Artemis Funds (Lux) – US Smaller Companies

Select share class

CapabilityUS equities

Fund size£390.4m

Fund launch date11 May 2018

Fund typeSICAV

As at 30 Apr 2026

Price

£1.6689

01 Jun 2026

Seeking to harness the diverse growth opportunities of smaller US firms

US focused holdings

Accesses a diverse mix of businesses that derive the majority of revenues domestically, including niche players and regional firms

Disciplined approach

Portfolio of 40-60 company shares of smaller firms using an investment process that places a strong emphasis on assessing downside risk

Intensive research

Draws on research from the broader US team of managers and analysts who conduct over 250 company meetings each year

Managed since launch

Managed since Sep 2022

Key details

Benchmark	Russell 2000 Index
Base currency	USD
SFDR classification	Article 8
Unit type	Accumulation
Year end	31 Oct
Pay dates	31 Dec
Valuation point	16:00 CET
ISA eligible	Yes

This fund is actively managed.

Objective

To increase the value of Shareholders’ investments primarily through capital growth.

There is no guarantee that the fund will achieve a positive return over a five-year period or any other time period and your capital is at risk.

Investment policy

The Fund invests principally in equities of smaller companies that are listed on a recognised stock exchange in the USA. Typically these are companies with a market capitalisation of less than $20bn at the time of purchase.

At times the Fund may invest in equities of companies of equivalent size that are headquartered or exercise the predominant part of their economic activity in the USA, but which are listed on a regulated stock exchange outside the USA.

Shares in the following types of companies (held either directly or indirectly via derivatives) are automatically excluded:

Tobacco: companies which derive any revenue from tobacco production;
Weapons: companies:
- involved in the production of controversial weapons (including cluster munitions, landmines, biological and chemical weapons); or
- which derive more than 10% revenue from manufacture or sale of civilian firearms or ammunition;
Coal: companies which derive more than 5% revenue from mining or sale of thermal coal;
Companies that the Investment Manager determines to be in breach of the United Nations Global Compact principles on human rights, labour rights, the environment and anticorruption.

The Fund promotes environmental and/or social characteristics within the meaning of Article 8 of SFDR. The Investment Manager seeks to decrease the Fund’s exposure to climate risk and benefit from the opportunities associated with the transition to a net-zero emissions economy through investing in companies which are actively managing their carbon exposure and setting meaningful targets. Further information is contained in a methodology statement available on the Artemis website at www.artemisfunds.com/methodology-statement. The evaluation of environmental, social and governance factors is determined by the Investment Manager using information provided by the companies (for example company sustainability reports) and third-party data, focusing on scores and metrics which that the Investment Manager considers to be relevant. More information about the environmental or social characteristics for this Fund is available in the pre-contractual disclosure for financial products referred to in Article 8 under SFDR which follow the Fund’s details and which form an integral part of the Prospectus.

The Fund may use derivatives and other techniques for hedging and for efficient portfolio management. The Fund's derivatives may include, but are not limited to, futures and forward currency contracts. Subject to the limits set out in the Investment Restrictions, the Fund may also hold ancillary liquid assets for treasury purposes. The Fund may invest up to 10% of its Net Asset Value in other collective investment schemes.

Portfolio

Top 10 holdings (%)

JB Hunt Transport Svcs	4.6
Primoris Services	4.1
Coherent	3.9
nVent Electric	3.7
CenterPoint Energy	3.7
Evercore	3.6
Quest Diagnostics	3.5
Applied Optoelectronics	3.4
Crane	3.1
Globus Medical	2.9

Total number of holdings

Market cap breakdown (%)

>$20 bn	38.3
$10-20 bn	32.7
$5-10bn	21.1
$2-5 bn	5.1
<$2 bn	1.3

Sector breakdown (%)

Industrials	28.4
Health Care	17.7
Technology	13.1
Financials	12.6
Consumer Discretionary	7.6
Utilities	5.7
Real Estate	5.6
Basic Materials	3.7
Telecommunications	3.4
Consumer Staples	0.7

Source: Artemis as at 30 April 2026.

Figures may not add up to 100% due to rounding and cash and derivative holdings. Visit Glossary of terms for an explanation of investment terms.

Share class information

Share class	ISIN	SEDOL	Launch date	Min investment	OCF*
I Acc GBP	LU2262941987	BMW58X5	14 Dec 2020	£250,000	0.910%
I Dist GBP	LU2992297346	BNXK922	19 Feb 2025	£250,000	0.930%
I Acc USD	LU1805264717	BZ1MJN5	11 May 2018	$250,000	0.910%
I Acc EUR	LU1805264980	BZ1MHH5	11 May 2018	€250,000	0.910%
A Acc USD	LU1901908894	BGXCC64	06 Nov 2018	$25,000	1.700%
A Acc EUR	LU1902700258	BG47DD2	04 Feb 2026	€25,000	1.700%
B Acc USD	LU1805264634	BZ1MJL3	31 Jul 2018	$250,000	0.950%
B Acc EUR	LU1805264808	BZ1MHG4	07 Mar 2019	€250,000	0.950%

*The OCF (ongoing charge figure) covers the annual operating expenses of running the fund. Additional costs may be incurred, such as portfolio transaction costs and transfer taxes, which may reduce performance. It is calculated using the most recent data available. Further information about the fund’s charges can be found in the Key Investor Information Document and by visiting: Charges and costs.

Risk considerations

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.

Smaller companies risk

Investing in small companies can involve more risk than investing in larger, more established companies. Shares in smaller companies may not be as easy to sell, which can cause difficulty in valuing those shares.

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.

Risk and reward profile

The fund is in the category shown due to historic volatility (how much and how quickly the value of shares in the fund may have risen and fallen in the past due to movements in markets, currencies and interest rates). It may not be a reliable indication of the future risk profile of the fund. The figure highlighted in the risk reward profile is the Synthetic Risk and Reward Indicator (SRRI). For more information visit our Glossary of terms.

Integrating investment and stewardship

We believe stewardship activities can contribute to better performing companies and therefore our return to clients. These activities encompass environmental, social and governance (ESG) integration, engagement and voting.

ESG factors are considered as part of our ‘Up/Down’ investment process. Key to stock selection is that a risk is only worth taking if the potential reward from owning a stock significantly exceeds the potential loss. The team structure and specialism means that ESG factors are analysed on an industry and company specific basis. Inputs include a range of ESG metrics, analysis and assessments from internal and external research.

SFDR fund sustainability disclosure (PDF)

Under the EU's Sustainable Finance Disclosures Regulation (SFDR), our Luxembourg funds are required to make certain disclosures in regard to their investment processes in order to help investors understand their approach to sustainability. The English version of this document contains the full set of disclosures, whilst versions in other languages contain summaries only.

How to invest

Contact us

Find your local sales contact

Our London head office:

Tel: 0800 092 2051

Email sales support

Artemis Investment Management

Cassini House

57 St James's Street

London SW1A 1LD

Other information

FOR PROFESSIONAL INVESTORS AND/OR QUALIFIED INVESTORS AND/OR FINANCIAL INTERMEDIARIES ONLY. NOT FOR USE WITH OR BY PRIVATE INVESTORS.

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) above or on the literature page. The documents can also be found on www.fundinfo.com.

Investment in a fund concerns the acquisition of units/shares in the fund and not in the underlying assets of the fund.

Reference to specific shares or companies should not be taken as advice or a recommendation to invest in them.

The fund is a sub-fund of Artemis Funds (Lux). For further information, visit our fund structures page

For changes made to the Artemis Funds (Lux) range of Luxembourg-registered funds since launch, visit our fund changes page

Third parties (including FTSE, Russell, MSCI and Refinitiv) whose data may be included in this document do not accept any liability for errors or omissions. For information, visit our third party data page

Any research and analysis in this communication has been obtained by Artemis for its own use. Although this communication is based on sources of information that Artemis believes to be reliable, no guarantee is given as to its accuracy or completeness.

Any forward-looking statements are based on Artemis’ current expectations and projections and are subject to change without notice.

To the extent that this material is used for investors in Singapore, it is suitable only for institutional and accredited investors (“relevant persons”). The fund may not be offered or sold, or made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor under Section 304 of the SFA, (ii) to a relevant person pursuant to section 305(1), or any person pursuant to Section 305(2), and in accordance with the conditions specified in Section 305 of the SFA, or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.

Issued by: Artemis Investment Management LLP which is authorised and regulated by the Financial Conduct Authority; in Germany, AI Management (Europe) GmbH; in Switzerland, Artemis Investment Services (Switzerland) GmbH

Additional information for investors in Switzerland: CACEIS Bank, Montrouge Zurich branch/Switzerland, Bleicherweg 7, CH 8027 Zurich acts as the Swiss Representative and Paying Agent.

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”). We recommend that you get independent financial advice before making any investment decisions. The FCA introduced a package of measures during 2024 called the Sustainability Disclosure Requirements (SDR). The Company is not subject to these requirements.