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Artemis Global Income Class I - Accumulation (GBP)

Sell:380.41p Buy:380.41p Change: 5.26p (1.40%)
Prices as at 22 January 2026
Sell:380.41p
Buy:380.41p
Change: 5.26p (1.40%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
Prices as at 22 January 2026
Sell:380.41p
Buy:380.41p
Change: 5.26p (1.40%)
Prices as at 22 January 2026
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund is on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. However, this is not a recommendation to buy.

This fund aims to deliver income and growth by investing in companies from around the world. Income is generated through a variety of sources, from mature, reliable dividend payers to lower quality, higher yielding companies. A focus on global companies perceived to be undervalued means the fund could work well alongside more growth-focused funds or add diversification to a UK-centric income portfolio.

We believe this fund offers something different to other global income funds. De Tusch-Lec’s stayed true to his philosophy during tougher periods but also shown flexibility depending on market conditions. Whilst the fund’s tended to provide a higher level of income, it’s been more volatile than most of its peers in the IA Global Equity Income sector.

Our view on the sector

Equity income funds are popular with investors. Most try to generate a rising income, and increase the value of your original investment, over the long term. The income can be paid out, or reinvested to boost long-term growth. Equity income funds have traditionally focused on the UK, and there's still a strong case for UK equity income. But there's a growing case for investing globally for income too. The number of companies outside the UK offering high and rising dividends has increased rapidly. And exposure to foreign currencies will boost returns if sterling weakens, like it did after the UK voted to leave the European Union in 2016, but the reverse is true if sterling strengthens.

Performance Analysis

The fund has performed better than the IA Global Equity Income sector since launch in July 2010. Remember though, past performance isn't a guide to the future.

While we typically expect the fund to perform strongly in a rising market, it‘s outperformed beyond our expectations at times, such as in 2024 and much of 2025. Investors should be aware there have also been times where the fund hasn’t performed as well as the market or its peers and, as with all active funds, this will happen at times in the future too. Different investment styles and investment sectors will come in and out of favour, so investors should ensure they maintain diversified portfolios.

The fund’s charges are taken from capital, which can increase income but reduce the potential for capital growth over time. The fund and the level of income produced can fall as well as rise in value, so investors could get back less than they invest.

Investment Philosophy

De Tusch-Lec aims to provide a balance of both income and growth over the long term. He invests differently than most other managers in the sector. In his view, the best long-term results are achieved by investing in unloved companies rather than popular ones. He also thinks it’s important to combine his thoughts on a company with his views on the wider global economy.

Process and Portfolio Construction

The managers carry out detailed company analysis to identify those with a healthy amount of cash to either pay dividends or buy back shares. As a contrarian, de Tusch-Lec isn’t afraid to invest in out-of-favour companies with recovery potential. He also invests in smaller companies and emerging markets, both of which increase risk. The managers have the flexibility to use derivatives to help manage the portfolio, which if used, increase risk.

The fund is divided into three buckets. ‘Core income’ forms the foundation of the fund and has historically accounted for around 40% of it. These companies tend to be more mature and less sensitive to the wider economy, meaning they’re able to provide a steadier dividend. The ‘dividend growth’ bucket focuses on companies with the ability to provide an attractive and growing dividend, but which are likely to be more exposed to the health of the broader economy. Finally, ‘risk and special situations’ is usually the smallest of the three. It’s home to higher risk, lower quality companies which have the potential to pay higher dividends in the future.

In addition to company-specific research, the managers take a view on the direction of the global economy. They consider factors like the economic cycle, interest rates and the yield curve. The outcome influences the amount in each bucket.

question mark Manager Track Record Based on HL Quantitative Research

  • Artemis Global Income I Acc GBP
  • IA Global Equity Income
FROM: TO:


Source: Refinitiv Lipper

Fund Track Record

22/01/21 to 22/01/22 22/01/22 to 22/01/23 22/01/23 to 22/01/24 22/01/24 to 22/01/25 22/01/25 to 22/01/26
Annual return 18.52% -0.39% 9.30% 35.17% 48.15%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Information about the fund

Fund manager biography

manager photo
Manager Name: Jacob de Tusch-Lec
Manager start date: 19 July 2010
Manager located in: London

Jacob has managed Artemis’ Global Income strategy since July 2010. He also co-manages the equities element of Artemis’ Monthly Distribution multi-asset strategy, which launched in May 2012. Having joined Artemis in 2005, he managed a UK equity strategy from January 2006 until June 2010. Jacob began his career in 1998 at BankInvest, one of Scandinavia’s largest independent fund managers. In 2002 he joined Merrill Lynch as vice-president of its pan-European equity strategy. Jacob holds a Bachelor of Arts and a master's in economics from the University of Copenhagen, as well as an MBA from the Stern School of Business at New York University (NYU).

Manager Name: James Davidson
Manager start date: 1 April 2020
Manager located in: London

James joined Artemis’ Global Income team in 2018 and co-manages the equities element in Artemis’ Monthly Distribution strategy. After gaining a Bachelor of Arts in economics from the University of Sussex (1992) and a master's in economic history from the University of Oxford (1993), James joined Baillie Gifford as an analyst in the US equities team. He then moved to Morgan Grenfell as an analyst and, latterly, a manager of US equities before 13 years at Bank of America Merrill Lynch, where he co-founded and later ran its global equity sales team. In 2013, James became a portfolio manager at JP Morgan, where he ran global equity income portfolios. He is a CFA charterholder.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now