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Advisers and wealth managers

Artemis Global Energy Fund

All data as at 31 March 2017 except where specified
  • Summary
  • About the fund
  • Performance (class R)
  • Performance (class I)
  • Composition
  • Key facts
  • Investment insights
  • Literature
  • Contact us

The fund’s aims

The fund aims to achieve long-term capital growth primarily from a portfolio of companies engaged in the oil and gas sector, energy generation and transmission. Additionally, the fund may invest in companies seeking to develop and exploit new energy technologies, and companies that service the energy sector

Current prices and yield
(class R)

As at noon, 21 April 2017
Bid price (acc units)30.16p
Offer price (acc units)31.95p
Historic yield (acc units)0.40%

Investment information
(class R)

Minimum lump sum investment£1,000
Ongoing charge (acc units)1.77%

The initial charge is currently waived. The ongoing charge includes the annual management charge of 1.5% and is shown as at the date of the Key Investor Information Document (KIID), where a full explanation of the fund's charges can be found.

Fund managers’ update

With oil prices having fallen by around 8% this year, markets are growing impatient with Opec. Investors have reduced their long positions in oil and in the energy sector and some commentators are predicting that oil prices will fall this year. Inventories in the US have never received more scrutiny but the bigger picture continues to support our belief that the market will tighten. We keep calm and look at the data. Although short-term traders are walking away from oil and energy stocks, longer-term investors (like us) are carefully positioning their portfolios to both withstand volatility in the short term while being able to take advantage of a bounce in the market.

Although the fund produced a negative return in March, the defensive qualities of our integrated oil holdings like Total, BP and Shell meant it held up better than the oil price.

Although the fund produced a negative return in March, the defensive qualities of our integrated oil holdings like Total, BP and Shell meant it held up better than the oil price. Total is now our largest holding, having replaced Hurricane Energy, which we reduced with its share price at an all-time high. The ‘Halifax’ oil discovery made by Hurricane is worthy of mention as possibly the largest oil discovery made in UK waters in the last decade and we have been fortunate to be part of this company’s story since before its IPO. It now needs to find additional funding - or a partner - to develop this mammoth find.

Although most of our holdings were flat, returns were pulled down by Africa Energy and Africa Oil, which underperformed as the market shunned some volatile Energy & Production stocks. Anadarko and Chevron also suffered due to short-term project issues. We sold our remaining holdings in Eland and Tesoro.

21 December 2016

Richard Hulf: Interpreting Opec …

Richard Hulf, manager of the Artemis Global Energy Fund, talks to Artemis’ Vik Heerah about Opec’s recent agreement and its likely effect on the oil price.

Value of £1,000 invested at launch to 31 March 2017

Value of £1,000 invested at launch to 31 March 2017

Data from 21 April 2011. Source Lipper Limited, accumulation units, bid to bid in sterling to 31 March 2017. All figures show total returns with dividends reinvested.

Asset allocation

Asset allocation

Source: Artemis as at 31 March 2017. Please note figures may not add up to 100% due to rounding.

Percentage growth (class R)

12 months to 31 March43.7%-21.0%-28.3%-13.6%-2.2%
12 months to 31 March43.7%-21.0%-28.3%-13.6%-2.2%
Please remember that past performance is not a guide to the future. Source: Lipper Limited, accumulation units, bid to bid in sterling. All figures show total returns with dividends reinvested.

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Richard Hulf: Interpreting Opec …

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About the fund

The Artemis Global Energy Fund pursues long-term capital growth by investing in companies in the oil and gas sector, as well as in companies that generate and transmit energy. It has a bias towards younger and more promising energy companies.

  • Diversification: globally diversified and not constrained by its benchmark, the fund is able to invest across the energy spectrum – from oil & gas exploration companies to large integrated energy companies, refiners, transmission companies and their suppliers.
  • Conviction: the fund takes a high-conviction approach to investing. From a universe of around 2,000 stocks, the managers pick around 40 that they believe will reward investors over the medium and longer term.
  • ‘Thematic’ and ‘basin’ investing: the managers use two approaches to source stock ideas. A ‘thematic’ approach involves looking at broad trends in the energy sector and the investment opportunities that result. ‘Basin’ investing focuses on existing and potential energy-producing hotspots and on the companies operating in those areas.
  • Specialist insight: the fund combines the stock-picking skill of John Dodd with the petroleum engineering background of Richard Hulf. Their detailed technical and financial analysis underpins the portfolio.

Introducing the fund

Richard Hulf introduces the Artemis Global Energy Fund and outlines how he and fellow manager John Dodd make investment decisions.

Reasons to consider

The fund may be suitable for investors looking for:

  • direct exposure to global energy stocks
  • a higher risk investment than a broader global equity fund, but one with the potential for high returns
  • a management team with energy industry experience

The fund’s current SRRI rating is 6.

Risk warnings

THIS INFORMATION IS FOR PROFESSIONAL ADVISERS ONLY and should not be relied upon by retail investors.
The fund may have a concentrated portfolio of investments. The fund may be subject to additional risks peculiar to the energy sector. The fund may invest in the shares of small and medium sized companies. The fund may invest in emerging markets.
Any research and analysis in this communication has been obtained by Artemis for its own use. Although this communication is based on sources of information that Artemis believes to be reliable, no guarantee is given as to its accuracy or completeness.
Any forward-looking statements are based on Artemis’ current expectations and projections and are subject to change without notice.
Issued by Artemis Fund Managers Ltd which is authorised and regulated by the Financial Conduct Authority.

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