Aug 2023 | pence per share | 8.0119 |
Y - distributing | GBP | 31 Aug 2023 | pence per share | 2.9766 |
Y - accumulating | GBP | 31 Aug 2023 | pence per share | 4.2119 |
X - distributing | GBP | 31 Aug 2023 | pence per share | 2.4775 |
X - accummulating | GBP | 31 Aug 2023 | pence per share | 2.8519 |
M - distributing | GBP | 31 Aug 2023 | pence per share | 0.6975 |
M - accumulating | GBP | 31 Aug 2023 | pence per share | 0.6975 |
K - distributing | GBP | 31 Aug 2023 | pence per share | 0.6130 |
K - accumulating | GBP | 31 Aug 2023 | pence per share | 0.6128 |
JOHCM UK Dynamic Fund (Offshore)
Share class | Currency | Pay date | Dividend paid in | Dividend rate |
---|---|---|---|---|
Y | GBP | 31 Aug 2023 | pence per share | 2.2517 |
Y | EUR | 31 Aug 2023 | pence per share | 2.1310 |
Y | USD | 31 Aug 2023 | pence per chare | 2.3831 |
JOHCM Global Select Shariah Fund
Share class | Currency | Pay date | Dividend paid in | Dividend rate |
---|---|---|---|---|
A | USD | 31 Aug 2023 | pence per share | 0.3187 |
Distribution of income occur on or before 28 February
JOHCM Asia ex Japan Fund
Share class | Currency | Pay date | Dividend paid in | Dividend rate |
---|---|---|---|---|
A | GBP | 28 Feb 2023 | pence per share | 0.0000 |
A | EUR | 28 Feb 2023 | cents per share | 0.0000 |
A | USD | 28 Feb 2023 | cents per share | 0.0000 |
B | GBP | 28 Feb 2023 | pence per share | 0.0000 |
B | EUR | 28 Feb 2023 | cents per share | 0.0000 |
B | USD | 28 Feb 2023 | cents per share | 0.0000 |
Z | GBP | 28 Feb 2023 | cents per share | 1.2559 |
Z | USD | 28 Feb 2023 | cents per share | 0.0088 |
JOHCM Asia ex Japan Small and Mid Cap Fund
Share class | Currency | Pay date | Dividend paid in | Dividend rate |
---|---|---|---|---|
A | GBP | 28 Feb 2023 | pence per share | 0.0000 |
A | EUR | 28 Feb 2023 | cents per share | 0.0000 |
A | USD | 28 Feb 2023 | cents per share | 0.0000 |
B | GBP | 28 Feb 2023 | pence per share | 0.0000 |
B | EUR | 28 Feb 2023 | cents per share | 0.0000 |
B | USD | 28 Feb 2023 | cents per share | 0.0000 |
Z | GBP | 28 Feb 2023 | cents per share | 0.0000 |
JOHCM Continental European Fund
Share class | Currency | Pay date | Dividend paid in | Dividend rate |
---|---|---|---|---|
A | GBP | 28 Feb 2023 | pence per share | 10.0915 |
A | EUR | 28 Feb 2023 | cents per share | 7.9953 |
A - hedge | GBP | 28 Feb 2023 | pence per share | 2.9851 |
B | GBP | 28 Feb 2023 | pence per share | 7.7618 |
B | EUR | 28 Feb 2023 | cents per share | 6.4068 |
B - hedge | USD | 28 Feb 2023 | cents per share | 1.1526 |
Y | GBP | 28 Feb 2023 | pence per share | 3.7378 |
Y - hedge | GBP | 28 Feb 2023 | pence per share | 3.2781 |
Y | EUR | 28 Feb 2023 | cents per share | 3.0566 |
JOHCM European Select Values Fund
Share class | Currency | Pay date | Dividend paid in | Dividend rate |
---|---|---|---|---|
A | GBP | 28 Feb 2023 | pence per share | 4.8151 |
A | EUR | 28 Feb 2023 | cents per share | 2.6779 |
B | GBP | 28 Feb 2023 | pence per share | 2.0318 |
B | EUR | 28 Feb 2023 | cents per share | 0.8256 |
Y | EUR | 28 Feb 2023 | cents per share | 0.8964 |
JOHCM Global Emerging Markets Opportunities Fund
Share class | Currency | Pay date | Dividend paid in | Dividend rate |
---|---|---|---|---|
A | GBP | 28 Feb 2023 | pence per share | 3.9725 |
A | EUR | 28 Feb 2023 | cents per share | 3.7874 |
A | USD | 28 Feb 2023 | cents per share | 2.7065 |
B | GBP | 28 Feb 2023 | pence per share | 3.5330 |
B | EUR | 28 Feb 2023 | cents per share | 3.4128 |
B | USD | 28 Feb 2023 | cents per share | 3.0881 |
Y | GBP | 28 Feb 2023 | pence per share | 4.9039 |
Y | USD | 28 Feb 2023 | cents per share | 2.8124 |
Z | GBP | 28 Feb 2023 | cents per share | 7.3245 |
JOHCM Global Opportunities Fund (onshore)
Share class | Currency | Pay date | Dividend paid in | Dividend rate |
---|---|---|---|---|
A | GBP | 28 Feb 2023 | pence per share | 2.5742 |
A - hedged | GBP | 28 Feb 2023 | pence per share | 2.3240 |
X | GBP | 28 Feb 2023 | cents per share | 2.4772 |
JOHCM Global Opportunities Fund (offshore)
Share class | Currency | Pay date | Dividend paid in | Dividend rate |
---|---|---|---|---|
A | GBP | 28 Feb 2023 | pence per share | 4.4298 |
A | EUR | 28 Feb 2023 | cents per share | 4.1956 |
A | USD | 28 Feb 2023 | cents per share | 3.3076 |
B | EUR | 28 Feb 2023 | cents per share | 3.8301 |
B | USD | 28 Feb 2023 | cents per share | 3.1239 |
A - hedged | EUR | 28 Feb 2023 | cents per share | 1.6538 |
X | GBP | 28 Feb 2023 | cents per share | 3.7875 |
Z | GBP | 28 Feb 2023 | cents per share | 1.7774 |
X - hedged | GBP | 28 Feb 2023 | cents per share | 2.1090 |
X | EUR | 28 Feb 2023 | cents per share | 1.9147 |
JOHCM Global Select Fund
Share class | Currency | Pay date | Dividend paid in | Dividend rate |
---|---|---|---|---|
A | GBP | 28 Feb 2023 | pence per share | 2.5774 |
A | EUR | 28 Feb 2023 | cents per share | 2.0747 |
A | USD | 28 Feb 2023 | cents per share | 1.0629 |
B | GBP | 28 Feb 2023 | pence per share | 0.0000 |
B | EUR | 28 Feb 2023 | cents per share | 0.0000 |
B | USD | 28 Feb 2023 | cents per share | 0.0000 |
Z | GBP | 28 Feb 2023 | pence per share | 4.2279 |
JOHCM UK Growth Fund
Share class | Currency | Pay date | Dividend paid in | Dividend rate |
---|---|---|---|---|
A | GBP | 28 Feb 2023 | pence per share | 4.6405 |
B | GBP | 28 Feb 2023 | pence per share | 2.4239 |
X | GBP | 28 Feb 2023 | pence per share | 2.5898 |
JOHCM UK Opportunities Fund
Share class | Currency | Pay date | Dividend paid in | Dividend rate |
---|---|---|---|---|
A - distributing | GBP | 28 Feb 2023 | pence per share | 6.1160 |
A - accumulating | GBP | 28 Feb 2023 | pence per share | 9.5564 |
B - distributing | GBP | 28 Feb 2023 | pence per share | 5.7397 |
B - accumulating | GBP | 28 Feb 2023 | pence per share | 8.8440 |
Y - accumulating | GBP | 28 Feb 2023 | pence per share | 5.3515 |
Y - distributing | GBP | 28 Feb 2023 | pence per share | 4.1220 |
Net dividends quoted in the local share class currency.
If you would like more information, please contact Northern Trust directly on 0333 300 0359 or by email JOH_Onshore_TAQueries@ntrs.com. Email us at oeicdealing@johcm.co.uk.
The information provided on this webpage is for professional advisers only. The Fund follows formal Shariah Investment Guidelines which have been reviewed by a recognised Sharia Adviser. The Guidelines are used to identify a list of compliant stocks which will comprise the Fund’s investible universe. The Fund makes no guarantee on the accuracy, quality or reliability of the determinations made by the Shariah Adviser. Shariah principles are subject to interpretation and there may not be consensus between different Shariah experts. If it is determined that an investment is no longer Shariah compliant, the Fund will be required to divest and this may incur a loss.
For any company in which the Fund holds an investment, there may be an element of income that the company derives from activities that do not comply with Shariah principles, that is, from “Non-Permissible Income”. Non-permissible income will form part of the property of the Fund and will be distributed to shareholders through any dividends paid. Shareholders will be responsible for the purification of their pro-rated portion of the non-permissible income.
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 MoreFund 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...
Read MoreThe 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 ...
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