Artemis has launched the first fund for its new fixed income managers, who joined the firm from Kames Capital earlier this year.

The aim of the Artemis Short-Dated Global High Yield Bond fund is to provide returns in excess of cash over rolling three-year periods. It is managed by David Ennett and Stephen Baines with support from Juan Valenzuela, alongside Jack Holmes and Stephen Snowden.

The fund is a UCITS vehicle, and is a sub-fund of the Artemis Funds (Lux) umbrella. It is currently available to investors in the UK, while registrations across Europe are planned shortly.

Mr Ennett believed the high yield bond fund would provide a steady and reliable return for investors.

He said: “While areas of the fixed income market offer yields below inflation, short maturity high yield corporate bonds are the mainstay of this new fund. They provide yields which normally exceed inflation. Short-maturity BB- and B-rated corporate bonds, an important part of the fund’s universe, have typically been less volatile than the lower-rated parts of the high yield market. Our aim is to preserve investors’ capital and see it grow steadily in real terms, via re-invested income.”

Artemis’ head of Distribution, Jasper Berens, added: “This new fund enhances our capability in fixed income. David and Stephen are experienced and respected managers. By broadening what we offer, we are confident that this new fund will help us continue to meet investors’ needs.”