Kumar to leave Artemis as Alpha trust agrees merger with Aurora (2024)

Consolidation 02 Sep, 2024

Update: Artemis Alpha fund manager Kartik Kumar to join Aurora fund manager Gary Channon at Phoenix Asset Management as the two trusts agree a £300m merger.

By Gavin Lumsden

Twitter Facebook Linkedin WhatsApp >print comments

Update: The investment company sector’s consolidation spree continued today withArtemis Alpha (ATS) shares jumping 6% after the struggling £121m UK all-companies fund agreed to a merger with £198m rival Aurora (ARR).

Seperately, co-manager Kartik Kumar is to leave Artemis and join Aurora’s fund manager, Phoenix Asset Management Partners, later ths year.

This is the tenth investment company merger announced this year and brings to 30 the number of closed-end funds that have exited the market since December 2022 in response to a share price slump caused by high interest rates and inflation.

To continue reading, register for a free Citywire account

By clicking Register you agree to our .
Our privacy policy is available to read at any time here.

To read this article please sign in

Don't have an account?

Twitter Facebook Linkedin WhatsApp >print comments

Related Portfolio Managers

Gary Channon

Kartik Kumar

27/126 in Equity - Europe Excluding UK (Performance over 1 year)

Average total return:

13.35%

Related News

Trusts hit by 80%-plus writedown of Reaction Engines Artemis Alpha doubles FTSE All Share return but faces big autumn exit Stock Talk: Artemis Alpha expects to fly with EasyJet Artemis Alpha overhaul pays off just in time for tender offer

Related Investment Trusts

Artemis Alpha Trust PLC (Ordinary Share) Aurora Investment Trust (Ordinary Share) Castelnau Group Limited (Ordinary Share)

Show and add comments

Please sign in or register to comment. It is free to register and only takes a minute or two.

People moves 02 Sep, 2024 Story By Sophie Downes

Elizabeth Chambers brings more than 30 years of industry experience as she joins to advise on the firm’s platform.

retirement 02 Sep, 2024

Artemis co-founder John Dodd to retire

DYLAN LOBO, WEALTH MANAGER

Editor’s Picks

mps 27 Aug, 2024

MPS versus multi-asset funds: Which perform best?

Growth Stocks 29 Aug, 2024

Blue Whale’s Yiu: ‘I’m not Nvidia’s investor relations team!’

AI and Big Data 28 Aug, 2024

AI Rising summer school: Do asset managers need a one-stop Gen AI system?

ESG all 15 Aug, 2024

FCA scrutinises DFM feedback amid SDR extension rumours

Wealth manager views 23 Aug, 2024

Charles Stanley’s Louis co*ke: ‘It used to be all about fund selection’

Multi Asset 16 Aug, 2024

How smaller DFMs beat Vanguard LifeStrategy

Opinion 19 Aug, 2024

DFMs could be blindsided by an FCA recordkeeping crackdown

Get the latest news in your inbox

By clicking Sign up you agree to our .
Our privacy policy is available to read at any time here.

Private Markets

Private Equity 27 Aug, 2024 Story By Michelle McGagh

Partners’ €100m of private equity sales defy sluggish exit market

Partners Group Private Equity has not let quiet transaction markets get in the way of sales or new investments.

Private Equity 02 Aug, 2024

Tide is turning for misunderstood private equity, says Pantheon

private assets 02 Aug, 2024

Axa’s venture arm takes advantage of BNP deal to go independent

private assets 31 Jul, 2024

Schroders partners with Phoenix to funnel billions in pensions to private markets

private assets 31 Jul, 2024

CGT hike could deter HNW investors from UK equities

Specials

in focus Jul, 2024

Quality investing means backing companies with resilient cash flows that can stay strong amid the fiercest economic storm. With growth, inflation, monetary policy and volatility all currently changing course, we look at the key characteristics of quality and discover wealth managers’ favourite investment styles

MPS Allocators Jun, 2024

MPS Investment Trends

in Focus Apr, 2024

Tap into potential

Discover all specials

Investments

People moves 02 Sep, 2024 Story By Jeremy Gordon

RLAM hires managers from Goldman Sachs and Atomos

Among those joining is Paul Schofield who was most recently co-head of global equity at Goldman Sachs Asset Management.

Fund Flows 30 Aug, 2024

Hot or Not: Royal London keeps Rutter’s old fund top with giant pension allocation

Growth Stocks 29 Aug, 2024

Blue Whale’s Yiu: ‘I’m not Nvidia’s investor relations team!’

Emerging Markets 28 Aug, 2024

JP Morgan EM head Austin Forey on ‘frothy’ India and a tough three years

boutiques 27 Aug, 2024

Peter Rutter’s new boutique loses £1.5bn mandate

Japanese Equities 23 Aug, 2024

Vine’s and Atherton’s Japan funds get boost from 7-Eleven owner bid

China A-shares 22 Aug, 2024

Allianz new China head sees signs of revival after punishing outflows

Videos & Podcasts

Uk Equities 08 Aug, 2024 Story By John Schaffer

What’s it like running UK funds when colleagues are shorting British stocks?

WATCH: Man Group's Henry Dixon says there’s no tension between managing his long-only funds and the 40-plus short positions the wider Man Group has on London-listed companies.

Global Equities 26 Jul, 2024

Mike Fox: Why we haven’t relied on Nvidia and Novo Nordisk for returns

Video 11 Jul, 2024

Royal London £10bn ESG manager Mike Fox: SDR implementation is ‘not clear’

Video 25 Jun, 2024

When Karin met Saker: ‘We're not on some religious crusade’

Podcasts 24 Jun, 2024

‘Baby thrown out with the bathwater’: Sterling bonds just as unloved as UK equities

Investment Leaders 17 Jun, 2024

Go easy on VC and stick with secondaries, say private bank CIOs

Video 08 May, 2024

WATCH: Artemis £2.2bn UK Select’s big 3i win

Connect

29 Aug, 2024 Story By Ross Miller

Next Gen: Priscilla Cheung, Brooks Macdonald

Brooks Macdonald's Priscilla Cheung reflects on what AI means for wealth managers, her advice for younger investors, and who she would love to cook a lasagna for.

Charity fundraising 20 Aug, 2024

It takes two to tandem: One father’s 1,000-mile journey for a cure

01 Aug, 2024

Meet the Multi-Manager: Robin Kyle, Franklin Templeton

mps 01 Aug, 2024

MPS Spotlight: RSMR

Pub Club 18 Jul, 2024

Pub Club: Sam Buckingham, Abrdn Portfolio Solutions

Cpd Recommended 18 Jul, 2024

CPD video: Shariah investing for wealth managers

Opinion 08 Jul, 2024

Citywire Scotland: How wealth managers laid the ground for Labour

Fix the Future

Technology 30 Aug, 2024 Story By Jennifer Hill

Trusts hit by 80%-plus writedown of Reaction Engines

Schroders Capital Global Innovation Trust and Artemis Alpha Trust revalue their investments in Reaction Engines, wiping 4-5% from their net asset values.