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Artemis Global Emerging Markets Fund

All data as at 31 January 2017 except where specified
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The fund’s aims

The fund aims to achieve long-term returns through a combination of capital growth and income principally from companies listed, quoted and/or traded in emerging markets or which are headquartered or have a significant part of their activities in emerging markets.

Current prices and yield
(class I)

As at noon, 24 February 2017
Mid price (GBP dist shares)116.16p
Mid price (GBP acc shares)119.33p
Historic yield (GBP acc shares)1.34%
Historic yield (GBP dist shares)1.81%

Investment information
(class I)

Minimum lump sum investment£250,000
Ongoing charge (GBP acc shares)1.00%
Ongoing charge (GBP dist shares)1.00%

The initial charge is currently waived. The ongoing charge includes the annual management charge of 0.75% 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

Emerging market stocks surged in January, bouncing back after the surprise outcome of the US presidential election hurt sentiment in late 2016. In US dollar terms, they enjoyed their best month since last March. The fund, meanwhile, rose by more than the market.

At the country level, Brazilian stocks rose sharply following the central bank’s decision to cut interest rates.

With metal prices - aluminium, iron ore and copper - showing particular strength, materials stocks led the market higher. The trend for defensive sectors to underperform continued, and staples and healthcare were the laggards once again. At the country level, Brazilian stocks rose sharply following the central bank’s decision to cut interest rates. Chinese and Korean stocks also outperformed, but Russian stocks lost some momentum following their strong performance in previous months.

During the month, supportive newsflow and encouraging economic data from China prompted us to increase our exposure there. Among others, we added Wanhua Chemical, China Agri-Industries, YY Inc and Alibaba. We funded this by selling Grasim Industries, China Life Insurance and Transmissor Energia, where corporate newsflow was deteriorating.

After these changes, the fund continues to offer highly attractive financial characteristics. It trades on a price-to-earnings ratio of 9.2x compared with 12.2x for the market. It also offers a dividend yield some 25% higher than its benchmark. The fund’s principal exposures are overweight positions in Russia and Thailand and underweights in India and Malaysia. At the sector level, we continue to have a tilt towards more cyclical areas of the market, with overweights to basic resources, industrials and construction and have less exposure in technology.

21 December 2016

Emerging market equities: Sentiment has turned …

Peter Saacke and Raheel Altaf, managers of the Artemis Global Emerging Markets Fund, discuss recent developments in emerging markets and how the fund is positioned.

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

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

Data from 8 April 2015. Source: Lipper Limited, class I GBP accumulation shares, mid to mid in sterling to 31 January 2017. All figures show total returns with dividends reinvested.

Asset allocation

Asset allocation

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

Percentage growth (class I)

20162015201420132012
12 months to 31 December37.7%n/an/an/an/a
20172016201520142013
12 months to 31 January49.3%n/an/an/an/a
Please remember that past performance is not a guide to the future. Source: Lipper Limited, class I GBP accumulation shares, mid to mid in sterling. All figures show total returns with dividends reinvested. As the fund was launched on 8 April 2015, complete five year performance data is not yet available.

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Emerging market equities: Sentiment has turned …





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Risk warnings

THIS INFORMATION IS FOR PROFESSIONAL ADVISERS ONLY and should not be relied upon by retail investors.

The fund will invest in emerging markets.

The fund may use derivatives to meet its investment objective, to protect the value of the fund, to reduce costs and with the aim of profiting from falling prices.

For distribution shares, the fund's annual management charge is taken from capital.

The additional expenses of the fund are currently capped at 0.25%. This has the effect of capping the ongoing charge for the class I shares issued by the fund at 1%. Artemis reserves the right to remove the cap without notice.

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.[BR/]

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