JOHCM Credit Income Fund
Data updated: 2023-12-08
C000224772 — JOHCM Credit Income Fund. Emerging Markets Value Equity · $4.07M AUM · 0.70% expense ratio. Holdings, fees, performance and SEC filings.
C000224772 Fund Overview
JOHCM Credit Income Fund is a US mutual fund managed by Perpetual Americas Funds Trust, categorised as Emerging Markets Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Perpetual Americas Funds Trust
- Category: Emerging Markets Value Equity
- Assets under management: $4.07M
- 1-year return: -2.3%
- SEC CIK: 0001830437
- SEC series ID: S000070689
- Share class ID: C000224772
C000224772 Investment Objective and Strategy
JOHCM Credit Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Perpetual Americas Funds Trust.
Investment objective
The investment objective of the JOHCM Credit Income Fund (the Fund) is to preserve capital and deliver returns through a combination of income and modest capital appreciation.
Principal investment strategy
The Fund invests, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in fixed income securities. The fixed income investments give exposure to a wide range of maturities and can include investment grade corporate debt, high yield securities (higher risk, lower rated fixed income securities rated below BBB- by S&P or below Baa3 by Moodys, also known as junk bonds), convertible bonds (including contingent convertible bonds), floating-rate debt, collateralized debt, municipal debt, non-U.S. debt (including in emerging markets), commercial paper, loans and loan participations. The Fund may also gain exposure to up to 10% of equity securities, including through depositary receipts, issued by companies of any size. The Fund expects to invest in preferred stock, which it considers similar to fixed income securities (including for purposes of the 80% test above).
The Fund intends to invest in non-U.S. debt (including in emerging markets). The Fund may also seek to obtain exposure to fixed income investments through investments in affiliated or unaffiliated investment companies, including exchange-traded funds (ETFs) and closed-end funds. The portfolio managers seek to build a portfolio that reflects their investment views across the fixed income markets that is consistent with the Funds objective of preserving capital and delivering returns through a combination of income and modest capital appreciation. The portfolio managers seek to identify resilient income streams by evaluating credit investments on factors such as: (1) a businesss durability and capacity to avoid permanent impairment of capital; (2) a companys financial position, particularly its cash flow, stability of revenues and cost structure; and (3) an investments corporate and legal structure.
The Fund typically invests across a wide range of maturities. As market conditions change, the volatility and attractiveness of sectors, securities, and strategies can change as well. To optimize the Funds risk/return, the portfolio managers may dynamically adjust the mix of different asset class exposures. The Fund retains the flexibility to enter into derivatives transactions and various other hedging assets that the portfolio managers believe will reduce the overall volatility of the Fund, protecting capital, in certain market environments. The Fund may also use hedging and derivative instruments to reduce certain risk exposures present in the Funds holdings. The Fund may also engage in short sales or take short positions for hedging or other investment purposes. The Fund is permitted to invest in contingent securities structured as contingent convertible securities also known as CoCos.
A contingent convertible security is a hybrid debt security either convertible into equity at a predetermined share price or written down in value based on the specific terms of the individual security if a pre-specified trigger event occurs (the Trigger Event), such as a decline in the issuers capital below a specified threshold or increase in the issuers risk-weighted assets. When the portfolio managers believe that asset prices are attractive (for example, during widespread market selloffs), the portfolio managers may use leverage in an amount up to 15% of the Funds total assets in order to increase market exposure and pursue additional investments in such assets. Additionally, as part of the research process, the portfolio managers consider financially material environmental, social and governance (ESG) factors, including potential impacts on the long-term risk and return profile of a company.
Such factors, alongside other relevant factors, may be taken into account in the Funds securities selection process.
C000224772 Performance
Total returns for C000224772 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -2.3% |
C000224772 Risk Information
Risk metrics for C000224772, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 7.6%
C000224772 Costs and Fees
C000224772 costs about $70 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.70%
- Gross expense ratio: 2.33%
- Portfolio turnover: 48%
- Brokerage commissions: 0.61 bps of average net assets (SEC N-CEN)
C000224772 Cashflows
Over the 12 months to 2023-03, JOHCM Credit Income Fund had net inflows of $2.21M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-03 | $1.45M |
| 2023-02 | $4.57K |
| 2023-01 | $675.36K |
| 2022-12 | $4.23K |
| 2022-11 | $4.22K |
| 2022-10 | $4.94K |
C000224772 Debt Constituents
No individual debt constituents are reported in JOHCM Credit Income Fund's latest SEC N-PORT filing.
C000224772 Prospectus and SEC Filings
Official JOHCM Credit Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-01-27
- Prospectus (485BPOS) — filed 2022-01-28
- Prospectus supplement (497) — filed 2021-07-19
- Portfolio holdings (N-PORT) — filed 2023-05-25
- Portfolio holdings (N-PORT) — filed 2023-02-27
- Portfolio holdings (N-PORT) — filed 2022-11-21
- Annual census (N-CEN) — filed 2023-12-08
- Annual census (N-CEN) — filed 2022-12-13
Related Funds
Other Emerging Markets Value Equity funds tracked on ABC INVEST:
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.