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Artemis fund manager Saacke retires from finance to become maths teacher

11 January 2024

Raheel Altaf will assume responsibility for the Artemis SmartGARP Global Equity fund.

By Jonathan Jones,

Editor, Trustnet

Veteran stockpicker Peter Saacke is to step down from running the Artemis SmartGARP global equity funds at the end of June to pursue a career as a maths teacher, the firm announced today.

Saacke, formerly a university teacher, will return to his former career after more than 25 years in finance. Data from FE Analytics going back to 2002 – when Saacke was first named as a manager on the  Artemis SmartGARP European Equity – shows that he has been a proven winner for investors.

Over his career he has returned 465.2% across his portfolios, while a comparable peer group composite has made 375.3%.

Source: FE Analytics

During his tenure the SmartGARP strategy, which buys companies that can grow, but refuses to overpay (GARP stands for growth at a reasonable price), it has increased assets under management to around £1bn.

He is to be replaced as lead manager on the £497m Artemis SmartGARP Global Equity fund by co-manager Raheel Altaf, who joined the team in 2014 and was made co-manager in 2022.

The £172m Artemis SmartGARP European Equity fund meanwhile will continue to be managed by co-manager Philip Wolstencroft, who has headed the fund since its launch in 2001.

Saacke said: “I benefited from receiving a free university education in the UK, and – like many of my peers in our industry – I have been a beneficiary of trends that led to rising inequality in our society. In my eyes, the best way to combat inequality is via education, so I am hoping to make a small contribution and give a little bit back.

“I hope that once I have found my feet as a maths teacher I can also introduce courses in financial literacy for mathematicians and non-mathematicians alike and bridge the gap between the ‘real’ world and the world I have had the privilege of being part of during the past 25 years.”

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Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.