Artemis Leading Consumer Brands
Artemis Leading Consumer Brands is a flexible global thematic fund that seeks to capture the emerging middle class’s consumption of luxury brands. It is a bottom-up, high-conviction fund that leverages the team’s experience and deep knowledge of the consumer sectors.
Our Opinion
Fund Managers
Fund Managers
Swetha manages Artemis’ Leading Consumer Brands strategy and co-manages the Global Select and Global Focus strategies. She joined Artemis from GAM in September 2023, where she managed the GAM Luxury Brands Fund from 2019 to August 2023. Before GAM, she worked at Alliance Bernstein as a consumer analyst, and previously held roles at Credit Suisse and ESG ratings agency Vigeo in Paris. She began her career as an Asian equity analyst at Goldman Sachs in Singapore. Swetha holds a bachelor’s degree in Economics from the London School of Economics, a Magistère in French from the Sorbonne, and the CFA Institute Certificate in ESG Investing.
Alex is the Head of Global Equities at Artemis and leads the Global Select and Global Focus strategies, also co-managing the Leading Consumer Brands strategy. He graduated from the University of Edinburgh with an MA in Economics and Social Geography. Alex began his career at Cazenove in 1995, then moved to Newton Investment Management in 1998 to join its global equity team, later becoming the team’s investment leader. He founded and led the global equities division at River & Mercantile Asset Management in 2009, joined JP Morgan Asset Management in 2015 as a managing director, and started at Artemis in March 2023.
Natasha joined Artemis in June 2023 as a fund manager in the Global Select team. She began her investment career at Morgan Stanley in 2006 as an analyst and later joined Columbia Threadneedle Investments in 2008, where she managed portfolios across Asian equities, multi-asset, and global equity mandates, including the Sustainable Outcomes Global Equity fund. Natasha holds a Master's degree in Modern Chinese Studies from Oxford University and a BSc in Economics, Politics, and International Studies from Warwick University. She is also a CFA charterholder, fluent in Cantonese, and conversant in Mandarin and Spanish.
Fund Performance
Risk
Talking Factsheet
Investment process
By investing in leading consumer brands, this strategy endeavours to capitalize on the emerging middle class's spending potential and evolving consumer demand trends. The focus is on identifying companies with robust brand strength which helps create barriers to entry and gives them pricing power. This results in high profit margins, which should enable investors to benefit from long-term compounding earnings growth.
The investment process starts by identifying premium global consumer brands exposed to resilient, mass-affluent consumers in various industries such as fashion, cosmetics, watches, jewellery, leisure, cars, fine wines and spirits and others. They mainly restrict themselves to the consumer staples and consumer discretionary subsectors however they will occasionally find opportunities in the consumer-facing healthcare companies. They will only invest and hold stocks where the intrinsic valuation suggests a minimum 15% share price upside or 50% compounded over 3 years. The final portfolio is high conviction, holding between 25-35 companies.
Risk
Portfolio guidelines and restrictions are embedded into Artemis' in-house order management system: Charles River. In addition to this, the Operations Oversight & Control team at Artemis monitors end-of-day checks to ensure compliance with relevant investment restrictions. The Investment Committee has overall responsibility for oversight of Artemis' investment activities. They review the performance and activity of fund managers; regulatory and/or client-stipulated constraints and guidelines.
The fund is unconstrained in nature and driven by bottom-up stock selection. As a result, the fund will differ from the index and is managed in a benchmark-agnostic manner.
ESG
ESG - Integrated
The fund is an Article 8 fund and emphasizes its commitment to ESG considerations. The team excludes investments in companies generating more than 5-10% of revenues from specific industries such as weapons, gambling, tobacco, thermal coal, and oil & gas. They have a list of 50 ESG data points that they assess for all companies that help feed into their fundamental analysis of the company’s valuation. They also actively engage with companies, supported by their in-house Stewardship team to improve their ESG practices.