The former Jupiter income star is believed to be looking to run a macro-based hedge vehicle with Ucits III powers.
Artemis announced in November 2008 the closure of Littlewood’s Dublin-domiciled absolute return hedge fund despite good performance. The £13m fund was only run for a hand- ful of private investors.
Littlewood ran the Jupiter income fund for 10 years. He took a sabbatical in 2000 due to ill health, having built the fund up to £1.5bn. He then passed the management to Tony Nutt.
The firm is believed to be planning an April launch.
Artemis product and communications director Nick Wells says the firm has no product plans at this stage.
He says: “We do not comment on market rumour but if we do have something planned for later this year we will discuss it then.”