Artemis is a Limited Liability Partnership (LLP) and currently has 30 partners comprising fund managers and other key individuals at the firm. Affiliated Managers Group (“AMG”) and the management team at Artemis own 100% of the equity of the business. AMG has a majority equity interest (60%), while our management team and principal employees own 40%. This is a financial partnership; AMG takes a share of the revenues produced by Artemis, but does not get involved in the day-to-day running of the business. We believe that an LLP is a flexible and robust structure for an investment management business.
Our four founders, Mark Tyndall, John Dodd, Derek Stuart and Lindsay Whitelaw have always recognised that one of the key determinants in our long-term success is the stability of the investment team. Artemis has a very low level of turnover among the fund managers and the partnership structure will ensure that this remains the case.
We believe in creating a strong link between the compensation of our senior staff and the impact that they have on the success and profitability of our business. Fund manager remuneration directly relates to the performance of the strategies that they manage on behalf of investors. In addition, all our fund managers invest their personal capital in the funds they manage in order to align their interests with those of our clients even more closely.
The partnership enables us to manage generational change, whilst also being a magnet for new talent. The exposure of individuals to the partnership may increase over time, reflecting their personal success and contribution to the business. This exposure is structured over a period of five to 15 years and is intentionally long-term in nature.