Analysts Downgrade Artemis UK Smaller Companies

FUND RESEARCH UPDATE: This fund has lost its Gold crown as our analysts' conviction has been dented by a failure to protect shareholders' capital last year

Jeremy Beckwith 31 March, 2015 | 6:00AM
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Morningstar analysts have downgraded their rating on the Artemis UK Smaller Companies fund to Silver from Gold. We continue to believe the experienced manager and robust process make this a strong choice for UK small-cap exposure, but we feel a Silver rating provides a better reflection of the fund's relative merits within the sector. Indeed, given the manager's focus on high-quality companies with resilient business models, we would have expected the fund to protect investors' capital in 2014 to a greater extent than it did; an outcome which has slightly dented our conviction in the manager's application of his process.

See the latest Morningstar OBSR fund rating news here.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Artemis UK Smaller Companies R Acc20.87 GBP-1.10Rating

About Author

Jeremy Beckwith  is Director of Manager Research for Morningstar UK

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