JOHCM plans high-conviction Global Opportunities fund

JO Hambro Capital Management (JOHCM) is to launch a Global Opportunities fund for Ben Leyland, assistant manager on the top-performing UK Opportunities fund, by the end of Q2.

Like the UK version, it is likely to hold between 30 and 40 high-conviction stocks based on long-term trends identified by the manager. It will also be capped at a certain level and carry a performance fee, like all JOHCM’s retail OEICs (open ended investment companies).

Leyland has been supporting former Newton manager John Woods on the UK Opportunities fund since joining JOHCM in 2006. He previously worked at Schroders in the equity research department.

The pair, along with analyst Michael Hogg, have led the fund to the top quartile of the performance tables over the past year.

It has returned 15.9% in the 12 months to 16 March, ranking it ninth out of 287 funds, according to Morningstar. It has also amassed £871m in assets under management and is capped at £1bn.

Woods recently answered critics who said his portfolio is ultra-defensive and would only outperform in down markets.

“The fund’s outperformance in the favourable market conditions of February hopefully underlines that a portfolio containing high quality companies, that reinvest shrewdly to create compounding growth, should be capable of outperformance in most market conditions and irrespective of the economic climate,” he said.

The fund follows a series of launches from the group over the past 18 months, including vehicles focused on Europe, emerging markets and Asian equities. It will be soft-launched in June.


This article was first published on Investment Week

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