skip to content.

Private investors

Artemis Alpha Trust plc

All data as at 29 July 2016 except where specified
  • Summary
  • Performance
  • Composition
  • Key facts
  • Investment insights
  • Literature
  • How to invest

The fund’s aims

The fund aims to achieve above average rates of total return over the longer term and to achieve a growing dividend stream.

Investment policy

The company's investment portfolio comprises mainly UK and selected international equities, with the potential for investment in limited liability hedge funds, cash and bonds, unquoted investments, derivative instruments and other investments and securities as appropriate.

Current prices

Share price (ordinary)229.00p
Share price (subscription)3.50p
Dividend yield1.6%

Fund manager review

After late June’s vote for ‘Brexit’, investors fled from any stock deemed vulnerable to a slowdown in the UK economy. Although the selling was largely indiscriminate, mid- and small-caps fell the furthest. In July, however, it became apparent that this initial response had been an overreaction. And with central banks indicating they were prepared to loosen monetary policy, markets rallied from their post-referendum lows. As a result, the Company’s net asset value moved 2.8% higher. Some of the month’s best returns came from holdings in companies whose revenues increase when asset prices rise, such as Liontrust Asset Management (up 17%), Polar Capital (up 6%) and City of London Investment Group (up 14%).

with central banks indicating they were prepared to loosen monetary policy, markets rallied from their post-referendum lows.

Yet this gain lagged the 4% rise in the FTSE All-Share. That was due, in part, to the Company’s holdings in unlisted companies. Although we have reduced significantly the Company’s exposure to this type of stock, we continue to believe there is a case for investing in unlisted companies. They give us access to businesses at an earlier, more entrepreneurial stage of their development than would be possible through public markets. But there are also disadvantages to owning unlisted stocks. Because they are not publicly traded, the valuations need to be checked and revised. At Artemis, this (re)valuation process takes place once a quarter. As a result, unquoted holdings can act as a drag on returns when valuation multiples of listed companies move sharply higher, as they did in July.

Value of £100 invested at launch to 29 July 2016

Value of £100 invested at launch to 29 July 2016

Relative performance, value of £100 invested on 30 May 2003, the date Artemis was appointed as investment manager.
Source: Artemis/Lipper Limited, bid to bid in sterling with dividends reinvested. All figures show total returns. Past performance is not a guide to future performance.

Asset allocation

Asset allocation

Without cash. The figures above include adjustments to the unquoted investment holdings made after the period end. Source: Artemis as at 29 July 2016. Please note figures may not add up to 100% due to rounding.

Email this article:





CAPTCHA Image
Refresh
Security Code

Risk warnings

This information does not constitute an offer, invitation or solicitation to deal in securities.

The value of shares in Artemis Alpha Trust PLC, and any income from them, can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Stockmarket prices, currencies and interest rates can move irrationally and can be affected unpredictably by diverse factors, including political and economic events.

How the shares have performed in the past is not a guide to how they will perform in the future.

A proportion of the investment trust may be invested in emerging markets. Investment in emerging markets can involve greater risk than is customarily associated with more mature markets meaning above average price movements both positive and negative can be expected.

The investment trust may invest in the securities of smaller and/or medium sized companies. This can involve greater risk than is customarily associated with investment in larger, more established companies. The market for securities in smaller companies is often less liquid than that for securities in larger companies, meaning above average price movements both positive and negative can be expected.

The investment trust may borrow money in order to make further investments, which is known as 'gearing'. This can enhance investment returns in rising markets but conversely may reduce returns in falling markets.

FTSE International Limited (“FTSE”) © FTSE 2015. “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.

This information is issued by Artemis Fund Managers Limited which is authorised and regulated by the Financial Conduct Authority.

Financial advisers and retail investors

The Company currently conducts its affairs so that the ordinary and subscription shares in issue can be recommended by financial advisers to ordinary retail investors in accordance with the Financial Conduct Authority’s (“FCA’s”) rules in relation to non-mainstream investment products and intends to do so for the foreseeable future. The ordinary and subscription shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are shares in an investment trust.

UK personal investors

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