Artemis unveils corporate bond fund
Following the successful launch in June of its Short-Dated Global High Yield Bond fund, Artemis has launched the Artemis Corporate Bond fund as a UK OEIC (FCA approved) and Ucits vehicle.
The fund will be managed by Stephen Snowden, with support from Juan Valenzuela, David Ennett and Stephen Baines.
The main objective is 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 are available, and on-going charges are 0.40% (I-class shares). At least 80% of the fund is invested in investment-grade corporate bonds; and the fund may also invest in the broader fixed income market. At least 80% of the fund will be denominated in or hedged back to sterling.
The fund has raised an initial £81.6m.
Artemis' head of Distribution, Jasper Berens, commented: "This new fund enhances further our capability in fixed income. Stephen Snowden is an experienced and respected manager with a great team behind him. By broadening what we offer, we are confident that this new fund will help us continue to meet investors' needs."
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