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Wealth Shortlist Update: Artemis High Income

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

Artemis has announced that Alex Ralph, lead manager of the Artemis High Income fund, has left the business. David Ennett has become the new lead manager, alongside co-manager Jack Holmes.

The fund is focused on paying a high income to investors, mainly by investing in bonds. Up to 20% of the fund can invest in UK and European shares, with the aim of boosting income and capital growth. Ed Legget, manager of the equity portion, which currently makes up around 17% of the fund, will remain in his position.

We’re disappointed to see Ralph leave. We think she’s a talented investor with a flexible approach, aided by almost two decades of investment experience. She’s successfully navigated different market conditions, changing how the fund has been invested depending on her views of the wider economy and bond markets.

The new managers

We are pleased to see an element of continuity with Ed Legget remaining in place. We also recognise that David Ennett has good previous experience running high yield bond funds that produce an income at ASI and Aegon (previously Kames Capital), where he was Head of High Yield. He has a good track record running high yield bond funds from 2012, including a global high yield bond fund that he has managed since joining Artemis in 2019.

We have already spoken with Ennett and believe he has relevant experience to manage this fund. We will, however, carry out further analysis on his track record and meet with him again in due course to understand more about how he will be investing the fund.

We’ll also meet co-manager Holmes and consider how well we think they’ll work with Ed Legget. This will allow us to assess our ongoing conviction in the fund and its place on the Wealth Shortlist. As always, we will keep investors informed if our views change.

This isn’t a recommendation to make any changes to a portfolio. Investors should make sure any investments match their investment goals and attitude to risk. If you're not sure if an investment is suitable for your circumstances, please seek advice.

Scroll across to see the full chart.

Aug 16 - Aug 17 Aug 17 - Aug 18 Aug 18 - Aug 19 Aug 19 - Aug 20 Aug 20- Aug 21
Artemis High Income 8.2% 1.7% 2.0% -0.4% 12.0%
IA Strategic Bond NR 3.2% -0.3% 6.5% 3.2% 5.6%

Past performance isn't a guide to the future. Source: Lipper IM to 31/08/2021.

More about Artemis High Income including charges

Artemis High Income Key Investor Information

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

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