Adrian Gosden, co-manager of the £6.1bn Artemis Income fund, is set to step down at the end of the month after 13 years of working at Artemis Fund Managers.
Gosden has worked on the fund – which is one of the largest in the IA UK Equity Income sector – after joining the company in October 2003. Adrian Frost has worked on the four FE Crown-rated portfolio since January 2002, while Nick Shenton joined in September 2014.
Performance of fund vs sector and index over 10yrs
Source: FE Analytics
Frost and Shenton will continue to manage Artemis Income and a number of institutional income mandates after Gosden’s departure. A statement by the company did not elaborate on the reason for the manager’s exit.
Artemis’ senior partner Mark Murray said: “In his time with us, Adrian has made a considerable contribution to Artemis. He will leave with our thanks and very best wishes.”
As the graph below shows, Gosden has strongly outperformed his peer group composite since June 2001 (which is as far back as out data on the manager goes) with a 136.33 per cent return.
Gosden’s approach on the fund was to seek out cash-generative companies through the use of cash flow and dividend screens as well as Artemis' proprietary stock-screening model SmartGARP. Particularly attention is paid to companies’ price/free cash flow.
Performance of manager vs peer group since June 2001
Source: FE Analytics
FE Trustnet will follow up on what this means for investors in the fund in a story later this afternoon.
