Artemis UK Smaller Companies Accumulation Units
HL comment
Our view on this Fund
After a flying start to the year, the last few months have been difficult for this fund. Its large exposure to resources initially helped but since the fall out in the sector it has suffered. John Dodd is sticking to his stance hoping for a bounce, especially on the back of any increased merger and takeover activity. Although as we enter into a tough period for smaller companies, he believes his strategy should deliver long term outperformance.
12-11-2008
Information from the fund manager
Please note: The information in this box has been provided by, and is issued by, the fund manager and not Hargreaves Lansdown.
HL group comment: Artemis
Our view on this Fund Management Group as a whole
Artemis was formed in 1997 and was basically the ex Ivory and Sime UK team. Responsible then for £2 billion, they had an excellent track record in investment trusts such as the ISIS Investment Trust. Since then assets under management have grown to £16.3 billion. In 2002 Artemis took over the ABN Amro fund range and althuogh ABN Amro has a large stake in the company, executive control remains with the original founder shareholders (i.e. Mark Tyndall, John Dodd, Derek Stuart, and Lindsay Whitelaw). All the fund managers have a stake in the business, and in addition their pension funds are invested into their own funds. As their own money is tied up in their funds, success for them is success for their investors. We would suggest this is a great incentive for them to continue achieving good performance.
13-09-2007
HL sector comment: UK Smaller Companies
Our view on this sector
The effects of the credit crunch have finally filtered into the real economy, despite this (and because of the high oil price for most of the year) BP recently posted record profits and a large dividend increase. Elsewhere the FTSE has been suffering huge volatility as banks and latterly mining companies have taken large tumbles. Recent Government intervention in the banking sector should hopefully unfreeze the plumbing in the financial world and provide the wider economy the chance to pull out of a recession.
20-11-2008