Investors have voted unanimously to merge the £45m Artemis European Select fund into the Artemis SmartGARP European Equity fund.
The combined fund will manage over £330m assets and will be managed by Philip Wolstencroft (pictured).
Wolstencroft, who founded the ‘SmartGARP’ systematic investment process, has managed the fund since its launch in March 2001.
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The strategy is a top quartile performer in the IA Europe ex-UK sector over one, three and five years, according to FE Fundinfo data.
Wolstencroft said: “In our fund we own stocks with a historical yield of over 4%, and the growth rate in earnings and cashflows for these companies has been averaging about 7% per annum for the past decade.
“Given that the return from any asset is a function of its yield plus its growth rate, I’m positive on the outlook for the fund.”