JOHCM European Select Values Fund

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Fund Description

Fund manager Robrecht Wouters has a highly selective, valuation-oriented investment style, which focuses on undervalued pan-European companies that generate high returns on capital. His stock-picking approach is unconstrained by benchmark weightings and combines traditional ‘value’ investing (focusing on attractive valuations) and ‘quality’ characteristics, such as high return on capital employed.
 

Investment Strategy
  • Robrecht uses a disciplined, bottom-up stock selection process to find companies that he believes to be fundamentally undervalued
  • The investment approach is highly selective, focusing on cash flow generation and return on equity
  • The quality of the companies’ business models, rather than changes in earnings per share, is also essential; Robrecht believes that, over time, value companies with high ROCE and strong cash flow should outperform
  • In Robrecht’s view, a portfolio with higher quality companies and ideas, which are strong in conviction, provides greater potential for capital appreciation
  • Please note that this fund, under UCITS regulations, makes use of derivatives for the purpose of efficient portfolio management only. For further information on his derivatives use, please contact JOHCM Investor Relations.
Reasons To Invest
  • Robrecht has a very strong long-term track record and is a true value stock picker
  • The focus on quality and value factors typically leads to a low absolute volatility of returns despite the portfolio being fairly concentrated, with typically 40-50 stocks
  • The fund is aimed at investors who want to invest in a long-term, absolute return-orientated fund
  • Robrecht Wouters

    Senior Fund Manager

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  • Luis Fañanas

    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.

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 European Equity Funds

JOHCM Continental European Fund

Paul Wild manages this long-established fund with a pragmatic investment process that combines top-down economic and sector views with bottom-up stock picking. The Fund’s core style and risk profile has enabled it to outperform in both up and down markets and helped to build a market-leading performance track record since the Fund’s launch in 2

Read More
JOHCM European Concentrated Value Fund

The Fund was launched in Q1 2015 as a large-cap, concentrated version of the highly successful JOHCM European Select Values Fund (ESV). Managed by experienced European equity investors Robrecht Wouters, long-standing lead manager of the ESV fund, and Luis Fananas, the duo have a highly selective, valuation-oriented investment approach which foc

Read More
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Investment Objective

The Fund aims to achieve long-term capital appreciation by investing in the equity securities of companies listed primarily on exchanges in Europe, including the UK.

Fund details

Data as at 31 August 2021
Fund size GBP 766.88m
Strategy size GBP 922.26m (as at 30 June 2021)
Benchmark MSCI Europe NR 12pm adjusted
Domicile Ireland
Denomination GBP, EUR
Share classes
A GBP (Launch date) 07-May-2003
A EUR (Launch date) 07-May-2003
B GBP (Launch date) 07-May-2003
B EUR (Launch date) 07-May-2003
Y EUR (Launch date) 04-March-2021
Unit type Distribution
XD Date 31 December
Payment date 28 February
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 IE0032904223 3290422
A EUR IE0032904330 3290433
B GBP IE0032904009 3290400
B EUR IE0032904116 3290411
Y EUR IE00BMXC8L31 BMXC8L3

Fees and charges

Initial charge Up to 5%
Annual mgmt charge (A) 0.75%
Annual mgmt charge (B) 1.25%
Performance fee

15% on excess if Fund outperforms benchmark, calculated daily. Any underperformance carried forward. This fee applies to all share classes.

Administration

Status UCITS
Investment manager J O Hambro Capital Management
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.

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 August 2021

After the recent summer rally in bond markets, the 10-year European Generic Government Bond index yields less than -0.40%. Bonds guarantee investors a loss at redemption and this backdrop fuels continued liquidity flows into European equities - especially growth names (whatever the valuation). It is ironic that an active asset allocation call is followed by a passive equity allocation.

The MSCI Europe index posted a +2.0% rise in August and is now up +19.64% YTD. Liquidity driven market rallies make it difficult for fundamental, value-oriented strategies such as ours to outperform. In August the Fund returned +0.50%. However, the Fund’s relative underperformance can be fully accounted for by two stock specific setbacks: Atlantic Sapphire (a land-based salmon farmer) and Swatch Group (a luxury product manufacturer).

Unexpected supply disruption in non-medical liquid oxygen (triggered by shortages of medical oxygen due to rising Covid-19 cases) will delay Atlantic Sapphire’s full-scale salmon harvesting at its ‘phase 1’ production facility in Florida until mid 2022 and therefore postpone cash flow generation. At the same time, investments (i.e. cash outflows for construction) of the ‘phase 2’ production facility are underway which will also delay visible free cash flow. We estimate this setback reduces the net present value (or intrinsic value) of the business by some –15% (which still leaves us with substantial upside and a big margin of safety). In our view, this setback does not warrant the -40% share price decline over the month. We added to the name, and, at the time of writing, the company announced it has resolved the gas supply issues. 

After a strong run, Swatch Group’s share price declined -16% after Xi Jinping’s call for wealth redistribution in China threatened luxury goods companies. Policy developments in this area could impact Swatch’s Covid-19 recovery and long-term growth rate but whilst it is valued at only 10x its underlying free cash flow, we believe growth is not valued at the company anyway… We added gently to our position.

Portfolio activity was limited this month. We did, however, sell out of Wolters Kluwer after 16 years of ownership. The tailwinds of negative interest rates and the search for extremely defensive growth has propelled the stock +45% YTD and it now trades on a free cash flow multiple of over 25x; even after stretching certain assumptions we could no longer justify holding on.

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.

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.

KIIDs
(Key Investor Information Documents)

A GBP A EUR
B GBP B EUR
Y EUR
xx EUR - Non Dist

 

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.

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.

Percentage growth of the fund versus benchmark

Data as at 31 August 2021

A GBP share class, since launch (5 May 2003)

Return history (%)

Data as at 31 August 2021

Standardised Performance

Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. 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.
 


Jun 16 - Jun 17 Jun 17 - Jun 18 Jun 18 - Jun 19 Jun 19 - Jun 20 Jun 20 - Jun 21
Fund 26.80% -3.99% 2.82% -14.40% 27.08%

Monthly returns (%)

Data as at 31 August 2021
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2003 0.80 4.66 4.55 7.71 0.25 5.29 0.24 2.63 29.00
Benchmark 2003 -0.05 1.39 2.63 2.60 -2.15 3.38 2.80 4.29 15.73
Fund 2004 3.33 3.00 -3.93 2.58 -3.25 3.82 -5.37 -0.54 2.97 2.66 5.77 2.17 13.26
Benchmark 2004 0.29 0.67 -2.87 2.72 -1.62 2.78 -3.46 1.74 3.72 1.99 4.64 1.22 12.07
Fund 2005 1.64 3.70 -0.58 -3.66 4.20 3.58 7.79 -0.82 2.76 -6.23 7.01 6.04 27.38
Benchmark 2005 -0.15 3.30 -0.49 -3.44 5.14 2.62 6.34 -1.39 4.48 -3.67 5.02 3.74 22.94
Fund 2006 5.37 3.11 4.55 1.61 -6.84 0.75 -0.30 0.80 4.69 2.22 1.48 2.86 21.60
Benchmark 2006 3.03 2.48 3.82 0.52 -6.19 2.24 1.18 1.26 2.65 2.08 1.05 2.16 17.11
Fund 2007 3.89 0.26 4.62 4.01 2.85 -4.02 -2.17 2.75 -0.16 -2.01 3.45 13.83
Benchmark 2007 0.78 0.50 2.45 5.04 2.93 -2.05 -2.80 -0.42 4.57 2.89 -1.67 1.66 14.38
Fund 2008 -10.29 -0.87 -2.44 1.67 -0.71 -12.64 -6.39 7.37 -10.12 -14.15 -0.66 14.73 -32.36
Benchmark 2008 -11.69 3.60 -0.62 5.21 1.76 -10.02 -0.89 3.56 -13.26 -15.78 1.57 13.49 -24.30
Fund 2009 -7.35 -6.80 8.10 12.61 2.32 -0.89 9.73 9.42 7.73 0.35 1.29 4.21 46.05
Benchmark 2009 -10.67 -10.38 5.38 12.00 2.75 -3.15 8.45 8.93 6.44 -2.42 1.17 3.35 20.64
Fund 2010 -3.39 4.22 8.47 -2.54 -6.02 -2.90 3.57 -2.76 10.34 4.42 -1.45 10.47 22.73
Benchmark 2010 -6.13 2.66 7.93 -3.17 -6.55 -4.29 6.50 -3.58 9.44 2.90 -4.10 7.87 7.76
Fund 2011 -1.63 1.79 2.99 3.51 0.59 -6.32 -7.47 -4.96 9.43 -7.01 1.44 -8.68
Benchmark 2011 1.14 1.32 0.97 3.94 -1.89 -0.24 -4.89 -10.36 -5.77 10.92 -7.02 2.18 -10.87
Fund 2012 3.77 5.14 0.37 -3.29 -6.28 3.22 2.05 3.16 2.11 2.07 1.90 2.63 17.55
Benchmark 2012 4.36 5.26 -1.86 -3.44 -6.96 4.35 2.81 3.18 1.64 2.02 2.34 1.47 15.47
Fund 2013 9.16 3.77 1.79 -1.02 3.16 -2.34 8.78 -1.52 0.41 4.50 -0.86 0.89 29.27
Benchmark 2013 8.45 1.08 -0.11 1.72 3.08 -4.81 6.57 -1.96 1.49 5.49 -0.61 0.80 22.49
Fund 2014 -4.06 4.49 1.77 0.05 2.46 -2.42 -2.60 2.30 -2.59 -1.27 6.31 -1.66 2.24
Benchmark 2014 -3.99 5.78 0.14 0.91 1.58 -2.09 -1.94 1.59 -1.67 -1.00 4.08 -3.13 -0.22
Fund 2015 2.61 2.74 2.69 0.29 2.43 -7.11 2.20 -4.65 -0.97 4.56 1.97 0.18 6.47
Benchmark 2015 4.08 2.64 2.09 -0.18 1.76 -6.01 1.94 -5.33 -3.00 5.11 1.12 -0.99 2.57
Fund 2016 -1.27 4.00 3.03 -0.39 -0.26 4.72 6.10 1.78 0.37 3.29 -5.54 5.83 23.16
Benchmark 2016 -4.32 1.18 3.26 1.17 -0.41 2.37 6.24 2.19 -0.01 4.75 -4.08 5.61 18.75
Fund 2017 1.76 1.48 4.18 1.63 4.07 -0.41 0.12 1.26 -1.08 1.51 -1.57 0.90 14.55
Benchmark 2017 1.42 0.84 3.69 0.71 5.23 -1.33 0.85 1.74 -0.69 1.93 -1.06 0.52 14.53
Fund 2018 0.38 -3.32 -3.71 1.53 1.33 -1.21 2.81 0.95 -0.02 -5.82 -1.27 -5.34 -13.25
Benchmark 2018 1.01 -3.51 -2.99 5.11 0.51 -0.35 3.74 -1.45 -0.55 -5.60 -0.61 -4.80 -9.60
Fund 2019 2.81 1.84 1.45 5.42 -4.83 5.62 0.49 -4.90 -0.91 -5.73 0.47 0.81 1.77
Benchmark 2019 3.74 1.79 2.14 4.26 -2.57 5.85 2.61 -2.04 0.95 -1.67 1.96 1.36 19.58
Fund 2020 -4.45 -6.49 -11.78 8.41 7.90 2.69 -1.27 3.94 -0.82 -8.03 18.70 4.72 10.17
Benchmark 2020 -1.67 -7.40 -12.09 6.86 5.77 3.50 -1.34 1.75 -0.47 -6.27 14.71 1.90 2.51
Fund 2021 0.03 2.84 1.62 3.61 1.69 -0.86 -1.16 1.37 9.42 608.45
Benchmark 2021 -1.52 0.28 4.22 3.62 1.91 1.09 1.11 2.90 14.32 367.34

Source and notes

JOHCM/MSCI Barra/FTSE Group/Bloomberg/Lipper.

Data shown net of fees, net income reinvested.Please note that fund performance is shown against the MSCI Europe NR 12pm adjusted in GBP. Performance of other share classes may vary and is available on request. Data for the period 7 May 2003 to 31 December 2012 is shown against the FTSE Eurofirst 300 TR Index. Where shown, monthly returns table shows compounded discrete monthly performance.

Disclaimer

Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. 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.

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 31 August 2021
Fund size GBP 766.88m
Number of holdings 39

Top 10 holdings and active weights

Data as at 31 August 2021
Top 10 holdings
Liberty Global 5.49%
Oracle 4.86%
Metro Wholesale & Foods 4.08%
UNITED INTERNET 4.07%
Danone 4.06%
Thyssen Krupp 4.00%
Corbion 3.98%
Heineken 3.86%
SWATCH GROUP INH 3.43%
CONTINENTAL 3.27%
Top 10 active weights
Liberty Global +5.49%
Oracle +4.86%
Metro Wholesale & Foods +4.08%
UNITED INTERNET +4.03%
Thyssen Krupp +4.00%
Corbion +3.98%
Heineken +3.76%
Danone +3.64%
SWATCH GROUP INH +3.36%
CONTINENTAL +3.14%

Sector breakdown

Data as at 31 August 2021
Portfolio Benchmark Relative
Consumer Staples 21.88% 12.37% 9.51%
Materials 14.66% 8.21% 6.45%
Communication Services 14.34% 3.85% 10.49%
Industrials 13.39% 14.98% -1.59%
Consumer Discretionary 12.91% 11.74% 1.17%
Health Care 10.31% 14.60% -4.29%
Information Technology 7.69% 8.98% -1.29%
Energy 3.94% 4.14% -0.19%
Financials 0.00% 15.48% -15.48%
Real Estate 0.00% 1.37% -1.37%
Utilities 0.00% 4.28% -4.28%
Cash 0.89% 0.00% 0.89%

Market cap breakdown

Data as at 31 August 2021
Portfolio Benchmark Relative
Large Cap 57.40% 99.75% -42.35%
Medium Cap 18.10% 0.25% 17.85%
Small Cap 23.71% 0.00% 23.71%
Cash 0.79% 0.00% 0.79%

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.

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 24/09/2021 A EUR Ireland B431KK7 2.829 -0.017
A GBP Ireland B3RQ272 2.875 -0.011
A USD Ireland B435PM6 2.461 -0.017
B EUR Ireland B5L49R5 2.857 -0.017
B GBP Ireland B3ZQS76 2.820 -0.010
B USD Ireland BF7NZT0 2.491 -0.017
Z GBP Ireland B44PG77 2.048 -0.007
Z USD Ireland BVG7681 1.650 -0.012
JOHCM Asia ex Japan Small and Mid Cap Fund 24/09/2021 A EUR Ireland B6R5VD9 2.742 -0.011
A GBP Ireland B6R5LS4 3.098 -0.006
A USD Ireland B6R5QW3 2.817 -0.016
B GBP Ireland B6R63P8 3.024 -0.005
B USD Ireland B6R5YM9 2.687 -0.014
B EUR Ireland B6R5HM0 3.100 -0.013
Z GBP Ireland B4X3T62 2.348 -0.004
JOHCM Continental European Fund 24/09/2021 A EUR Ireland 3300923 4.515 -0.025
A GBP Ireland 3300912 5.545 -0.019
A USD Ireland BJ4G0G2 1.756 -0.010
A Hedged GBP Ireland BSJCJ49 1.529 -0.009
B EUR Ireland 3300901 4.539 -0.026
B GBP Ireland 3100543 5.339 -0.018
B USD Ireland BJ4G0H3 1.787 -0.011
Y GBP Ireland B993PD0 2.043 -0.007
Y EUR Ireland B98YKX9 1.740 -0.010
Y Hedged GBP Ireland BSJCJ50 1.598 -0.009
JOHCM European Concentrated Value Fund 24/09/2021 A EUR Ireland BW0DJY9 1.153 -0.004
B EUR Ireland BW0DJZ0 1.145 -0.004
Z AUD Ireland BYNJFM8 1.348 0.003
Z EUR Ireland BYNJFN9 1.064 -0.004
JOHCM European Select Values Fund 24/09/2021 A EUR Ireland 3290433 3.939 -0.020
A GBP Ireland 3290422 6.069 -0.016
B EUR Ireland 3290411 2.633 -0.013
B GBP Ireland 3290400 5.549 -0.015
Non-Distributing EUR Ireland BSFWK51 1.460 -0.008
X EUR Ireland B4K14L9 1.883 -0.009
Y EUR Ireland BMXC8L3 1.060 -0.005
JOHCM Global Emerging Markets Opportunities Fund 24/09/2021 A USD Ireland B4M6CN0 1.318 -0.012
A EUR Ireland B3ZBLW7 1.639 -0.013
A GBP Ireland B4002N4 1.493 -0.009
B EUR Ireland B4TRCR0 1.615 -0.013
B GBP Ireland B41RZ57 1.432 -0.009
B USD Ireland B4XXMP2 1.718 -0.017
Y GBP Ireland BYSGJY4 1.799 -0.011
Y USD Ireland BYSGJZ5 1.604 -0.015
Z CAD Ireland BBPK0L2 1.761 -0.012
Z GBP Ireland B6R54W9 1.886 -0.011
JOHCM Global Income Builder Fund 24/09/2021 A GBP Ireland BFZWPC2 1.079 0.002
A SGD Ireland BFZWPG6 1.100 0.002
A USD Ireland BFZWPF5 1.101 -0.003
A EUR Ireland BFZWPD3 1.111 0.000
B EUR Ireland BFZWPJ9 1.073 0.000
Seed EUR Ireland BKF2GH9 0.990 0.000
Seed GBP Ireland BFZWPH7 1.131 0.002
Seed GBP Ireland BHR0DJ1 1.124 0.002
JOHCM Global Opportunities Fund (offshore) 24/09/2021 A EUR Ireland B7MR557 2.478 -0.009
A GBP Ireland B89PQM5 2.242 -0.002
A USD Ireland B89JY23 2.293 -0.011
A Hedged EUR Ireland BFZWWX2 1.099 -0.005
B EUR Ireland B80FZF0 2.275 -0.007
B GBP Ireland BF7NZS9 2.461 -0.003
B USD Ireland B8295C7 2.176 -0.011
X EUR Ireland BJ5JW42 1.130 -0.004
X EUR Ireland BMCZLF8 1.213 -0.004
X GBP Ireland BQVC9L0 1.915 -0.002
X Hedged GBP Ireland BF29TX5 1.182 -0.006
Z EUR Ireland BDZD4M4 1.117 -0.004
Z GBP Ireland B83MS15 0.894 -0.001
Z GBP Ireland BD6R4D6 1.701 -0.002
JOHCM Global Opportunities Fund (onshore) 24/09/2021 A Accumulating GBP UK BJ5JMC0 1.152 -0.001
A Accumulating Hedged GBP UK BKDV8G1 1.177 -0.006
A Distributing GBP UK BJ5JMD1 1.107 -0.001
X Accumulating GBP UK BJ5JMF3 1.121 -0.001
X Distributing GBP UK BJ5JMG4 1.105 -0.002
JOHCM Global Select Fund 24/09/2021 A EUR Ireland B3DBRP4 4.712 0.006
A GBP Ireland B3DBRN2 5.014 0.018
A USD Ireland B3T31Z2 2.833 0.002
B EUR Ireland B3DBRM1 4.549 0.007
B GBP Ireland B3DBRL0 4.816 0.017
B USD Ireland B5L7L67 3.223 0.000
Z GBP Ireland B3DCMB8 3.635 0.016
Z USD Ireland B4V7J00 3.211 0.003
JOHCM Uk Dynamic Fund 24/09/2021 Y GBP Ireland BDGKPZ4 1.009 -0.007
JOHCM UK Dynamic Fund (onshore) 24/09/2021 A Accumilating GBP UK B4T7HR5 2.783 -0.018
A Distributing GBP UK B4T8552 1.945 -0.013
B Accumulating GBP UK B4T7JX5 3.084 -0.021
B Distributing GBP UK B4TXJ33 1.766 -0.012
X Accumulating GBP UK BJ7HNB8 1.085 -0.008
X Distributing GBP UK BJ5JMB9 1.014 -0.006
Y GBP UK BDZRJ21 1.220 -0.008
Y Accumulating GBP UK BDZRJ10 1.606 -0.010
JOHCM UK Equity Income Fund 24/09/2021 A Accumulating GBP UK B03KR50 4.168 -0.012
A Distributing GBP UK B03KP23 1.938 -0.006
B Accumulating GBP UK B03KR83 3.856 -0.011
B Distributing GBP UK B03KR61 1.791 -0.006
X Distributing GBP UK BYV9S21 0.967 -0.003
Y GBP UK B95FCK6 1.309 -0.003
Y Accumulating GBP UK B8FCHK5 1.683 -0.004
JOHCM UK Growth Fund 24/09/2021 A GBP Ireland 3300934 4.243 0.005
B GBP Ireland 3100554 3.687 0.009
Non-distributing EUR Ireland BLLV8D7 2.304 0.001
Non-distributing USD Ireland BLLV8C6 2.514 -0.003
X EUR Ireland BLLV882 2.314 0.001
X EUR Ireland BLLV8B5 2.145 0.005
X GBP Ireland BLLV893 2.125 0.005
X USD Ireland BLLV871 2.526 -0.002
JOHCM UK Opportunities Fund 24/09/2021 A Accumulating GBP UK B0LLB64 3.324 -0.012
A Distributing GBP UK B3K76Q9 2.183 -0.008
B Accumulating GBP UK B0LLB75 3.088 -0.011
B Distributing GBP UK B3K76P8 2.057 -0.007
X Accumulating GBP UK BQJZQQ5 1.530 -0.005
X Distributing GBP UK B95MSF4 1.238 -0.004
Y GBP UK B95J5C1 1.470 -0.005
Y Accumulating GBP UK B95HP81 1.860 -0.006
Regnan Global Equity Impact Solutions Fund (offshore) 24/09/2021 A EUR Ireland BN2BD91 1.061 -0.007
A GBP Ireland BN2BD80 1.020 -0.005
A USD Ireland BN2BDC4 1.029 -0.007
A Hedged EUR Ireland BN2BDB3 1.025 -0.008
B EUR Ireland BN2BDF7 1.056 -0.007
B GBP Ireland BN2BDD5 1.017 -0.004
B USD Ireland BN2BDH9 1.023 -0.009
B Hedged EUR Ireland BN2BDG8 1.014 -0.008
Seed EUR Ireland BN2BDS0 1.069 -0.007
Seed GBP Ireland BN2BDR9 1.028 -0.005
Seed USD Ireland BN2BDV3 1.034 -0.009
Seed Hedge EUR Ireland BN2BDT1 1.026 -0.008
Z GBP Ireland BN2BDN5 1.025 -0.004
Regnan Global Equity Impact Solutions Fund (onshore) 24/09/2021 A Accumulating GBP UK BMCZDD0 1.195 -0.005
A Accumulating Hedged GBP UK BMCZDJ6 1.202 -0.005
Y Accumulating GBP UK BMCZDK7 1.196 -0.005
Regnan Sustainable Water and Waste Fund (onshore) 24/09/2021 A Accumulating GBP UK BMYXD32 0.986 0.000
F Accumulating GBP UK BMYXQ55 0.986 0.000
Y Accumulating GBP UK BMYXQ55 0.986 0.000

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class 09/20 10/20 11/20 12/20 01/21 02/21 03/21 04/21 05/21 06/21 07/21 08/21
A  GBP 0.3871 0.4592 0.4016 0.4363 0.4312 0.3200 0.3071 0.3763 0.3485 0.3257 0.3877 0.3516
A EUR 0.3838 0.4431 0.3928 0.4289 0.4233 0.3205 0.3138 0.3899 0.3555 0.3336 0.3978 0.3638
A USD   0.3885 0.4393 0.3865 0.4335 0.4393 0.3270 0.3191 0.3864 0.3605 0.3443 0.3985 0.3651
A SGD  0.3895 0.4425 0.3899 0.4296 0.4274 0.3217 0.3140 0.3844 0.3558 0.3364 0.3965 0.3644
B EUR 0.3745 0.4319 0.3826 0.4174 0.4115 0.3114 0.3046 0.3781 0.3444 0.3229 0.3847 0.3515
Seed 0.3402 0.3929 0.3484 0.3806 0.3757 0.2846 0.2787 0.3464 0.3160 0.2966 0.3538 0.3237

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 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21
A distributing GBP 2.0957 3.6523 2.7970 2.0409 1.5930 1.1154 1.2632 1.0771 1.1681 2.3283
A accumulating GBP 4.0293 7.1000 5.5449 4.1082 3.2391 2.2958 2.6218 2.2581 2.4649 4.9447
B distributing GBP  1.9597 3.4124 2.6093 1.9017 1.4790 1.0379 1.1739 0.9997 1.0825 2.1559
B accumulating GBP 3.7777 6.6508 5.1861 3.8367 3.0210 2.1395 2.4391 2.0980 2.2869 4.5836
Y distributing GBP 1.4102 2.4582 1.8832 1.3744 1.0730 0.7534 0.8514 0.7263 0.7879 1.5709
Y accumulating GBP 1.6220 2.8588 2.2334 1.6547 1.3051 0.9242 1.0570 0.5363 0.9944 1.9953

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 2020 and pay date of 28 February 2021.


JOHCM Asia ex Japan Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2021 pence per share 0.0000
A EUR 28 Feb 2021 cents per share 0.0000
A USD 28 Feb 2021 cents per share 0.0000
B GBP 28 Feb 2021 pence per share 0.0000
B EUR 28 Feb 2021 cents per share 0.0000
B USD 28 Feb 2021 cents per share 0.0000
Z GBP 28 Feb 2021 cents per share 1.3082
Z USD 28 Feb 2021 cents per share 1.0517

JOHCM Asia ex Japan Small and Mid Cap Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2021 pence per share 0.0174
A EUR 28 Feb 2021 cents per share 0.0000
A USD 28 Feb 2021 cents per share 0.0000
B GBP 28 Feb 2021 pence per share 0.0000
B EUR 28 Feb 2021 cents per share 0.0000
B USD 28 Feb 2021 cents per share 0.0000
Z GBP 28 Feb 2021 cents per share 0.5072

JOHCM Concentrated Global Share Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2021 pence per share 0.4259

JOHCM Continental European Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2021 pence per share 5.8996
A EUR 28 Feb 2021 cents per share 4.5760
A - hedge GBP 28 Feb 2021 pence per share 1.5657
B GBP 28 Feb 2021 pence per share 3.5824
B EUR 28 Feb 2021 cents per share 2.9017
B - hedge USD 28 Feb 2021 cents per share 0.7325
Y GBP 28 Feb 2021 pence per share 2.3739
Y - hedge GBP 28 Feb 2021 pence per share 1.7895
Y EUR 28 Feb 2021 cents per share 1.9265

JOHCM European Select Values Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2021 pence per share 5.8627
A EUR 28 Feb 2021 cents per share 3.6253
B GBP 28 Feb 2021 pence per share 3.1469
B EUR 28 Feb 2021 cents per share 1.4223

JOHCM European Concentrated Value Fund

Share class Currency Pay date Dividend paid in Dividend rate
A EUR 28 Feb 2021 cents per share 1.0427
B USD 28 Feb 2021 cents per share 0.7018
B EUR 28 Feb 2021 cents per share 0.5797
Z EUR 28 Feb 2021 cents per share 1.5956

JOHCM Global Emerging Markets Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2021 pence per share 1.6723
A EUR 28 Feb 2021 cents per share 1.7483
A USD 28 Feb 2021 cents per share 1.4737
B GBP 28 Feb 2021 pence per share 0.8550
B EUR 28 Feb 2021 cents per share 0.9178
B USD 28 Feb 2021 cents per share 1.0224
Y GBP 28 Feb 2021 pence per share 2.2520
Y USD 28 Feb 2021 cents per share 2.0030
Z GBP 28 Feb 2021 cents per share 3.5880

JOHCM Global Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2021 pence per share 4.7894
A EUR 28 Feb 2021 cents per share 5.0441
A USD 28 Feb 2021 cents per share 4.8886
B GBP 28 Feb 2021 pence per share 5.3099
B EUR 28 Feb 2021 cents per share 4.6750
B USD 28 Feb 2021 cents per share 4.6865
A - hedged EUR 28 Feb 2021 cents per share 2.2077
X GBP 28 Feb 2021 cents per share 4.0923
Z GBP 28 Feb 2021 cents per share 1.8925
X - hedged GBP 28 Feb 2021 cents per share 2.3159
X EUR 28 Feb 2021 cents per share 2.2293

JOHCM Global Select Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2021 pence per share 0.0000
A EUR 28 Feb 2021 cents per share 0.0000
A USD 28 Feb 2021 cents per share 0.0000
B GBP 28 Feb 2021 pence per share 0.0000
B EUR 28 Feb 2021 cents per share 0.0000
B USD 28 Feb 2021 cents per share 0.0000
Z GBP 28 Feb 2021 cents per share 2.1310


JOHCM UK Dynamic Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2021 pence per share 4.5474
A - accumulating GBP 28 Feb 2021 pence per share 6.3294
B - distributing GBP 28 Feb 2021 pence per share 4.1566
B - accumulating GBP 28 Feb 2021 pence per share 7.0581
Y - distributing GBP 28 Feb 2021 pence per share 2.8496
Y - accumulating GBP 28 Feb 2021 pence per share 3.6465
Y GBP 28 Feb 2021 pence per share 2.2768

JOHCM UK Growth Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2021 pence per share 2.2139
B GBP 28 Feb 2021 pence per share 0.6152
X GBP 28 Feb 2021 pence per share 0.3146

JOHCM UK Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2021 pence per share 4.7354
A - accumulating GBP 28 Feb 2021 pence per share 7.0433
B - distributing GBP 28 Feb 2021 pence per share 4.4936
B - accumulating GBP 28 Feb 2021 pence per share 6.5893
Y - accumulating GBP 28 Feb 2021 pence per share 3.9303
Y - distributing GBP 28 Feb 2021 pence per share 3.1829

 

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

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Webcasts & Videos

  • JOHCM European Select Values Fund Q1 2021 Update

    15 Apr 2021 | 40 mins

  • JOHCM European Select Values Fund Q4 2020 Update

    15 Jan 2021 | 32 mins

  • JOHCM European Select Values Fund Q3 2020 Update

    14 Oct 2020 | 44 mins

  • JOHCM European Select Values Fund Q2 2020 Update

    09 Jul 2020 | 43 mins

  • Robrecht Wouters

    Senior Fund Manager

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  • Luis Fañanas

    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.

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.

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JOHCM European Concentrated Value Fund

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