JOHCM UK Equity Income Fund

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Fund Description

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 contrarian style. Unlike many UK equity income funds, the fund managers have a track record of adding significant value from small and mid-cap holdings.

This fund is not available to new investors from the European Union after 31 December 2020

  • A naturally contrarian investment process
  • A strict yield discipline: every stock must yield more than FTSE All Share-Index on a prospective basis
  • All cap approach: the Fund invests in small, mid and large-cap stocks
  • A total return emphasis: the Fund seeks both capital appreciation and income growth over time.
Reasons To Invest
  • Robust dividend discipline and strong growth in the Fund's dividend over time
  • A naturally contrarian approach means the portfolio's profile is unlike that of many rival UK equity income funds
  • James Lowen

    Senior Fund Manager

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  • Clive Beagles

    Senior Fund 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 Dynamic Fund (onshore)

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...

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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 Fund aims to achieve long-term capital growth and to generate a dividend yield that is above that of the FTSE All-Share Index average. The Fund focuses predominantly on stocks within the FTSE 350 Index that generate a prospective yield above that of the FTSE All-Share Index average. The Fund's performance benchmark is the FTSE All-Share Total Return Index denominated in sterling.Please note that for capacity reasons the Fund is now 'soft-closed' to new direct investors.

Fund details

Data as at 31 March 2024
Fund size GBP 1.56bn
Benchmark FTSE All-Share TR 12pm adjusted
Domicile UK
Denomination GBP
Share classes

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

Fund ratings and awards

Data as at 31 March 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 The Northern Trust Company (UK Branch)
Depositary Northern Trust Investor Services 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 31 March 2024

The Swiss Central Bank became the first authority in a major developed nation to cut interest rates during this economic cycle. Trends elsewhere in the world suggest that other central banks will not be too far behind, with the UK possibly easing its policy before the Federal Reserve and the European Central Bank (ECB). The rate of UK inflation continues to fall, with the February CPI print of 3.4% (compared to 4.0% in January), with goods inflation only running at 1.1% vs 13.4% a year ago. Food inflation peaked at almost 20% in March 2023 but is now at 5% and likely to slow further in the coming months. Regular readers know that this 3.4% CPI print is merely a stepping stone on the path to below 2% within a couple of months as base effects continue to have a powerful impact.

The UK stock market was strong in March (with the FTSE All Share up 4.46%). Within this overall positive trend, there was a decisive change in market leadership, which benefited the Fund. The Fund was up 7.89% - outperforming the market by 3.28%. Year-to-date, the Fund is up 5.54% compared to the market, which is up 3.43%. 

The leadership change seen during March was driven by the confluence of positive factors; lower inflation, clear signs that central banks will cut rates and a gradual upswing in growth have created a more constructive backdrop. This shift has led to a performance reversal of the previously strong defensive sectors, which we believe are still overpriced. Conversely, cyclical sectors, the financial and commodity sectors (i.e. where the Fund is present) are now outperforming. Additionally, an increase in M&A, along with a very strong results season in aggregate, have also contributed to this mix shift. We added two new stocks to the Fund: Centrica and Morgan Advanced Materials. The decision aligns with a key theme from the results season, which was also a takeaway from our meeting with the CEO of BP post their results. This discussion highlighted the anticipated surge in demand for electricity (and other energy sources) due to developments such as AI/datacentre requirements. Morgan Advanced Materials is a global market leader in the production of advanced carbon and ceramic materials and has been on our radar for the last ten years, but we have never acquired it. These materials are poised to benefit significantly from the anticipated rise in electricity use.

One swallow does not make a summer, but we are encouraged by the change of leadership and tone in the market in March. Falling inflation has seen the market anticipate changes in the economic outlook, whilst many companies with very low valuations have started to take action on their businesses to highlight and release value, with TP ICAP and ITV prime examples this month. Finally, whilst the Fund had a strong March, the average UK equity income fund actually underperformed the index this month. We have highlighted before that there are very few funds or strategies in the market with a genuine value bias anymore as style drift has proliferated across the board. We think investors should ensure they have a healthy allocation to UK equity funds and have exposure to the right kind of UK equity fund, which will benefit from the UK market coming out of the wilderness.        

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.

Percentage growth of the fund versus benchmark

Data as at 31 March 2024
A GBP share class, since launch (30 November 2004)

Return history (%)

Data as at 31 March 2024

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 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. 


Mar 19 - Mar 20 Mar 20 - Mar 21 Mar 21 - Mar 22 Mar 22 - Mar 23 Mar 23 - Mar 24
Fund -29.89% 49.13% 10.63% -0.95% 10.18%

Monthly returns (%)

Data as at 31 March 2024
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2004 3.74 3.74
Benchmark 2004 2.54 2.54
Fund 2005 3.45 1.37 -0.77 -3.49 3.35 3.96 2.88 0.93 1.13 -2.65 6.47 5.43 23.82
Benchmark 2005 1.70 2.99 -0.98 -2.61 4.15 3.25 3.48 0.83 3.47 -3.40 4.38 3.20 22.03
Fund 2006 3.29 5.45 1.66 -0.49 -5.60 2.25 0.26 2.24 2.91 2.63 1.13 3.77 20.83
Benchmark 2006 3.24 2.00 3.14 1.01 -5.67 2.79 1.55 0.59 1.51 2.90 0.38 2.56 16.85
Fund 2007 0.93 -0.88 2.41 2.07 1.73 -5.65 -2.97 -1.23 -1.69 3.19 -6.69 -1.00 -9.86
Benchmark 2007 0.07 0.22 2.45 2.85 2.90 -2.07 -2.65 -0.45 1.96 4.00 -4.38 0.55 5.22
Fund 2008 -8.88 0.89 -2.22 3.12 -0.37 -9.43 -0.13 5.90 -9.52 -12.34 2.81 5.72 -23.74
Benchmark 2008 -10.33 3.18 -2.53 5.65 0.99 -8.21 -2.44 4.35 -14.16 -13.79 0.44 5.13 -29.74
Fund 2009 -6.25 -6.09 2.54 16.79 3.98 -2.56 8.11 13.64 5.50 -1.66 -0.36 3.45 40.36
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 -2.20 1.83 6.56 0.64 -6.65 -5.37 6.86 -1.03 7.57 3.60 -2.11 6.78 16.25
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 1.64 1.88 -0.55 3.42 -0.85 -1.24 -1.99 -8.72 -4.01 10.53 -4.79 1.43 -4.42
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 4.27 4.61 1.49 -1.30 -6.55 5.12 2.86 4.03 2.20 2.76 0.70 1.73 23.56
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 6.76 2.55 2.22 1.17 3.74 -3.73 6.62 -1.25 1.84 5.46 -0.34 1.87 29.82
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 -1.91 5.04 -3.09 1.76 1.36 -1.75 0.19 1.85 -2.72 -0.56 1.28 -0.52 0.64
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 1.90 3.73 0.25 3.37 3.43 -5.13 0.42 -5.93 -3.15 4.28 -0.25 -1.71 0.52
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 -5.96 1.77 2.21 2.46 -0.55 -3.23 5.11 5.63 0.38 1.76 0.95 5.30 16.26
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 1.05 1.89 1.14 0.98 3.76 -1.20 2.01 -0.14 1.48 2.66 -0.28 3.21 17.74
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 -0.27 -3.23 -1.99 7.58 2.26 -0.94 -0.97 -2.97 0.46 -5.87 -3.15 -4.77 -13.61
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 5.95 0.98 0.88 3.77 -6.07 2.17 -1.02 -4.47 7.61 0.95 3.89 4.04 19.32
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 -4.46 -11.13 -25.32 9.15 0.08 1.97 -6.21 2.02 -4.54 -1.42 25.59 5.00 -16.14
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 -0.72 7.25 5.91 2.89 2.64 -1.89 0.94 2.89 -0.08 1.81 -4.34 5.12 24.13
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 2.32 -3.10 1.37 -1.46 2.98 -9.47 4.34 -1.81 -7.68 4.76 8.90 -1.01 -1.36
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 6.54 2.28 -7.39 0.94 -4.42 0.13 4.75 -2.23 3.12 -8.27 4.68 6.67 5.47
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 -2.23 7.83 5.43 335.00
Benchmark 2024 -0.99 0.01 4.46 3.43 266.89

Net yield

Net Yield %
Share class A - accumulating 5.04
Share class A - distributing 5.17
Share class B - accumulating 5.06
Share class B - distributing 5.22

Source and notes

JOHCM/FTSE Group/Bloomberg/Lipper.

Data shown net of fees, net income reinvested. Please note that all fund performance is shown against the FTSE All-Share TR 12pm adjusted. Performance of other share classes may vary and is available on request.Where shown, monthly returns table shows compounded discrete monthly performance.

FTSE International Limited (“FTSE”) © FTSE 2017. The Industry Classification Benchmark (“ICB”) and all  rights in it are owned by and vest in FTSE and/or its licensors. “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. Neither FTSE, nor its licensors accept any liability for any errors or omissions in the ICB. No further distribution of ICB is permitted without FTSE’s express written consent.

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. 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. 

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 31 March 2024
Fund size GBP 1.56bn
Number of holdings 60

Top 10 holdings and active weights

Data as at 31 March 2024
Top 10 holdings
BP 5.84%
Glencore 4.36%
Barclays 4.01%
Natwest 3.58%
Aviva 3.52%
Standard Chartered 3.30%
Phoenix Group 3.29%
DS Smith 3.15%
Legal & General 3.10%
ITV 3.05%
Top 10 active weights
Phoenix Group +3.12%
Natwest +2.98%
Aviva +2.95%
ITV +2.94%
DS Smith +2.93%
Barclays +2.85%
Standard Chartered +2.68%
Legal & General +2.46%
BP +2.33%
WPP +2.23%

Sector breakdown

Data as at 31 March 2024
Portfolio Benchmark Relative
Financials 33.17% 23.64% 9.53%
Industrials 20.78% 12.61% 8.18%
Consumer Discretionary 15.74% 12.43% 3.31%
Energy 10.92% 11.01% -0.09%
Basic Materials 9.64% 6.75% 2.90%
Real Estate 3.39% 2.61% 0.77%
Utilities 2.22% 3.49% -1.27%
Consumer Staples 1.51% 13.56% -12.05%
Telecommunications 1.45% 1.12% 0.33%
Technology 0.00% 1.37% -1.37%
Health Care 0.00% 11.43% -11.43%
Cash 1.19% 0.00% 1.19%

Market cap breakdown

Data as at 31 March 2024
Portfolio Benchmark Relative
Large Cap 51.30% 84.09% -32.79%
Medium Cap 33.27% 13.83% 19.44%
Small Cap 14.25% 2.08% 12.17%
Cash 1.19% 0.00% 1.19%

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 Equity Income Fund 19/04/2024 A Accumulating GBP UK GB00B03KR500 4.76 -0.025
UK Equities JOHCM UK Equity Income Fund 19/04/2024 A Distributing GBP UK GB00B03KP231 1.909 -0.01
UK Equities JOHCM UK Equity Income Fund 19/04/2024 B Accumulating GBP UK GB00B03KR831 4.347 -0.023
UK Equities JOHCM UK Equity Income Fund 19/04/2024 B Distributing GBP UK GB00B03KR617 1.742 -0.009
UK Equities JOHCM UK Equity Income Fund 19/04/2024 M Accumulating GBP UK GB00BRJRX676 1.142 -0.005
UK Equities JOHCM UK Equity Income Fund 19/04/2024 M Distributing GBP UK GB00BRJRX783 1.123 -0.006
UK Equities JOHCM UK Equity Income Fund 19/04/2024 X Distributing GBP UK GB00BYV9S217 0.9576 -0.005
UK Equities JOHCM UK Equity Income Fund 19/04/2024 Y Accumulating GBP UK GB00B8FCHK57 1.928 -0.01
UK Equities JOHCM UK Equity Income Fund 19/04/2024 Y Distributing GBP UK GB00B95FCK64 1.293 -0.007

Dividend Rates

Funds paying quarterly dividends

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.
 

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 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

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
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.

Views & News

  • 13 Apr 2024

    A Shrinking Market Brings Short-term Gains But Longer-term Pains

    As buybacks, M&A and transfers to the US slowly but surely reduce the UK equity market, short-term benefits will turn into long-term costs

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  • 02 Apr 2024

    UK Equity Income Bulletin

    UK cyclicals rally as the Bank of England turns dovish

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  • 01 Mar 2024

    UK Equity Income Bulletin

    Strong Results and Easing Rates Fuel Potential UK Market Recovery

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  • 01 Feb 2024

    UK Equity Income Bulletin

    In a resilient UK economy defying bearish sentiments, a rebound is anticipated as inflation eases, real wages climb and consumer confidence soars

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  • 02 Jan 2024

    UK Equity Income Bulletin

    Falling inflation and positive GDP growth signal a shift, creating opportunities in undervalued UK stocks amid monetary policy easing

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  • 01 Dec 2023

    UK Equity Income Bulletin

    As UK inflation declines, an optimistic economic outlook and a stable political landscape could help attract international investors 

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  • 20 Nov 2023

    Inflation Relief

    With receding inflation, UK equities anticipate a resurgence

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  • 01 Nov 2023

    UK Equity Income Bulletin

    Navigating Heightened Risk Aversion Amid Rising US Yields and Middle East Dynamics

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  • 02 Oct 2023

    UK Equity Income Bulletin

    UK Inflation Eases and the Equity Market Signals Turnaround

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  • 13 Sep 2023

    Future Money

    Yields are high and valuations are low – is now the time to reconsider investing in UK equity income?

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  • 01 Sep 2023

    UK Equity Income Bulletin

    Robust UK Dividend Growth, Strong Valuations, and Excess Capital Make Equities a Compelling Alternative to Bonds

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  • 01 Aug 2023

    UK Equity Income Bulletin

    Amidst an unexpected beat in UK inflation, the market makes a pivot while global valuations diverge

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  • 27 Jul 2023

    Global Income at a UK Discount

    In a new webinar, Clive Beagles, senior fund manager, JOHCM UK Equity Income, examines the compelling valuations on three quite different stocks

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  • 02 Jul 2023

    UK Equity Income Bulletin

    UK inflation exceeded expectations, but the Fund offers attractive growth and robust dividends

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Webcasts & Videos

  • JOHCM UK Equity Income Fund Q1 2024 Update

    30 Apr 2024 09:00 AM | 60 mins

  • JOHCM UK Equity Income Fund Q1 2024 Update

    30 Apr 2024 09:00 AM | 60 mins

  • Trigger Warning – the Rush for Post-Peak UK

    23 Feb 2024 | 31 mins

  • JOHCM UK Equity Income Fund Q4 2023 Update

    08 Feb 2024 | 42 mins

  • James Lowen

    Senior Fund Manager

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  • Clive Beagles

    Senior Fund 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 Dynamic Fund (onshore)

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...

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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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