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Artemis Strategic Assets Fund

All data as at 28 February 2017 except where specified
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The fund’s aims

The objective of the fund is to achieve long-term growth through investment in a portfolio of UK and international assets. The fund will take a broadly ‘multi-asset’ approach with the intention to perform well when markets are favourable, and preserve capital when markets are poor. It therefore aims to provide longer term positive returns under most market conditions, outperforming both cash and equities over rolling three-year periods.

Current prices and yield
(class I)

As at noon, 22 March 2017
Bid price (acc units)89.28p
Offer price (acc units)90.62p
Historic yield (acc units)0.11%

Investment information
(class I)

Minimum lump sum investment£250,000
Ongoing charge (acc units)0.86%

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

The fund fell by 0.1% which compares with a rise of 3.1% in the FTSE All-Share index. Our precious metals made a positive contribution of 0.6% and our equities added 0.5%. But these were offset by our bond shorts which made losses of 1.1%.

Equity markets were strong again, responding to improving economic data in the developed world.

Equity markets were strong again, responding to improving economic data in the developed world. Unemployment in America, Japan and the UK has been low for some time now. In most areas of these countries jobs are available for those that want them. Job vacancies are at multi-year highs and stories abound of skills shortages. Wage growth is picking up and likely to rise further if economic growth remains good. Even in Europe there are signs of life. Unemployment is falling and surveys suggest that businesses and consumers are becoming more confident.

Inflation is also rising. In America CPI is now 2.5% and the core measure (which excludes food and energy) is 2.3%. German inflation has crept up to 2.2% and in the UK it is 1.8%. The eurozone purchasing managers’ index (PMI) for both services and manufacturing has reached 69-month highs. PMI figures in America are at similar levels, the highest since 2014.

Despite this strong data, bond yields fell in February. Bond bulls believe that much of the increase in inflation is due to the rising oil price and is transitory. The equity market foresees further economic growth ahead and is relaxed at gently rising inflation. However, if economic growth continues to rise, it becomes harder for central banks to justify zero interest rates, let alone quantitative easing. American interest rates are expected to increase this year. Other central bankers might have to suspend their money printing programmes. I would be surprised if markets respond favourably to such outcomes.

22 December 2016

Where to invest as rates normalise …

William Littlewood, manager of the Artemis Strategic Assets Fund, talks to Artemis’ Ross Leckie about the effect of Trumponomics on financial markets. Although interest rates are rising in the US, he retains his bond shorts elsewhere.

Value of £1,000 invested at launch to 28 February 2017

Value of £1,000 invested at launch to 28 February 2017

Data from 26 May 2009. Source: Lipper Limited, accumulation units, bid to bid in sterling to 28 February 2017. All figures show total returns with dividends reinvested.

Percentage growth (class I)

12 months to 31 December16.7%-2.0%-1.0%15.3%11.1%
12 months to 28 February20.4%-6.5%2.7%6.2%12.3%
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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Where to invest as rates normalise …

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Risk warnings

THIS INFORMATION IS FOR PROFESSIONAL ADVISERS ONLY and should not be relied upon by retail investors.
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. The fund may invest in the shares of small and medium sized companies. The fund may invest in emerging markets. The fund may invest in fixed interest securities. The fund may invest in higher yielding bonds. The fund may hold large cash deposits. The fund may invest in exchange traded funds to gain exposure to commodities.
FTSE International Limited (“FTSE”) © FTSE 2017. “FTSE®” is a trademark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. All rights in the FTSE indices and/or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and/or FTSE ratings or underlying data. No further distribution of FTSE data is permitted without FTSE’s express written consent.
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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