View more on these topics

Bestinvest downrates Artemis fund

Bestinvest has downgraded its rating of the Artemis global growth fund after severe underperformance in 2008 and 2009.

The £200m fund has been managed by Peter Saacke since 2004 and is bottom of the IMA global growth sector over 12 months, having lost 19.5 per cent compared with an average return of 4.4 per cent.

Global growth uses SmartGARP which processes information from 2,000 analysts globally on a daily basis. Each stock is scored and ranked to give a snapshot of a firm’s financial outlook.

Bestinvest analyst Tom White says: “The recent underperformance has been exacerbated by some poor decisions by the manager. Although the process is primarily quantitative, it does include room for discretion. Smart GARP dates back to the 1990s and has had periods of underperformance before bouncing back and with the talented managers continuing to refine the process, it may well do the same, particularly if markets stabilise. However, in view of the continued uncertainty, there remains the possibility of market turning points again hitting performance.”

Artemis product and communications director Nick Wells says: “The fund has been defensive and we remain well positioned for the future.”


Hodges to lead Aviva shake-up in UK

Aviva is to bring its UK life and general insurance businesses together under the leadership of current UK life chief executive Mark Hodges who takes on the new role of UK chief executive.

Tax avoidance (the fight goes on)

In recent times, we have witnessed high-profile celebrities and sports stars make the headlines for potential tax liabilities on ‘failed’ tax avoidance schemes. We are now used to reading about these individuals, but what about those who advise on such schemes? Read more


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm