Value assessment forces rethink on Artemis funds

Mergers ahead

Artemis Fund Managers’ first Assessment of Value (AoV) report has prompted the asset manager to consider a series of changes to its fund range, including fund mergers and the appointment of a new co-portfolio manager.

The firm's first AoV report follows a number of firms that have already published their first examples, following the action taken by the Financial Conduct Authority (FCA) in the wake of its 2018 Asset Management Market Study. Its first report found that the Artemis Pan-European Absolute Return fund, which is down 4.3% over three years to December 2019, "has not achieved its objective", and Artemis is therefore considering its options regarding the fund. The board explained: "Although the fund outperformed its cash benchmark in the three years prior to 2018, the fund has not since ach...