Artemis SmartGARP UK Equity I

A UK equity fund with a large cap bias run using a quant based screening system.

  • 2050.62p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 1.00% 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.75%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 0.90%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 2.90%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 18 June 2021, fund data last updated 23 December 2015

The Fund aims to achieve long term capital growth mainly by investing in large cap UK stocks, though the portfolio also includes mid cap and overseas companies. The process is primarily based on a quantitative stock ranking system (SmartGARP) developed by named manager Philip Wolstencroft. SmartGARP seeks to exploit the behavioural biases of investors by acting more objectively and systematically.

Fund summary

Sector UK All Companies
Structure UNIT TRUST
Launched September, 2010
Size £288m
Yield 2.90%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 1.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.90%

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Investment process

Manager research

Average monthly relative returns

  • 16/17 0.06%
  • 17/18 0.48%
  • 18/19 -1.17%
  • 19/20 -1.00%
  • 20/21 0.45%

Bestinvest MRI

  • 3 years -0.58%
  • 5 years -0.24%
  • Career 0.08%
  • 3 years 13.60%
  • 5 years 28.80%
  • Career 92.40%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Philip Wolstencroft

A 1985 Economics graduate, Wolstencroft's career began as an analyst with the British Rail Pension Fund. He moved to WorldInvest in 1986 where his fund manager career started. From 1989-91, he was Global Strategist for County NatWest and in 1991 he moved to Smith NewCourt (Merrill Lynch from 1995), initially as Head of UK Equity Strategy, and later he became head of Pan European Equity Strategy, where he was rated as one of the top analysts in his field. He joined Artemis in early 2001 and created SmartGARP, the Artemis quantitative investment process. He was later joined by Peter Saacke, who he worked with for some of his time at Merrill Lynch.

Track record

Philip Wolstencroft has 20.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.08%. During the worst period of relative performance (from April 2006 - September 2020) there was a decline of 42% relative to the index. The worst absolute loss has been 53%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 92%.

Periods of worst performance

Absolute -53.00% (October 2007 - February 2009)
Relative -42.00% (April 2006 - September 2020)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Top 10 holdings

Data accurate as at 31 July 2020

5.5425% Rio Tinto
5.493% Legal & General Group
4.5181% British American Tobacco
4.4977% Phoenix Group Hldgs Plc
4.3821% Gvc Hldgs Plc
4.3541% Vodafone Group Plc
4.3286% Polymetal Intl Plc
4.1363% Drax Group Plc
3.9664% Imperial Brands Plc
3.7421% Lukoil Pjsc
Source: Trustnet

Sector breakdown

Mineral Extraction 17.00%
Life Insurance 14.00%
Oil & Gas Exploration & Production 10.00%
Tobacco 8.00%
Financials 8.00%
Banks 6.00%
Electricity Supply 6.00%
Wireless & Mobile Communications 5.00%
Travel 5.00%
Building & Construction 3.00%

Portfolio

70-100 stocks, weighted according to their SmartGARP score

Constraints

Minimum 60% in FTSE 100 companies, maximum 10% in smaller companies. Sector exposures within +/- 10% of benchmark. Style tilts (e.g. towards Growth, Value, Revisions, Top down etc.) should not be negative for any significant length of time. Max 5% in one stock.

Key Investor Information

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