Artemis launches emerging markets ex China fund
Our press enquiries team
Artemis has launched its second emerging markets strategy, Artemis Funds (Lux) – SmartGARP® Global Emerging Markets ex China Equity, in response to demand from clients.
It is being managed by Raheel Altaf, who also manages the Artemis Global Emerging Markets Equity Fund1 and the equivalent Sicav strategy, which have combined assets of £2.7bn2. He is supported by the wider SmartGARP team, including analysts Aalok Sathe, Harry Eastwood and Laura Corbetta.
Fund manager Raheel Altaf said: “Our SmartGARP stock-screening tool currently finds emerging markets to be particularly attractive compared to other regions, with a disproportionate number of our global best ideas listed there. We think valuations remain attractive in emerging markets generally and the breadth of opportunities in countries such as Brazil, India and Korea across multiple sectors is considerable. This provides diversification to investors – especially those who are heavily exposed to US mega-cap tech in their US and global equity allocations.”
SmartGARP analyst Harry Eastwood explained: “This fund has been launched specifically for clients who appreciate the differentiated portfolios which the SmartGARP process creates. China as an investable market has developed considerably in the decade since we launched the Artemis Global Emerging Markets Equity Fund in 2015. Some investors prefer to have a separate allocation to China as a result, while others are happy to get their exposure through a broad global emerging markets fund. Ultimately it is about giving investors more choice.”
Artemis’ proprietary SmartGARP investment process screens the financial characteristics of companies to identify those that are growing faster than the market but trading on lower valuations. Fund managers use this input to build portfolios containing stocks that are experiencing upgrades to profit forecasts, but tend to be undervalued and under-owned by the investment community.
Altaf added: “The SmartGARP approach leads to portfolios that are highly differentiated from their benchmarks and peer group funds, which is also the case for our new emerging markets excluding China fund. We tend to have a value tilt versus the market and our peers, as well as a bias towards mid and small-cap names – areas of the market which are less efficient, providing more opportunities to generate alpha.”
Artemis Funds (Lux) – SmartGARP Global Emerging Markets ex China Equity uses the MSCI Emerging Markets ex China index as its benchmark. The fund’s objective is to increase the value of shareholders’ investments primarily through capital growth over a five-year period. The fund is actively managed and it invests principally (at least 80% of its assets) in equities of companies that are listed, headquartered or that have a significant part of their activities in emerging market countries, excluding China3. The fund may invest in small and mid-cap companies but there is no restriction or constraint in terms of market capitalisation.
Notes and references
1 The Artemis Global Emerging Markets Equity Fund, which was launched in May 2015 as a UK-listed OEIC, has significantly outperformed its benchmark and is in the top quartile of its peer group over one, three, five and 10 years.
| Three months | Six months | One year | Three years | Five years | 10 years | |
| Artemis SmartGARP Global Emerging Markets Equity | 6.4% | 21.7% | 30.3% | 67.7% | 84.0% | 234.8% |
| MSCI Emerging Markets NR | 4.8% | 18.1% | 24.4% | 41.0% | 24.8% | 145.9% |
| IA Global Emerging Markets average | 4.4% | 16.8% | 21.9% | 37.7% | 23.1% | 142.0% |
| Quartile | 1 | 1 | 1 | 1 | 1 | 1 |
Past performance is not a guide to the future. Source: Lipper Limited/Artemis as at 31 December 2025 for class I accumulation GBP. 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. Classes may have charges or a hedging approach different from those in the IA sector benchmark.
2 Source: Artemis as at 31 December 2025
3 In this context, emerging market countries excluding China means countries included in the MSCI Emerging Markets ex China Index and those countries included in the World Bank definition of developing economies excluding China, or those countries which are, in the Investment Manager’s opinion, developing countries.
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.
Risks specific to Artemis Funds (Lux) – SmartGARP Global Emerging Markets Ex China Equity
- 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.
- 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.
- Emerging markets risk Compared to more established economies, investments in emerging markets may be subject to greater volatility due to differences in generally accepted accounting principles, less governed standards or from economic or political instability. Under certain market conditions assets may be difficult to sell.
- 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.
