# Johcm (USA) Inc

> Johcm (USA) Inc is an SEC-registered investment advisory firm in Boston, MA, registered since 2013, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 24, 2026.

- CRD: 167596
- Filed as: JOHCM (USA) INC
- Also doing business as: PERPETUAL AMERICAS FUNDS SERVICES
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Boston, MA
- Filing period: October 2026
- Form ADV filing dated: September 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/167596
- AdvisorCensus page: https://advisorcensus.com/firm/johcm-usa-inc-boston-ma-167596

## Quick answers

**How is Johcm (USA) Inc compensated?**
On its Form ADV (Item 5.E, October 2026), Johcm (USA) Inc reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Johcm (USA) Inc located?**
Johcm (USA) Inc's principal office is in Boston, MA, according to its Form ADV; the October 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Johcm (USA) Inc registered with the SEC or a state?**
Johcm (USA) Inc is an SEC-registered investment advisory firm, registered since 2013. Status as filed: Approved. CRD 167596.

**How much does Johcm (USA) Inc manage?**
Johcm (USA) Inc reports $8,909,525,355 in regulatory assets under management in its Form ADV filing dated September 24, 2026 (100% discretionary).

**How have Johcm (USA) Inc's assets and staff changed since 2021?**
In the Form ADV data for Johcm (USA) Inc: Regulatory assets under management: $2,191,260,100 in the October 2021 data and $8,909,525,355 in the October 2026 data, up 307%. Total employees: 38 in October 2021 and 52 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Johcm (USA) Inc serve?**
By number of clients on Form ADV Item 5.D: investment companies (19); pooled investment vehicles (other than investment companies and business development companies) (11); pension and profit sharing plans (but not the plan participants or government pension plans) (1).

**Which custodians does Johcm (USA) Inc use?**
Johcm (USA) Inc's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Northern Trust as a custodian holding 10% or more of its separately managed account assets.

**Does Johcm (USA) Inc report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/167596

**What changed in Johcm (USA) Inc's recent Form ADV filings?**
In the October 2026 filing data: Employees performing advisory functions went from 21 to 25. Registered or notice-filed in TX. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Northern Trust

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $8,909,525,355
- Discretionary: $8,909,525,355
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 0 | Not reported |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 19 | $6,725,196,412 |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 11 | $2,003,645,939 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 1 | $179,623,888 |
| Charitable organizations | 0 | Not reported |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 1 | $0 |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 0 | Not reported |
| Other | 1 | $1,059,116 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2013 (13 years)
- Employees: 52 total, 25 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: DE, IL, MA, PA, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- New York, NY

### Websites listed on Form ADV (Item 1.I)
- johcm.com
- regnan.com
- LinkedIn @j-o-hambro-capital-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,191,260,100 | 38 | August 19, 2021 |
| October 2022 | $17,237,489,253 | 42 | December 19, 2021 |
| October 2023 | $10,987,643,601 | 68 | August 7, 2023 |
| October 2024 | $10,234,816,848 | 57 | September 28, 2024 |
| October 2025 | $10,234,816,848 | 57 | December 19, 2024 |
| October 2026 | $8,909,525,355 | 52 | September 24, 2026 |

Regulatory assets under management: $2,191,260,100 in the October 2021 data and $8,909,525,355 in the October 2026 data, up 307%.
Total employees: 38 in October 2021 and 52 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Employees performing advisory functions went from 21 to 25.
- Registered or notice-filed in TX.
- Updated its list of owners and control persons (Schedule A).

### January 2026
- No longer registered or notice-filed in TX.

### December 2025
- Employees performing advisory functions went from 31 to 21.
- Regulatory assets under management went from $10,234,816,848 to $9,010,576,370 (-12%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Johcm (USA) Inc (CRD 167596): Form ADV filing data as of October 2026.