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Artemis Strategic Assets Fund

All data as at 31 January 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, 24 February 2017
Bid price (acc units)90.95p
Offer price (acc units)92.33p
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 rose by 1.5% over the month, which compares with a fall of 0.3% in the FTSE All-Share index. On the plus side our bond shorts contributed 1.4% and the commodities added 0.9%. Both our equities and currencies made small losses.

One positive outcome from both Brexit’s and Trump’s victories is that they appear to have extended the economic cycle in the UK and US.

One positive outcome from both Brexit’s and Trump’s victories is that they appear to have extended the economic cycle in the UK and US. The next recession, an inevitable event, has been pushed further out. In the UK this is because the depreciation of sterling has boosted exports and reduced imports. Consumers and investors are already spending more of their money at home than abroad. In the US Donald Trump seems to have re-energised businesses. Animal spirits have been unleashed and confidence is high.

Trump’s views on trade might have more serious ramifications. In his inauguration speech he declared that: “… protection will lead to great prosperity and strength,” going on to say “we’ve made other countries rich ... the wealth of our middle class has been ripped from their homes and then redistributed all across the world.” You won’t find these views in any economics textbook, but Trump clearly believes them and if he follows through with protectionist policies the rest of the world will clearly be worse off - and, almost certainly, so will the US. We have yet to see how protectionist Trump will be, but the early signs are discouraging. Protectionism reverses globalisation, will dampen economic growth and increase inflation. We are in danger of slipping back to the 1970s.

Overall we made very few changes to the fund in January. Our equity, bond and commodity positions were largely unchanged. We made some changes in currencies. The fund remains cautiously positioned.

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 31 January 2017

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

Data from 26 May 2009. Source: Lipper Limited, accumulation units, bid to bid in sterling to 31 January 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 31 January21.1%-5.0%2.7%6.1%13.9%
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 2016. “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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The information contained in these pages should not be used or relied upon by private investors.