JOHCM UK Dynamic Fund (offshore)

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Fund Description

The team look for business transformation opportunities, under the belief that companies are dynamic and not static. These are companies that are at low points in their lifecycle, where management recognises there is a need for strategic change. These situations are often accompanied by a change in senior management or the board. These companies tend to follow a similar process: stabilise and restructure the balance sheet, employ stricter capital allocation, and sustainably improving the business model. As this plays out, the stock begins to re-rate as the market recognises the higher growth, margins, and cashflows delivered from the streamlined efficiencies.

  • The team follows a pragmatic approach to fund management, looking for the best capital growth opportunities regardless of the perceived style of the stock but within the confines of his clear portfolio disciplines.
  • The team looks for investments where they have a more positive view of medium to long-term future revenues and cash flows than the prevailing market opinion. They believe that independence of thought, hard work and strict adherence to a well-defined portfolio investment process will result in long-term value creation.
  • The Fund invests in a mixture of high quality, unloved, under-researched, under-appreciated stocks and often out of favour areas of the market.
Reasons To Invest
  • Change is one of the biggest drivers of stock returns, but it is consistently overlooked or is misunderstood by the market. Markets are slow to price in change and that creates opportunities for disciplined investors
  • The team places great importance on balance sheet and cash flow management. All stocks in the portfolio must pay a dividend or be expected to do by the team within the next financial year, giving the Fund attractive yield characteristics
  • Mark Costar

    Senior Fund Manager

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  • Vishal Bhatia

    Senior Fund Manager

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  • Tom Matthews

    Portfolio Manager

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This is a marketing communication.

Information on the rights of investors can be found here.

The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments 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 UK Equity Funds

JOHCM UK Equity Income Fund

Established stock pickers James Lowen and Clive Beagles operate a strict yield discipline: they only buy stocks that they believe will yield more than the FTSE All-Share Index on a prospective basis, although every stock held must also have the potential for capital appreciation. This focus on higher-yielding stocks leads to a naturally cont...

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JOHCM UK Growth Fund

Mark Costar and Vishal Bhatia aim to identify mispriced or undiscovered growth stocks that typically reside in one of three categories: the clear and unassailable market leader, the innovator or market disruptor and the supply side beneficiary. The Fund typically has a small-cap bias and contains stocks that have a high margin of safety...

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JOHCM UK Opportunities Fund

Fund managers Rachel Reutter and Michael Ulrich, supported by experienced analyst Eoghan Reid, run a concentrated portfolio of best-in-class UK large and mid-cap companies.

They invest in companies with reliable cashflows which they expect and encourage management to invest back into their businesses to sustain future growth. The ...

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JOHCM UK Dynamic Fund (offshore)

The team look for business transformation opportunities, under the belief that companies are dynamic and not static. These are companies that are at low points in their lifecycle, where management recognises there is a need for strategic change. These situations are often accompanied by a change in senior management or the board. These compa...

Read More
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Investment Objective

The objective of the JOHCM UK Dynamic Fund is to achieve long-term capital growth. The Fund will aim to achieve this objective mainly through investments primarily drawn from companies listed on either of the two primary markets of the London Stock Exchange: the main market and AIM. At least 75% of the Fund’s assets will, at all times, be invested in equity securities of companies domiciled or exercising a predominant part of their economic activity in the United Kingdom. On occasion the Fund may utilise this position to invest a proportion of its assets in equities listed on a recognised exchange outside the UK. Investment will be made primarily in equity securities which are readily marketable, but investments will also be made in equity securities of smaller companies which can be more lightly traded. The portfolio is likely to be fairly concentrated with the Fund typically holding equity interests in between 35 and 50 different companies.

Fund details

Data as at 10 July 2024
Benchmark FTSE All-Share TR 12pm adjusted
Domicile Ireland
Denomination GBP
Share classes

Please click here

Unit type Distribution & accumulation
XD Date 31 December, 30 June
Payment date 28 February, 31 August
Minimum investment
A distributing GBP 1,000
Valuation point Daily (12 noon, UK time)
Dealing frequency Daily 9-5pm

Fund ratings and awards

Data as at 10 July 2024

For our latest fund ratings and awards, please view our latest factsheet here

Fees and charges

Initial charge Up to 5%
Performance fee

Please review the latest factsheet for more information our fees and charges here

Administration

Status UCITS
Investment manager J O Hambro Capital Management Limited
Transfer agent and registrar Northern Trust International Fund Administration Services (Ireland) Limited
Depositary Northern Trust Fiduciary Services (Ireland) Limited

This is a marketing communication.

Information on the rights of investors can be found here.

The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments 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 30 June 2024

In the context of the UK’s very recent political history there is no denying it is quite a shift to be talking about clarity. But after the decisive majority delivered in the early July elections, and given the ongoing political polarisation in other countries, it is not such a bold statement after all. After having its political midlife crisis early and delivering Brexit as a byproduct, the UK has retreated to the safe refuge of the centre at precisely the same time others are splintering in all directions. France has had to pull out all the stops to suppress the far right, while Germany has a myriad of structural problems. In contrast, Latin America has gone completely the other way, embracing a noticeably hard left doctrine at the same time as Asia, which has the precarious and highly fluid Sino-US relationship to navigate.  Even the US has a leadership crisis of its own, faced with an invidious choice between a freewheeling convicted felon or an incumbent demonstrating a precipitous decline in mental acuity. Set against all this, the UK really does look like a haven of tranquillity, and the JOHCM UK Dynamic strategy should be well-placed to benefit.

The Fund underperformed over the month, with some modest mix effects and some small stock specific negatives being the main factors.

GSK surrendered gains from earlier in the year.  Our view has been that the Zantac litigation and associated liabilities were already more than discounted in the price, masking an improving R&D productivity story and a broadening pipeline of attractive therapeutic assets. Given the Delaware court reversal in the key Daubert case on this issue and the renewed uncertainty this has caused, it is clear that, at least in the short term, this view has proven to be misplaced. Despite strong Q1 results lending clear credence to the core fundamental story, and whilst an appeal has already begun and previous precedents lean heavily in favour of the equity at this juncture, we are not naïve enough to believe recovery can happen in the absence of this being resolved. The shares are clearly very cheap, and the underlying progress is tangible, but we will manage the position size proactively in this period.

WPP underperformed as the market continued to fret over a revival of organic growth and fears of AI-induced fee pressure in the industry. The company has materially lagged behind peers despite demonstrating an elevated rate of innovation at its recent technology showcase and possessing hidden optionality for value release with its Kantar and PR assets. 

On the positive side, NCC performed well and continued on its path to redemption. The business is being reinvigorated by a strong new management team that is returning it to its core competencies, thereby placing it firmly in UK Dynamic territory. It has a skill set that is well equipped for the modern world, in this case, being the world’s leading independent cyber security consultancy. As well as a robust trading update, a well-received mini capital markets day on its Escode and managed security propositions have showcased its enviable armoury of offerings to improve corporate resilience and defences in a world of ever escalating threats. AI is only going to push that in one direction; whether we like it or not companies need to be prepared and NCC is increasingly becoming their partner of choice.
 
Meanwhile further good share price momentum continued at BT and 3i following strong cashflow projections and operating momentum respectively. Both remain significant conviction longs in the portfolio with the former in particular still looking exceptionally cheap and at the very early stages of its revitalisation journey.

This is a marketing communication.

Information on the rights of investors can be found here.

The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

This is a marketing communication.

Information on the rights of investors can be found here.

The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments 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.

Return history (%)

Data as at 10 July 2024

Standardised Performance


Jun 19 - Jun 20 Jun 20 - Jun 21 Jun 21 - Jun 22 Jun 22 - Jun 23 Jun 23 - Jun 24
Fund -24.40% 35.62% 0.53% 7.67% 19.81%

Monthly returns (%)

Data as at 10 July 2024
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2008 -4.56 0.13 5.34 -11.81 -12.26 1.04 7.09 -15.71
Benchmark 2008 -4.15 -2.44 4.35 -14.16 -13.79 0.44 5.13 -23.74
Fund 2009 -4.58 -5.68 2.03 14.63 3.28 -1.08 8.66 10.86 4.95 -1.55 -0.74 4.20 38.43
Benchmark 2009 -5.46 -6.93 1.96 12.12 4.24 -2.94 7.89 7.39 5.20 -0.54 1.39 3.87 29.91
Fund 2010 -2.13 0.22 7.10 0.07 -6.39 -4.75 7.73 -3.06 8.86 4.05 -1.47 6.30 16.13
Benchmark 2010 -3.64 2.89 7.40 -0.89 -5.96 -4.85 7.11 -2.33 8.21 2.07 -1.43 7.14 15.25
Fund 2011 1.97 1.35 -1.56 2.97 0.20 -1.69 -2.18 -9.36 -5.18 9.08 -3.52 0.09 -8.61
Benchmark 2011 -1.18 2.33 -0.15 2.45 -0.47 -1.52 -1.15 -8.36 -3.79 9.97 -4.22 2.67 -4.42
Fund 2012 6.99 6.11 0.64 -1.98 -8.80 5.45 3.22 3.70 3.29 2.71 1.52 2.21 26.94
Benchmark 2012 3.65 4.57 -1.51 -0.15 -6.73 4.24 2.08 2.18 0.97 1.53 1.04 0.91 12.99
Fund 2013 6.87 3.45 1.73 1.13 3.24 -3.47 6.79 -0.16 0.95 4.38 0.65 2.08 30.85
Benchmark 2013 6.40 2.00 1.91 0.44 2.78 -4.84 6.22 -1.34 0.35 4.62 -0.63 1.59 20.66
Fund 2014 -1.26 6.20 -2.92 1.34 0.38 -2.54 1.25 1.90 -2.01 -0.76 2.30 -0.89 2.67
Benchmark 2014 -3.87 5.86 -2.13 1.77 1.72 -1.54 0.15 1.67 -2.48 -0.89 2.36 -1.29 0.93
Fund 2015 2.08 3.90 -0.89 3.47 3.40 -5.18 -0.40 -5.26 -3.86 3.43 1.09 -1.54 -0.43
Benchmark 2015 3.33 3.13 -1.04 2.23 2.55 -5.94 1.15 -5.95 -1.86 5.10 0.63 -1.39 1.25
Fund 2016 -5.23 2.46 1.57 3.47 0.23 -2.32 7.09 3.20 0.95 2.94 -0.04 5.14 20.59
Benchmark 2016 -4.40 1.81 2.29 1.61 0.61 0.32 5.89 2.54 0.71 1.27 -1.05 3.73 16.05
Fund 2017 1.30 2.14 1.87 0.41 4.36 -1.68 0.91 0.32 1.22 2.16 -0.90 2.42 15.38
Benchmark 2017 0.87 2.33 1.29 -0.15 4.58 -2.21 0.62 0.90 -0.06 1.88 -0.69 3.18 13.10
Fund 2018 -0.58 -2.34 -2.39 7.36 2.65 -0.13 -0.03 -2.16 0.30 -6.11 -2.45 -4.74 -10.73
Benchmark 2018 -0.89 -3.34 -2.18 6.78 2.66 -0.14 1.09 -2.30 0.07 -5.03 -1.68 -3.93 -9.06
Fund 2019 6.09 0.47 1.11 4.97 -3.18 2.55 0.51 -3.29 5.22 -1.33 2.30 3.70 20.25
Benchmark 2019 4.59 1.65 2.67 3.16 -3.21 3.65 2.28 -3.40 2.60 -1.28 2.82 2.63 19.29
Fund 2020 -4.71 -10.93 -23.37 6.71 1.56 0.18 -4.96 3.18 -4.64 -1.98 21.10 4.55 -18.05
Benchmark 2020 -2.84 -9.37 -15.89 8.64 2.17 0.72 -2.68 1.55 -2.05 -4.04 14.39 2.85 -9.52
Fund 2021 0.12 5.63 5.07 1.82 3.54 -0.23 1.23 3.35 -2.16 -0.06 -2.21 4.32 21.95
Benchmark 2021 -0.44 2.06 3.73 3.43 1.74 -0.13 0.37 2.65 -0.41 1.32 -2.30 4.68 17.77
Fund 2022 1.21 -2.42 2.29 -1.51 2.72 -5.74 4.27 -3.58 -7.47 5.15 7.91 -0.34 1.34
Benchmark 2022 -0.24 -1.29 2.73 -0.56 1.26 -6.15 3.92 -1.42 -5.72 2.61 7.56 -1.14 0.74
Fund 2023 6.22 2.75 -5.01 3.43 -4.13 -0.43 3.65 -0.92 2.33 -4.27 3.88 4.47 11.76
Benchmark 2023 3.57 2.36 -3.00 2.52 -3.12 0.12 2.61 -2.11 2.17 -4.18 2.61 4.37 7.69
Fund 2024 -1.55 0.31 5.61 2.37 4.14 -1.32 9.73 290.10
Benchmark 2024 -0.99 0.01 4.46 3.19 1.67 -0.35 8.13 170.61

Net yield

Net Yield %
Share class A - accumulating 3.63
Share class A - distributing 3.65
Share class B - accumulating 3.63
Share class B - distributing 3.66

This is a marketing communication.

Information on the rights of investors can be found here.

The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments 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 10 July 2024
Fund size GBP 502.36m
Number of holdings 39

Top 10 holdings and active weights

Data as at 10 July 2024
Top 10 holdings
GSK 5.13%
BP 4.98%
Barclays 4.97%
HSBC 4.35%
Centrica 4.19%
ROLLS-Royce 4.13%
Aviva 4.02%
3i 3.95%
MONY GROUP 3.58%
BT 3.42%
Top 10 active weights
Centrica +3.89%
Barclays +3.66%
MONY GROUP +3.54%
Aviva +3.48%
Johnson Matthey +3.24%
BT +3.05%
WPP +2.82%
3i +2.77%
GSK +2.58%
ROLLS-Royce +2.52%

Sector breakdown

Data as at 10 July 2024
Portfolio Benchmark Relative
Financials 24.98% 24.50% 0.48%
Industrials 11.84% 12.39% -0.55%
Consumer Discretionary 9.90% 10.76% -0.86%
Consumer Staples 9.28% 13.40% -4.12%
Energy 8.15% 11.20% -3.05%
Basic Materials 7.74% 7.05% 0.68%
Health Care 7.21% 11.95% -4.75%
Technology 6.15% 1.35% 4.81%
Utilities 4.19% 3.59% 0.60%
Telecommunications 4.18% 1.21% 2.96%
Real Estate 4.08% 2.60% 1.48%
Cash 2.30% 0.00% 2.30%

Market cap breakdown

Data as at 10 July 2024
Portfolio Benchmark Relative
Large Cap 66.60% 84.27% -17.67%
Medium Cap 26.59% 13.67% 12.92%
Small Cap 4.51% 2.06% 2.45%
Cash 2.30% 0.00% 2.30%

This is a marketing communication.

Information on the rights of investors can be found here.

The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Fund Group

Fund

As at noon Share class Currency Domicile ISIN number NAV per share Change   KIID
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 A Accumulating GBP UK GB00B4T7HR59 3.584 -0.011
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 A Distributing GBP UK GB00B4T85529 2.187 -0.007
UK Equities JOHCM UK Dynamic Fund (offshore) A GBP Ireland IE00BDGKPY39
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 B Accumulating GBP UK GB00B4T7JX59 3.917 -0.013
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 B Distributing GBP UK GB00B4TXJ339 1.958 -0.007
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 K Accumulating GBP UK GB00BQQ84293 1.192 -0.004
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 K Distributing GBP UK GB00BQQ84301 1.14 -0.003
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 L Accumulating GBP UK GB00BPG4DC34 1.141 -0.004
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 L Distributing GBP UK GB00BPG4DD41 1.117 -0.004
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 M Accumulating GBP UK GB00BMBQQY64 1.17 -0.003
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 M Distributing GBP UK GB00BMBQQZ71 1.118 -0.004
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 X Accumulating GBP UK GB00BJ7HNB87 1.401 -0.005
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 X Distributing GBP UK GB00BJ5JMB96 1.144 -0.004
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 Y Accumulating GBP UK GB00BDZRJ101 2.065 -0.009
UK Equities JOHCM UK Dynamic Fund (onshore) 16/07/2024 Y Distributing GBP UK GB00BDZRJ218 1.371 -0.006
UK Equities JOHCM UK Dynamic Fund (offshore) 16/07/2024 Y EUR EUR Ireland IE000UUSWK64 1.155 -0.005
UK Equities JOHCM UK Dynamic Fund (offshore) 16/07/2024 Y GBP GBP Ireland IE00BDGKPZ46 1.139 -0.005
UK Equities JOHCM UK Dynamic Fund (offshore) 16/07/2024 Y USD USD Ireland IE000R902PU3 1.362 -0.007

Dividend Rates

Funds paying quarterly dividends

JOHCM UK Equity Income Fund

Share class Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24
A distributing GBP 3.445 3.141 1.831 2.105 3.272 3.429 1.561 1.710
A accumulating GBP 7.654 7.115 4.227 4.910 7.720 8.243 3.821 4.223
B distributing GBP  3.175 2.890 1.682 1.932 3.000 3.140 1.480 1.561
B accumulating GBP 7.060 6.553 3.888 4.510 7.085 7.553 3.498 3.860
Y distributing GBP 2.327 2.121 1.238 1.424 2.213 2.320 1.056 1.158
Y accumulating GBP 3.092 2.876 1.709 1.932 3.123 3.336 1.547 1.710
X distributing GBP 1.721 1.570 0.915 1.053 1.638 1.717 0.782 0.857
M distributing GBP 0.000 0.000 0.000 0.000 0.000 0.000 0.785 1.005
M accumulating GBP 0.000 0.000 0.000 0.000 0.000 0.000 0.785 1.012

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.

Funds paying semi-annual dividends

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 28 Feb 2024 pence per share 3.388444
A - accumulating GBP 28 Feb 2024 pence per share  5.345332
B - distributing GBP 28 Feb 2024 pence per share  3.046355
B - accumulating GBP 28 Feb 2024 pence per share 5.864666
Y - distributing GBP 28 Feb 2024 pence per share 2.13129
Y - accumulating GBP 28 Feb 2024 pence per share 3.090886
X - distributing GBP 28 Feb 2024 pence per share 1.774937
X - accummulating GBP 28 Feb 2024 pence per share 2.093736
M - distributing GBP 28 Feb 2024 pence per share 1.73384
M - accumulating GBP 28 Feb 2024 pence per share 1.741298
K - distributing GBP 28 Feb 2024 pence per share 1.7720
K - accumulating  GBP 28 Feb 2024 pence per share 1.776166

JOHCM UK Dynamic Fund (Offshore)

Share class Currency Pay date Dividend paid in Dividend rate
Y GBP 28 Feb 2024 pence per share 1.7437
Y EUR 28 Feb 2024 pence per share 1.728
Y USD 28 Feb 2024 pence per chare 2.0475

JOHCM Global Select Shariah Fund 

Share class Currency Pay date Dividend paid in Dividend rate
A USD 28 Feb 2024 pence per share 0.2992

Funds paying annual dividends

Distribution of income occur on or before 28 February

JOHCM Asia ex Japan Fund

Share class Currency Pay date Dividend paid in Dividend rate
Sterling A Shares GBP 28 Feb 2024 pence per share 3.0011
US Dollar A Shares USD 28 Feb 2024 cents per share 2.3900
Euro A Shares EUR 28 Feb 2024 cents per share 2.9114
Sterling B Shares GBP 28 Feb 2024 pence per share 1.5626
US Dollar B Shares USD 28 Feb 2024 cents per share 1.2851
Euro B Shares EUR 28 Feb 2024 cents per share 1.5605
Sterling Z Shares GBP 28 Feb 2024 cents per share 3.6312
US Dollar Z Shares USD 28 Feb 2024 cents per share 2.7222

JOHCM Asia ex Japan Small and Mid Cap Fund

Share class Currency Pay date Dividend paid in Dividend rate
Sterling A Shares GBP 28 Feb 2024 pence per share 0.0000
US Dollar A Shares USD 28 Feb 2024 cents per share 0.0000
Euro A Shares USD 28 Feb 2024 cents per share 0.0000
Sterling B Shares GBP 28 Feb 2024 pence per share 0.0000
US Dollar B Shares EUR 28 Feb 2024 cents per share 0.0000
Euro B Shares USD 28 Feb 2024 cents per share 0.0000
Sterling Z Shares GBP 28 Feb 2024 cents per share 1.56820


JOHCM Continental European Fund

Share class Currency Pay date Dividend paid in Dividend rate
Euro A Shares EUR 28 Feb 2024 pence per share 5.7782
Euro B Shares EUR 28 Feb 2024 cents per share 3.7784
Euro Y Shares EUR 28 Feb 2024 pence per share 2.4506
Sterling A Shares GBP 28 Feb 2024 pence per share 7.1582
Sterling A Shares - Hedge GBP 28 Feb 2024 cents per share 1.3875
Sterling B Shares GBP 28 Feb 2024 cents per share 4.5079
Sterling X Shares GBP 28 Feb 2024 pence per share 1.6701
Sterling Y Shares GBP 28 Feb 2024 pence per share 2.8389
Sterling Y Shares - Hedge GBP 28 Feb 2024 cents per share 1.5828
US Dollar A Shares USD 28 Feb 2024 cents per share 1.8816
US Dollar B Shares - Hedge USD 28 Feb 2024 pence per share 0.9958
US Dollar Y Shares USD 28 Feb 2024 pence per share 1.7692

JOHCM European Select Values Fund

Share class Currency Pay date Dividend paid in  Dividend rate
Sterling A Shares GBP 28 Feb 2024 pence per share 5.5762
Euro A Shares EUR 28 Feb 2024 cents per share 3.5682
Sterling B Shares GBP 28 Feb 2024 pence per share 2.6361
Euro B Shares EUR 28 Feb 2024 cents per share 1.233
Euro X Shares EUR 28 Feb 2024 cents per share 0.5376
Euro Y Shares EUR 28 Feb 2024 cents per share 1.1704


JOHCM Global Emerging Markets Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
Sterling A Shares GBP 28 Feb 2024 pence per share 2.2775
US Dollar A Shares USD 28 Feb 2024 cents per share 1.8887
Euro A Shares EUR 28 Feb 2024 cents per share 2.4749
Sterling B Shares GBP 28 Feb 2024 pence per share 1.4135
US Dollar B Shares USD 28 Feb 2024 cents per share 1.5795
Euro B Shares EUR 28 Feb 2024 cents per share 1.571
Sterling Y Shares GBP 28 Feb 2024 pence per share 2.9977
US Dollar Y Shares USD 28 Feb 2024 cents per share 2.5092
Sterling Z Shares GBP 28 Feb 2024 cents per share 4.4746
Canadian Dollar Z Shares CAD 28 Feb 2024 cents per share 4.0653

JOHCM Global Opportunities Fund (onshore)

Share class Currency Pay date Dividend paid in Dividend rate
A DISTRIBUTING GBP 28 Feb 2024 pence per share 2.411497
A ACCUMULATING GBP 28 Feb 2024 pence per share 2.699908
X DISTRIBUTING GBP 28 Feb 2024 cents per share 2.460528
X ACCUMULATING GBP 28 Feb 2024 cents per share 2.526286
A ACCUMULATING HEDGED GBP 28 Feb 2024 cents per share 2.361961

JOHCM Global Opportunities Fund (offshore)

Share class Currency Pay date Dividend paid in Dividend rate
Sterling A Shares GBP 28 Feb 2024 pence per share 4.1679
US Dollar A Shares USD 28 Feb 2024 cents per share 3.958
Euro A Shares EUR 28 Feb 2024 cents per share 4.5388
Euro A Shares - Hedge EUR 28 Feb 2024 cents per share 1.8065
Sterling B Shares GBP 28 Feb 2024 cents per share 4.0053
US Dollar B Shares USD 28 Feb 2024 cents per share 3.2958
Euro B Shares EUR 28 Feb 2024 cents per share 3.6494
Sterling X Shares GBP 28 Feb 2024 cents per share 3.6351
Euro X Shares EUR 28 Feb 2024 cents per share 2.1128
Sterling X Shares - Hedge GBP 28 Feb 2024 cents per share 1.9782
Sterling Z Shares GBP 28 Feb 2024 cents per share 1.8735
Euro Z Shares EUR 28 Feb 2024 cents per share 2.3066

JOHCM Global Select Fund

Share class Currency Pay date Dividend paid in  Dividend rate
Sterling A Shares GBP 28 Feb 2024 pence per share 2.915
US Dollar A Shares USD 28 Feb 2024 cents per share 1.5321
Euro A Shares EUR 28 Feb 2024 cents per share 2.6999
Sterling B Shares GBP 28 Feb 2024 pence per share 0.0000
US Dollar B Shares USD 28 Feb 2024 cents per share 0.0000
Euro B Shares EUR 28 Feb 2024 cents per share 0.0000
Sterling Z Shares GBP 28 Feb 2024 pence per share 4.2729


JOHCM UK Growth Fund

Share class Currency Pay date Dividend paid in Dividend rate
Sterling A Shares GBP 28 Feb 2024 pence per share 5.1881
Sterling B Shares GBP 28 Feb 2024 pence per share 2.8603
Sterling X Shares GBP 28 Feb 2024 pence per share 2.8694

JOHCM UK Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2024 pence per share 6.322169
A - accumulating GBP 28 Feb 2024 pence per share 10.185733
B - distributing GBP 28 Feb 2024 pence per share 5.90282
B - accumulating GBP 28 Feb 2024 pence per share 9.378544
Y - accumulating GBP 28 Feb 2024 pence per share 4.26672
Y - distributing GBP 28 Feb 2024 pence per share 5.711236

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.

Views & News

  • 11 Jan 2024

    New team to manage JOHCM UK Dynamic Strategy

    We are pleased to announce the evolution of our UK equities capabilities with the creation of a new investment team

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  • 10 Jul 2024

    Under the Bonnet

    The UK has retreated to the safe refuge of the centre

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  • 09 Apr 2024

    Under the Bonnet - There is nothing so stable as change

    Corporate activity continues to drive up returns in the unloved UK equity fund

    Read More
  • 16 Aug 2023

    Catalysts for Change

    Two Initiatives and a Shift in Perception Have the Potential to Catalyse Significant Change in the UK Equity Market. Not Before Time.

    Read More
  • 14 Aug 2023

    Tales of the Unexpected

    Identifying Growth, Embracing Transformation and Discovering Unexpected Market Leaders in the UK

    Read More
  • 23 May 2023

    Revival in M&A shows buyers feasting on UK stocks

    2023 M&A deals look set for a record year as private equity funds and corporates take advantage of the UK’s historically low valuations.

    Read More
  • 20 Apr 2023

    Advocate for UK equities

    The UK has companies that are genuine global leaders but trade at a discount to global markets

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  • 30 Mar 2023

    Comedy Valuations

    Why are so many UK equities priced on laughable valuations?

    Read More
  • 15 Dec 2021

    Under the Bonnet

    A monthly portfolio update from the JOHCM UK Dynamic team on the strategic progress made by their portfolio companies. 

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  • 12 Nov 2021

    Under the Bonnet

    A monthly portfolio update from the JOHCM UK Dynamic team on the strategic progress made by their portfolio companies. 

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  • 19 Oct 2021

    Under the Bonnet

    The third quarter saw good strategic progress, strong results and interesting M&A activity for the JOHCM UK Dynamic portfolio.

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  • 12 Sep 2021

    Under the Bonnet

    A monthly portfolio update from the JOHCM UK Dynamic team in a month where the NASDAQ 100 and S&P500 made new all-time highs.

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  • 15 Aug 2021

    Under the Bonnet

    The UK Dynamic team take a look at a positive month for the Fund in July.

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  • 19 Jul 2021

    Under the Bonnet

    An update from the JOHCM UK Dynamic team in a quarter that saw frenzied bid activity for a number of portfolio holdings. 

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  • 20 Jun 2021

    Takeover talk and growth platforms

    Mark Costar and Vishal Bhatia discuss why the Fund is seeing plenty of M&A activity and describe why they are backing companies that back themselves.

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  • 14 Jun 2021

    Under the Bonnet

    Increasing signs the market is beginning to recognise the undervaluation of some of the Fund’s holdings was aided by another period of strong earnings updates in May.

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  • 13 May 2021

    Under the Bonnet

    A monthly roundup from the JOHCM UK Dynamic team in a month where markets were buoyed by extraordinarily strong economic data. 

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  • 15 Mar 2021

    Under the Bonnet

    Investor confidence grew in February as Covid-19 vaccination roll-outs accelerated. Alex and Tom provide a portfolio update. 

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  • 11 Feb 2021

    Under the Bonnet

    Equity markets were broadly unchanged in January as exuberance over Covid-19 vaccine roll-outs was tempered by concerns for reduced efficacy.

    Read More

Webcasts & Videos

  • Hiding in Plain Sight: Profit From Quiet Disruption

    19 Jul 2024 10:00 AM | 30 mins

  • UK Election Special

    12 Jul 2024 | 31 mins

  • JOHCM UK Dynamic Insight,Outlook

    11 Jul 2024 | 38 mins

  • JOHCM UK Dynamic Insight,Outlook

    11 Jul 2024 | 38 mins

  • Mark Costar

    Senior Fund Manager

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  • Vishal Bhatia

    Senior Fund Manager

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  • Tom Matthews

    Portfolio Manager

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This is a marketing communication.

Information on the rights of investors can be found here.

The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments 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 UK Equity Funds

JOHCM UK Equity Income Fund

Established stock pickers James Lowen and Clive Beagles operate a strict yield discipline: they only buy stocks that they believe will yield more than the FTSE All-Share Index on a prospective basis, although every stock held must also have the potential for capital appreciation. This focus on higher-yielding stocks leads to a naturally cont...

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JOHCM UK Growth Fund

Mark Costar and Vishal Bhatia aim to identify mispriced or undiscovered growth stocks that typically reside in one of three categories: the clear and unassailable market leader, the innovator or market disruptor and the supply side beneficiary. The Fund typically has a small-cap bias and contains stocks that have a high margin of safety...

Read More
JOHCM UK Opportunities Fund

Fund managers Rachel Reutter and Michael Ulrich, supported by experienced analyst Eoghan Reid, run a concentrated portfolio of best-in-class UK large and mid-cap companies.

They invest in companies with reliable cashflows which they expect and encourage management to invest back into their businesses to sustain future growth. The ...

Read More
JOHCM UK Dynamic Fund (offshore)

The team look for business transformation opportunities, under the belief that companies are dynamic and not static. These are companies that are at low points in their lifecycle, where management recognises there is a need for strategic change. These situations are often accompanied by a change in senior management or the board. These compa...

Read More
Back

Summary

This webpage is designed to provide the reader with information about the J O Hambro Capital Management UK Dynamic Fund (“Fund”) in relation to the EU Sustainable Finance Disclosure Regulation or “SFDR” as referred to throughout this disclosure. JOHCM Funds (Ireland) Limited, the Fund’s Manager, has categorised the Fund as meeting the provisions set out in Article 8 of the SFDR. 

The information is required by law and does not form part of the Fund’s marketing materials. Its purpose is to help the reader understand the sustainability objective of this Fund. The reader is advised to read it in conjunction with the Fund’s prospectus that can be found here.

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