JO HAMBRO CM EUROPEAN SELECT VALUES A GBP

  • 530.40p Price (Inc)
  • - Price (Acc)
  • 0.00% 0.00%

    Initial charge
  • 0.75% Annual management charge
  • 0.79% Ongoing charges
  • 0.50% Yield

Fund data last updated 14 November 2019

Fund summary

Sector Europe Including UK
Structure OFFSHORE FUND
Launched May, 2003
Size £1,433m
Yield 0.50%
Charging basis
Dividends paid Acc units only.

Charges

Initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.79%

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Investment process

The aim of the Fund is to achieve long-term capital appreciation through investment in equity securities of companies domiciled or exercising the predominant part of their economic activities in Europe. The portfolio will result from a disciplined bottom-up stock selection process of companies that the investment manager believes to be fundamentally undervalued. The geographical and sector exposure will be a by-product of this process. Preference will be given to companies with high free cashflows, undervalued growth companies, to "franchise" stocks (typically displaying low capital intensity and high return on capital) and to special situations. The portfolio is likely to be quite concentrated with some 40 - 50 names. The investment approach is likely to result in the portfolio having a small and mid cap bias under most circumstances.

Manager research

Average monthly relative returns

Bestinvest MRI

14/15 15/16 16/17 17/18 18/19 3 years 5 years Career 3 years 5 years Career
0.46% 0.49% -0.12% -0.31% -0.98% -0.47% -0.09% 0.33% 3.80% 51.60% 97.60%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Robrecht Wouters

Wouters is Senior Fund Manager of the JOHCM European Select Values Fund. Prior to joining JOHCM, he worked as an investment analyst at Lansdowne Partners. From 1997 until 2001, he worked as a sell side analyst, focusing on European media and then global software. He started his career as an equity analyst in 1990 in Belgium and moved to London in 1995 to join the Dutch equity research team at Smith New Court Europe (now Merrill Lynch). Wouters holds a Masters Degree in Applied Economics from the University of Leuven in Belgium.

Track record

Robrecht Wouters has 11.2 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.33%. During the worst period of relative performance (from August 2016 - September 2019) there was a decline of 17% relative to the index. The worst absolute loss has been 24%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 98%.

Periods of worst performance

Absolute -24.00% (August 2008 - February 2009)
Relative -17.00% (August 2016 - September 2019)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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Key Investor Documents

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