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FairHorizon Red
R80-A

Artemis Funds (Lux) - SmartGARP Pan-European Equity Fund

Europe large/mid cap-biased equities. Active systematic strategy.

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About the Fund

Data as of

Artemis Investment Management is an independent UK-based fund provider founded in 1997. It is 60% owned by Affiliated Managers Group Inc (AMG) as a silent stakeholder and 40% owned by current and former staff of Artemis. The firm offers 24 investment strategies of mainly equities and to a lesser extent fixed income and multi-asset solutions, totalling about £44bn of AUM.

The Artemis SmartGARP Pan-European Equity Fund is an actively managed fund that aims to increase the value of investments primarily through capital growth over a 5-year period, by investing in Europe including UK companies with large/mid cap bias. The fund adopts a proprietary systematic screening and monitoring model (SmartGARP) that filters and scores stocks with both top-down (macro, investment sentiment) and bottom-up (growth, valuation, estimate revisions, momentum, ESG, accruals) factors, with the resulting list undergoing further due diligence by the fund managers to derive an eventual portfolio of 80-120 holdings. The SmartGARP scores also determine holdings weight adjustments and sell decisions. The fund is expected to have >50% large cap and <10% small cap exposures, with typical sector positions within +/-10% vs the benchmark (MSCI Europe Index).

Performance

Price Performance – Maximum Period

The FairHorizon Context

Investment-Time-Horizon in years

0 - 22 - 44 - 7 7 - 1010 - 1515+
Expected long-term return
8 – 10% p.a.
Expected volatility
15 – 20% p.a.

Building Block Returns

Artemis Funds (Lux) - SmartGARP Pan-European Equity Fund

Ann. return (3-year):
—
Ann. return (5-year):
—
Ann. return (10-year):
—
Ann. Standard Deviation (5-year):
—

This fund represents active exposure to Europe large/mid cap-biased equities.

Benchmark Returns

Vanguard Investment Series PLC - European Stock Index Fund

Ann. return (3-year):
17.89%
Ann. return (5-year):
9.81%
Ann. return (10-year):
9.42%
Ann. Standard Deviation (5-year):
16.46%
Link to the Funds FairSheet

FairHorizon Benchmark Returns

Dimensional Funds PLC - World Equity Fund

Ann. return (3-year):
19.25%
Ann. return (5-year):
10.27%
Ann. return (10-year):
—
Ann. Standard Deviation (5-year):
14.98%
Link to the Funds FairSheet

The Dimensional World Equity Fund is our FAIRHORIZON Red reference benchmark solution that has primarily global developed equities for long-term global equity-like returns and volatility.

SHARING OUR PASSION FOR INVESTMENTS FAIRSHEET™  Artemis Funds (Lux) - SmartGARP Pan-European Equity Fund  Page 1/2

Why we prefer this fund

Relevance of strategy

This fund represents active exposure to Europe large/mid cap-biased equities.

Manager expertise

The SmartGARP systematic model was created in early 1990s by Philip Wolstencroft, who joined Artemis in 2001 to form his dedicated team that runs various SmartGARP equity funds since then and have won multiple fund and manager awards.

Differentiated portfolio

The fund adopts an enhanced systematic version of GARP (growth at reasonable price) concept that has produced a portfolio differentiated vs the benchmark.

Performance

While the fund is launched only in late 2025, the team has been managing UK unit trust versions of Europe ex UK equity strategy since 2001 and UK equity strategy since 2002, with both delivering strong outperformance vs their benchmarks over time.

Historical maximum drawdown & recovery time

Max drawdown (since inception)
-11.44%
Recovery Period
18 Days

Diversification

Top 10 Holdings

  • BNP Paribas SA4.12%
  • Repsol SA Ordinary Shares3.88%
  • HSBC Holdings PLC3.29%
  • Societe Generale SA3.10%
  • GSK PLC3.10%
  • Banco Santander SA3.08%
  • NN Group NV3.04%
  • Unipol Assicurazioni SpA2.66%
  • Yara International ASA2.47%
  • Ipsen SA2.41%

Sectors

  • Financials41.68%
  • Materials9.91%
  • Energy9.84%
  • Health Care7.11%
  • Industrials6.93%
  • Cash5.79%
  • Technology5.47%
  • Consumer Discretionary4.19%
  • Utilities3.21%
  • Communications2.48%
  • Consumer Staples2.12%
  • Others1.26%

Geography

  • United Kingdom22.60%
  • France13.65%
  • Spain13.23%
  • Italy10.57%
  • Germany6.67%
  • Cash5.79%
  • Netherlands4.55%
  • Norway3.25%
  • Poland2.28%
  • Switzerland2.17%
  • Belgium1.94%
  • Others13.30%