Changes to the Name and Investment Policy of Artemis Funds (Lux) - Global High Yield Bond

On 28 April 2026, changes were made to the name and investment policy of the now renamed Artemis Funds (Lux) – Global High Yield Opportunities (the “Sub-Fund”). 

What Changed? 

Further to the change in name as detailed above, the investment policy of the Sub-Fund was revised to state that derivatives may be used to take both long and short positions in individual bonds and bond indices. Previously, the Sub-Fund used derivatives including futures, forward currency contracts, credit default swaps (single name and indices) and interest rate swaps. The investment policy was updated to state that total return swaps (single name and indices) may also be used. 

Total derivatives (longs and shorts) will typically lie in a range of 50-150% of the Sub-Fund’s Net Asset Value but may potentially be as high as 200%. The Sub-Fund’s ability to have a gross exposure of more than 100% of its Net Asset Value means that the Sub-Fund has the potential both to generate greater returns and to experience greater losses than if the Sub-Fund was restricted to a gross exposure of 100% of its Net Asset Value.  

The Sub-Fund’s net exposure (longs minus shorts) will typically lie in the range of 60-175% depending on market conditions.  

Furthermore, the risk management approach for the Sub-Fund changed from the commitment approach to the relative VaR approach. This updated approach uses the ICE BofA Merrill Lynch Global High Yield Constrained USD Hedged Index as the benchmark for the purpose of the calculation. Risk limits are based on the relative VaR approach. Accordingly, the level of leverage for the Sub-Fund, calculated on the basis of the gross sum of the notionals, is expected to be 250%. Leverage may however significantly exceed this level from time to time.   

All other key features will remain the same. There is no anticipated immediate change to the risk profile of the Sub-Fund and the changes will not trigger any additional fees for investors.  

Related documents  

• Letter to shareholders dated 23 March 2026 (PDF, opens in a new window)

List of affected share classes