Artemis has replaced the manager on its underperforming £2.8m Global Growth fund in a bid to enhance performance and increase its size.The fund’s large-cap growth style has left it languishing at the bottom of the S&P Equity Global sector over one and three years. It was previously an ABN Amro fund and was managed out of Amsterdam by Edward Neihoff. The fund will now be managed by Peter Saacke, who has been number two to Philip Wolstencroft on the successful Artemis European fund. The European fund, in contrast, is first in the S&P Equity Europe ex UK sector over the year to January 12. The European fund is run on Wolstencroft’s proprietary Smartgarp system, a largely quantitative approach that aims to pick up on market sentiment and momentum. Saacke has developed a global equivalent to Smartgarp and the fund will be run with this new system. Nick Wells, marketing and communications director at Artemis, says that the fund will focus on the $1bn-$10bn market capitalisation bracket, so its existing large-cap bias meant that shifting the portfolio was not a big process. The fund now has Erste Bank, Deutsche Telecom and Puma among its top holdings.