Interactive Investor

Artemis Monthly Distribution keeps place in ii Super 60

30th November 2021 09:21

Jemma Jackson from interactive investor

Fund retains its place after formal review.

Artemis Monthly Distribution has retained its place on interactive investor’s Super 60 rated list following a formal review over the planned retirement of key fund manager James Foster.

The fund, which is listed as an income option within the mixed-asset category in the Super 60 list, was put under formal review on 13 September 2021 following the announcement that Foster, who co-manages the fund, is planning to retire at the end of 2021.

Foster, who had managed the bond element of the fund, has been replaced by Stephen Baines. Jacob de Tusch-Lec continues to manage the equities portion of the fund.

Stephen joined Artemis from Kames in 2019 along with five others, sitting in a separate in-house bond team upon which the fund draws expertise. Stephen has worked at Baillie Gifford, Babson, and Oriel, where he was involved in equities and bonds, as well as long-short mandates. Stephen has relevant experience in shaping the portfolio's overall profile once the equity positions have been decided.

Dzmitry Lipski, Head of Funds Research, interactive investor, says: “Given the continuity of the strategy and successful management transition, we continue to maintain our conviction in the fund. In our view, it is still one of the best options for income investors in the mixed-asset sector.

“There’s been no changes to the fund’s objective or investment process, which aims to generate income and some capital appreciation over a five-year period, from a well-diversified portfolio, invested across different geographies and asset classes. Nor does it affect the fund’s investment process, which focuses on businesses with strong underlying fundamentals and selecting securities from across the equity and bond markets.

“Following the manager switch there are now potential opportunities to leverage from Stephen’s experience as well as in-house bond team’s expertise in the global high-yield space to widen investment universe.”

The fund has generated strong performance and provided robust income to investors since its launch, ranked the first quartile among its peer group, IA Mixed Investment 20-60% Shares sector.

The decision was made in line with our Super 60 methodology - which is monitored continuously for events which include, but are not limited to, extended periods of underperformance and fund manager moves. The interactive investor team conducted an extensive review, including a meeting with Stephen.

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