Artemis expands fixed income range

Artemis expands fixed income range
Stephen Snowden

Artemis is to launch two more bond funds, set to be managed by the company's recent recruits from rival Kames Capital.

Stephen Snowden, who resigned as Kames' co-head of fixed income late last year, will manage the new Artemis Corporate Bond fund which is available as a quarterly income or accumulation shares with on-going charges of 0.40 per cent from later this quarter.

He will be supported by his team of Juan Valenzuela, David Ennett and Stephen Baines — all ex-Kames employees who moved with Mr Snowden to Artemis in December 2018.

Mr Ennett and Mr Baines will take the reins on the new Global High Yield Bond fund, set to launch next month, aiming to increase the value of shareholders’ investments through a combination of income and capital growth.

Global high yield bonds have a credit rating of below BBB+ and therefore offer much higher returns through higher interest rates.

This bond will also be available as accumulation and income, the management fee will be 0.50 per cent and ongoing charges will be 0.51 per cent and 0.55 per cent. Mr Snowden and Mr Valenzuela will support the fund.

Artemis’ head of distribution, Jasper Berens, said: "These two new funds will continue to enhance our capability in fixed income. 

"Stephen, David and Stephen are experienced and respected managers with a great team behind them. By broadening what we offer, we are confident that these new funds will help us to go on meeting investors’ needs."

Darius McDermott, managing director at Chelsea Financial Services, said he had known Mr Snowden for 20 years and had invested in his funds for a lot of that time, noting the performance had been very consistent.

Ben Willis, head of portfolio management at Chase de Vere, said: “Artemis has recruited what looks, on paper, like a strong investment team to manage these two funds. In particular, Stephen Snowden is a manager who has great belief in his own abilities.

“However, we will need to see how they settle in at Artemis before we would consider investing, especially as there are a number of strong fixed income teams who are already established at other investment companies.”

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