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Artemis UK Special

Situations Fund

Half-Yearly Report (unaudited)

for the six months ended 30 June 2026

Page 2

artemisfunds.com

Keep up to date ...

... with the performance of this and other

Artemis funds throughout the year on Artemis’ website

■ Monthly fund commentaries and factsheets

■ Market and fund insights

■ Fund briefings and research articles

■ Daily fund prices

■ Fund literature

Page 3

General information

Company profile

Artemis is a leading UK-based fund manager, offering a range of funds which invest in the UK, Europe, the US and around the world.

As a dedicated, active investment house, we specialise in investment management for both retail and institutional investors across Europe.

Independent and owner-managed, Artemis opened for business in 1997. Its aim was, and still is, exemplary investment performance and client service. All Artemis’ staff share these two precepts – and the same flair and enthusiasm for fund management.

The firm now manages some £43.8 billion* across a range of funds, two investment trusts and both pooled and segregated institutional portfolios.

Our managers invest in their own and their colleagues’ funds. This has been a basic tenet of the Artemis approach since the firm started. It means that interests of our fund managers are directly aligned with those of our investors.

* Source: Artemis as at 31 July 2026

Fund status

Artemis UK Special Situations Fund was constituted by a Trust Deed dated 25 and 28 February 2000 and is an authorised unit trust scheme under the Financial Services and Markets Act 2000. The fund belongs to the category of UK UCITS schemes as defined in the Collective Investment Schemes Sourcebook (‘COLL’) of the Financial Conduct Authority (‘FCA’).

Buying and selling

Units may be bought and sold by contacting the manager by telephone, at the address on page 5 or via the website artemisfunds.com . Valuation of the fund takes place each dealing day at 12 noon on a forward pricing basis. The current list of non-dealing days impacting the fund is published in the literature section of our website at www.artemisfunds. com. Investors are reminded that past performance is not a guarantee of performance in the future and that the price of units and the revenue from them can fall as well as rise.

Objective and investment policy

Objective To grow capital over a five year period.

Investment policy

What the fund invests in • 80% to 100% in company shares. • Up to 20% 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 derivatives.

Use of derivatives

The fund may use derivatives for efficient portfolio management purposes to: • reduce risk • manage the fund efficiently

Where the fund invests • United Kingdom, including companies in other countries that are headquartered or have a significant part of their activities in the United Kingdom.

Industries the fund invests in • Any

Other limitations specific to this fund

• None

Investment strategy • The fund is actively managed. • A research-driven, bottom-up stock selection process is used to identify unrecognised growth potential in companies that are often out-of-favour. • The manager seeks companies that are in recovery, need re-financing or are suffering from investor indifference (‘special situations’). These companies often have the potential to deliver significant capital growth. • Companies are assessed on the basis of absolute and relative valuation with consideration to potential upside.

Benchmarks • FTSE All-Share Index TR A widely-used indicator of the performance of the UK stockmarket, in which the fund invests. It acts as a ‘comparator benchmark’ against which the fund’s performance can be compared. Management of the fund is not restricted by this benchmark. • IA UK All Companies NR A group of other asset managers’ funds that invest in similar asset types as this fund, collated by the Investment Association. It acts as a ‘comparator benchmark’ against which the fund’s performance can be compared. Management of the fund is not restricted by this benchmark.

Page 4

Risk and reward profile

Potentially lower rewards Lower risk

Potentially higher rewards Higher risk

◼ The fund is in the category shown due to historic volatility (how much and how quickly the value of shares in the fund may have risen and fallen in the past due to movements in markets, currencies and interest rates). It may not be a reliable indication of the future risk profile of the fund.

◼ The risk category has been calculated using historic data and may not be a reliable indicator of the fund’s future risk profile.

◼ A risk indicator of “1” does not mean that the investment is “risk free”.

The risk indicator may not fully take into account the following risks and the following may affect fund performance:

◼ Market volatility risk: The value of the fund and any income from it can fall or rise because of movements in stockmarkets, currencies and interest rates, each of which can move irrationally and be affected unpredictably by diverse factors, including political and economic events. ◼ Currency risk: The fund’s assets may be priced in currencies other than the fund base currency. Changes in currency exchange rates can therefore affect the fund’s value.

◼ Special situations risk: The fund invests in companies that are in recovery, need re-financing or are suffering from lack of market attention (special situations). These companies are subject to higher-than-average risk of capital loss.

The risk indicator changed from 6 to 5 in the six months ended 30 June 2026.

Please refer to the fund’s prospectus for full details of these and other risks which are applicable to this fund.

Other information

Prospectus

Copies of the most recent Prospectus are available free of charge from the manager at the address on page 5.

Tax information reporting

UK tax legislation requires fund managers to provide information to HM Revenue & Customs (‘HMRC’) on certain investors who purchase units in unit trusts. Accordingly, the fund may have to provide information annually to HMRC on the tax residencies of those unitholders that are tax resident outwith the UK, in those countries that have signed up to the OECD’s (‘Organisation for Economic Co-operation and Development’) Common Reporting Standard for Automatic Exchange of Financial Account Information (the ‘Common Reporting Standard’), or the United States (under the Foreign Account Tax Compliance Act, ‘FATCA’).

All new unitholders that invest in the fund must complete a certification form as part of the application form. Existing unitholders may also be contacted by the Registrar should any extra information be needed to correctly determine their tax residence. Failure to provide this information may result in the account being reported to HMRC.

For further information, please see HMRC’s Quick Guide: Automatic Exchange of Information – information for account holders: gov.uk/government/publications/exchange of information-account-holders.

Value assessment

Artemis Fund Managers Limited (AFML) has conducted a detailed assessment of whether its funds are providing value to unitholders. AFML must publish publicly, on an annual basis, a statement setting out a summary of the outcome of the process and whether or not AFML believes the payments out of the scheme property are justified in the context of the overall value delivered to unitholders. Composite reports on Assessment of Value have been published via the website artemisfunds.com.

Taskforce for Climate-Related Financial Disclosures (“TCFD”)

In accordance with the FCA’s requirements under the Environmental, Social and Governance Sourcebook, Artemis is required to publish disclosures consistent with the Taskforce on Climate-Related Financial Disclosures (“TCFD”) for the period 1 January 2025 to 31 December 2025. The entity-level TCFD report contains information about how Artemis manages climate-related risks and opportunities in investment portfolios and across its business operations and the product-level TCFD report contains certain climate related metrics required to be published for Artemis UK Special Situations Fund. These TCFD reports, which were published in June 2026, can be found in the literature section of our website at www.artemisfunds.com.

Page 5

Manager Artemis Fund Managers Limited * Cassini House 57 St James’s Street London SW1A 1LD

Dealing information: Artemis Fund Managers Limited Sunderland SR43 4BH Telephone: 0800 092 2051 Website: artemisfunds.com

Investment adviser Artemis Investment Management LLP * Cassini House 57 St James’s Street London SW1A 1LD

Trustee and Depositary Northern Trust Investor Services Limited * 50 Bank Street Canary Wharf London E14 5NT

Registrar Northern Trust UK Global Services SE † 50 Bank Street Canary Wharf London E14 5NT

Auditor Ernst & Young LLP Atria One 144 Morrison Street Edinburgh EH3 8EX

*Authorised and regulated by the Financial Conduct Authority. † Authorised by the Prudential Regulation Authority (‘PRA’), 20 Moorgate, London EC2R 6DA and regulated by the PRA and the FCA.

Report of the manager

We hereby approve the Half-Yearly Report of the Artemis UK Special Situations Fund for the six months ended 30 June 2026 on behalf of Artemis Fund Managers Limited in accordance with the requirements of COLL as issued and amended by the FCA.

T Johnston S Dougall Director Director Artemis Fund Managers Limited London 27 August 2026

Page 6

Investment Review

Performance

The first half of 2026 demonstrated once again that markets are often more resilient than headlines would suggest. UK investors spent much of the period grappling with two dominant sources of uncertainty: the military conflict involving Iran, which threatens energy supplies and risk renewed inflationary pressures, and an unstable UK political backdrop culminating in Sir Keir Starmer's resignation as prime minister in June. Despite both events carrying the potential to materially unsettle markets, the reaction was measured, with investors looking through near-term uncertainty and focusing instead on the longer-term outlook for growth, interest rates and corporate earnings.

Oil prices initially remained elevated, even though a conditional ceasefire between the US and Iran was brokered in early April. That said, fears of $200 a barrel failed to materialise as China reduced its crude imports and oil inventories were drawn down. In mid-June, a memorandum of understanding was signed, allowing shipping through the Strait of Hormuz to resume although this has since stalled. Oil prices have fallen somewhat but remain volatile.

In the UK, political developments overshadowed the economic news flow. Starmer's resignation, following growing unrest within the Labour Party, introduced another period of political uncertainty, although financial markets have remained sanguine. Andy Burnham committed publicly to the existing fiscal rules and his appointment of well-regarded economic advisers has reassured investors for now. We think he has also learnt the lessons from Labour’s early months in office, with a more optimistic tone to his speeches.

Against that backdrop, the fund returned 5.6% over the six-month period, slightly behind the FTSE All-Share index, which returned 7.2% 1 but ahead of the IA UK All Companies sector which returned 5.0%.

Contributors

◼ IG Group continues to perform well as the turnaround under new management builds momentum. Improved product features and effective marketing are attracting new customers. ◼ Oxford Instruments reported strong trading in its annual results for the year ending 31 March. The Advanced Technologies division has grown its order book and is benefiting from increased demand for compound semiconductors from data centres.

◼ Watches of Switzerland Group delivered a well-received year-end trading update, with 24% revenue growth in the US. Luxury watch demand remains strong and the Roberto Coin jewellery brand it acquired in 2024 continues to gain traction.

◼ Beazley received a bid approach from Zurich. Initial bids were rejected until an agreement was reached at £13.35 per share. At 2.4x tangible book value, we feel this represents a good deal for shareholders and a healthy uplift from our initial purchase price of £6.82 in July 2024.

Detractors

◼ Entain ’s first-quarter trading update was encouraging, with revenues ahead of expectations, driven by 10% growth in online volumes. It also announced the disposal of a 20% interest in its central European joint venture, the first step towards a full exit. The valuation was attractive and the disposal proceeds will allow Entain to reduce its debt. Despite the positive news flow, the sports betting company remained out of favour. ◼ ICG, the alternative asset manager, has been caught up in market concerns around private credit. We feel this is misplaced. ICG’s software exposure is limited and its long-term, closed-ended fund structures offer stability. We continue to believe the long duration of ICG’s earnings and its strong track record are undervalued. ◼ Higher mortgage rates have had a negative impact on consumer confidence. As a result, housebuilders Barratt Redrow and Crest Nicholson have underperformed. ◼ Babcock International Group shares have drifted back after a strong end to 2025. Delays to the UK’s long-awaited Defence Investment Plan also affected sentiment. Its publication at the end of June was supportive for Babcock’s Ministry of Defence programmes and medium-term targets.

Main changes to the fund

We added five new holdings in the period: RELX, Rightmove , Flutter Entertainment, Videndum and Convatec Group.

◼ RELX is a global provider of data and business-critical information tools for insurance, scientific and legal professionals. It has grown its earnings consistently due to new product development and high barriers to entry. The threat of AI has affected the share price, but we see attractive upside.

◼ Rightmove dominates online traffic for estate agent property listings. The shares have underperformed as investors have focused on the potential threat from AI. We would point to the resilience of its core UK residential property franchise. We also believe new growth areas could deliver additional upside for shareholders.

Past performance is not a guide to the future. 1 Artemis/Lipper Limited, class I accumulation, in sterling. All figures show total returns with dividends and/or income reinvested, net of all charges. Performance does not take account of any costs incurred when investors buy or sell the fund. Returns may vary as a result of currency fluctuations if the investor’s currency is different to that of the class. This class may have charges or a hedging approach different from those in the IA sector benchmark.

Page 7

◼ Flutter Entertainment owns sports betting brands Paddy Power, Sky Bet and Betfair in the UK, alongside FanDuel in the US. FanDuel is the US market leader in online sports betting with a 47% market share. It has high brand recognition from its heritage in Fantasy Sports Leagues. As a leading global bookmaker, we think it has a technological edge. The US market is still in the early days of its development and is growing strongly as existing states mature and newly regulated ones launch. We think concerns about the competitive threat from prediction markets are overblown.

◼ We participated in a refinancing of broadcasting equipment provider Videndum . The business has a market-leading product portfolio, but the Hollywood screenwriters’ strike, followed by tariffs, created unprecedented trading headwinds over the past few years that stretched the balance sheet. The refinancing should enable Videndum to invest in new products and drive profitable growth. ◼ Convatec Group has been going through a rehabilitation strategy in recent years, investing in manufacturing quality, spending more on research and development and rebuilding its innovation pipeline. We believe this will support faster revenue growth and higher margins in the future.

We sold our position in Smiths Group . It has simplified its conglomerate structure by selling off two divisions, Detection and Interconnect – achieving prices at the high end of expectations. Smith Group’s shares have performed well, reflecting the successful sales and the quality of its two remaining businesses, John Crane and Flex-Tek.

We also sold Hunting and Morgan Advanced Materials and accepted the takeover bid from Zurich for Beazley . We continue to manage the portfolio actively. We have rebuilt our position in Babcock International Group and added to Entain and Unilever , whilst taking profits in several stocks that have performed well, including Hill & Smith, IG Group, Oxford Instruments and Watches of Switzerland Group.

Outlook

We have been pleased with the recovery after a difficult first quarter, in keeping with our history of rebounding from periods of market dislocation. Our portfolio companies are performing well operationally and valuations look compelling, in our view. We continue to manage the fund actively and idea generation remains strong. We look to the future with confidence.

Andy Gray and Henry Flockhart Fund managers

Page 8

Investment information

Ten largest purchases and sales for the six months ended 30 June 2026

Purchases

Cost £’000 Sales

Proceeds £’000 Babcock International Group 1 5,80 3 Oxford Instruments 1 5,6 4 8 RELX 1 4 , 7 50 GSK 1 4 ,6 7 0 Flutter Entertainment 1 2, 7 3 6 Beazley 1 3 ,08 7 Rosebank Industries 1 2, 7 1 0 Morgan Advanced Materials 1 0,882 Unilever 11 , 7 56 Hill & Smith 1 0,509 ICG 9, 1 77 Smiths Group 1 0,258 Entain 8,055 Shell 9,26 4 NatWest Group 6, 44 1 Watches of Switzerland Group 8, 44 5 Shell 6,26 3 ICG 7 ,980 Rightmove 5, 7 95 Barclays 7 ,92 3

Portfolio statement as at 30 June 2026

Holding

Valuation £ '000

% of net assets Equities 98.16% ( 97.18% ) Basic Materials 3.30% (4 (4.62% ) Anglo American 318,906 11,989 1 . 77 Hill & Smith 374,930 10,395 1 .53 22,384 3.30 Communication 0.88% ( 0.00% ) Rightmove 1,349,000 5,952 0.88 5,952 0.88 Consumer Discretionary 26.94% ( 26.95% ) 4imprint Group 104,000 3,884 0.5 7 Barratt Redrow 5,722,425 16,068 2.3 7 Coats Group 15,212,447 11,965 1 . 7 6 Crest Nicholson plc 7,413,636 5,412 0.80 DFS Furniture 5,585,959 7,792 1 . 1 5 Dunelm Group 996,272 7,970 1 . 1 7 Entain 4,761,529 27,712 4 .08 Flutter Entertainment 117,927 9,187 1 .35 Future 2,322,005 7,103 1 .05 Mitchells & Butlers 5,790,193 14,273 2. 1 0 Next 41,373 6,076 0.90 On the Beach Group 5,793,482 10,127 1 . 4 9 Videndum 966,591 4,205 0.62 Watches of Switzerland Group 1,331,320 9,476 1 . 4 0 WH Smith 1,719,000 6,744 0.99 Whitbread 764,292 18,557 2. 7 4 Wickes Group 4,700,942 8,856 1 .3 1 YouGov # 3,426,859 7,375 1 .09 182,782 26.94 Consumer Staples 10.27% ( 7.53% ) B&M European Value Retail plc 7,898,353 15,564 2.29 Marks & Spencer Group 6,073,000 23,032 3.39 Unilever 680,906 31,124 4 .59 69,720 1 0.27 Energy 5.67% ( 6.34% ) BP 1,805,554 8,506 1 .25

Page 9

Holding

Valuation £‘000

% of net assets Equities 98.16% (97.18%) (continued) Energy 5.67% (6.34%) (continued) Shell 1,029,976 29,988 4 . 4 2 38,494 5.67 Financials 33.15% ( 31.63% ) Aviva 4,223,688 27,543 4 .06 Barclays 6,463,214 33,066 4 .8 7 Conduit Holdings 2,773,884 13,134 1 .9 4 IG Group 1,453,142 26,709 3.9 4 Intermediate Capital Group 1,570,817 26,594 3.92 Lloyds Banking Group 17,130,000 19,070 2.8 1 Man Group 4,737,922 13,934 2.05 NatWest Group 3,256,129 21,728 3.20 Rosebank Industries # 5,296,528 17,743 2.6 1 Standard Chartered 1,234,563 25,426 3. 7 5 224,947 33. 1 5 Health Care 2.89% ( 3.56% ) Convatec Group 1,600,000 3,466 0.5 1 GSK 807,692 16,158 2.38 19,624 2.89 Industrials 14.29% ( 15.75% ) Babcock International Group 2,397,885 22,777 3.36 Grafton Group 2,735,348 24,900 3.6 7 Johnson Service Group 11,718,443 19,775 2.9 1 MBA Polymers ^ 2,105,625 – Oxford Instruments 306,543 9,399 1 .39 RELX 640,293 15,216 2.2 4 Zigup 1,065,615 4,880 0. 7 2 96,947 1 4.29 Technology 0.77% ( 0.80% ) AdvancedAdvT # 3,442,922 5,251 0. 77 5,251 0.77 Equities total 666,101 98. 1 6 Investment assets 666,101 98. 1 6 Net other assets 12,482 1 .84 Net assets attributable to unitholders 678,583 1 00.00 The comparative percentage figures in brackets are as at 31 December 2025 # Security listed on the Alternative Investment Market (‘AIM’). ^ Unlisted, suspended or delisted security.

Page 10

Financial statements

Statement of total return for the six months ended 30 June 2026

30 June 2026 30 June 2025 £'000 £'000 £'000 £'000 Income Net capital gains 24,874 70,706 Revenue 12,768 11,102 Expenses (3,958) (3,390) Net revenue before taxation 8,810 7,712 Taxation – (175) Net revenue after taxation 8,810 7,537 Total return before distributions 33,684 78,243 Distributions (248) (71) Change in net assets attributable to unitholders from investment activities 33,436 78,172

Statement of change in net assets attributable to unitholders for the six months ended 30 June 2026

30 June 2026 30 June 2025 £'000 £'000 £'000 £'000 Opening net assets attributable to unitholders 666,162 571,752 Issue of units 39,412 24,941 Cancellation of units (60,488) (42,501) (21,076) (17,560) Dilution adjustment 61 Change in net assets attributable to unitholders from investment activities 33,436 78,172 Closing net assets attributable to unitholders 678,583 632,364

Balance sheet as at 30 June 2026

30 June 2026 £'000

31 December 2025 £'000 Assets Investments 666,101 647,343 Current assets Amounts receivable 4,674 1,432 Cash and cash equivalents 9,427 19,221 Total assets 680,202 667,996 Liabilities Current liabilities: Distribution payable – 563 Other amounts payable 1,6 19 1,271 Total liabilities 1,6 19 1,834 Net assets attributable to unitholders 678,58 3 666,162

Page 11

1. Basis of preparation The interim financial statements have been prepared under the historical cost basis, as modified by the revaluation of investments, in accordance with FRS 104, which applies the recognition and measurement principles of FRS 102 but requires only selected disclosures appropriate to an interim financial report. Accordingly, these interim financial statements do not include all of the information and disclosures required in a full set of annual financial statements prepared in accordance with FRS 102. The financial statements have been prepared on a going concern basis. The manager believes that the fund has adequate resources to continue in operational existence for the foreseeable future. No material events have been identified that may cast significant doubt about the fund’s ability to continue as a going concern for a period of twelve months from the date the financial statements are authorised for issue. The accounting policies applied are consistent with those of the annual financial statements for the year ended 31 December 2025, except for the adoption of the 2025 IA Statement of Recommended Practice (SORP) relating to the valuation of investments. In accordance with the 2025 IA SORP and the amended FRS 102 requirements, investments are measured at fair value using the mid-market price (being the price within the bid-ask spread that is most representative of fair value). This change in valuation technique has been applied prospectively on adoption of the SORP and, accordingly, comparative figures have not been restated. Where appropriate, the last regular valuation point has been used as a suitable indicator of fair value at the period end.

2. Related party transactions The manager is deemed to be a related party. All transactions and balances associated with the manager are disclosed within the statement of total return, statement of change in net assets attributable to unitholders and the balance sheet on page 10 including all issues and cancellations where the manager acted as principal. The balance due to the manager as at 30 June 2026 in respect of these transactions was £1,170,000 (31 December 2025: £1,121,000).

3. Fair value hierarchy All investments are designated at fair value through profit or loss on initial recognition. The following table provides an analysis of these investments based on the fair value hierarchy in accordance with FRS 102 which reflects the reliability and significance of the information used to measure their fair value. The disclosure is split into the following categories: Level 1 – Investments with unadjusted quoted prices in an active market; Level 2 – Investments whose fair value is based on inputs other than quoted prices that are either directly or indirectly observable; Level 3 – Investments whose fair value is based on inputs that are unobservable (i.e. for which market data is unavailable).

30 June 2026 31 December 2025 Assets £'000

Assets £'000

Assets £'000 Level 1 Equities – 666,101 – 647,343 Total – 666,101 – 647,343

4. Post balance sheet events

There were no significant post balance sheet events subsequent to the period end.

Page 12

Fund sizes & net asset values

Date

Net asset value of fund (£)

Net asset value per unit (p)

Units in issue 31 December 2023 53 1 , 1 82,046 C accumulation 746.63 5 , 920 , 3 11 I distribution 655.70 2 , 378 , 704 I accumulation 830.87 33 , 11 5 , 75 1 R accumulation 738.03 26 , 588 , 499 31 December 2024 57 1 ,75 1 ,8 1 8 C accumulation 840.22 5 , 406 , 252 I distribution 723.74 2 , 494 , 238 I accumulation 939.22 32 , 1 08 , 950 R accumulation 828.07 24 , 96 1 , 805 31 December 2025 666, 1 6 1 ,827 C accumulation 1 , 0 1 9.46 4 , 95 1 , 275 I distribution 862.54 2 , 879 , 082 I accumulation 1 , 1 44.7 1 28 , 1 82 , 474 R accumulation 1 , 00 1 .7 1 26 , 778 , 62 1 30 June 2026 678,582,8 1 3 C accumulation 1 , 073. 1 2 4 , 748 , 430 I distribution 909.99 3 , 049 , 7 1 4 I accumulation 1 , 207.65 26 , 767 , 3 1 0 R accumulation 1 , 052.87 26 , 272 , 740

Ongoing charges

Class 30 June 2026 C accumulation 1.310%

I distribution 0.860% I accumulation 0.860%

R accumulation 1.610%

Ongoing charges shows the annual operating expenses of each unit class as a percentage of the average net assets of that class for the preceding 12 months.

Class I accumulation performance

Since launch *

10 years

5 years

3 years

1 year

6 months Artemis UK Special Situations Fund ** 1,168.9 126.4 51.2 54.9 12.5 5.6 Artemis UK Special Situations Fund *** 1,158.9 119.5 49.6 53.3 12.0 4.4 FTSE All-Share Index 344.6 129.8 67.9 53.1 21.9 7.2 IA UK All Companies average 289.9 96.9 32.6 37.0 12.2 5.0 Position in sector 1/65 46/149 63/166 25/171 92/174 83/175 Quartile 1 2 2 1 3 2 Past performance is not a guide to the future.

* Source: Artemis/Lipper Limited, data from 9 March 2000 to 7 March 2008 reflects class R accumulation units, and from 7 March 2008 reflects class I accumulation units, in sterling with dividends reinvested to 30 June 2026. All figures show total returns with income reinvested, net of all charges. Performance does not take account of any costs incurred when investors buy or sell the fund. Returns may vary as a result of currency fluctuations if the investor’s currency is different to that of the class. This class may have charges or a hedging approach different from those in the IA sector benchmark. ** Value at 12 noon valuation point. *** Value at close of business.

Class I accumulation is disclosed as it is the primary unit class.

Page 13

Artemis Fund Managers Limited Cassini House, 57 St James’s Street, London SW1A 1LD 6th floor, Exchange Plaza, 50 Lothian Road, Edinburgh EH3 9BY

Client Services 0800 092 2051 Facsimile 0207 643 3708

Website www.artemisfunds.com

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        "text": "The fund is actively managed."
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        "id": "39151161-4d94-4da3-bdc4-a6b42ad0a502",
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        "text": "A research-driven, bottom-up stock selection process"
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        "text": "is used to identify unrecognised growth potential in"
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        "id": "fb078d92-ff6b-41fc-8312-25aed0de2edb",
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        "text": "companies that are often out-of-favour."
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        "text": "The manager seeks companies that are in recovery,"
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        "text": "need re-financing or are suffering from investor"
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        "text": "indifference (\u2018special situations\u2019). These companies"
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        "text": "often have the potential to deliver significant capital"
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        "text": "Companies are assessed on the basis of absolute"
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        "text": "and relative valuation with consideration to potential"
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        "text": "Benchmarks"
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        "text": "\u2022 FTSE All-Share Index TR"
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        "text": "A widely-used indicator of the performance of the"
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        "text": "UK stockmarket, in which the fund invests. It acts as"
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        "text": "a \u2018comparator benchmark\u2019 against which the fund\u2019s"
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        "text": "performance can be compared. Management of the"
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        "text": "fund is not restricted by this benchmark."
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        "text": "A group of other asset managers\u2019 funds that invest"
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        "text": "in similar asset types as this fund, collated by the"
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        "text": "Investment Association. It acts as a \u2018comparator"
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        "text": "benchmark\u2019 against which the fund\u2019s performance can"
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        "text": "be compared. Management of the fund is not restricted"
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        "text": "by this benchmark."
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        "text": "4"
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        "id": "76675f7c-b763-4c15-9876-83686a8d2386",
        "page_number": 4,
        "text": "Risk and reward profile"
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        "id": "8337a6d2-7949-4840-b6ab-4da287a78e70",
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        "text": "Potentially lower rewards"
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        "text": "Lower risk"
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        "text": "Potentially"
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        "text": "Higher risk"
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        "text": "\u25fc"
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        "id": "d5015e55-5fc8-4d00-bbab-2646562d1aae",
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        "text": "The fund is in the category shown due to historic volatility"
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        "text": "(how much and how quickly the value of shares in the fund"
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        "text": "may have risen and fallen in the past due to movements"
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        "text": "in markets, currencies and interest rates). It may not be a"
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        "text": "reliable indication of the future risk profile of the fund."
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        "id": "f8bbd127-6bc9-4d7b-a572-4ecb9c9523d6",
        "page_number": 4,
        "text": "\u25fc"
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        "id": "1ac667ce-f652-40af-8837-95d40256d289",
        "page_number": 4,
        "text": "The risk category has been calculated using historic data"
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        "id": "b398cd16-3833-4899-b46d-bfa9748047b5",
        "page_number": 4,
        "text": "and may not be a reliable indicator of the fund\u2019s future risk"
      },
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        "id": "a600e213-cf47-40bd-9f86-103916c6ff95",
        "page_number": 4,
        "text": "profile."
      },
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        "page_number": 4,
        "text": "\u25fc"
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        },
        "id": "8a547096-ec65-464b-87dd-cfe54bf88575",
        "page_number": 4,
        "text": "A risk indicator of \u201c1\u201d does not mean that the investment is"
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        "id": "64d242aa-f619-4c9b-9461-d7fefba75cd9",
        "page_number": 4,
        "text": "\u201crisk free\u201d."
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        "id": "39b392df-e91c-4ced-9fae-fccc4bce49e9",
        "page_number": 4,
        "text": "The risk indicator may not fully take into account"
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        "id": "05676ee7-7138-4e20-8d1e-d9652f617111",
        "page_number": 4,
        "text": "the following risks and the following may affect fund"
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        "id": "6f954faa-3ebf-43f9-b56d-ac0738046d58",
        "page_number": 4,
        "text": "performance:"
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        "text": "\u25fc"
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        "id": "40f40ed4-10ac-4189-8862-b659ca0cb51c",
        "page_number": 4,
        "text": "Market volatility risk:"
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        "id": "16204bc1-37c6-4811-8c8a-d15974bcd4d0",
        "page_number": 4,
        "text": "The value of the fund and any"
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        "id": "35306c74-1e6a-409d-a5a1-503501b08b81",
        "page_number": 4,
        "text": "income from it can fall or rise because of movements in"
      },
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        },
        "id": "05cca069-c26f-4056-a8ca-5946fe652938",
        "page_number": 4,
        "text": "stockmarkets, currencies and interest rates, each of which"
      },
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        "id": "048bbfad-bf9e-4180-b129-6ef9a838270d",
        "page_number": 4,
        "text": "can move irrationally and be affected unpredictably by"
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        "id": "734dd0e1-f0ce-49bf-b01e-86a95abda6e3",
        "page_number": 4,
        "text": "diverse factors, including political and economic events."
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        "page_number": 4,
        "text": "\u25fc"
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        },
        "id": "60a2697b-f4f9-46a0-a109-3902df2f8806",
        "page_number": 4,
        "text": "Currency risk:"
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        },
        "id": "a5930bc8-a9a6-45f8-8766-51c806a78ffb",
        "page_number": 4,
        "text": "The fund\u2019s assets may be priced in"
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        "id": "95e8e722-fb1a-4ee4-b349-e70d9c78cef1",
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        "text": "currencies other than the fund base currency. Changes in"
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        "id": "b6295cc8-962d-4de7-84a5-84ae9e4c9c63",
        "page_number": 4,
        "text": "currency exchange rates can therefore affect the fund\u2019s"
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        "id": "397a4b25-7162-455c-8365-e66cbbbf93e4",
        "page_number": 4,
        "text": "value."
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        "page_number": 4,
        "text": "\u25fc"
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      {
     ...