Artemis, UK-based investment firm, is planning to expand into the US by launching five new US equity funds in mid-September this year.
The funds, including an US equity fund, a long/short fund and a specialist smaller companies fund, will be managed by the seven-strong US team recently hired from Threadneedle, led by Cormac Weldon.
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Weldon will served as lead manager on the Artemis US Equity fund, Artemis US Select fund and Artemis US Smaller Companies fund, while Stephen Moore will act as deputy on these three funds.
Moore along with William Warren will co-manage the Ucits-compliant Artemis Extended Alpha fund, a 150/50 structured fund, and the Artemis Absolute Return Fund.
The new funds will primarily focus on technology, energy and financials sectors and will be denominated in dollar, euro and sterling shares classes.
Additionally, the three fund managers will be supported by the other four US equity team members, who also joined from Threadneedle.
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By GlobalDataMeantime, the firm is also planning to launch a new Artemis Pan European Absolute Return Fund for Tim Steer and Paul Casson in mid-July.
Moore said: "The economy is on a former footing. New entrant to the housing market in the US has been frozen out. We think the lack of new build will improve over time. "We are seeing the credit given to consumers has been very cautiously extended, which should improve with employment."
Weldon said: "The US has an enormous competitive advantage when manufacturing stuff using gas that is used on a global basis. We are starting to see some big projects being invested in. The whole of the US will not become Texas but there is room for a lot of growth."
