- Charges and costs explained – introducing the types of charges involved in investing in funds
- Types of unit and share classes – explaining the different unit and share classes available to investors
- Charges and costs for individual funds – where to find charges and costs for each Artemis fund
Charges and costs explained
These are the charges and costs you may pay when investing in an Artemis fund.
One-off charges before you invest
| Charges | Description | Artemis charges |
|---|---|---|
| Initial charge | Sometimes called the ‘entry charge’, this is an upfront charge paid when you invest money in a fund and is deducted from your investment before you invest. This covers the costs of setting up your investment, such as administration and marketing costs. | Artemis does not apply an initial charge on any of its funds. |
Charges and costs taken from a fund over a year
| Charges | Description | Artemis charges |
|---|---|---|
| Ongoing charge | These are the annual operating expenses of running the fund and are deducted from the net assets of the fund. Different charging bases apply to different types of funds; these are explained in the ‘Fund charges and costs’ document. | Ongoing charges for Artemis’ funds are set out in the table headed ‘Charges and costs for individual funds’ below. For further details of how ongoing charges are calculated, read the ‘Fund charges and costs’ document. |
| Performance fee | A performance fee is a payment made to Artemis when a fund beats its stated performance target. | Artemis charges a performance fee on two funds: the Artemis US Extended Alpha Fund and Artemis Funds (Lux) – US Extended Alpha. The actual performance fees charged in the fund's last financial year are set out in the table headed ‘Charges and costs for individual funds’ below, and further information is containedin the ‘Fund charges and costs’ document. |
| Transaction costs | These costs are incurred when buying and selling the fund’s underlying investments, such as broker commissions and taxes. In addition, there is a dealing spread between the prices at which the fund buys or sells the underlying investments. Some investments (such as bonds, money market instruments, derivatives etc) have no separately identifiable transaction costs; these costs form part of the dealing spread. Dealing spreads vary considerably depending on the investment being bought or sold, the transaction value and market sentiment. | Transaction costs for Artemis’ funds are set out in the ‘Fund charges and costs’ document, along with further explanation about them. |
| Transfer taxes | Transfer taxes are taxes levied by governments on the sale of stocks and shares. | Transfer taxes incurred by Artemis’ funds are set out in the ‘Fund charges and costs’ document. |
Costs when you buy or sell
| Charges | Description | Artemis charges |
|---|---|---|
| Dilution adjustment | Artemis operates a single pricing methodology for its funds and reserves the right to adjust the price to protect investors’ investments from the cost of buying or selling investments that result from other investors joining or leaving the fund. The amount of any such adjustment, known as a dilution adjustment, is calculated by reference to the estimated costs of dealing in the underlying investments, including any dealing spreads, broker commissions and taxes. Artemis usually adjusts the price whenever significant net contributions (adjustment to offer price) or withdrawals (adjustment to bid price) take place, which helps protect investors’ investments from the costs of the resultant transactions. | Please refer to a fund’s prospectus for the typical range of dilution adjustments for each fund and class. |
| UK stamp duty reserve tax (SDRT) | SDRT is a tax that was previously chargeable in the UK on the value of surrenders and issues of fund units/shares in the UK. Although the UK government abolished this tax with effect from 30 March 2014, there are some instances in which SDRT continues to be levied. If an investor redeems fund units or shares in specie* and receives a non-pro rata share of the fund’s underlying assets, SDRT will arise to the extent that those underlying assets include chargeable securities. SDRT might also continue to arise on sales of units or shares by one investor to another, where the holding remains registered in the same name. * In specie describes the transfer of an asset (in this case, fund units or shares) in its current form (ie a fund unit or share) rather than in the equivalent amount of cash. | Stamp duty reserve tax incurred is 0% for all funds and classes. |
| Exit charge | This fee may be charged before the proceeds of your investment are paid out. | Artemis does not charge an exit charge on any of its funds. |
Further information can also be found in the relevant prospectus, Key Investor Information Document (KIID), Key Information Document (KID) or fund factsheet..
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Types of unit and share classes
As with most fund managers, Artemis offers different ‘classes’ of units or shares. Each has different investment minimums and charges.
In effect, larger investments can benefit from lower charges. Only the ongoing charge varies by class; the other charges and costs are the same for each class.
Minimum investments apply to investors investing directly with Artemis; if you are investing via an investment platform or a financial adviser, you may be able to invest in the classes with the lowest ongoing charges.
The classes available to investors in Artemis’ unit trust and OEIC ranges of funds vary by fund but primarily encompass:
- Class C: these have a low minimum investment (typically £1,000 if investing direct with Artemis) but a higher ongoing charge.
- Class I: these have a higher minimum investment (typically £250,000 if investing direct with Artemis) but a lower ongoing charge.
As noted above, you may be able to invest smaller amounts in class I units/shares by using the services of an investment platform or financial adviser. - Class R: these have the highest ongoing charge. These have been largely superseded by class C units/shares and are not open to new investors.
Existing investors who are currently invested in class R units or shares should contact Artemis’ Client Services team on 0800 092 2051 to explore if you may be able to switch your investments to a lower-charging class.
For investors in the Artemis Funds (Lux) range of funds, these further share classes are also available:
- Class A: these have a high minimum investment (typically 25,000 in the unit/share class currency if investing direct with Artemis) but a lower ongoing charge.
- Class B: these have a high minimum investment (typically 250,000 in the unit/share class currency if investing direct with Artemis) but a lower ongoing charge.
These classes are available for subscription only via certain distributors, intermediaries and/or other professional investors who have separate fee arrangements with their clients.
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Charges and costs for individual funds
As at April 2024
This table sets out the charges and costs for each fund and unit or share class.
| Fund | Class | Ongoing charge 1 | Performance fee 2 | Transaction costs and transfer taxes 3 |
|---|---|---|---|---|
Unit trust funds | ||||
| Artemis European Select Fund | Class I | 0.870% | - | 0.190% |
| Artemis Global Income Fund | Class C | 1.320% | - | 0.770% |
| Class I | 0.870% | - | 0.770% | |
| Class R | 1.620% | - | 0.770% | |
| Artemis Global Select Fund | Class C | 1.340% | - | 0.580% |
| Class I | 0.890% | - | 0.580% | |
| Class R | 1.640% | - | 0.580% | |
| Artemis High Income Fund | Class C | 1.165% | - | 0.150% |
| Class I | 0.715% | - | 0.150% | |
| Class R | 1.340% | - | 0.150% | |
| Artemis Income Fund | Class C | 1.250% | - | 0.120% |
| Class I | 0.800% | - | 0.120% | |
| Class R | 1.550% | - | 0.120% | |
| Artemis Monthly Distribution Fund | Class C | 1.310% | - | 0.540% |
| Class I | 0.860% | - | 0.540% | |
| Class R | 1.610% | - | 0.540% | |
| Artemis SmartGARP European Equity Fund | Class C | 1.320% | - | 0.380% |
| Class I | 0.870% | - | 0.380% | |
| Class R | 1.620% | - | 0.380% | |
| Artemis SmartGARP Global Equity Fund | Class C | 1.340% | - | 0.770% |
| Class I | 0.890% | - | 0.770% | |
| Class R | 1.640% | - | 0.770% | |
| Artemis SmartGARP UK Equity Fund | Class C | 1.310% | - | 0.480% |
| Class I | 0.860% | - | 0.480% | |
| Class R | 1.610% | - | 0.480% | |
| Artemis Strategic Assets Fund | Class C | 1.175% | - | 0.190% |
| Class I | 0.725% | - | 0.190% | |
| Class R | 1.475% | - | 0.190% | |
| Artemis Strategic Bond Fund | Class C | 1.040% | - | 0.280% |
| Class I | 0.590% | - | 0.280% | |
| Class R | 1.090% | - | 0.280% | |
| Artemis UK Select Fund | Class C | 1.270% | - | 0.090% |
| Class I | 0.820% | - | 0.090% | |
| Class R | 1.570% | - | 0.090% | |
| Artemis UK Smaller Companies Fund | Class C | 1.310% | - | 0.100% |
| Class I | 0.860% | - | 0.100% | |
| Class R | 1.610% | - | 0.100% | |
| Artemis UK Special Situations Fund | Class C | 1.310% | - | 0.260% |
| Class I | 0.860% | - | 0.260% | |
| Class R | 1.610% | - | 0.260% | |
OEIC funds | ||||
| Artemis Corporate Bond Fund | Class I | 0.370% | - | 0.400% |
| Artemis Positive Future Fund | Class I | 0.900% | - | 0.180% |
| Artemis SmartGARP Global Emerging Markets Equity Fund | Class I | 0.920% | - | 0.240% |
| Artemis Short-Duration Strategic Bond Fund | Class I | 0.390% | - | 0.030% |
| Artemis US Extended Alpha Fund | Class I | 0.900% | 0.000% | 1.580% |
| Artemis US Select Fund | Class I | 0.850% | - | 0.680% |
| Artemis US Smaller Companies Fund | Class I | 0.870% | - | 0.060% |
Investment trusts | ||||
| Artemis Alpha Trust plc | Ordinary | 1.090% | - | 0.090% |
NURS funds | ||||
| Artemis Income (Exclusions) Fund | Accumulation | 0.780% | - | 0.180% |
| Artemis SmartGARP Paris-Aligned Global Equity Fund | Accumulation | 0.800% | - | 0.880% |
SICAV funds | ||||
| Artemis Funds (Lux) – Global High Yield | Class B | 0.550% | - | 0.036% |
| Class I | 0.510% | - | 0.034% | |
| Artemis Funds (Lux) – Global Select | Class I | 0.910% | - | 0.600% |
| Artemis Funds (Lux) – Short-Dated Global High Yield Bond | Class B | 0.450% | - | 0.080% |
| Class I | 0.410% | - | 0.060% | |
| Artemis Funds (Lux) – SmartGARP Global Emerging Markets Equity | Class B | 1.000% | - | 0.140% |
| Class I | 0.960% | - | 0.140% | |
| Artemis Funds (Lux) – UK Select | Class I | 0.910% | - | Not available |
| Artemis Funds (Lux) – US Extended Alpha | Class A | 1.700% | 0.000% | 1.610% |
| Class B | 0.950% | 0.000% | 1.610% | |
| Class I | 0.910% | 0.000% | 1.610% | |
| Artemis Funds (Lux) – US Select | Class A | 1.700% | - | 0.660% |
| Class B | 0.950% | - | 0.660% | |
| Class I | 0.910% | - | 0.660% | |
| Artemis Funds (Lux) – US Smaller Companies | Class A | 1.700% | - | 0.000% |
| Class B | 0.950% | - | 0.000% | |
| Class I | 0.910% | - | 0.000% |
1 Ongoing charges are for the 12 months to the date shown in the latest KIID
2 Performance fees: Artemis charges a performance fee on two funds; these are payable when a fund beats its stated performance target. The figures shown above are the actual performance fees charged in the fund's last financial year; the calculation basis for each fund is:
- Artemis US Extended Alpha Fund: 20% of the share class outperformance against the S&P 500 TR (Hedged to GBP) benchmark
- Artemis Funds (Lux) – US Extended Alpha: 20% of the share class outperformance against the S&P 500 TR benchmark in the currency of the share class
3 Figures shown are based on data for the last three years of transaction history. Note that funds’ costs may be paid in a different currency to the currency where investors are resident. Changes in currency exchange rates can therefore cause costs to increase or decrease.
Other sources of information about charges and costs
You can also find information about fund charges and costs:
- ‘Fund charges and costs’ document (PDF, opens in a new window), which contains further explanations about each type of charge and cost and the specific performance fees, portfolio transaction costs, transfer taxes and dilution adjustments for each fund
- on the individual fund pages in the ‘fund data’ sections; visit the prices and performance pagethen choose the fund you’re interested in
- on the individual Key Investor Information Documents (KIIDs)and/or Key Information Documents (KIDs)for each fund’s unit/share classes; visit the prices and performance pagethen choose the fund you’re interested in, or visit the literature library
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This is intended to provide you with information about the costs and charges of Artemis funds and products. It is not a marketing communication and should not be used to make investment decisions. You should always refer to the relevant fund prospectus and KIID/KID before making any final investment decisions.
Artemis does not provide investment advice on the advantages or suitability of its products and no information provided should be viewed in this way. Should you be unsure about the suitability of an investment, you should consult a suitably qualified professional adviser.
Issued by: Artemis Fund Managers Limited and Artemis Investment Management LLP which are authorised and regulated by the UK Financial Conduct Authority; in Germany, AI Management (Europe) GmbH; in Switzerland, Artemis Investment Services (Switzerland) GmbH.
