Simon Edelsten, Rosanna Burcheri and Alexander Illingworth
Artemis fund manager trio Simon Edelsten, Rosanna Burcheri and Alexander Illingworth have scooped A ratings, after a solid three years for their £74.5 million Artemis Global Select fund.
The three have delivered 60.2% over that period, placing their fund just outside the top 10% in Citywire’s 502-strong Global sector.
They have profited from soaring share prices of internet stocks, but have recently turned more cautious on the sector.
Edelsten announced in the fund’s latest yearly review that they had taken profits on their holding in Facebook (FB.O), arguing its valuation had run ahead of their forecasts, and against the backdrop of its online advertising being called into question.
Earlier this year the managers sold their holding in Amazon (AMZN.O), believing its share price had reach levels that were hard to justify.
Edelsten’s latest commentary returned to that decision, as he highlighted the fund’s focus on capital protection.
‘Our approach to active management is that holding good quality shares on high valuations may put capital at risk,’ he said.