Artemis Global Income Class I - Accumulation (GBP)

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.

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.

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.