Change to investment policy and negative screens of the Artemis Global Select Fund

On 6 November we changed the Artemis Global Select Fund’s (the “Fund”) investment policy, specifically the Fund-specific exclusions (negative screening) and the description of the investment strategy.

Updated 6 Nov 2024

What has changed?

1. The negative screening in the investment policy:

Added an exclusion on companies producing electricity by burning thermal coal.
Added negative screening of companies determined to be in breach of the United Nations Global Compact (UNGC) principles on human rights, labour rights, the environment and anti-corruption* violations.
Changed the exclusion on conventional or nuclear weapons, related components or systems to focus on makers of controversial weapons and companies involved in the production of civilian firearms and ammunition.
Changed the negative screening on tobacco to tobacco production only.
Changed the blanket fossil fuels exclusion to focus on excluding companies involved in the production of artic oil and gas and extraction of oil sands.
Removed the exclusion on gambling.

2. Changes to the description of the Fund’s investment process to clearly describe how the Global Equities team manages the Fund

There was no change to the Fund’s investment objective which is to grow capital over a five-year period. There was also no change to the Fund’s comparator benchmarks, as currently, these do not restrict the management of the Fund. The benchmarks continue to be (i) the MSCI AC World NR index and (ii) the IA Global NR sector.

Full details of the changes to the Fund’s investment policy and strategy are set out in the investor letter found below.

Why is Artemis making changes to the wording of the investment process?

The new investment team, led by Alex Stanić, took over management of the Fund in October 2023. The team has been evolving the strategy to ensure it is well positioned to deliver the best possible outcomes for clients. The highly experienced team has made enhancements to the investment process, strengthening the approach to valuation, refreshing the thematic framework and the approach to sustainability. These changes are reflected in the revised investment policy and strategy.

When did the changes take place?

The changes became effective on 6 November 2024.

Further information

If you are uncertain about the contents of this letter, we recommend that you consult a financial adviser.

If you have any questions about the information, please contact our Fund Service Centre on 0800 092 2051 (outside the UK +44 1133 604500) between 8:00am and 6:00pm (Monday to Friday) or by email at [email protected].