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Artemis branches out

Artemis Investment Management is adding the European growth fund to its range of unit trusts.

Artemis has, until now, focused on the UK market. But its appointment of Philip Wolstencroft – formerly of Merrill Lynch – as head of European equity has been the catalyst for a new direction.

The fund will invest in Europe excluding the UK. Most of the selected stocks will be large caps, although 20 per cent will be mid-cap and 10 per cent will consist of small caps.

Europe is currently viewed as a good growth prospect because the stockmarkets have fallen. This means that stocks can be picked up cheaply, with the possibility that they will increase in value as the market picks up again.

The fund is likely to appeal to experienced stockmarket investors with a broad portfolio who want to add a European flavour to their portfolio.

According to Standard & Poor&#39s, the Artemis UK growth fund is raked 67 out of 291 funds based on £1,000 invested on a bid to bid basis with net income reinvested over one year to February 12, 2001.

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