Fact sheet: JOHCM Global Opportunities

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
GLOBAL GROWTH
Sector
FO Equity - International
Fund type
OEIC
Primary aim
GROWTH
Why Money Observer Rates JOHCM Global Opportunities

Rated Fund 2017-2018. Prioritises positive gains and capital protection

This fund won Money Observer's Best Smaller Global Growth Fund award in 2016, and although it underperformed during 2017 we are retaining it as a Rated Fund on the strength of its focus on capital preservation.

Although not officially an absolute return fund, achieving positive gains and capital protection are the managers' main aims ヨ this is what they have in mind when they assess companies' cash flows and business models.

Managers Ben Leyland and Rob Lancastle adopt a ムheads we win, tails we don't lose too much' philosophy. A 19 per cent allocation to cash ヨ the maximum the fund can have ヨ at the end of 2017 highlighted their cautious outlook.

They point to many equity markets being overvalued with little differentiation between richly valued stocks and those that offer better value, making it difficult to find the types of companies they like on valuations they are happy to pay.

Their approach results in some biases, for example towards developed markets, though they can also invest in emerging markets. They tend to invest in certain sectors where they find high-quality intellectual property or brand-driven businesses. They are particularly interested in barriers to entry and franchise value in companies, as this gives them confidence that the businesses will still exist in 10 or 20 years. They also like other characteristics such as recurring revenues.

Only 20 per cent of their investible universe meets their criteria. From these, they select just 25 to 40 holdings. These are sold when they become overvalued, often during rising markets, and cash held until better opportunities come along. As a result, the fund performs best in volatile markets.<\p>

3 Year Performance
Fund Performance42.4%
Average of Rated Funds Group61.4%
Sector Performance18.5%
Fund information
Fund name
JOHCM Global Opportunities A GBP
Fund manager company
JO Hambro Capital Management
Fund type
OEIC
Fund managers
  • Ben Leylandsince 29/06/2012
  • Robert Lancastlesince 01/05/2017
Accolades
Winner - Global Growth - Best Smaller Fund
Fund objective
To generate long-term capital and income growth through active management of a concentrated portfolio of global equities listed on developed and emerging stock markets.
Benchmark
  • MSCI AC World
Investment style
Growth
Investment method
Shares
Quick stats
1 Year return
3.9%
1 Year rank in sector
430/489
Sector
FO Equity - International
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.89%
Fund size
£235m (£319m last year)
Top in this sector
Fund name1 Year
Morg Stnly Gbl Opportunity35.8%
Wellington GblInvtn31%
CS (L) Gbl Rbt Eq31%
PGIM Jnsn Gbl Eqty Opp30.2%
Artisan Global Equity27%
...more in FO Equity - International

Performance snapshot

Holdings snapshot

  • USA29.2%
    Money Market17.7%
    UK13.8%
    Japan12.1%
    Netherlands8.3%
  • Money Market17.7%
    Consumer Staples13.5%
    Industrials13%
    Utilities12.8%
    Consumer Discretionary12.4%
  • US Equities29.2%
    Money Market17.7%
    UK Equities13.8%
    Japanese Equities12.1%
    Dutch Equities8.3%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund4.5%5.8%0.9%3.9%42.4%78.6%
Sector2%1.8%3.7%10.3%18.5%45.2%
Rank within sector146 / 51863 / 511432 / 500430 / 48940 / 39825 / 306
Quartile2nd1st4th4th1st1st
Calendar performance
 YTD - 20182017201620152014
Fund1.1%5.3%27.2%13.7%10.5%
Sector1.4%16.3%7.9%0.7%6%
Rank within sector277 / 507440 / 47938 / 43122 / 37999 / 331
Quartile3rd4th1st1st2nd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
9.37
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.54
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.9
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
9.64
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
9.32
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.71
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.27
Price movement
52 week high1.94
52 week low1.73
Current bid price-
Current offer price-
Current mid price1.87
Region
1USA29.24%
2Money Market17.73%
3UK13.8%
4Japan12.05%
5Netherlands8.26%
6France6.15%
7Italy3.6%
8Portugal3%
9China2.91%
Industry sector
1Money Market17.73%
2Consumer Staples13.5%
3Industrials12.95%
4Utilities12.79%
5Consumer Discretionary12.4%
6Energy7.66%
7Information Technology6.56%
8Materials5.61%
9Health Care4.99%
Asset type
1US Equities29.24%
2Money Market17.73%
3UK Equities13.8%
4Japanese Equities12.05%
5Dutch Equities8.26%
6French Equities6.15%
7Italian Equities3.6%
8Portuguese Equities3%
9Chinese Equities2.91%
Individual holdings
1ORACLE CORP4.03%
2ENEL SPA3.6%
3SAFRAN S.A.3.58%
4SEMPRA ENERGY3.28%
5PUBLIC SERVICE ENTERPRISE GROUP INC3.18%
6COMPASS GROUP PLC3.15%
7WOLTERS-KLUWER NV3.14%
8GALP ENERGIA SGPS3%
9RIO TINTO2.98%
Management
Fund manager group
JO Hambro Capital Management
Fund manager company
JO Hambro Capital Management
Fund type
OEIC
Fund objective
To generate long-term capital and income growth through active management of a concentrated portfolio of global equities listed on developed and emerging stock markets.
Benchmark
  • MSCI AC World
Investment style
Growth
Investment method
Shares
Fund managers
NameSinceBiography
Ben Leyland29/06/2012Ben has been with JOHCM since April 2006, when he joined to work with John Wood on the UK Opportunities Strategy, latterly as a Fund Manager. He was previously at Schroder Investment Management as a Financial Analyst in their Pan-European equity research department. Ben is a CFA Charterholder and holds a MA (Hons) in History from the University of Cambridge. He was voted one of Financial News's '40 under 40' Rising Stars in Asset Management, 2015.
Robert Lancastle01/05/2017Robert has worked on the Fund since launch. He joined JOHCM in 2012 and has 9 years of industry experience.
Compliance
Transparent for Austrian Tax, IA Recognised, Offshore, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, United Kingdom, Ireland, Italy, Liechtenstein, Luxembourg, Netherlands, Norway, Offshore, Singapore, Sweden
JOHCM Global Opportunities A EUR
Initial charge5%
Annual charge0.75%
Min single investment£1,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.89%
Total expense ratio (TER)0.89%
Bid price-
Offer price-
Mid price2.013
CurrencyEUR
Price updated18/05/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeG5PZ
JOHCM Global Opportunities A EUR GBP
Initial charge5%
Annual charge0.75%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.89%
Total expense ratio (TER)0.89%
Bid price-
Offer price-
Mid price1.242
CurrencyGBP
Price updated18/06/2015
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKRUD
JOHCM Global Opportunities A GBP
Initial charge5%
Annual charge0.75%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.89%
Total expense ratio (TER)0.89%
Bid price-
Offer price-
Mid price1.874
CurrencyGBP
Price updated18/05/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeG5PY
JOHCM Global Opportunities A Hedge EUR
Initial charge5%
Annual charge0.75%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeOZAO
JOHCM Global Opportunities A USD
Initial charge5%
Annual charge0.75%
Min single investment£1,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.89%
Total expense ratio (TER)0.89%
Bid price-
Offer price-
Mid price1.889
CurrencyUSD
Price updated18/05/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeG5QA
JOHCM Global Opportunities A USD GBP
Initial charge5%
Annual charge0.75%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.89%
Total expense ratio (TER)0.89%
Bid price-
Offer price-
Mid price0.989
CurrencyGBP
Price updated18/06/2015
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKRUG
JOHCM Global Opportunities B EUR
Initial charge5%
Annual charge1.5%
Min single investment£1,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)1.66%
Total expense ratio (TER)1.66%
Bid price-
Offer price-
Mid price1.907
CurrencyEUR
Price updated18/05/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeG5PW
JOHCM Global Opportunities B EUR GBP
Initial charge5%
Annual charge1.5%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.66%
Total expense ratio (TER)1.66%
Bid price-
Offer price-
Mid price1.231
CurrencyGBP
Price updated18/06/2015
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKRUE
JOHCM Global Opportunities B GBP
Initial charge5%
Annual charge1.5%
Min single investment£1,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)1.66%
Total expense ratio (TER)1.66%
Bid price-
Offer price-
Mid price2.12
CurrencyGBP
Price updated18/05/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeG5PV
JOHCM Global Opportunities B Hedge EUR
Initial charge5%
Annual charge1.5%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeOZAP
JOHCM Global Opportunities B USD
Initial charge5%
Annual charge1.5%
Min single investment£1,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)1.66%
Total expense ratio (TER)1.66%
Bid price-
Offer price-
Mid price1.836
CurrencyUSD
Price updated18/05/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeG5PX
JOHCM Global Opportunities B USD GBP
Initial charge5%
Annual charge1.5%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.66%
Total expense ratio (TER)1.66%
Bid price-
Offer price-
Mid price0.98
CurrencyGBP
Price updated18/06/2015
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKRUF
JOHCM Global Opportunities X GBP
Initial charge-
Annual charge0.63%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.75%
Total expense ratio (TER)0.75%
Bid price-
Offer price-
Mid price1.591
CurrencyGBP
Price updated18/05/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKTLT
JOHCM Global Opportunities X Hedged GBP
Initial charge5%
Annual charge0.63%
Min single investment£100,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.75%
Total expense ratio (TER)0.75%
Bid price-
Offer price-
Mid price1.004
CurrencyGBP
Price updated18/05/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeODFT
Data provided by

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