# Performance highlights
Return since launch (%)
100
90
80
- Fund - A Acc EUR
- Benchmark7060	As this Fund was launched less than one year ago, its performancehistory is not long enough to be meaningful.

50
40
Total strategy assets updated quarterly and shown as at 30 September 2022.
|  |  | Saurabh Sharma Fund Manager Saurabh has worked on the Fund since launch. He joined JOHCM in |
| --- | --- | --- |
| 2021 and has 12 years of industry experience. |

Benchmark	-	-	-	-	-	-	-	-
A Acc EUR	-	-	-	-	-
Past performance is no guarantee of future performance.
The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. For further information on risks please refer to the Fund’s KIID and/or the Prospectus. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. The Fund’s investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile. NAV of Share Class A in EUR, net income reinvested, net of fees. The A EUR Class was launched on 13 December 2021. Performance of other share classes may vary and is available on request.
*Annualised since launch.
Portfolio analysis (%)	
Data as at 30 November 2022
|  | Top 10 holdings |  |
| --- | --- | --- |
| Stock | Theme | Company Description | Absolute |  |
| Evoqua | Water | Evoqua Water Technologies Corp. provides water treatment equipment and | 3.6 |  |
|  |  | services. The Company offers filter press, intake rebuilds, and |  |  |
|  |  | electrocatalytic services, as well as sludge dryers, digester covers, |  |  |
|  |  | captivator systems, and other related technologies to the industrial, |  |  |
|  |  | commercial, and municipal water treatment markets. Evoqua Water Technologies |  |  |
|  |  | serves customers worldwide. |  |  |
| Veolia | Water | Veolia is a global leader in environmental services and offers a complete range | 3.4 |  |
|  |  | of solutions for Ecological transformation, managing water, waste, and energy |  |  |
|  |  | on five continents. Through its three complementary business activities, Veolia |  |  |
|  |  | helps to develop access to resources, preserve available resources, and to |  |  |
|  |  | replenish them. Veolia has an international footprint and generates the |  |  |
|  |  | majority of its revenue from customers outside France. |  |  |
| Waste | Waste | Waste Connections, Inc. provides non-hazardous solid waste collection services | 3.3 |  |
| Connections |  | for commercial, industrial and residential customers. The Company offers |  |  |
|  |  | collection, landfill disposal, and recycling services for various recyclable |  |  |
|  |  | materials, including compost, cardboard, office paper, plastic containers, |  |  |
|  |  | glass bottles, and ferrous and aluminum metals. |  |  |
| American Water | Water | American Water Works Co., Inc. provides drinking water, wastewater, and other | 3.2 |  |
|  |  | water-related services in multiple states and Ontario, Canada. The Company’s |  |  |
|  |  | primary business involves the ownership of regulated water and wastewater |  |  |
|  |  | utilities that provide water and wastewater services to residential, |  |  |
|  |  | commercial, and industrial customers. |  |  |
| Waste Management | Waste | Waste Management, Inc. provides waste management services including collection, | 3.2 |  |
|  |  | transfer, recycling, resource recovery, and disposal services, and operates |  |  |
|  |  | waste-to-energy facilities. The Company serves municipal, commercial, |  |  |
|  |  | industrial, and residential customers throughout North America. |  |  |
| Republic | Waste | Republic Services, Inc. provides non-hazardous solid waste collection and | 3.1 |  |
| Services |  | disposal services in the United States. The Company provides solid waste |  |  |
|  |  | collection services for commercial, industrial, municipal, and residential |  |  |
|  |  | customers. Republic also operates transfer stations, landfills, and recycling |  |  |
|  |  | facilities. |  |  |
| American States | Water | American States Water Company purchases, produces, distributes, and sells | 3.1 |  |
| Water |  | water. The Company also distributes electricity in one community. American |  |  |
|  |  | States operates within various customer service areas in California. |  |  |
| Xylem | Water | Xylem is a leading equipment and service provider for water and wastewater | 3.1 |  |
|  |  | applications with a broad portfolio of products and services addressing the |  |  |
|  |  | full cycle of water, from collection, distribution and use to the return of |  |  |
|  |  | water to the environment. |  |  |
| Clean Harbors | Waste | Clean Harbors, Inc. provides a variety of environmental remediation and | 3.0 |  |
|  |  | industrial waste management services to customers in the United States and |  |  |
|  |  | Puerto Rico. The Company’s services include treatment and disposal of hazardous |  |  |
|  |  | and non-hazardous solid and liquid waste, surface remediation, groundwater |  |  |
|  |  | restoration, and waste packaging, as well as analytical testing and consulting. |  |  |
| Service Corp | Waste | Service Corporation International provides death care services worldwide. The | 3.0 |  |
| International |  | Company operates funeral service locations, cemeteries, and crematoria. Service |  |  |
|  |  | also sells prearranged funeral services in most of its service markets. |  |  |
| Total |  |  | 32.0 |  |
|  |  |  |  |  |  |

Translation (ENFR, 2022-11-30):
# Informations sur la performance
Rendement depuis le lancement (%)
- Fonds - Part A en EUR
- Indice de référenceSFDR	Article 9L’AUM de la stratégie est actualisé trimestriellement et correspond au total des actifs sous gestion le 30 septembre 2022.

Part A en EUR	-	-	-	-	-	-	-	-
Part A en EUR	-	-	-	-	-
La performance passée ne constitue pas une garantie de la performance future.
La valeur d’un investissement, de même que tout revenu qu’il génère, peut varier à la hausse comme à la baisse en raison des fluctuations des marchés et des changes. Il est donc possible que vous ne récupériez pas le montant investi au départ. Pour plus d’informations sur les risques, veuillez vous référer au DICI du Fonds et/ou au Prospectus. Investir dans des sociétés de marchés émergents implique un risque plus élevé que d’investir dans des sociétés de pays développés ou de marchés de valeurs mobilières développés. Les marchés émergents peuvent avoir des systèmes juridiques et politiques moins stables, ce qui peut avoir une influence sur la garde et la valeur des actifs. Les investissements du fonds comprennent des actions de sociétés de petite capitalisation, qui ont tendance à être négociées moins souvent et à des volumes plus faibles que les grandes sociétés, ce qui les rend potentiellement moins liquides et plus volatiles. VL de la part A en EUR, revenu net réinvesti, nette de frais. La part A en EUR a été lancée le 13 décembre 2021. La performance des autres parts peut varier et est disponible sur demande.
*Annualisé depuis le lancement.