Artemis Income Income Units
HL comment
Our view on this Fund
At the start of this year Adrian Frost was expecting to increase the fund’s exposure to more economically sensitive companies as prospects for the economy improved. This has not occurred and he has maintained the fund’s stance towards more solid businesses. Some of these include AstraZeneca and Centrica which have strong franchises and we think should reward investors. The fund looks well positioned against a backdrop of weak markets.
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 Equity Income
Our view on this sector
With the UK stock market yielding a similar level to gilts, investing in equity income funds could be opportune. Many funds yield in excess of 5% currently. In performance terms it is fair to say that many of these funds have struggled this year by being under exposed to mining shares and some over exposed to financial companies. Going forwards, this sector could provide a core to many investor's portfolios with funds offering the prospect of rising income and capital growth.
20-11-2008