Artemis repositions Artemis Funds (Lux) - US Select
Our press enquiries team
Artemis has repositioned Artemis Funds (Lux) - US Select and changed its name to US Focus, effective 14 April 2026.
The fund has gone from a portfolio of 35-65 companies to a more concentrated fund of 25-40 positions in which the managers have the highest conviction.
It is managed jointly by Cormac Weldon and Chris Kent with additional research and investment ideas generated by Artemis’ seven-strong US equity team.
The move to a focused portfolio is in response to client demand for a more concentrated, high conviction strategy. It follows a review by the fund’s managers, who analysed the historic drivers of their strong performance and found that the fund’s higher conviction positions have consistently outperformed over time.
Cormac Weldon, Head of US Equities, said: “We believe a more concentrated, highly active approach has the potential to deliver superior returns going forward. The market is becoming more discerning around the AI trade – an area where we have displayed the ability to correctly analyse and identify outsized winners.
“Beyond AI, we expect market breadth to continue increasing, which will open up more opportunities for active stock selection. Healthcare is a sector we are excited about, and have been building in the portfolio, following an extended period of underperformance.
“We also expect deregulation, the effects of which have not fully been felt, to be supportive for certain areas of financials and other sectors where M&A has been stalled.”
The €30m fund1 was launched in November 2018 and its objective is to increase the value of shareholders’ investments primarily through capital growth. It can invest across the market cap spectrum but uses the S&P 500 as its comparator benchmark2.
There will be a reduction of the base fund management fee for founders’ share classes to 0.50% from 0.75% until the fund’s assets under management reach €100m.
Artemis Funds (Lux) has two other US funds besides US Focus – US Smaller Companies and US Extended Alpha. The latter uses a 130/30 structure to enhance returns without increasing risks.
Notes and references
1 Source: Artemis as at 28 February 2026
2 The fund’s benchmark, the S&P 500 NR, is a point of reference against which the performance of the fund may be measured. Management of the fund is not restricted by this benchmark. The deviation from the benchmark may be significant and the portfolio of the fund may at times bear little or no resemblance to its benchmark. The benchmark does not take into account environmental and/or social characteristics promoted by the fund.
Past performance of the Artemis Funds (Lux) - US Select
The fund’s objective is to increase the value of shareholders’ investments primarily through capital growth. The fund is actively managed and its past performance is shown below, alongside its benchmark.
| Three months | Six months | One year | Three years | Five years | |
| Artemis (Lux) US Select Fund | -6.8% | 0.1% | 25.6% | 75.1% | 55.7% |
| S&P 500 NTR* | -4.4% | -2.0% | 17.4% | 64.6% | 75.6% |
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| Artemis (Lux) US Select Fund | 18.1% | 27.0% | 29.1% | -24.1% | 21.1% | 19.0% | 34.1% | n/a | n/a | n/a |
| S&P 500 NTR* | 17.4% | 24.8% | 26.3% | -18.1% | 28.7% | 18.4% | 31.5% | n/a | n/a | n/a |
Past performance is not a guide to the future. Source: Lipper Limited/Artemis as at 31 March 2026 for class I Acc USD. All figures show total returns with dividends and/or income reinvested, net of all charges. Performance does not take account of any costs incurred when investors buy or sell the fund. Returns may vary as a result of currency fluctuations if the investor's currency is different to that of the class.
*As at 6 Aug 24 the benchmark changed to S&P 500 NTR (Standard). Returns up to 6 Aug 24 reflect those of the S&P 500 TR.
This is a marketing communication. Before making any final investment decisions, and to understand the investment risks involved, refer to the fund prospectus and KIID/KID, available in English and in your local language (depending on local country registration), from the relevant fund page or literature section on www.artemisfunds.com. The documents can also be found on www.fundinfo.com.
CAPITAL AT RISK. All financial investments involve taking risk and the value of your investment may go down as well as up. This means your investment is not guaranteed and you may not get back as much as you put in. Any income from the investment is also likely to vary and cannot be guaranteed.
The fund is a sub-fund of Artemis Funds (Lux). For further information, visit www.artemisfunds.com/sicav.
Société d'Investissement à Capital Variable (SICAV) funds are investment funds domiciled in Luxembourg. They are authorised and regulated by the Luxembourg based EU regulator, the Commission de Surveillance du Secteur Financier (CSSF). Artemis Funds (Lux) (the “Company”) are SICAV funds and are therefore not authorised and regulated by the UK Financial Conduct Authority (“FCA”). They are, however, recognised under the UK Financial Conduct Authority’s (FCA) Overseas Fund Regime (OFR).
Potential and current investors in the UK should be aware that, although the Company is recognised by the UK FCA for the purposes of distribution, the activities of the Company, the UK Representative, the Management Company, or the Depositary are not subject to the rules and regulations made under the Financial Services and Markets Act 2000 for the protection of investors. As a result, UK investors will not be protected by the UK Financial Services Compensation Scheme (FSCS) for financial losses suffered as a result of any of the mentioned bodies being unable to meet their liabilities to Shareholders, as these rules generally do not apply to an investment in the Company.
In addition, UK investors will not be able to refer a complaint against the mentioned bodies to the UK Financial Ombudsman Service (“FOS”).
The FCA introduced a package of measures during 2024 called the Sustainability Disclosure Requirements (SDR). The Company is not subject to these requirements.
For changes made to the Artemis Funds (Lux) range of Luxembourg-registered funds since launch, visit www.artemisfunds.com/historic-changes.
Forecasts are based on current views and expectations. They are subject to change and should not be viewed as guaranteed.
The fund’s costs may be paid in a different currency to the currency where clients are resident. Changes in currency exchange rates can therefore cause costs to increase or decrease.
Risks specific to Artemis Funds (Lux) – US Focus
- Market volatility risk The value of the fund and any income from it can fall or rise because of movements in stockmarkets, currencies and interest rates, each of which can move irrationally and be affected unpredictably by diverse factors, including political and economic events.
- Currency risk The fund’s assets may be priced in currencies other than the fund base currency. Changes in currency exchange rates can therefore affect the fund's value.
- Concentration risk The fund may have investments concentrated in a limited number of holdings. This can be more risky than holding a wider range of investments.
- Charges from capital risk Where charges are taken wholly or partly out of a fund's capital, distributable income may be increased at the expense of capital, which may constrain or erode capital growth.
- ESG risk The fund may select, sell or exclude investments based on ESG criteria; this may lead to the fund underperforming the broader market or other funds that do not apply ESG criteria. If sold based on ESG criteria rather than solely on financial considerations, the price obtained might be lower than that which could have been obtained had the sale not been required.
