Artemis is set to launch a pair of fixed income vehicles following the successful creation of its Short-Dated Global High Yield Bond fund in June.
The firm will be launching later in the quarter the Artemis Corporate Bond Fund as a UK OEIC, which has received the approval of the Financial Conduct Authority (FCA) and is also an Ucits vehicle. The fund will be managed by Stephen Snowden (pictured), with the support of Juan Valenzuela, David Ennett and Stephen Baines. It seeks to generate a total return greater than the iBoxx £ Collateralized & Corporates Index (the fund's benchmark), after fees, over rolling three-year periods. GBP income (quarterly) and GBP accumulation shares will be available, and on-going charges will be 0.40% (I-class shares).
Secondly, and also as a sub-fund of Artemis' Luxembourg Sicav, the firm will be launching next month a Global High Yield Bond fund. The managers will be David Ennett and Stephen Baines, with support from Juan Valenzuela and Stephen Snowden. The fund's objective is to increase the value of shareholders' investments through a combination of income and capital growth. Its benchmark will be the ICE BofA Merrill Lynch Global High Yield Constrained USD Hedged Index. Share classes available will be USD, GBP Hedged, EUR Hedged, CHF Hedged - accumulation and income (quarterly distributing). The fund's management fee will be 0.50% (I-class and B-class). Ongoing charges will be 0.51% (I-class) and 0.55% (B-class).
Jasper Berens, Artemis' head of distribution, said: "These two new funds will continue to enhance our capability in fixed income. Stephen, David and Stephen are experienced and respected managers with a great team behind them. By broadening what we offer, we are confident that these new funds will help us to go on meeting investors' needs."