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Artemis Income Class I - Income (GBP)

Sell:282.94p Buy:282.94p Change: 1.77p (0.62%)
Prices as at 20 December 2024
Sell:282.94p
Buy:282.94p
Change: 1.77p (0.62%)
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 20 December 2024
Sell:282.94p
Buy:282.94p
Change: 1.77p (0.62%)
Prices as at 20 December 2024
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.

Adrian Frost is one of the most experienced UK equity income fund managers around. He's run this fund for a long time and also has the help of an ambitious team of income investors, including co-managers Nick Shenton and Andy Marsh.

We like the team's disciplined investment approach, which they've used for decades. They focus on how much cash companies make, which could support dividend growth. It's an approach that's worked wonders over the years. That doesn't indicate how the fund will do in the future though and income is not guaranteed. We think the fund could be a great core to an equity income portfolio. That's why it's on the Wealth 50 list of our favourite funds.

Our view on the sector

Equity income funds are popular with investors. Most aim 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 in the fund to boost long-term growth. Different fund managers take different approaches to income investing. Some focus on larger companies that are seen to be more stable and have paid regular dividends for many years. Others invest in higher-risk small and medium-sized companies. These might pay a lower income to start with, but have more growth potential. We think carefully chosen equity income funds can form the cornerstone of almost any portfolio.

Performance Analysis

The chart shows Adrian Frost's career track record since 1988. He's performed much better than the broad UK stock market over the long term. The fund usually holds up fairly well when the market falls, though it doesn't quite keep up when the market's rising quickly. Our analysis shows the manager, along with his more recent co-managers, have been particularly good at investing in companies in some of the UK's strongest-performing sectors. They've also consistently grown investors' income over the years. Past performance is not a guide to the future.

Investment Philosophy

The managers believe the best long-term investments are in companies that can keep growing dividends over time. They'd rather invest in a business with a moderate but growing dividend, than one paying high dividends but no growth potential. They think the businesses most likely to do this are ones earning lots of cash, so that's the main thing they look for.

Process and Portfolio Construction

Frost and the team mainly invest in large and medium-sized UK companies. They look for those with healthy cash flows and above-average dividends they think will grow faster than average too.

The managers invest in around 50 to 60 companies. They feel this gives them just the right amount of diversification, without being too diversified. They're careful not to invest too much in any single company or sector. They don't want any that do poorly to have a big impact on the fund's performance.

Although roughly 80% of the portfolio is invested in UK companies, there are some from other developed countries. This gives the fund a dose of international diversification.

question mark Manager Track Record Based on HL Quantitative Research

  • DWS Equity Income
  • Artemis Income R Dis GBP
  • Artemis Income R Acc GBP
  • IA UK Equity Income
FROM: TO:


Source: Refinitiv Lipper

Fund Track Record

20/12/19 to 20/12/20 20/12/20 to 20/12/21 20/12/21 to 20/12/22 20/12/22 to 20/12/23 20/12/23 to 20/12/24
Annual return -7.12% 12.44% 1.85% 10.82% 14.25%

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.

Fund Management Group Comment

Artemis was formed in 1997 and offers a range of funds invested in the UK, Europe and around the world. The Artemis philosophy is that a fund's primary aim is to beat the market and generally the fund managers are free to pursue their best ideas in order to achieve this. Artemis is home to some of the market's leading fund managers who are required to invest their own money into their funds, and therefore success for them is success for their investors. We feel this is a great incentive for them to continue striving for good performance.

Information about the fund

Fund manager biography

manager photo
Manager Name: Adrian Frost
Manager start date: 1 January 2002
Manager located in: London

Adrian manages the Artemis Income Fund, which he took over when he joined the firm in January 2002, and several institutional income mandates. After graduating from Jesus College, Cambridge, Adrian began his career at Deutsche Asset Management (Morgan Grenfell) in 1983. He was appointed a director there in 1990 and head of UK equities in 1996. Until July 2015, Adrian also managed the Artemis High Income Fund.

manager photo
Manager Name: Nick Shenton
Manager start date: 1 October 2012
Manager located in: London

Nick manages income mandates alongside Adrian Frost. After studying economics with French at the University of Nottingham, he started his career at F&C Asset Management in 2003. He spent four years there as an analyst and assistant fund manager on the UK and pan-European equities desks. In 2007 Nick moved to Polar Capital as a fund manager on the UK long/short equity hedge fund. He joined Artemis in 2012.

Manager Name: Andy Marsh
Manager start date: 1 February 2018
Manager located in: London

Having trained with Ernst & Young, Andy qualified as an accountant in 1997 before working as an analyst for ING Charterhouse and then for Merrill Lynch. In 2005 he moved to Investec Investment Bank as head of equity sales. From 2006 - 2017, Andy managed money at Polar Capital, where he was a partner. He joined Artemis' income team, to work alongside Adrian Frost and Nick Shenton, in February 2018.

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