SPI's White List labels £6bn Artemis Income fund a 'sell'

The £6.4bn Artemis Income fund has been downgraded to a 'sell' in the latest Sanlam Private Investments (SPI) Income study, the widely followed guide to income funds.

The bi-annual report moved Adrian Frost's (pictured) and Adrian Gosden's Artemis Income to its Grey List of struggling funds and advised investors to sell out of the portfolio following its recent run of poor performance. The Grey List highlights those funds which have performed poorly over five years and, as the Artemis fund returned 83.8% over the period (to 10 January, according to Morningstar) compared to a sector average of 94.6%, SPI’s team decided to take action. Paul Surguy, author of the report and head of managed fund solutions at Sanlam UK, said: “We have long been supporte...