skip to content.

Institutions and charities

Artemis US Absolute Return Fund

All data as at 28 February 2017 except where specified
  • Summary
  • Performance
  • Composition
  • Key facts
  • Investment insights
  • Literature
  • Contact us


The fund’s aims

The fund aims to achieve a positive return over the longer term, notwithstanding changing market conditions, investing principally in the shares of companies listed, quoted or traded in the United States of America.

Current prices and yield
(class I)

As at noon, 30 March 2017
Mid price (GBP hedged acc shares)108.95p
Historic yield (GBP hedged acc shares)0.00%

Investment information
(class I)

Minimum lump sum investment£250,000
Ongoing charge (GBP acc hedged shares)0.90%

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). A performance fee is charged as 20% of any outperformance of the share class against the greater of the LIBOR 3 month index (in the relevant currency) or zero. A full explanation of the fund's charges can be found in the KIID.

Fund manager’s update

Fuelled by large flows into exchange-traded funds (ETFs) and mutual funds, the US market extended its gains in February. Expectations that the new administration will cut taxes and red tape continued to propel indicators of business and consumer confidence to very high levels. But because growth in real wages (which is to say after inflation) is actually negative, this confidence among consumers hasn’t translated into higher spending. Furthermore, despite improved data readings over the last six months, there are also signs that the US economy may be slowing.

Our exposure to defence continued to deliver positive returns.

The gains in February were led by healthcare stocks, which reversed their previous poor performance as greater clarity emerged on reforms to the sector. Financial stocks also did well as talks of de-regulation and the easing of the strict control measures imposed after the financial crisis helped. The fund produced a positive return, with returns supported by long positions in technology stocks, especially videogame producer Take Two Interactive and semi-conductor equipment stock KLA Tencor. Our exposure to defence continued to deliver positive returns. Meanwhile, selected short positions in telecom and retail also contributed to performance. Negatives included animal health company Zoetis, whose quarterly report failed to convince. Our holdings in the transportation sector also detracted.

24 November 2016

Update on the Artemis US Absolute Return Fund

 

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

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

Data from 27 October 2014. Source: Lipper Limited, class I GBP hedged accumulation shares, mid to mid in sterling to 28 February 2017. All figures show total returns with net dividends reinvested.

Net sector exposure

Percentage growth (class I)

20162015201420132012
12 months to 31 December-0.9%7.7%n/an/an/a
20172016201520142013
12 months to 28 February0.9%6.7%n/an/an/a
Please remember that past performance is not a guide to the future. Source: Lipper Limited, class I GBP hedged accumulation shares, mid to mid in sterling. All figures show total returns with dividends reinvested. As the fund was launched on 27 October 2014, complete five year performance data is not yet available.

Email this article:

Update on the Artemis US Absolute Return Fund





CAPTCHA Image
Refresh
Security Code

Risk warnings

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

There is no guarantee that the fund will achieve a positive return over the longer term or any other time period and investors' capital is at risk.

The fund will 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 hold large cash deposits.

The costs and benefits of currency hedging transactions will apply to hedged shares.

Artemis Fund Managers Limited is entitled to a performance fee per share.

The additional expenses of the fund are currently capped at 0.15%. This has the effect of capping the ongoing charge for the class I shares issued by the fund at 0.90% and for the class R shares at 1.65%. 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/][BR/]

UK institutional investors and consultants

I confirm that I am a UK institutional investor or consultant and that I agree to and will comply with the terms and conditions of use of this website.

The information contained in these pages should not be used or relied upon by private investors.