Artemis Global Income Fund I Inc

Global Equity Income

Rated Fund 2014-19. Complements UK equity income holdings

Artemis Global Income’s value style has been out of favour in recent years, but it remains a good core holding to complement exposure to UK income stocks, given that it has little exposure to stocks listed here (less than 2% at the end of 2018). This means that, for income investors seeking diversification, it won’t replicate existing UK equity income holdings.

The fund won Money Observer’s Best Global Equity Income Fund award in 2014 and 2015, and was highly commended in 2016. Since its launch in 2010, it ranks as the top-performing fund in its sector. It yields 3.4% and pays income half-yearly.

Morningstar points to its “distinctive character” making it an “appealing offering”. The fund has several uncommon features versus peers.

While most equity income funds heavily rely on bottom-up stockpicking, macro analysis also plays an important role at this fund. Jacob de Tusch-Lec, its manager since inception, first considers Artemis’ views on the world economy and the outlook for various countries and regions.

The fund further differentiates itself by looking outside the traditional universe of dividend stocks commonly found in the portfolios of peers, which leads to a greater weighting in mid-sized and small companies. Its contrarian style gives it a value tilt, but the prevailing economic background can steer the fund to other segments of the market as well.

It invests in a range of businesses from big, ‘boring’ companies with long dividend histories to emerging markets companies that have only just started paying dividends.

The fund’s rapid growth in size to almost £4 billion has not been achieved by compromising the manager’s process.

Narrative and ratings content all as of 01 January 2019.

See all Money Observer rated funds
Name
Artemis Global Income Fund I Inc
Manager
Artemis Fund Managers Limited
Type
Unit Trust
ISIN
GB00B5N99561
Sector
Global Equity Income
Launched
19/07/2010
OCF
0.83 %
Risk Rating
5
3 Year Sharpe
0.71
3 Year Alpha
-2.08
Yield
3.3 %
Benchmark
MSCI ACWI NR GBP
The objective of the Fund is to achieve a rising income combined with capital growth primarily from a portfolio of equities selected on a global basis.
Holding %
General Motors Co 4.20 %
Infrastrutture Wireless Italiane SpA 3.79 %
Tokai Carbon Co Ltd 2.99 %
POSCO Chemical Co Ltd 2.78 %
Rai Way SpA 2.73 %
Verizon Communications Inc 2.37 %
Citigroup Inc 2.28 %
Zions Bancorp NA 2.18 %
Bank Leumi Le-Israel BM 2.13 %
Borr Drilling Ltd 2.12 %
Region %
United States 39.42 %
Eurozone 20.50 %
Middle East 8.08 %
Europe - ex Euro 6.72 %
Asia - Emerging 6.28 %
Japan 5.36 %
Sector %
Financial Services 21.83 %
Industrials 14.73 %
Basic materials 14.48 %
Energy 11.79 %
Consumer Cyclical 11.18 %
Technology 8.99 %
Communication Services 6.70 %
Real Estate 5.45 %
Name
Artemis Fund Managers Limited
Address
SW1A 1LD, London, United Kingdom
UCITS
Yes
Legal Structure
Unit Trust

Managers

James Davidson
Joined 11/29/2018

James Davidson, managing director, is a senior portfolio manager in the Global Equities Team, based in London. An employee since 2013, he focuses primarily on research-driven strategies. Prior to joining the firm, James was at Bank of America Merrill Lynch, where he ran the number one global equity sales desk, filtering the output of 700 research analysts. The flagship product was the Global large cap global equity long/short quarterly portfolio, which he oversaw for 42 quarters. Previously, James spent five years as a US equity portfolio manager with Morgan Grenfell Asset Management.

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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