Artemis Income Fund

The Artemis Income Fund is a UK equity income unit trust run by Artemis, an active fund manager. Its stated objective is to grow both income and capital over a five year period, and it sits in the IA UK Equity Income Sector¹. The fund holds an actively managed portfolio of 45 to 55 company shares, with 49 holdings at present, and is ISA eligible¹.

It is a long-established fund, launched on 6 June 2000, with a benchmark of the FTSE All-Share Index and a base currency of pounds sterling¹. The managers pick shares by looking at a company's free cashflow yield, which they treat as the most important factor in whether a company can pay a sustainable and growing income².

This page covers what the fund is and who it tends to suit, how it works, how its charges are structured, who can invest and how, what protection applies, and how to complain. It does not give current charges or performance figures: those change, and the provider's own site and fund documents carry today's numbers.

What it is and who it is for

The fund is a unit trust, which means your money is pooled with other investors' money and run by a manager who decides what to buy and sell¹. Artemis offers only active funds, so the manager is trying to beat the market rather than track it². The fund's benchmark is the FTSE All-Share Index, which is the yardstick its performance is measured against rather than a list of shares it must hold¹.

Its mandate is specific. At least 80% of the fund is invested in the United Kingdom, with up to 20% in other countries, and 80% to 100% is in company shares¹. Up to 20% can sit in bonds, cash and near cash, other transferable securities, other funds (up to 10%) managed by Artemis and third party funds, money market instruments and derivatives¹. That mix tells you what kind of investor it is built for: someone who wants UK company exposure with an income tilt, and who can leave the money invested for years rather than months.

The portfolio is concentrated rather than sprawling. It held 49 companies as at 31 August 2026, with the largest holding, NatWest Group, at 4.6% of the fund¹. By company size, 83.1% was in large companies, 13.4% in mid-sized companies and 1.5% in smaller companies¹. By sector, financials made up 33.1%, consumer discretionary 18.5%, consumer staples 13.6%, health care 8.9%, industrials 7.4%, energy 5.7%, technology 2.7%, basic materials 2.2% and utilities 1.3%¹. A portfolio weighted that heavily towards financials behaves differently from a broad UK index tracker, and that concentration is a feature of how the fund is run rather than an accident.

The managers describe themselves as long term holders, with a current average holding period of over six years¹. That matters to a reader because it sets the timescale the fund is built around: it is not designed for money you might need next year.

How it works

The fund is actively managed, and the manager's starting point is a company's free cashflow yield, described as the amount of cash left over after everyone it owes money to has been paid². The managers use that measure because they believe it is the most important factor in determining a company's ability to pay a sustainable and growing income². In practice that means the fund is not simply buying the highest-yielding shares on the market; it is trying to judge which companies can keep paying and increase what they pay.

Income is distributed twice a year. The fund's year end is 30 April, with pay dates of 31 December and 30 June¹. For the 2025/2026 fund financial year the interim distribution was 5.7321p per share and the final distribution was 6.6218p per share, a total of 12.3539p per share¹. Those are the fund's own distribution figures for that year, not a forecast, and the amount paid in future years is not guaranteed.

Two mechanics are worth knowing before you invest. First, funds are valued at a set point each day, and this one is valued at 12:00 UK time¹. Second, funds have non-dealing days when you cannot buy or sell, and Artemis publishes guidance on what those are⁵. If you need money out on a particular date, the dealing and settlement timetable matters as much as the fund's holdings.

How the fees and charges work

Artemis does not apply an initial charge on any of its funds, and it does not apply an exit charge on any of its funds³. That removes two costs that older fund structures often carried, and it means the cost of investing is largely ongoing rather than paid up front or on the way out.

The main ongoing cost is the annual management charge. It is calculated daily, based on the value of the fund's net assets, and is reflected in the daily value of the fund rather than billed to you separately⁷. In other words, it comes out of the fund's value continuously, so the price you see already has it deducted. Different charges are applied for class R and class I units or shares in Artemis funds⁷.

Artemis also charges a performance fee on certain funds³. Whether it applies to the fund you are looking at is set out in the fund's own charges and costs document, which provides explanations about each type of charge and cost and specific information on each of the funds⁸. If a performance fee applies and the fund does not earn enough to cover the charge, Artemis is responsible for any shortfall from its own resources³.

Share classes are the other thing that changes what you pay. The ongoing charge on class C is typically higher than on class I, and the ongoing charge on class R is higher than on classes C and I⁹. Class B (Lux) carries a lower ongoing charge than the A classes⁹. Which class you can hold depends on how you invest, which is covered below.

Who can apply and how to apply

There are three routes into the fund, and the route you take affects both the minimum you need and the class you can hold.

• Directly with Artemis. You invest with the fund manager itself. Minimum investments apply to investors investing directly with Artemis⁹.
• Through an investment platform. If you invest via an investment platform or a financial adviser, you may be able to invest in the classes with the lowest ongoing charges without having to meet the minimum investment amount⁹.
• Through a financial adviser. Advisers can help you plan your investments and can invest in Artemis funds on your behalf⁶.

The class rules follow the same logic. Class C is only available if you invest directly with Artemis⁹. Class I may be available in smaller amounts through a platform or adviser, subject to their terms and conditions⁹. Class A (Lux) is available for all types of investor, while class B (Lux) is only available for subscription via certain distributors, intermediaries or other professional investors who have separate fee arrangements with their clients⁹.

The fund is ISA eligible, so it can be held in a stocks and shares ISA¹. The same is true of the other Artemis funds listed on its site, including the Global Income Fund, the UK Select Fund, the Corporate Bond Fund, the Atlas Fund, the UK Special Situations Fund, the Short-Duration Strategic Bond Fund, the Short-Dated Global High Yield Bond Fund and the SmartGARP Global Smaller Companies Fund¹⁰. Whether an ISA is the right home for it depends on your circumstances; see ISA, pension or general account for how the wrappers differ.

Before investing, Artemis says to refer to the fund's prospectus and KIID or KID, which can be found on its literature page or the relevant fund page⁶. Those documents set out the fund's objective, its risks and its charges. If you are unsure whether the fund suits you, Artemis does not provide investment advice on the advantages or suitability of its products, and no information it provides should be treated as advice¹⁸. An adviser can help, and there is more on how advisers are paid in how much does a financial adviser cost.

How your money is protected

The fund is an authorised unit trust scheme, and Artemis is regulated by the Financial Conduct Authority, with just two active registrations¹. That regulatory status is what makes the fund available to UK retail investors and what gives you access to the complaints system described below.

What protection does not do is cover investment performance. If the fund falls in value, that is a market outcome and not something a compensation scheme pays out for. The Financial Services Compensation Scheme exists for cases where a firm fails and cannot meet its obligations, not for poor returns. There is more on where that line falls in does FSCS cover poor investment performance and using the FSCS Investment Protection Checker.

If you hold the fund through a platform, the protection picture has two layers: the fund itself, and the platform holding it. Platforms hold your investments separately from their own money, and there is guidance on what happens if one fails in what happens if an investment platform or pension provider fails. If you hold it in an ISA, the tax treatment of the wrapper is separate again from the protection of the underlying investment.

Problems, complaints and getting help

If something goes wrong, the first step is Artemis's own complaints process. For complaints about the unit trust and OEIC ranges of funds, contact the complaints coordinator at Sunderland SR43 4BH, by phone on 0800 092 2051 or by email²⁰. Complaints can be made by post, phone, fax or email²⁰. For the Artemis Funds (Lux) range, contact Client Services by letter, email or fax at Cassini House, 57 St James's Street, SW1A 1LD²⁰. Intermediary and institutional investors address correspondence to the Head of Distribution Services, or email complaints@artemisfunds.com²⁰.

If you are not satisfied with the response, you may be able to take the complaint to the Financial Ombudsman Service, which is free to use. Artemis states that, subject to meeting certain criteria, there is a right to refer a complaint to the Ombudsman free of charge, and that the firm will consent to the Ombudsman considering complaints referred outside the time limits²⁰. The Ombudsman can tell a firm to put things right and may award compensation for distress or inconvenience²¹.

The Ombudsman's remit is broad. It helps resolve complaints about issues such as account closures, disputed transactions, IT failures and problems with switching services²². Its published complaints data for the first quarter of 2026/27 shows the volume of cases it receives across product lines, from 8,945 current account complaints to 218 about term assurance²³. Those figures are context for how the service works, not a measure of any one firm.

If you want to track a complaint about access to funds, Resolver covers the issue "Unable To Access Funds" for 21 companies and organisations, including Artemis Fund Managers²⁴. That is a route for logging and escalating a complaint, not a substitute for the firm's own process or the Ombudsman.

If you are struggling with debt rather than a complaint, free and impartial help is available from MoneyHelper and from debt advice charities, and there is a full guide in Debt: a complete guide to help, solutions and your rights. Complaints about debt advice services follow their own route, and CAP Debt Help, for example, asks clients to telephone one of their Debt Advisors or write to the Service Quality and Insight Delivery Manager at Christians Against Poverty, Jubilee House, 1 Filey Street, Bradford BD1 5LQ²⁵.