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.

As part of our commitment to managing fund capacity and preserving liquidity, we are no longer marketing the Fund to new intermediaries.

Investment Strategy
  • 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

    small image path
  • Clive Beagles

    Senior 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 annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. The Funds investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Other UK Equity Funds

JOHCM UK Dynamic Fund

Stock picker Alex Savvides aims to profit from understanding and backing positive corporate change, change that is often misunderstood or under-appreciated by the stock market. The Fund may therefore feature a mixture of restructuring/recovery plays, cheap or hidden growth and other more general special situations. The fact that each stock h...

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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 focus firstly on preserving a client’s capital and secondly, on growing that capital. Growth will be achieved over the long term through a concentrated portfolio of low risk business models purchased at attractive valuations. The Fund typically invests in larger companies that operate wit...

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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 30 September 2020
Fund size GBP 1.59bn
Benchmark FTSE All-Share TR 12pm adjusted
Domicile UK
Denomination GBP
Share classes
A accumulating GBP (Launch date) 30-November-2004
A distributing GBP (Launch date) 30-November-2004
B accumulating GBP (Launch date) 30-November-2004
B Distributing GBP (Launch date) 30-November-2004
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 codes
ISIN SEDOL
A Accumulating GBP GB00B03KR500 B03KR50
A Distributing GBP GB00B03KP231 B03KP23
B Accumulating GBP GB00B03KR831 B03KR83
B Distributing GBP GB00B03KR617 B03KR61

Fund ratings and awards

Data as at 30 September 2020
  • 3 Stars
  • Silver
  • 2 star
  • RaynerSpencerMills
  • FEInvest_Approved_logo_yellowBG
Notes

©2020 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Morningstar Overall Ratings and Morningstar Analyst Ratings are as at 30/06/2020.

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 Limited
Transfer agent and registrar RBC Investor Services Limited
Depositary Northern Trust Global Services SE

The information provided on this webpage is for professional advisers only.; The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

The annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. The Funds investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Strategy Highlights

As at 30 September 2020

The Fund underperformed the benchmark in September. The drivers of this underperformance have existed since the start of Covid-19, with defensive parts of the market performing strongly. Our top five sector underweights – pharmaceuticals, equity investment trusts (where the biggest component is the Scottish Mortgage Trust), tobacco, beverages and personal goods, which collectively are close to 30% of the UK market – all outperformed. This was partly due to the risk-off mentality of the market (linked to Covid-19 developments), and partly due to sterling falling in the middle of the month on Brexit concerns. 

Occasionally we see how positively the Fund responds when there is a potential break in the current narrative. For example, the Fund had one of its best ever days in relative performance terms towards the end of the month – it was up c. 135bp after a flicker of Brexit negotiation positivity and a slight rally in sterling. This shows the polarised state of the market, the extremity of market positioning and also highlights the extremely low valuations within the Fund. 

Financials were weak. In the main this was not driven by any specific negative news flow, but rather the general market tone and, in the UK, the moves to step-up Covid-19 restrictions. Barclays and Legal & General were particularly weak. Aviva held up better due to the announcement of asset sales. 

Our paper & packaging stocks Mondi and DS Smith were both up 15% relative to the benchmark. In commodities, oil stocks were weak but this was partly offset by strength in certain mining stocks. The best performer was Kenmare, which announced the successful move of equipment from one mine to another. This complex, high-risk transfer creates a much higher output profile that leaves the stock on a free cash flow yield of over 30%. 

We have an excellent set of exposures in the Fund. Our portfolio companies are increasingly on the front foot after adjusting to the new normal. We have plenty of exposure to parts of the economy that have seen spending shift in their favour, and very limited exposure to the sectors deeply affected by Covid-19. The valuation upside in the Fund is, in our opinion, material, which we hope will flow through in the short to medium term.

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 annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. The Funds investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Fund Reporting

KIIDs
(Key Investor Information Documents)

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 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.

Percentage growth of the fund versus benchmark

Data as at 30 September 2020
A GBP share class, since launch (30 November 2004)

Return history (%)

Data as at 30 September 2020

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. 


Sep 15 - Sep 16 Sep 16 - Sep 17 Sep 17 - Sep 18 Sep 18 - Sep 19 Sep 19 - Sep 20
Fund 10.53% 20.87% 5.64% -4.55% -29.25%

Monthly returns (%)

Data as at 30 September 2020
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2004 3.80 3.80
Benchmark 2004 2.54 2.54
Fund 2005 3.46 1.40 -0.74 -3.46 3.39 4.00 2.93 0.99 1.17 -2.66 6.47 5.46 24.25
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 5.48 1.72 -0.47 -5.55 2.27 0.30 2.29 2.95 2.68 1.15 3.80 21.30
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 0.97 -0.85 2.45 2.10 1.77 -5.62 -2.94 -1.16 -1.65 3.23 -6.61 -0.91 -9.35
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 -8.83 0.93 -2.17 3.18 -0.35 -9.39 -0.08 5.94 -9.48 -12.30 2.85 5.76 -23.34
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 -6.21 -6.05 2.59 16.84 4.01 -2.50 8.16 13.68 5.55 -1.66 -0.33 3.48 40.98
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 -2.17 1.85 6.60 0.68 -6.61 -5.34 6.91 -0.98 7.61 3.63 -2.08 6.82 16.75
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 1.68 1.91 -0.52 3.45 -0.80 -1.20 -1.96 -8.68 -3.97 10.58 -4.75 1.48 -3.95
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 4.31 4.68 1.49 -1.26 -6.54 5.18 2.97 3.99 2.27 2.77 0.77 1.81 24.21
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 6.79 2.59 2.27 1.21 3.76 -3.70 6.70 -1.24 1.88 5.51 -0.33 1.90 30.35
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 -1.87 5.05 -3.03 1.80 1.41 -1.67 0.21 1.84 -2.60 -0.61 1.40 -0.53 1.11
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 1.92 3.80 0.24 3.42 3.43 -5.08 0.43 -5.92 -3.11 4.29 -0.14 -1.66 0.96
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 -5.91 1.80 2.28 2.48 -0.53 -3.14 5.13 5.64 0.46 1.79 0.99 5.27 16.79
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 2.00 1.17 0.87 3.93 -1.27 2.01 -0.08 1.53 2.67 -0.24 3.24 18.11
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 -0.23 -3.20 -1.96 7.60 2.33 -0.93 -0.89 -2.92 0.51 -5.85 -3.09 -4.76 -13.19
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 6.03 1.03 0.91 3.83 -6.05 2.20 -0.95 -4.46 7.73 0.99 3.95 4.08 20.02
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 -4.43 -11.07 -25.30 9.22 0.11 2.01 -6.16 2.03 -4.48 -35.24 164.40
Benchmark 2020 -2.84 -9.37 -15.89 8.64 2.17 0.72 -2.68 1.55 -2.05 -19.86 145.92

Net yield

Net Yield %
Share class A - accumulating 4.64
Share class A - distributing 6.04
Share class B - accumulating 5.89
Share class B - distributing 6.06

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. 

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 annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. The Funds investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Fund statistics

Data as at 30 September 2020
Fund size GBP 1.59bn
Number of holdings 57

Top 10 holdings and active weights

Data as at 30 September 2020
Top 10 holdings
BP 5.23%
Rio Tinto 4.28%
Anglo American 4.27%
Tesco 4.14%
Barclays 4.00%
Glencore 3.71%
Legal & General 3.67%
Vodafone 3.66%
WPP 3.62%
Phoenix Group 3.41%
Top 10 active weights
WPP +3.23%
Phoenix Group +3.22%
Barclays +3.10%
Legal & General +3.07%
ITV +3.05%
Tesco +3.05%
Anglo American +3.04%
Bovis Homes +3.02%
DS Smith +3.00%
BP +2.85%

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 annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. The Funds investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Fund

As at noon Share class Currency Domicile Sedol number NAV per share Change
JOHCM Asia ex Japan Fund 27/10/2020 A GBP Ireland B3RQ272 2.479 0.017
A USD Ireland B435PM6 2.021 0.018
A EUR Ireland B431KK7 2.306 0.019
B GBP Ireland B3ZQS76 2.445 0.018
B USD Ireland BF7NZT0 2.058 0.020
B EUR Ireland B5L49R5 2.342 0.020
Z GBP Ireland B44PG77 1.763 0.012
Z USD Ireland BVG7681 1.353 0.012
JOHCM Asia ex Japan Small and Mid Cap Fund 27/10/2020 A GBP Ireland B6R5LS4 2.357 0.000
A USD Ireland B6R5QW3 2.042 0.004
A EUR Ireland B6R5VD9 1.971 0.002
B GBP Ireland B6R63P8 2.312 -0.001
B USD Ireland B6R5YM9 1.957 0.002
B EUR Ireland B6R5HM0 2.241 0.003
Z GBP Ireland B4X3T62 1.781 -0.001
JOHCM Continental European Fund 27/10/2020 A GBP Ireland 3300912 4.409 -0.028
A USD Ireland BJ4G0G2 1.309 -0.010
A EUR Ireland 3300923 3.395 -0.016
A Hedged GBP Ireland BSJCJ49 1.145 -0.006
B GBP Ireland 3100543 4.246 -0.026
B USD Ireland BJ4G0H3 1.335 -0.006
B EUR Ireland 3300901 3.413 -0.016
Y GBP Ireland B993PD0 1.624 -0.011
Y EUR Ireland B98YKX9 1.309 -0.006
Y Hedged GBP Ireland BSJCJ50 1.198 -0.006
JOHCM European Concentrated Value Fund 27/10/2020 A EUR Ireland BW0DJY9 0.902 -0.004
B USD Ireland BW0DK13 1.041 -0.006
B EUR Ireland BW0DJZ0 0.895 -0.004
Z AUD Ireland BYNJFM8 1.081 -0.007
Z EUR Ireland BYNJFN9 0.832 -0.004
JOHCM European Select Values Fund 27/10/2020 A GBP Ireland 3290422 4.804 -0.063
A EUR Ireland 3290433 2.949 -0.034
B GBP Ireland 3290400 4.394 -0.057
B EUR Ireland 3290411 1.971 -0.024
Non-Distributing EUR Ireland BSFWK51 1.087 -0.013
X EUR Ireland B4K14L9 1.409 -0.017
JOHCM Global Emerging Markets Opportunities Fund 27/10/2020 A EUR Ireland B3ZBLW7 1.404 0.003
A GBP Ireland B4002N4 1.352 0.001
A USD Ireland B4M6CN0 1.138 0.004
B GBP Ireland B41RZ57 1.298 0.001
B USD Ireland B4XXMP2 1.484 0.005
B EUR Ireland B4TRCR0 1.384 0.003
Y GBP Ireland BYSGJY4 1.631 0.002
Y USD Ireland BYSGJZ5 1.384 0.004
Z GBP Ireland B6R54W9 1.707 0.001
Z CAD Ireland BBPK0L2 1.576 -0.004
Z AUD Ireland B5W6ZB6 1.831 0.002
JOHCM Global Income Builder Fund 27/10/2020 GBP Ireland BFZWPH7 1.043 -0.004
A SGD Ireland BFZWPG6 0.975 -0.004
A GBP Ireland BFZWPC2 0.999 -0.003
A USD Ireland BFZWPF5 0.971 -0.002
A EUR Ireland BFZWPD3 0.973 -0.002
B EUR Ireland BFZWPJ9 0.948 -0.002
EUR EUR Ireland BKF2GH9 0.863 -0.002
GBI GBP Ireland BHR0DJ1 0.997 -0.003
HEU EUR Ireland BJGW7C3 0.930 -0.001
JOHCM Global Opportunities Fund (offshore) 27/10/2020 A GBP Ireland B89PQM5 1.986 -0.004
A USD Ireland B89JY23 1.935 0.000
A EUR Ireland B7MR557 2.076 0.000
B GBP Ireland BF7NZS9 2.195 -0.005
B USD Ireland B8295C7 1.849 0.000
B EUR Ireland B80FZF0 1.918 -0.002
IHX EUR Ireland BFZWWX2 0.938 0.000
X GBP Ireland BQVC9L0 1.694 -0.004
X EUR Ireland BMCZLF8 0.991 -0.001
X EUR Ireland BJ5JW42 0.947 0.000
X GBP Ireland BK8M212 0.946 -0.002
X Hedged GBP Ireland BF29TX5 0.997 0.000
Z GBP Ireland B83MS15 0.786 -0.002
Z GBP Ireland BD6R4D6 1.462 -0.003
Z EUR Ireland BDZD4M4 0.929 0.000
JOHCM Global Opportunities Fund (onshore) 27/10/2020 A Accumulating GBP UK BJ5JMC0 0.996 -0.002
A Distributing GBP UK BJ5JMD1 0.981 -0.002
AHA GBP UK BKDV8G1 0.976 0.000
X Accumulating GBP UK BJ5JMF3 0.967 -0.002
X Distributing GBP UK BJ5JMG4 0.977 -0.002
JOHCM Global Select Fund 27/10/2020 A GBP Ireland B3DBRN2 3.900 0.013
A USD Ireland B3T31Z2 2.098 0.012
A EUR Ireland B3DBRP4 3.464 0.016
B GBP Ireland B3DBRL0 3.771 0.012
B USD Ireland B5L7L67 2.401 0.013
B EUR Ireland B3DBRM1 3.363 0.016
Z USD Ireland B4V7J00 2.362 0.011
Z GBP Ireland B3DCMB8 2.807 0.008
JOHCM Japan Fund 27/10/2020 A GBP Ireland B00X0H5 2.199 -0.014
A EUR Ireland 3438880 1.535 -0.008
A Hedged GBP Ireland B5LD7P6 1.441 -0.009
A JPY JPY Ireland 3438891 289.433 -1.862
B GBP Ireland 3438846 2.142 -0.014
B EUR Ireland 3438857 1.485 -0.008
B Hedged GBP Ireland B6386R1 1.464 -0.009
B JPY JPY Ireland 3438868 285.474 -1.860
JOHCM UK Dynamic Fund 27/10/2020 A Accumulating GBP UK B4T7HR5 1.912 -0.021
A Distributing GBP UK B4T8552 1.374 -0.015
B Accumulating GBP UK B4T7JX5 2.129 -0.023
B Distributing GBP UK B4TXJ33 1.253 -0.014
X Accumulating GBP UK BJ7HNB8 0.744 -0.008
X Distributing GBP UK BJ5JMB9 0.715 -0.008
Y GBP Ireland BDGKPZ4 0.716 -0.008
Y GBP UK BDZRJ21 0.861 -0.009
Y Accumulating GBP UK BDZRJ10 1.102 -0.012
JOHCM UK Equity Income Fund 27/10/2020 A Accumulating GBP UK B03KR50 2.719 -0.029
A Distributing GBP UK B03KP23 1.297 -0.014
B Accumulating GBP UK B03KR83 2.527 -0.027
B Distributing GBP UK B03KR61 1.204 -0.013
X Distributing GBP UK BYV9S21 0.646 -0.007
Y GBP UK B95FCK6 0.874 -0.010
Y Accumulating GBP UK B8FCHK5 1.096 -0.012
JOHCM UK Growth Fund 27/10/2020 A GBP Ireland 3300934 2.923 -0.011
B GBP Ireland 3100554 2.530 -0.010
REU EUR Ireland BLLV8D7 1.487 -0.004
RUD USD Ireland BLLV8C6 1.636 -0.003
X USD Ireland BLLV871 1.638 -0.003
X EUR Ireland BLLV8B5 1.465 -0.005
X EUR Ireland BLLV882 1.489 -0.004
X GBP Ireland BLLV893 1.449 -0.005
JOHCM UK Opportunities Fund 27/10/2020 A Accumulating GBP UK B0LLB64 2.805 -0.014
A Distributing GBP UK B3K76Q9 1.886 -0.009
B Accumulating GBP UK B0LLB75 2.627 -0.013
B Distributing GBP UK B3K76P8 1.791 -0.009
X Accumulating GBP UK BQJZQQ5 1.292 -0.006
X Distributing GBP UK B95MSF4 1.063 -0.005
Y GBP UK B95J5C1 1.267 -0.007
Y Accumulating GBP UK B95HP81 1.565 -0.007

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

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

Net dividends quoted in the local share class currency.

If you require the dividends for previous time periods, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled).

Funds paying quarterly dividends

JOHCM UK Equity Income Fund

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

Dividends are quoted and paid in pence per share

XD dates: 31 March, 30 June, 30 September and 31 December
Payment dates: 31 May, 31 August, 30 November and 28 February

The quarterly table above shows the last two years net dividends (on a XD rather than a paid basis) for this fund. If you require the dividends for previous time periods, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled).

Funds paying annual dividends

All funds have a XD date of 31 December 2019 and pay date of 28 February 2020.


JOHCM Asia ex Japan Fund

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

JOHCM Asia ex Japan Small and Mid Cap Fund

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

JOHCM Concentrated Global Share Fund

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

JOHCM Continental European Fund

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

JOHCM European Select Values Fund

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

JOHCM European Concentrated Value Fund

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

JOHCM Global Emerging Markets Opportunities Fund

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

JOHCM Global Opportunities Fund

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

JOHCM Global Select Fund

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

JOHCM Japan Fund

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

JOHCM UK Dynamic Fund

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

JOHCM UK Growth Fund

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

JOHCM UK Opportunities Fund

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

 

Net dividends quoted in the local share class currency.

If you would like more information, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled). Email us at oeicdealing@johcm.co.uk.

Views & News

  • 02 Oct 2020

    UK Equity Income Bulletin

    “Ignore Chicken Licken pessimists” – Andy Haldane, Bank of England chief economist

    Read More
  • 30 Aug 2020

    UK Equity Income Bulletin

    Fund Managers James Lowen and Clive Beagles give a Fund update in a more positive month for UK economic data. 

    Read More
  • 02 Aug 2020

    UK Equity Income Bulletin

    A portfolio update in what was a difficult and disappointing month for the Fund. 

    Read More
  • 02 Aug 2020

    A spotlight on our small caps

    We provide some bottom-up granularity on our small cap exposure.

    Read More
  • 01 Jul 2020

    JOHCM UK Equity Income Fund Dividend Update

    Latest guidance on the Fund dividend from James Lowen and Clive Beagles.

    Read More
  • 30 Jun 2020

    UK Equity Income Bulletin

    A portfolio update from James and Clive in a month which saw a brief value rally. 

    Read More
  • 14 Jun 2020

    The Value Puzzle

    James and Clive break the portfolio down into its sector pieces, highlighting the tremendous value across the Fund.

    Read More
  • 31 May 2020

    UK Equity Income Bulletin

    James Lowen and Clive Beagles review their fund’s performance in May, a month which saw the recovery in global stock markets continue.

    Read More
  • 31 May 2020

    Positioned for recovery

    An update from James and Clive on the Fund's recent performance and their current positioning.

    Read More
  • 04 May 2020

    UK Equity Income Bulletin

    The latest Bulletin from James and Clive with a comprehensive Fund dividend update. 

    Read More
  • 01 Apr 2020

    UK Equity Income Bulletin

    An update from James and Clive in a dramatic month which saw one of the fastest stock market falls in history.

    Read More
  • 19 Mar 2020

    JOHCM UK Equity Income: Mind the Gap 3

    Coronavirus, oil, Fund dividend and value vs. growth redux - an update from James Lowen and Clive Beagles.

    Read More
  • 02 Mar 2020

    UK Equity Income Bulletin

    In a month where markets sold off sharply, Clive and James provide their usual portfolio review and their thoughts on the coronavirus.

    Read More

Webcasts & Videos

  • JOHCM UK Equity Income Fund - Q3 2020

    21 Oct 2020 | 53 mins

  • JOHCM UK Equity Income Fund - Q2 2020

    23 Jul 2020 | 51 mins

  • JOHCM UK Equity Income Fund - Q1 2020

    30 Apr 2020 | 48 mins

  • JOHCM UK Equity Income Fund: making sense of the markets

    26 Mar 2020 | 54 mins

  • James Lowen

    Senior Fund Manager

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  • Clive Beagles

    Senior 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 annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. The Funds investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Other UK Equity Funds

JOHCM UK Dynamic Fund

Stock picker Alex Savvides aims to profit from understanding and backing positive corporate change, change that is often misunderstood or under-appreciated by the stock market. The Fund may therefore feature a mixture of restructuring/recovery plays, cheap or hidden growth and other more general special situations. The fact that each stock h...

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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 focus firstly on preserving a client’s capital and secondly, on growing that capital. Growth will be achieved over the long term through a concentrated portfolio of low risk business models purchased at attractive valuations. The Fund typically invests in larger companies that operate wit...

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