JOCEX — JOHCM Credit Income Fund

JOCEX Fund Overview

JOCEX — JOHCM Credit Income Fund is a US mutual fund managed by Advisers Investment 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: Advisers Investment Trust
• Category: Emerging Markets Value Equity
• Assets under management: $5.22M
• Ticker: JOCEX
• SEC CIK: 0001516523
• SEC series ID: S000068980
• Share class ID: C000220648

JOCEX Investment Objective and Strategy

JOHCM Credit Income 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 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 in fixed income securities across a wide range of maturities. The securities 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), preferred stock, floating-rate debt, collateralized debt, municipal debt, foreign debt (including in emerging markets), commercial paper, loans and loan participations. The Fund may also invest up to 10% of its net assets in dividend paying common equities of companies of any size. Additionally, the Fund may also invest in foreign debt (including in emerging markets) and/or depositary receipts.

Emerging market countries are those countries included in the MSCI Emerging Markets Index and MSCI Frontier Markets Index, countries with low to middle-income economies according to the International Bank for Reconstruction and Development (more commonly referred to as the World Bank), and other countries with similar emerging market characteristics. The Funds investments in any one sector may exceed 25% of its net assets. 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). The Advisers seeks 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 Advisers seeks to identify investments in companies that produce resilient income streams by primarily evaluating a businesss durability and capacity to avoid permanent impairment of capital; a companys financial position, particularly its cash flow, stability of revenues and cost structure; and an investments corporate and legal structure. 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. Under certain market conditions, the Fund may, for the purposes of hedging, invest in various asset classes that the Adviser believes will protect capital and reduce the overall volatility of the Fund. These asset classes may include, but are not limited to exchange-traded funds that primarily invest in gold and precious metals; inflation-linked investments; and currency hedging instruments such as currency forward contracts and currency futures.

The Fund may also use hedging and derivative instruments to reduce certain risk exposures present in the Funds holdings.

JOCEX Costs and Fees

JOCEX costs about $69 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.69%
• Gross expense ratio: 5.19%
• Portfolio turnover: 6%
• Brokerage commissions: 2.29 bps of average net assets (SEC N-CEN)

JOCEX Cashflows

Over the 12 months to 2021-06, JOHCM Credit Income Fund had net inflows of $5.13M, from monthly SEC N-PORT filings.

JOCEX Debt Constituents

No individual debt constituents are reported in JOHCM Credit Income Fund's latest SEC N-PORT filing.

JOCEX Prospectus and SEC Filings

Official JOHCM Credit Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2021-01-27
• Prospectus supplement (497) — filed 2020-09-22
• Portfolio holdings (N-PORT) — filed 2021-08-27
• Portfolio holdings (N-PORT) — filed 2021-05-14
• Portfolio holdings (N-PORT) — filed 2021-02-25
• Annual census (N-CEN) — filed 2020-12-11

Related Funds

Other Emerging Markets Value Equity funds tracked on ABC INVEST:

• iShares Emerging Markets Dividend ETF (DVYE)
• SPDR® S&P® Emerging Markets Dividend ETF (EDIV)
• Cambria Emerging Shareholder Yield ETF (EYLD)
• Fidelity Emerging Markets Multifactor ETF (FDEM)
• VictoryShares Emerging Markets Value Momentum ETF (UEVM)

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.