Introducing Artemis

Artemis is a leading UK-based fund manager, offering a range of funds which invest in the UK, Europe, the US and around the world. As a dedicated, active investment house, we specialise in investment management for both retail and institutional investors.

  • Our philosophy

    Independent and owner-managed, Artemis opened for business in 1997. Its aim was, and still is, exemplary investment performance and client service.

  • Selecting stocks

    How we build ‘high conviction’ portfolios for our clients.

  • Our investment approach

    Our objective is to outperform the market and produce long-term returns for the people whose money we manage.

  • Stewardship and voting

    Everything Artemis does is designed to deliver outstanding performance and service to our clients. This also defines the firm’s approach to corporate governance and stewardship.

  • Our voting policy

    Artemis is an active investment manager. Developing relationships with the companies in which we own shares is integral to that.

  • Our awards

    Artemis encourages freedom of thought among its fund managers and allows them to develop an individual style.

Our philosophy

Fig. 1: The Artemis logo, with the bronze coin featuring Artemis, the Greek goddess of the hunt
Fig. 1: The Artemis logo, with the bronze coin featuring Artemis, the Greek goddess of the hunt

The firm now manages some

£25.6 bn

(€29.1bn / $33.2bn)

across a range of funds, two investment trusts, a venture capital trust and both pooled and segregated institutional portfolios. A number of these funds are available to investors in continental Europe and Singapore.

(as at 30 June 2017)

Introducing the business of Artemis

Mark Tyndall and Richard Turpin introduce Artemis 5.02 mins

Independent and
owner-managed

Fig. 2: The Profit hatches from carefully tended nest eggs
Fig. 2: The Profit hatches from carefully tended nest eggs

Independent and owner-managed, the firm’s aim has always been to offer exemplary performance and client service. All Artemis’ staff share these two precepts – and the same flair and enthusiasm for fund management. Our managers invest in their own and their colleagues’ funds, which aligns their interests directly with those of our investors.

How we relate to the world beyond fund management is also part of our distinctive culture. Each year the firm gives a proportion of revenues to the Artemis Charitable Foundation. Our staff and the trustees choose which charities will benefit.

Employees get involved directly too, through a range of activities: from painting a child’s bedroom or mentoring a teenager. Our annual Artemis Great Kindrochit Quadrathlon raised over £135,000 for good causes in 2016. Meanwhile, Artemis matches all personal charitable donations by partners and staff.

How we build ‘high conviction’ portfolios for our clients

Fig. 3: The Profit hatches from carefully tended nest eggs
Fig. 3: The Profit hatches from carefully tended nest eggs

Artemis’ managers immerse themselves in their markets. They do this through research (both their own and external), conferences, meetings with analysts, economists and industry experts, and with the management of companies, and conversations with each other.

Artemis runs a ‘knowledge management system’ (which we call Delphi, as in the oracle). Delphi stores all this information and analysis so that it can be shared across the firm.

Some of our fund managers also use proprietary stock-screening systems, which narrow down the number of stocks to be examined in more detail. This allows them to concentrate their time, knowledge and skills on the most promising investments.

Whatever markets are doing, there will be opportunities for active managers to make above-average returns. This means we only buy a share if we think it is undervalued, not because it represents a big proportion of the index. We respect our benchmarks but are not driven by them.

This produces ‘high conviction’ portfolios which differ markedly from those of our competitors and benchmark indices.

Our investment approach

Fig. 4: The Profit hatches from carefully tended nest eggs
Fig. 4: The Profit hatches from carefully tended nest eggs

Our sole objective as investors is to outperform the market and produce long-term returns for the people whose money we manage.

We do so while keeping an eye on absolute, as well as relative, returns - although we are well aware that in periods of crisis, it is not always possible for our funds to avoid losing value. When this happens, we, and our investors, need to be patient. It seldom makes sense to reduce market exposures after share prices have fallen. Equally, when markets are rising, we believe that there are always opportunities for active stock-pickers to outperform.

We have a history of recruiting and training fund managers with proven skills – and we have an excellent record of retaining fund managers. Our managers have the freedom to invest without the constraints of a single house style or process.

Yet Artemis’ policy of co-investment, and our structure as a partnership, give our managers every reason to share their views with each other. They are open, communicative and always keen to debate investment ideas.

We try to keep bureaucracy to a minimum, allowing our managers 
to concentrate on what they do best – selecting the right stocks or bonds for our clients. Our investment teams have a collegiate approach. Drawing on each other's experience and knowledge, sharing ideas and insights between teams, specialist units operate with support from the wider business towards a common goal.

Stewardship and voting

Fig. 5: The Profit hatches from carefully tended nest eggs
Fig. 5: The Profit hatches from carefully tended nest eggs

Everything Artemis does is designed to deliver outstanding performance and service to our clients. This also defines the firm’s approach to corporate governance and stewardship.

The concept of corporate governance, as it is now understood, emerged in the 1990s – and has been evolving ever since. Our view of what it means and how it is practised is based on the definitions given by the Financial Reporting Council (opens in a new window) in its UK Corporate Governance and UK Stewardship Codes.

“The purpose of corporate governance is to facilitate effective, entrepreneurial and prudent management that can deliver the long-term success of the company. Corporate governance is therefore about what the board of a company does and how it sets the values of the company. It is to be distinguished from the day to day operational management of the company by full-time executives.”

Stewardship aims to promote the long term success of companies in such a way that the ultimate providers of capital also prosper. Effective stewardship benefits companies, investors and the economy as a whole. In publicly-listed companies responsibility for stewardship is shared. The primary responsibility rests with the board of the company which oversees the actions of its management. Investors in the company also play an important role in holding the board to account for the fulfilment of its responsibilities.”

Our voting policy

Fig. 1: The Profit Bird
Fig. 1: The Profit Bird

Artemis is an active investment manager. Developing relationships with the managements, boards and other representatives of companies in which we own shares is integral to that. As stockpickers, we scrutinise performance, strategy, risk and financing, as well as corporate governance. (The exception is our quantitative investment strategies, such as those funds using our ‘SmartGARP’ screening tool, where detailed financial analysis comes to the fore).

As part of our stewardship, we use our voting rights to safeguard our clients’ investments. External research has an input, but our fund managers make the final decisions on how to vote.

We support the principles set out by the Financial Reporting Council in The UK Stewardship Code. Our statement, ‘Corporate governance and shareholder engagement’, explains how we do that in practice. Artemis’ voting policy forms part of this: it outlines the firm's stance on the composition of boards and committees, the election of directors, executive pay, audit and shareholders’ rights.

Since April 2015, we have also been signatories to the United Nations-supported Principles of Responsible Investment (PRI). The PRI encourages investors to use responsible investment to enhance returns and better manage risks.

If you are an institutional investor interested in collective engagement, or a company with questions about our approach to corporate governance, please contact [email protected].

Our awards

Artemis encourages freedom of thought among its fund managers and allows them to develop an individual style.

Our record validates this approach, as do numerous industry awards. But, please remember, past performance is not a guide to the future.

Lipper Fund Awards
Portfolio Adviser Fund Awards 2016 - Platinum award, International Equity Income category
Best Equity Group – RSMr ‘R’ Awards 2016
Online Personal Wealth Awards 2017