This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+201114+Cover+Small
Categories:Investments

Artemis fund raises US exposure

  • Print
  • Comment

Artemis Investment Management fund manager Simon Edelsten has raised his US equity exposure in the £15m global select fund in a bid to tap into the US economic recovery.

Edelsten has increased US exposure from 30 per cent to 50 per cent since October. He has added a number of new financials positions, including 2 per cent in American Express, 2 per cent in JP Morgan and 1.5 per cent in wealth manager Northern Trust. He has also added a 1.5 per cent position in retailer Coach Handbags and 2 per cent in railroad company Union Pacific.

Edelsten says: “We started adding into stocks that are a bit riskier and cyclical, such as Northern Trust, which is geared into economic recovery and the recovery of financials.”

Investment Quorum chief investment officer Peter Lowman says: “We as a wealth manager have also been increasing our allocation to the US stock- market on the back of positive data coming out of the US.”

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Have your sayEdit my profile/screen name

You must sign in to make a comment

AXA Wealth

The Budget: What do people really know?


Fund Data

Editor's Pick



Poll

Do you think the idea of a single investment management charge could work in practice?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments