Interactive Investor

ii Super 60 Artemis Monthly Distribution fund under formal review

17th September 2021 16:40

Jemma Jackson from interactive investor


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The fund has been on the ii Super 60 rated list as an income option in the Mixed Asset category since January 2019.

interactive investor, the UK’s second largest direct-to-consumer investment platform, has placed its ‘Super 60’ rated Artemis Monthly Distribution Fund under formal review.

This follows the recent announcement that James Foster, who co manages the fund alongside Jacob de Tusch-Lec, is planning to retire at the end of the year.

Foster and de Tusch-Lec have run the fund since its inception in 2012 and are responsible for the portfolio’s bond and equity holdings respectively. The fund currently offers a yield above 3%, distributed monthly.

Stephen Baines, co-manager of Artemis Global High Yield funds, will take over the bond element of the portfolio and Jacob de Tusch-Lec will continue to manage the equities element. Before joining Artemis in February 2019, Baines worked for five years at Kames Capital, where he was co-manager of the Kames High Yield Bond Fund and the Kames Short-Dated High Yield Global Bond Fund.

interactive investor’s Super 60 rated list is monitored continuously for ‘yellow card’ events. Examples include but are not limited to changes to the fund’s management, soft closures (where a fund closes to new money) or a major re-rating from external or internal sources. Investments that experience a yellow card event are automatically placed under formal review.

Once a Super 60 investment has been placed under formal review, either for performance reasons or because of a yellow card event, our analysts will conduct a thorough investigation, usually including an interview with the investment manager.

Dzmitry Lipski, Head of Funds Research, interactive investor, says: “Artemis Monthly Distribution Fund has been on the ii Super 60 rated list as an income option in the Mixed Asset category since January 2019. In line with our methodology, we will review how the change in the fund’s management will impact the fund’s team structure and investment process along with how the succession plan will be implemented.

“Artemis has indicated that there will be no changes to the fund objectives and no material changes to the income/yield expectations. However, as James Foster was the key decision-maker for the bond strategy and has managed the fund since inception, we need to do an additional layer of due diligence to establish whether it will continue to be the best Income Mixed Asset option for our customers.”

Our goal is to reach a decision one way or another within three months of the date when the investment was placed under formal review.

These articles are provided for information purposes only.  Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties.  The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.

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