Artemis is set to launch a Sicav version of its UK Select fund, allowing international investors access to the vehicle.
The unit trust version of the strategy has been managed by Ambrose Faulks and Ed Legget since December 2015. Together, they manage approximately £2bn of assets.
The proposed Sicav fund will be identical to the UK unit trust, with Artemis receiving approval for the fund from the Luxembourg regulator, the CSSF.
According to FE Fundinfo data, the fund is the top-performing strategy in the IA UK All Companies sector over five years. In that period, it has returned 70.7%, compared to the sector average 20.2%.
Legget said: “The UK stock market has been out of favour for the last decade. At a sector level its bias towards more capital- and balance-sheet-intensive businesses has been a headwind for both earnings and valuations in a world of low interest rates and quantitative easing. This is now changing.
“On the macroeconomic front, consensus expectations for the UK economy remain on the upside, supported by latest forecasts from the UK’s Office for Budget Responsibility (OBR). Modest tax cuts in the recent Budget should support the earnings of domestic-focused holdings.”
See also: BJSS and Sparck: Half of UK businesses might not exist in 10 years
