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Steer puts first short into Artemis UK growth

Tim Steer has added his first short to his £301m Artemis UK growth fund after its remit changed to allow short positions of up to 10 per cent.

After successfully shorting insolvent stock Connaught in his hedge fund, Steer has shorted Robert Wiseman Dairies in UK growth.

The manager has questioned the firm’s profit margins after some supermarkets cut milk prices, from £1.53 to £1.25 in the case of a four-pint carton.

“The man will be wise indeed to make money at such prices, and that of course is Tim’s bet,” Artemis says in a note.

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