Changes to dealing days

Artemis is making changes to the prospectuses of its range of funds to take account of days when markets are closed for business.

Last updated 22 September 2021

There are a number of dates throughout the year on which funds are unable to make investments. These are principally bank and local holidays in the countries and markets where funds invest. On ‘non-dealing’ days, stockmarkets are closed, so funds are unable to make investment transactions in those markets.

When the principal market/s in which a relevant fund primarily invests is/are closed for dealings, meeting redemption requests can be difficult and calculating the net asset value of a fund may not be accurate and reflective of the value of a fund’s underlying assets.

Therefore, we consider it is in the best interests of investors to allow dealings in the relevant funds only when the relevant principal market/s is/are open for the business in dealing in securities. This will provide greater certainty and allow better alignment of the dealing in a fund with the calculation of the fund’s net asset value on the same day, thereby allowing subscriptions, conversions, switching or redemptions (as the case may be) at a price reflective of the value of the relevant fund’s underlying assets.

The notices to you detailing this change can be found in the related documents section at the bottom of this page.

What has changed?

For certain funds, we may exercise discretion, in order to protect investors’ interests in respect of markets being closed, for example for public holidays in certain jurisdictions.

The specific funds that are impacted by the declaration of non-dealing days are subject to change and investor notification. The current list of funds and the days when we will not process deals in units or shares are published on our website at www.artemisfunds.com/non-dealing-days. The list of non-dealing days which apply to these funds will be published annually in advance and updated to reflect any changes.

Any dealing requests received on a non-dealing day will be processed on the next dealing day. Please note that the settlement period of subscriptions, redemptions and switches may be extended when a non-dealing day falls between the trade date and the settlement date.

We have therefore updated the prospectuses of: (i) Artemis Funds (Lux); (ii) Artemis Investment Funds ICVC; (iii) Artemis Retail Funds; (iv) Artemis Strategic Assets Fund; and (v) Artemis Institutional Funds to include further detail on non-dealing days.

The terms and conditions applicable to Artemis Investment Funds ICVC, Artemis Retail Funds and Artemis Strategic Assets Fund have also been updated to reflect this change.

Where can I find out about upcoming non-dealing days?

The current list of funds and the days when we will not process deals in units or shares are published on our website at www.artemisfunds.com/non-dealing-days. The list of non-dealing days which apply to these funds will be published annually in advance and updated to reflect any changes.

Further information

For further information, please contact our Client Services team:

Related documents