JOHCM US Small Mid Cap Equity Fund

C000147325 Fund Overview

JOHCM US Small Mid Cap Equity Fund is a US mutual fund managed by Advisers Investment Trust, categorised as Developed ex-US Mid Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Advisers Investment Trust
• Category: Developed ex-US Mid Cap Blend / Core Equity
• Assets under management: $7.74M
• SEC CIK: 0001516523
• SEC series ID: S000047090
• Share class ID: C000147325

C000147325 Investment Objective and Strategy

JOHCM US Small Mid Cap Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Advisers Investment Trust.

Investment objective

The investment objective of the JOHCM US Small Mid Cap Equity Fund (the “Fund”) is to seek long-term capital appreciation.

Principal investment strategy

The Fund invests, under normal circumstances, at least 80% of its assets (net assets plus the amount of borrowings for investment purposes) in U.S. equity securities with small and medium market capitalizations. Shareholders will be given 60 days advance notice of any change to this policy. Equity securities consist of common and preferred stock, rights and warrants. Small and medium capitalization companies generally are defined as companies with market capitalizations, at the time or purchase, below US $10 billion or in the range of those market capitalizations of companies included in the Russell 2500 Index at the time of purchase. The Russell 2500 Index is reconstituted annually each June. The capitalization range of the Russell 2500 Index is between $14.8 million and $14.4 billion as of December 31, 2017.

The size of the companies included in the Index will change with market conditions. The Fund may invest more than 25% of its total assets in one or more industry or group of industries provided the industry or group of industries represent 20% or more of a widely recognized and unaffiliated index against which the Fund measures investment performance. In no event may the Fund invest more than 35% of its total assets in any one industry. The Fund also may invest up to 10% of its total assets in American Depositary Receipts (ADRs) of foreign companies. ADRs are typically issued by a U.S. bank or trust company and evidence ownership of underlying securities issued by a foreign corporation. The Fund may invest in exchange-traded funds (ETFs) in order to equitize cash balances by gaining exposure to relevant equity markets.

Cash is equitized when it is invested in instruments, such as ETFs, that expose it to the equity markets, and the returns possible in the equity markets, while maintaining the liquidity provided by cash. The Adviser manages the Fund using a team-managed strategy that focuses on specialization across the equity markets and throughout the investment process. The Adviser uses a fundamental, bottom-up research approach to identify companies that the Adviser believes present the greatest investment opportunities. Bottom-up research utilizes techniques such as fundamental analysis to assess growth and value potential. In conducting fundamental analysis of companies that are being considered for purchase by the Fund, the management team will evaluate, among other things, the financial condition and management of a company, its industry, competitor analysis and the interrelationship of these variables over time.

The Adviser may without limitation analyze financial data and other information sources and conduct company interviews. The Funds sector weightings are a residual consequence of this bottom-up stock picking process.

C000147325 Costs and Fees

C000147325 costs about $99 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.99%
• Gross expense ratio: 3.51%
• Portfolio turnover: 66%
• Brokerage commissions: 4.53 bps of average net assets (SEC N-CEN)

C000147325 Cashflows

Over the 12 months to 2019-09, JOHCM US Small Mid Cap Equity Fund had net inflows of $0, from monthly SEC N-PORT filings.

C000147325 Debt Constituents

No individual debt constituents are reported in JOHCM US Small Mid Cap Equity Fund's latest SEC N-PORT filing.

C000147325 Prospectus and SEC Filings

Official JOHCM US Small Mid Cap Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2019-02-08
• Prospectus (485BPOS) — filed 2018-02-02
• Prospectus (485BPOS) — filed 2017-02-03
• Portfolio holdings (N-PORT) — filed 2019-11-25
• Annual census (N-CEN) — filed 2019-12-09
• Annual census (N-CEN) — filed 2018-12-11

Related Funds

Other Developed ex-US Mid Cap Blend / Core Equity funds tracked on ABC INVEST:

• International Growth and Income Fund (IGAAX)
• Fidelity Advisor International Capital Appreciation Fund (FCPAX)
• Fidelity International Discovery Fund (FIGRX)
• Dimensional International High Profitability ETF (DIHP)
• Victory International Fund (USIFX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.