The fund’s objective is to generate a total return greater than the iBoxx £ Collateralized & Corporates Index (the fund’s benchmark), after fees, over rolling three-year periods. GBP income (quarterly) and GBP accumulation shares are available, and on-going charges are 0.40% (I-class shares). At least 80% of the fund is invested in investment-grade corporate bonds; and the fund may also invest in the broader fixed income market. At least 80% of the fund will be denominated in or hedged back to sterling.
The fund has raised an initial £81.6 million.
Artemis’ Head of distribution, Jasper Berens, commented: “This new fund enhances further our capability in fixed income. Stephen Snowden is an experienced and respected manager with a great team behind him. By broadening what we offer, we are confident that this new fund will help us continue to meet investors’ needs.”