- Investor Update—Q4 2023
- Artisan Partners Developing World Team Portfolio Manager Lewis Kaufman discusses his team’s investment philosophy, portfolio positioning and the current market environment.
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The investment team seeks to build, preserve and enhance a stream of compounded business value. It defines this emphasis as follows:
Build
Pair low penetration domestic demand with scalable and enduring businesses that are able to drive value creation and disproportionate outcomes.
Preserve
Preserve value creation and establish a forward-looking construct for managing risk.
Enhance
Leverage value pathways to enhance long-term value creation.
As of 30 April 2024 | QTD | YTD | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Inception |
---|---|---|---|---|---|---|---|
Advisor Class: APDYX | -2.84 | 8.00 | 19.08 | -10.29 | 8.63 | — | 9.06 |
MSCI Emerging Markets Index | 0.45 | 2.83 | 9.88 | -5.69 | 1.89 | — | 3.42 |
As of 31 March 2024 | QTD | YTD | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Inception |
---|---|---|---|---|---|---|---|
Advisor Class: APDYX | 11.16 | 11.16 | 17.54 | -7.78 | 9.89 | — | 9.51 |
MSCI Emerging Markets Index | 2.37 | 2.37 | 8.15 | -5.05 | 2.22 | — | 3.40 |
2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|
Advisor Class: APDYX | 41.89 | 81.52 | -9.72 | -41.27 | 29.72 |
MSCI Emerging Markets Index | 18.42 | 18.31 | -2.54 | -20.09 | 9.83 |
As of 31 March 2024 | Average Up Month | Average Down Month |
Advisor Class: APDYX | 460bps | -387bps |
MSCI Emerging Markets Index | 392bps | -406bps |
Difference | +68bps | +19bps |
Based on monthly returns for APDYX (Advisor Shares) beginning with July 2015, the first full month since inception. Upside/Downside Capture represents average monthly returns during months when the index was positive and negative, respectively.
Annual Report 30 September 2023 | 1.13% |
---|---|
Prospectus 30 September 2023 | 1.13% |
See prospectus for further details.
Top 10 Holdings (% of total portfolio as of 30 April 2024) |
|
---|---|
Sea Ltd (Singapore) | 6.1 |
MercadoLibre Inc (Argentina) | 6.1 |
MakeMyTrip Ltd (India) | 5.4 |
NVIDIA Corp (United States) | 5.2 |
Visa Inc (United States) | 4.6 |
NU Holdings Ltd (Brazil) | 4.4 |
Crowdstrike Holdings Inc (United States) | 4.3 |
Airbnb Inc (United States) | 4.3 |
Adyen NV (Netherlands) | 4.0 |
Meituan (China) | 3.6 |
Total | 48.0% |
Portfolio Statistics (as of 30 April 2024) |
|
---|---|
Median Market Cap (Billions) | $70.8 |
Weighted Avg. Market Cap (Billions) | $243.1 |
Number of Securities | 31 |
Number of Countries | 9 |
Cash (% of total portfolio) | 2.6% |
Region Allocation (% of portfolio securities as of 30 April 2024) |
|
---|---|
Developed Markets | 49.0 |
Asia | 40.2 |
Latin America | 10.8 |
Total | 100.0% |
Top 10 Countries (% of portfolio securities as of 30 April 2024) |
|
---|---|
United States | 37.0 |
China | 18.7 |
India | 12.3 |
Singapore | 9.2 |
Netherlands | 7.1 |
Argentina | 6.3 |
Brazil | 4.5 |
France | 4.2 |
Australia | 0.6 |