Artemis Global Income

Jacob de Tusch-Lec and James Davidson manage this pragmatic, high-conviction stock-picking fund which looks for companies with sustainable and growing yields. The fund has around 60 to 80 large and mid-cap holdings. It typically has a value bias but it is a balance between stable core stocks and growth companies with greater risk reward potential. The fund is guided by themes, which has helped it to achieve tremendous success in recent years. Gold, defence and AI are all themes which have featured in the portfolio in recent years leading to great performance. Income is paid in April and October.

Jacob de Tusch-Lec, James Davidson

Jacob has managed the fund since July 2010. He also co-manages the equities element of Artemis’ Monthly Distribution fund. Prior to joining Artemis in 2005, he began his career in 1998 at BankInvest, one of Scandinavia’s largest independent fund managers. In 2002 he joined Merrill Lynch as vice-president of its pan-European equity strategy. Jacob holds a Bachelor of Arts and a master’s in economics from the University of Copenhagen, as well as an MBA from the Stern School of Business at New York University (NYU).

James joined Artemis’ Global Income team in 2018 and also co-manages the equities element in Artemis’ Monthly Distribution strategy. After gaining a Bachelor of Arts in economics from the University of Sussex (1992) and a master’s in economic history from the University of Oxford (1993), James joined Baillie Gifford as an analyst in the US equities team. He then moved to Morgan Grenfell as an analyst and, latterly, a manager of US equities before 13 years at Bank of America Merrill Lynch, where he co-founded and later ran its global equity sales team. In 2013, James became a portfolio manager at JP Morgan, where he ran global equity income portfolios. He is a CFA charterholder.

A very high-conviction fund managed by top managers with excellent long-term track records. The fund has a value bias and this, along with the managers’ excellent positioning towards AI, gold and defence, has led to exceptional performance in recent years. This fund is very different to the benchmark and has suffered tricky periods in the past. The fund may not outperform every year, but the cumulative long-term performance has been superb.