Artemis Global Income Fund I Inc

Global Equity Income

Rated Fund 2014-2018. Complements UK equity income holdings

This fund won Money Observer's Best Global Equity Income Fund award in 2014 and 2015, and was highly commended in 2016.

It stands out from the competition for two main reasons. Jacob de Tusch-Lec, its manager since inception in 2010, combines a fundamental bottom-up approach to stock selection with a top-down approach to portfolio construction, and he also has little exposure to the UK (less than 4 per cent at the end of 2017).

So for income investors seeking diversification, it will complement rather than replicate existing UK equity income holdings. Its yield is 3.5 per cent and it pays income half yearly.

De Tusch-Lec's first step is to consider Artemis's views on the world economy and the outlook for various countries and regions.

At a stock level he examines the quality of companies' dividend streams, their managements and the type of business they are involved in. He does not follow any particular investment style but shifts investments between high-yielding quality, cyclical and value stocks as appropriate.

He invests in a range of businesses from big, 'boring' companies with long dividend histories to emerging market companies that have only just started paying dividends, and mid-sized companies with good growth prospects. He also has a strong sell discipline to ensure he does not hold on to stocks for too long.

Whitechurch Securities has used this fund as a core holding for clients since 2014. Ben Willis, the wealth manager's head of research, points to its rapid growth into a near £4 billion fund. 'This has not been at the compromise of Jacob's process,' he says.

Narrative and ratings content all as of 01 January 2018.

See all Money Observer rated funds
Artemis Global Income Fund I Inc
Artemis Fund Managers Limited
Unit Trust
Global Equity Income
0.8 %
Risk Rating
3 Year Sharpe
3 Year Alpha
3.5 %
The OMW Artemis Global Income fund invests solely in the Artemis Global Income fund, a UK authorised Unit Trust managed by Artemis Fund Managers Limited. The underlying fund aims to achieve a rising income combined with capital growth primarily from a portfolio of equities selected on a global basis. Investments in emerging markets tend to be volatile and are usually considered to carry a greater degree of risk than investments in established markets. This relates to dealing, settlement and custody practices, the possibility of political or economic instability, and developing legal, fiscal and regulatory structures. The underlying fund invests into a relatively small number of assets, or into individual countries or a specific market sector. Such concentrated portfolios give rise to more risk than where investments are spread across a larger number of assets, countries or market sectors.
Holding %
Tokai Carbon Co Ltd 4.18 %
POSCO Chemtech Co Ltd 3.36 %
EI Towers SpA 3.19 %
Citigroup Inc 3.07 %
Infrastrutture Wireless Italiane SpA 2.81 %
General Motors Co 2.34 %
Zions Bancorp NA 2.31 %
Best Buy Co Inc 2.24 %
Bank Leumi Le-Israel BM 2.17 %
Rai Way SpA 2.14 %
Region %
United States 40.97 %
Eurozone 20.86 %
Europe - ex Euro 9.35 %
Middle East 8.11 %
Japan 6.09 %
Asia - Emerging 5.36 %
Sector %
Financial Services 29.04 %
Basic materials 15.86 %
Industrials 13.84 %
Energy 12.16 %
Technology 10.69 %
Consumer Cyclical 8.54 %
Artemis Fund Managers Limited
SW1A 1LD, London, United Kingdom
Legal Structure
Unit Trust


Jacob Brahms
Joined 05/01/2016
Sam Morley
Joined 04/30/2016
Jacob de Tusch-Lec
Joined 07/19/2010

Jacob has managed the Artemis Global Income Fund since launch in July 2010 and the Artemis Global Equity Income Fund since launch in June 2015. He has also managed, with James Foster, the Artemis Monthly Distribution Fund since its launch in May 2012. Having joined Artemis in 2005, he managed the Artemis Capital Fund from January 2006 until June 2010. Jacob began his career in 1998 at BankInvest, one of Scandinavia's largest independent fund managers. In 2002 he joined Merrill Lynch as vice-president of pan-European equity strategy. Jacob holds a BA and an MSc in economics from the University of Copenhagen; and an MBA from the Stern School of Business at New York University (NYU). He is a member of Artemis' executive committee.

Data provided by Morningstar.

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