Artemis to bring in external teams to launch new products

Artemis will be looking to bring in external investment teams to launch new products in the next two years, according to new head of retail Richard Pursglove.

Mr Pursglove joined Artemis from Goldman Sachs Asset Management at the start of September, following on from the hire of Alan Gadd as head of product and distribution development, as the firm looked to bolster its sales force.

Mr Pursglove, who worked at Gartmore, Cazenove and Henderson previously, said Artemis had launched products “opportunistically” in the past but that the firm would be looking “rather more strategically” at growth opportunities in the future.

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He said: “You should expect in the next two years to see more products, but it has not yet been decided what that will be yet.

“We will be diversifying our products: If you look across our fund range we have a bias to UK equities and we have recently built out our global range and added an emphasis to income.

“If we were to bring out new products I expect that we would look externally to bring in expertise.”

Mr Pursglove said a major part of his role would also be to expand Artemis’s distribution to a more global audience, because currently its retail business is very much UK-centric.

He said: “From a distribution perspective we are looking to take the brand into other markets. It will not be a carpet bombing approach, more of a broadening out to some selected European distributors and then out to other parts of the world that offer good opportunities.”