Artemis Investment Management (CAR 1317997 of Non Correlated Advisors AFSL 430126) manages Artemis IM Fund One, an absolute return strategy targeting double-digit net returns. Led by Directors David Howard-Jones and James Gordon and COO & Head of Risk Alex Morris, the team brings global experience to embed professional risk management into every layer of the strategy.
Operating as a disciplined protection seller, the Fund systematically harvests the Volatility Risk Premium (VRP) across liquid US equities. Avoiding unhedged directional bets or forecasting macro cycles, the strategy monetises short volatility paired with maturity-transformation hedging. This systematic approach delivers risk-adjusted returns characterised by low equity beta and lower drawdown exposure than equities.
Portfolio risk is governed by an institutional risk architecture combining proprietary technology with strict limits on directional market exposure, concentration and volatility, supported by a comprehensive suite of policies, procedures, and active risk and compliance registers. 

Artemis IM Fund One seeks to deliver superior risk-adjusted returns by capturing the volatility risk premium in options markets, together with other opportunistic equity and derivative investments. The Fund primarily targets US equity options because of the depth and liquidity of those markets. Its core strategy systematically sells selected options where implied volatility is assessed to exceed subsequently realised volatility, allowing the Fund to receive option premiums as compensation for accepting volatility risk. Fund assets are held largely as cash with Interactive Brokers Australia in Australian dollars, US dollars and other currencies as required, and this cash supports derivative obligations. The Fund may enter options over exchange traded funds and may also hold diversified pools of equities. Risk controls are governed by a comprehensive risk management framework, supported by a full suite of policies, procedures, and active risk and compliance registers. Portfolio risk is managed through strict limits on directional market exposure, concentration and volatility. The portfolio is also continuously stress-tested against adverse market scenarios, alongside active monitoring of operational and options assignment risks to protect capital. Significant cash reserves are held and foreign-currency hedging is undertaken where relevant. The Fund does not currently seek to fully hedge its US dollar exposure, so investors should expect some unhedged currency exposure. The manager may vary asset classes, allocations and return objectives where required to protect investor capital through changing market conditions.