Update to investment policy of Artemis Funds (Lux) – SmartGARP Global Emerging Markets Equity and Artemis Funds (Lux) – Positive Future

Updated 20 September 2022

Artemis Funds (Lux) – SmartGARP Global Emerging Markets Equity

We have updated the investment policy of Artemis Funds (Lux) – SmartGARP Global Emerging Markets Equity to include details of negative screening (exclusions) and additional disclosures to comply with the SFDR requirements for Article 8 financial products.

The fund’s investment policy has been updated to include (i) details of negative screening (exclusions) that will take place as part of the fund’s investment process and (ii) additional disclosures to comply with the requirements imposed by the Sustainable Finance Disclosure Regulation 2019/2088 ("SFDR") for Article 8 financial products. 

Further to this update, the fund promotes environmental or social characteristics within the meaning of Article 8 of SFDR. The Investment Manager pays particular attention to companies’ current and expected carbon footprint, with the fund aiming to have a falling carbon emission intensity over the long term, at least five years.

The shareholder letter attached below show the updated investment policy section of the fund.

Artemis Funds (Lux) – Positive Future

We have updated the investment policy statement of Artemis Funds (Lux) – Positive Future to reflect amendments to the negative screening (exclusions), part of the fund’s investment process.

The fund’s investment strategy and key features has not changed as a result, nor were any of the fund’s portfolio holdings sold as a result of the amendments.

The fund’s alcohol, tobacco and gambling exclusions were amended so that companies which derive more than 5% revenue from each business activity are excluded, rather than 10% previously.

The fund’s nuclear power exclusion were widened to include companies which mine uranium, generate nuclear power or which supply key nuclear-specific products and services.

The fund’s fossil fuel exclusion has been widened to include companies owning oil and gas reserves, engaging in conventional and unconventional oil and gas production and processing, owning thermal coal reserves, mining of thermal coal or generating thermal coal-based electricity.

Two new exclusions are included:

• Biodiversity and land use: Companies that the Manager determines to be implicated in severe controversies related to the company’s use or management of natural resources; and
• Companies that the Manager determines to be in breach of the United Nations Global Compact principles on human rights, labour rights, the environment and anti-corruption.

There have been no changes to the fund’s other exclusions.

Investors should note that companies involved in such business activities or implicated in such controversies would not be considered part of the fund’s investable universe since the launch of the fund, given the requirement that investee companies must meet the Manager’s criteria for positive environmental and social impact. Therefore, none of the fund’s portfolio holdings needed to be sold as a result, nor were there any change in the fund’s investment strategy and the operation and/or manner in which the fund is managed following these changes. All other key features of the fund remain the same.

The shareholder letters attached below show the updated investment policy section of the fund.

Why did Artemis make these changes?

The changes are intended to clarify the way in which the funds are managed. As explained above, none of the either fund’s portfolio holdings needed to be sold as a result. There has not been any change in either fund’s investment strategy and the operation and/or manner in which the funds are managed following these changes.

All other key features of the funds remain the same.

When did the changes take place?

The changes came into effect on 20 September 2022. Investors did not have to take any action as a result. 

Contact

If you are uncertain about the details of this change, we recommend that you consult a professional adviser. For further information, please contact our Client Services team:

• 0800 092 2051 (outside the UK +44 1268 445 401) between 8am and 6pm (Monday to Friday)
• [email protected]

For investors in Germany and Austria: the Prospectus, together with the Supplements, the Key Investor Information Documents, the Constitution of the Company and the annual and semi-annual reports of the Company, each in paper form, as well as the issue, repurchase and any exchange prices are available and may be obtained free of charge at the office of the Austrian Facility: FE Fundinfo, 77 Rue du Fossé, 4123 Esch-sur-Alzette, Luxembourg and at the office of the German Information Agent: GerFIS – German Fund Information Service GmbH, Zum Eichhagen 4, 21382 Brietlingen, Germany.

For investors in Switzerland: the Prospectus, the Key Investor Information Documents, the statutes, the annual and semi-annual reports of the Company may be obtained free of charge from the Swiss Representative and Paying Agent, RBC Investor Services Bank S.A., Esch-sur-Alzette, Zurich Branch, Bleicherweg 7, CH-8027 Zurich. This document may only be distributed in Switzerland to qualified investors within the meaning of Art. 10 para. 3 to 3ter CISA.

Affected share classes

Artemis Funds (Lux) – SmartGARP Global Emerging Markets Equity

Artemis Funds (Lux) – Positive Future

Related documents

(all documents are PDFs and open in a new window)

• Letter to shareholders of Artemis Funds (Lux) – SmartGARP Global Emerging Markets Equity, dated 19 August 2022
• Letter to shareholders of Artemis Funds (Lux) – Positive Future, dated 19 August 2022