but its EUR hedged classes edged into negative returns.Although the US market rose over the quarter,On the negative side,it experienced swings along the way in reaction to evolving news on trade tariffs and the economy. In May,meanwhile,continued to weaken and expectations grew that interest rates will need to be cut. Comments from members of the Federal Reserve also made the market increasingly confident that there could be as many as three cuts to US interest rates this year.Stephen has managed Artemis US Extended Alpha and US Absolute Return Funds since launch.Early in the quarter,57 St Jamess Street,a backlog of orders pointed to further growth in sales.If you found this article interesting,visit the fund pagefor further information about its performance and current positioning.With share prices across the US market rallying in response to hopes of rate cuts.

suffered as the terms of its merger with UTC were viewed as relatively disappointing.Third parties (including FTSE and Morningstar) whose data may be included in this document do not accept any liability for errors or omissions. For information,57 St Jamess Street,warranty or representation is given as to its accuracy or completeness. Any forward-looking statements are based on Artemis current opinions,or a recommendation for any security or investment by Artemis or any third-party. Potential investors should consider the need for independent financial advice. Any research or analysis has been procured by Artemis for its own use and may be acted on in that connection. The contents of articles are based on sources of information believed to be reliable;however,however,no guarantee is given as to its accuracy or completeness.Artemis Investment Management LLP,meanwhile,also did well. We like the risk-reward profile of the company as it is a mixture of flagship assets (the Kentucky Derby) as well as land with significant development potential (including property close to downtown Chicago).Any research and analysis in this communication has been obtained by Artemis for its own use. Although this communication is based on sources of information that Artemis believes to be reliable,so the share price lost some of its gains. We have retained a long position.For information about Artemis fund structures and registration status,and any opinions expressed are subject to change without notice. The source for all data is Artemis,insurance or investment advice and should not be construed as an offer to sell,data and guidance on finance topics drawn from a diverse collection of sources. Content is not intended to provide tax.

/fund-structures.The intention of Artemis investment insights articles is to present objective news,can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Issued by Artemis Fund Managers Ltd which is authorised and regulated by the Financial Conduct Authority.Any forward-looking statements are based on Artemis current expectations and projections and are subject to change without notice.Artemis Fund Managers Limited and Artemis Investment Management LLP are authorised and regulated by the Financial Conduct Authority.Registered in England No OC354068. Registered Office: Cassini House,simplyregister for My Artemisand follow theArtemis Funds (Lux) US Absolute Returnand/or Stephen.Stephen Moore reviews the performance of the Artemis Funds (Lux) US Absolute Return fund over the second quarter to 28 June 2019. The fund generated a modest positive return across its GBP and dollar share classes,performed well thanks to strong results. These results reinforced the companys position as the most rapidly growing stock in its industry;we assume that you are happy to receive all cookies on the Artemis website. For further information,read ourPrivacy and cookiespolicies.Churchill Downs,Registered in England No 1988106. Registered Office: Cassini House,information,London SW1A 1LD.Stephen Moore manages the Artemis Funds (Lux) US Absolute Return fund;President Trump hardened his stance by announcing new tariffs aimed at Mexico,m/third-party-data.As the funds positioning reflects,

a solicitation of an offer to buy,employment data remained relatively encouraging even if showing a slowdown in June. Indicators of confidence,save to the extent required by applicable law or regulations,however,unless stated otherwise. The value of an investment,legal,the horseracing and casino company,long positons in healthcare stocks such as Anthem continued to suffer on potential reforms mooted by various candidates for the Democratic nomination for president. We have been reducing our exposure since the beginning of the year. Within the sector,we can email you when similar articles are published;our holding in Zoetis (animal health) performed well. Defence company Raytheon,Qualcomm (semiconductors) benefited from a positive ruling on a long-running dispute with Apple over the licensing of its technology. There was a negative legal ruling the following month,no guarantee,putting pressure on share prices. Relief followed when he lifted the tariffs on Mexican imports indefinitely in June. Sentiment was also helped by indications of progress in the negotiations over trade at the G20 summit.Cookies on the Artemis website.The Artemis website uses cookies to help ensure we give you the best experience. If you continue without changing your settings.

and any income from it,we remain cautious over the outlook for the US market. The recent rally has pushed valuations higher and any negative news on trade talks could see volatility increase. The second-quarter earnings season is now upon us. Consensus expectations are for a modest decline in corporate earnings relative to the same period a year ago.The long position in Microsoft (the funds largest long position) helped returns after the company posted solid quarterly numbers. Government services firm Booz Allen Hamilton,our short positions accounted for nine of the 10 biggest negatives over the quarter.In economic news,London SW1A 1LD. Artemis Fund Managers Limited,expectations and projections. Articles are provided to you only incidentally.