Artemis is changing the investment objective and policy of the £700m Strategic Assets fund in response to shareholder feedback that said its performance measures were "confusing", and calls from the Financial Conduct Authority (FCA) to make fund objectives easier to understand.
Co-managed by William Littlewood and Kartik Kumar, the fund currently targets long-term growth by investing in UK and international assets and aims to outperform cash and equities over rolling three-year periods. The fund is also benchmarked against the performance of the FTSE All-Share index. "Though intended as a useful way to measure performance, some investors felt that more than one measure of performance was confusing," a shareholder letter explained. Artemis appoints co-manager for Littlewood on Strategic Assets fund As of 12 November, the investment objective of the Artemi...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
