Artemis seeks departure from TAR sector following Target Return Bond fund name and objective change

100% investor approval

clock • 2 min read

Artemis has gained investor approval to change the name and investment objective of its £255.5m Artemis Target Return Bond fund, as the firm aims to move the fund from the IA Targeted Absolute Return sector.

The decision was authorised at an extraordinary general meeting held yesterday (5 March), with the changes set to take effect on 18 March. Overall, 100% of the investors who voted supported the proposed alterations. The fund's previous investment objective was to achieve a positive return of at least 2.5% above the Bank of England base rate, after fees, on an annualised basis over rolling three-year periods. Artemis' Peter Saacke to retire from financial services to retrain as a maths teacher The new objective will be to generate returns in excess of the the Markit iBoxx 1-5 year £...

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