Artemis UK Future Leaders (AFL) is the new name for Invesco Perpetual UK Smaller Companies, after Mark Niznik and William Tamworth of Artemis took over running its portfolio in March 2025, ending Invesco's three decades in charge. The trust had a decent long-term record under Invesco (Niznik was also its manager from 1994 to 2002), but its performance tailed off in the last few years. Although it is still early days for Artemis, the trust's struggles have continued, with a 0% return over the year to April 2026 versus +16% for its benchmark, with performance hit by losses in consumer discretion...
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Artemis Alpha (ATS) was launched in 1998 when it was known as Piccadilly Growth Trust. It was initially focused on European equities and managed by JO Hambro's Max King. After a difficult few years following the dot com bubble, Artemis was appointed to run the trust in June 2003 with John Dodd becoming lead manager and its mandate was switched to UK equities. ATS did very well in 2004 and 2005 but its performance over the next dozen years or so matched the FTSE All-Share with its allocation to unquoted companies being a drag on returns. A strategic review in 2018 led to unquoted and smaller co...
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Mid Wynd International is one of a select group of global trusts that has established a decent track record of beating world markets. While it was listed in 1981, it can trace its roots back to the late 1700s and a textile business set up by the Scott family who still own shares in the trust today. It has been managed by the Global Select team at Artemis, comprising of Simon Edelsten and Alex Illingworth, since 2014 and it runs a fairly diverse portfolio of 55-75 stocks, usually split over eight to ten different themes. Portfolio turnover is quite high, typically over 100%, but the trust's inc...
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For premium subscribers we do regular interviews with fund managers and analysts about current market conditions and funds and markets (occasionally shares) that we invest in. The latest one is with Kartik Kumar, the manager of the Artemis Alpha investment trust since 2018, a £168m UK equity fund which sits in the UK All Companies sector and has a FTSE All-Share index benchmark. After a period of poor performance, the board approved a new strategy in April 2018 to create a more concentrated portfolio and reduce the number of private company holdings. Shareholders will be offered the chance to...
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Simon Edelsten is a fund manager at Artemis and has been managing the Mid Wynd investment trust since 2014 with two colleagues, Alex Illingworth and Rosanna Burcheri. After graduating from Trinity College, Oxford, he joined Phillips & Drew in 1985 and moved to Dresdner Kleinwort Benson in 1997 as head of European equity sales. From there he went to the boutique investment firm Taube Hodson Stonex (THS) in 2001 with joint responsibility for global equities in a five-man team. He joined Artemis in 2011. The firm won the mandate to manage Mid Wynd, whose origins date back to the nineteenth ce...
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