Artemis UK Select R

UK equity fund run by ex Standard Life man Ed Legget from January 2016.

  • 599.96p
    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?

  • 5.00% 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!

  • 1.50%
    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).

  • 1.57%
    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.

  • 2.10%
    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 24 November 2020, fund data last updated 22 April 2014

The Fund targets long term capital growth from a portfolio of UK equities. In December 2015 the fund's manager Tim Steer retired after a long (six year) and generally successful stint. His replacement is Edward Legget, formerly of Standard Life where he ran the UK Equity Unconstrained fund. Legget invests in a fairly concentrated multi-cap portfolio, including a small number of "short" positions.

Fund summary

Sector UK All Companies
Structure UNIT TRUST
Launched April, 1998
Size £708m
Yield 2.10%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.57%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 1.00%
  • 17/18 -0.60%
  • 18/19 0.22%
  • 19/20 0.82%

Bestinvest MRI

  • 3 years 0.14%
  • 5 years 0.00%
  • Career 0.45%
  • 3 years 66.30%
  • 5 years 0.00%
  • Career 96.50%

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

Edward Legget

Legget joined Artemis in December 2015, succeeding Tim Steer on the UK Growth fund. He had previously worked at Standard Life from 2002, ultimately becoming an Investment Analyst and Manager on the UK Desk and running the Standard Life UK Equity Unconstrained fund. He graduated from the University of Cambridge in 2002 with an MEng Honours in Manufacturing Engineering. He obtained the CFA charter in 2005. Legget was born in 1978.

Track record

Edward Legget has 13.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.45%. During the worst period of relative performance (from May 2007 - October 2008) there was a decline of 28% 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 97%.

Periods of worst performance

Absolute -53.00% (May 2007 - February 2009)
Relative -28.00% (May 2007 - October 2008)

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

6.2054%3 i Group Plc Ord
5.4092% Astrazeneca Plc
5.3029% British American Tobacco
5.2487% Tesco
4.8624% Barclays
4.4278% Prudential Plc
4.1895% Oxford Instruments
3.8984% Gvc Hldgs Plc
3.2487% Countryside Properties Plc
3.2032% Intermediate Capital Group
Source: Trustnet

Sector breakdown

Financials 17.00%
Travel 13.00%
Life Insurance 10.00%
Household Goods 9.00%
General Industrials 6.00%
Pharmaceuticals 5.00%
Tobacco 5.00%
Food & Drug Retailers 5.00%
Retailers - General 5.00%
Banks 5.00%

Portfolio

40-50 long positions, 3-10 short positions.

Constraints

Max 10% of portfolio in short positions.

Key Investor Information

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