Artemis' Frost & Littlewood snap up insurers after sell-off

Artemis fund managers Adrian Frost and William Littlewood have upped their positions in UK life insurers after shares were hit hard by the Budget and the disclosure of an FCA probe into the sector.

Frost now holds more than 6.5% of his £6.7bn Artemis Income fund in insurers, while Littlewood has also been buying following the dramatic events of the past month: the manager's £1bn Strategic Assets fund now has a 2.4% position in the sector. Littlewood now holds positions in Resolution, Standard Life and Aviva, as well as a holding in Lloyds Banking Group as a play on the Scottish Widows business. Meanwhile, the Artemis Income fund, run by Frost and Adrian Gosden, holds positions in L&G, Standard Life and Phoenix Group. The latter firm was hit particularly hard on Friday when ne...