Update to investment policy of Artemis Funds (Lux) – Short-Dated Global High Yield Bond and Artemis Funds (Lux) – Global High Yield Bond funds
We updated the investment policy of Artemis Funds (Lux) – Short-Dated Global High Yield Bond and Artemis Funds (Lux) – Global High Yield Bond funds.
Last updated 30 April 2021
We made some changes to the investment policy of the Artemis Short-Dated Global High Yield Bond and Artemis Funds (Lux) – Global High Yield Bond funds. The amendments follow a broad review of the investment policies of our high yield bond funds and aim to reflect more effectively how the funds are managed.
What changes were made?
For Artemis Funds (Lux) – Short-Dated Global High Yield Bond fund, the investment policy was amended to:
(iii) clarify that the Investment Manager shall target an average duration, across all of the bonds held by the fund, between zero and two years in normal market circumstances; and
(iv) reflect the additional restriction that the fund may only invest up to 10% in high yield bonds carrying a credit rating from Moody’s, Standard & Poor’s or Fitch, that have been given ratings whereby none are at or above B- (for Standard & Poor’s and Fitch) or B3 (for Moody’s) not qualifying as distressed/defaulted bonds at the time of purchase.
For Artemis Funds (Lux) – Global High Yield Bond fund, the investment policy was amended to:
(iii) increase the possibility for the fund to invest up to 20% of its assets in contingent convertible bonds; and
(iv) reflect the additional restriction that the fund may only invest up to 20% in high yield bonds carrying a credit rating from Moody’s, Standard & Poor’s or Fitch, that have been given ratings whereby none are at or above B- (for Standard & Poor’s and Fitch) or B3 (for Moody’s) not qualifying as distressed/defaulted bonds at the time of purchase.
Why did Artemis make these changes?
We always aim to communicate clearly with investors. An important part of that is describing as transparently as we can how we manage your investment in the funds. The changes reflect more effectively how the funds are managed.
When did the changes take place?
The changes came into effect on 30 April 2021.
Related documents
(all documents are PDFs and open in a new window)
Artemis Funds (Lux) – Short-Dated Global High Yield Bond
Artemis Funds (Lux) – Global High Yield Bond
If you are uncertain about the contents of this page, we recommend that you consult a professional adviser. If you have any questions about the changes or would like further information, please contact the fund’s administration agent by e-mail at [email protected]