Closure of Artemis Positive Future Fund

Artemis Positive Future Fund is due to close on 5 September 2025.

Last updated 5 August 2025

At Artemis, we regularly review the funds across our range to ensure we are offering appropriate products to our investors. Artemis Positive Future Fund (the “Fund”) had approximately £5.49 million assets under management, as at 30 June 2025, and unfortunately due to weak investment performance since launch in April 2021, the Fund has not been able to gather sufficient assets to consider it viable. Consequently, we have undertaken an assessment of the ongoing viability of the Fund and its future prospects, in terms of increasing size and scale through gaining new investors. The following options were considered: (1) making further changes to the Fund’s investment policy and strategy, (2) transferring management of the Fund to a third-party manager, (3) merging with another Artemis fund and (4) closing the Fund. After careful review of these options, we determined that closing the Fund is in the best interests of investors as the Fund is no longer considered to be commercially viable.

The notice to shareholders dated 5 August 2025, below, describes the process for the closure of the Fund and sets out the options available to shareholders.

When will the closure take place?

The Fund is due to close on 5 September 2025 (the “Effective Date”).

What options are available to shareholders?

Please note that the options available are different dependent on if you are an ISA or JISA holder or you hold your shares outside of an ISA or JISA.

We are unable to provide tax advice and we therefore suggest that if you are in any doubt about the tax consequences of your election, you should consult a professional adviser. Please note that Artemis will not be responsible for or pay any investor’s personal tax liability arising from the closure.

1) Investors holding shares outside of an ISA or JISA

If you hold your shares outside an ISA or JISA you have a number of options. You can choose to redeem your shares early, switch to another Artemis UK-domiciled fund, or take no action and have your shares automatically redeemed on the Effective Date.

Redeem your shares:

You can redeem your holding in the Fund, free of any redemption charges, at any point up to 12:00 noon (UK time) on the Effective Date. Redemption proceeds will be paid within the usual timescales outlined in the Fund’s prospectus (we anticipate making a payment within four business days of the Effective Date). If you would like to exercise this option, please contact us by post at Artemis Fund Managers Limited, Sunderland, SR43 4BH, by telephone on 0800 092 2051 (outside of the UK +44 1133 604500) or fax on 0207 6433 708.

Please note that a redemption will be a disposal of shares which may give rise to a tax liability on chargeable gains, depending on your personal circumstances. If you have any doubt as to the action you should take in relation to this, we strongly recommend that you contact your professional adviser in the first instance.

Switch:

You are entitled to switch your shares into units/shares in another Artemis UK-domiciled fund (see www.artemisfunds.com), free of any transfer charges. If you would like to exercise this option, please contact us by post at Artemis Fund Managers Limited, Sunderland, SR43 4BH, by telephone on 0800 092 2051 (outside of the UK +44 1133 604500) or fax on 0207 6433708. Please note that instructions to switch must be received no later than 12:00 noon (UK time) on the Effective Date.

We cannot offer you advice about which fund you may wish to switch to, and we recommend that you consult with a professional adviser and read the Key Investor Information Document of any alternative fund before you choose to invest.

Please note that a switch may be treated as a disposal of shares which may give rise to a tax liability on chargeable gains, depending on your personal circumstances (as would the receipt of proceeds in the termination). If you have any doubt as to the action you should take in relation to this, we strongly recommend that you contact your professional adviser in the first instance.

Take no action:

If you choose not to switch your shares into units/shares in another Artemis UK-domiciled fund or do nothing, your shares will be redeemed at 12:00 noon (UK time) on the Effective Date. No redemption charge will be applied. The proceeds will be forwarded to the bank account details we hold on file for you. In the absence of a specified bank account, we shall make payment by cheque sent to your registered address (subject to satisfactory identification checks). We anticipate making a payment within four business days of the Effective Date.

2) Investors holding shares in an Artemis ISA

If you hold your shares in an Artemis ISA, you have a number of options. You can choose to participate in the closure, switch to another fund within the Artemis ISA or transfer to another ISA Plan Manager or redeem your ISA holding.

Participate in the closure:

If you participate in the closure and have shares in funds other than the Fund in your Artemis ISA account, we will forward the proceeds of the closure to the bank account details we hold on file for you. In the absence of a specified bank account, we shall make payment by cheque sent to your registered address (subject to satisfactory identification checks). If your Artemis ISA consists entirely of shares in the Fund, your ISA plan with us will close after the closure. You will lose the ISA benefits relating to your investment in the Fund if you participate in the closure.

Switch to another fund in the Artemis ISA or transfer to another ISA Plan Manager:

If you wish to retain the ISA benefits then you will need to switch to another fund within the Artemis ISA or transfer to another ISA Plan Manager. If you wish to transfer to another ISA Plan Manager, please do not wait to participate in the closure but instead contact your chosen ISA Plan Manager to arrange for this transfer as soon as possible. You will need to transfer all investments made in the current tax year as it is not possible to transfer part only. This means if you hold another fund in the Artemis range within your ISA, you will also need to transfer these investments.

In the event that you choose to transfer to another ISA Plan Manager you will need to contact your chosen ISA plan manager who will contact us to make the necessary transfer arrangements for you. Artemis will not charge you for the transfer of your Artemis ISA to another plan manager. If your new plan manager has not arranged this transfer with us by 12:00 noon on the Effective Date, your Artemis ISA will automatically be closed as part of the termination and we will make payment by cheque sent to your registered address (subject to satisfactory identification checks).

If you choose to switch your ISA holding in the Fund to another fund of your choosing within the Artemis range, you will not be charged. If your chosen fund is an eligible ISA investment you will not lose any of the tax advantages which you currently enjoy in your Artemis ISA as a consequence of switching.

Redeem your ISA holding:

You can redeem your holding in the Fund, free of any redemption charges, at any point prior to 12:00 noon (UK time) on the Effective Date. Redemption proceeds will be paid within the usual timescales outlined in the Fund’s prospectus. If you choose this option, it will be treated as a withdrawal from your ISA and you may lose the ISA benefits relating to your investment in the Fund.

3) Investors holding shares in an Artemis JISA

If you hold your shares in an Artemis JISA, in order to retain the JISA benefits you will need to either switch to another fund within the Artemis JISA or transfer to another JISA Plan Manager.

Switch to another fund in the Artemis JISA:

If you choose to switch your JISA holding in the Fund to another fund of your choosing within the Artemis range, you will not be charged. If your chosen fund is an eligible JISA investment you will not lose any of the tax advantages which you currently enjoy in your Artemis JISA as a consequence of switching.

Transfer to another JISA Plan Manager:

If you wish to transfer to another JISA Plan Manager, please contact your chosen JISA Plan Manager to arrange for this transfer as soon as possible. Your chosen JISA plan manager will contact us to make the necessary transfer arrangements for you. Artemis will not charge you for the transfer of your Artemis JISA to another plan manager. Your new plan manager will have to arrange the transfer with us by 12:00 noon on the Effective Date.

You will need to transfer all investments made in the current tax year as it is not possible to transfer part only. This means if you hold another fund in the Artemis range within your JISA, you will also need to transfer these investments.

List of affected share classes

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