Reduction of Base Administration Fees for certain UK funds

On 1 August 2024 we will be reducing the Base Administration Fee of Artemis SmartGARP Global Emerging Markets Equity Fund by 0.04%, aligning it with that of other global equity funds offered by Artemis. On the same date we will also be reducing the Base Administration Fee by 0.01% of Artemis Global Income Fund, Artemis Global Select Fund, Artemis Positive Future Fund, Artemis SmartGARP Global Equity Fund, Artemis US Extended Alpha Fund, Artemis US Select Fund and Artemis US Smaller Companies Fund.

On 1 August 2024 we reduced the Base Administration Fee of Artemis SmartGARP Global Emerging Markets Equity Fund by 0.04%, aligning it with that of other global equity funds offered by Artemis.

On the same date we also reduced the Base Administration Fee by 0.01% for the following funds:

  1. Artemis Global Income Fund
  2. Artemis Global Select Fund
  3. Artemis Positive Future Fund
  4. Artemis SmartGARP Global Equity Fund
  5. Artemis US Extended Alpha Fund
  6. Artemis US Select Fund
  7. Artemis US Smaller Companies Fund

The Administration Fee is calculated and accrued daily and is deducted monthly in arrears from the relevant fund. A Base Administration Fee is applied and is then discounted depending on the size of the relevant fund’s Net Asset Value. The fund size discount levels as follows: 

Net Asset Value of the fund 
 Discount applied to the Base Administration Fee 
£0-£250m  Nil
£250m - £750m  0.01% 
£750m - £1.5bn 
 0.03% 
£1.5bn - £3bn 
 0.05% 
Above £3bn 
 The Minimum Administration Fee for the fund is applied, rather than a discount

Further explanation of the Base Administration Fee and the fund size discount levels can be found in the ‘Fund charges and costs’ document (PDF, opens in new window).

Investors should note that reducing the Base Administration Fee has the effect of immediately reducing the current rate of the administration fee applied. However, there will be no change to the fund size discount levels (described above), which will continue to operate as normal, or the Minimum Administration Fee.

The changes in Base Administration Fees and discounted Administration Fees are shown in the table below:

Fund
 Current Base Administration Fee  New Base Administration Fee (from 1 August 2024)  Current discounted Administration Fee*  New discounted Administration Fee (from 1 August 2024) 
Artemis Global Income Fund  0.15% 
 0.14%  0.12% 0.11% 
Artemis Global Select Fund  0.15% 
 0.14% 
 0.14%  0.13%
Artemis Positive Future Fund 
 0.15% 
 0.14% 
 0.15% 0.14% 
Artemis SmartGARP Global Emerging Markets Equity 
 0.18% 
 0.14% 
 0.15% 0.11% 
Artemis SmartGARP Global Equity Fund 
 0.15%
 0.14% 
 0.14%  0.13% 
Artemis US Extended Alpha Fund 
 0.15%  0.14% 
 0.15%  0.14% 
Artemis US Select Fund  0.15%  0.14% 
 0.10%  0.09% 
Artemis US Smaller Companies Fund  0.15%  0.14% 
 0.12%  0.11% 

*As of 31 May 2024, based on the Net Asset Value of the relevant fund

Why is Artemis making these changes?

On 31 March 2023 we wrote to investors to inform them of the change of administrator and transfer agent to Northern Trust. This change took effect on 2 May 2023. Following this change and a wider review of fund administration fees, we have been able to realise savings in expenses charged within the administration fee. We are now able to pass savings on to investors.

When will the changes take place?

The Base Administration Fees reduced on 1 August 2024.

How will investors be impacted by this change?

Investors do not need to take any action. The reduced administration fees will be reflected in lower ongoing charges paid by investors.

Further information

If you are uncertain about the details of this change, we recommend that you consult a professional adviser. For further 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 e-mail at [email protected].

Please see our glossary of terms, to explain any investment terminology that you may be unfamiliar with.

List of affected share/unit classes:

Artemis Global Income Fund

  • Class C Accumulation GBP (ISIN: GB00BHL2C748)
  • Class C Distribution GBP (ISIN: GB00BHL2C854)
  • Class I Accumulation GBP (ISIN: GB00B5ZX1M70)
  • Class I Distribution GBP (ISIN: GB00B5N99561)
  • Class R Accumulation GBP (ISIN: GB00B5V2MP86)
  • Class R Distribution GBP (ISIN: GB00B5VLFH80)

Artemis Global Select Fund

  • Class C Accumulation GBP (ISIN: GB00BHL2BP55)
  • Class I Accumulation GBP (ISIN: GB00B568S201)
  • Class I Distribution GBP (ISIN: GB00BJMD6S90)
  • Class J Accumulation GBP (ISIN: GB00BMXN2B44)
  • Class J Distribution GBP (ISIN: GB00BMXN2C50)
  • Class R Accumulation GBP (ISIN: GB00B5QKCK29)

Artemis Positive Future Fund

  • Class F Accumulation GBP (ISIN: GB00BMVH5755)
  • Class F Distribution GBP (ISIN: GB00BMVH5862)
  • Class I Accumulation GBP (ISIN: GB00BMVH5979)
  • Class I Distribution GBP (ISIN: GB00BMVH5B96)

Artemis SmartGARP Global Emerging Markets Equity

  • Class I Accumulation GBP (ISIN: GB00BW9HL132)
  • Class I Distribution GBP (ISIN: GB00BW9HL249)
  • Class E Accumulation GBP (ISIN: GB00BNQNJ512)
  • Class E Distribution GBP (ISIN: GB00BNQNJ405)

Artemis SmartGARP Global Equity Fund

  • Class C Accumulation GBP (ISIN: GB00BHL2C631)
  • Class I Accumulation GBP (ISIN: GB00B2PLJP95)
  • Class I Distribution GBP (ISIN: GB00BNDVGY66)
  • Class R Accumulation GBP (ISIN: GB0006795743)

Artemis US Extended Alpha Fund

  • Class I Accumulation GBP (ISIN: GB00BMMV5G59)
  • Class I Accumulation GBP Hedged (ISIN: GB00BYSZ0151)

Artemis US Select Fund

  • Class I Accumulation GBP (ISIN: GB00BMMV5105)
  • Class I Accumulation GBP Hedged (ISIN: GB00BYSYZX95)
  • Class I Distribution GBP (ISIN: GB00BWWZ2D39)

Artemis US Smaller Companies Fund

  • Class E Accumulation GBP (ISIN: GB00BPX39Y78)
  • Class I Accumulation GBP (ISIN: GB00BMMV5766)
  • Class I Accumulation GBP Hedged (ISIN: GB00BK6RLD43)