Update to the investment policy and strategy statement and name of Artemis European Opportunities Fund

We updated the investment policy and strategy statement and name of Artemis European Opportunities Fund (the “Fund”) on 8 March 2022 to include details of negative screening (exclusions) that will determine certain investments that cannot be included in the Fund and to include details on how environmental, social and governance (“ESG”) considerations form part of the Fund’s investment process. The Fund’s name changed to ‘Artemis European Sustainable Growth Fund’.

Last updated 8 March 2022

We updated the investment policy and strategy statement and name of Artemis European Opportunities Fund (the “Fund”) to include details of negative screening (exclusions) that will determine certain investments that cannot be included in the Fund and to include details on how environmental, social and governance (“ESG”) considerations form part of the Fund’s investment process. The Fund’s name also changed, as detailed below.

  • Previous name: Artemis European Opportunities Fund
  • New name: Artemis European Sustainable Growth Fund

The Fund’s investment policy statement was updated to reference negative screening, excluding companies determined by the manager to be significantly involved in certain business activities (alcohol, tobacco, gambling, nuclear power, weapons and fossil fuels) or which are assessed to be in breach of the United Nations Global Compact principles on human rights, labour rights, the environment and anti-corruption.

Additional detail was added the Fund’s investment strategy statement to describe that the manager assesses the quality of companies’ ESG processes and that the Fund seeks to invest in companies that use their resources efficiently, invest in their business, and build contingent assets that will eventually contribute to cash flows over time. Detail on the manager’s assessment of a company’s sustainability practices is also included. Wording was added to state that the end result of the investment process is a portfolio of companies that the manager believes to be best in class and with the ability to grow earnings and cash flows through sustainable business practices. Wording was also added to the Fund’s investment strategy to make clear that the Fund is concentrated, typically investing in 30 to 40 companies at any time, and to provide detail on how the manager engages with company management on ESG factors.

None of the Fund’s portfolio holdings need to be sold as a result, nor are there any change in the Fund’s investment process and the operation and/or manner in which the Fund is being managed following these changes, other than the formal introduction of the exclusions as part of the investment process.

The unitholder notice available below shows the updated investment policy and strategy statement and has further details about the changes.

Why has Artemis made these changes?

The updates to the investment policy and strategy statement are intended to formalise the exclusions into the Fund’s investment policy and to provide investors with additional information on how the Fund Manager considers ESG factors within the investment process and engages with companies on their sustainability practices. The Fund Manager believes that the relative importance of assessing sustainability factors within the Fund’s investment process has increased over time and the updates are intended to formalise these considerations in the Prospectus.

The new name of the Fund, Artemis European Sustainable Growth Fund, is felt to better represent the Fund’s investments, namely shares of European (ex UK) companies that the manager believes can grow earnings and cash flows through sustainable business practices.

How are investors impacted by this change?

As explained above, there should be no impact on you as a result of these changes and there will be no change to the way in which the Fund is managed, other than the introduction of exclusions as part of the investment process.

Artemis Investment Management LLP, the Fund’s Investment Advisor, will bear the cost of the expenses incurred in making these updates.

Contact

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]

Related documents 

List of affected unit classes

  • Class I accumulation GBP ISIN GB00B6WFCR53
  • Class I accumulation GBP hedged ISIN GB00B6WFCS60
  • Class I distribution GBP ISIN GB00B6WFCT77
  • Class I distribution GBP Hedged ISIN GB00B6WFCV99