Management & Investment Process

  • Lewis S. Kaufman, CFA
  • Portfolio Manager
  • 20Years Investment
    Experience

Investment Process

The investment team seeks to capitalize on low-penetration opportunities by investing in companies that compound business value over a market cycle, while implementing a forward-looking construct for managing risk.

Business Value Compounding
The team seeks to invest in companies with the capital structures and business models to realize their domestic demand potential.

Foundational Risk Management
The team implements a forward-looking construct for managing risk by emphasizing differentiated correlation and currency profiles.

Domicile Ireland
Adviser Artisan Partners Limited Partnership
Management Fee
Class I 0.95%
Class A 1.80%
Currency/Share Class Inception Minimum Investment ISIN
Class I USD 28 January 2019 $2,000,000 IE00BYQRBG58
Class I EUR €2,000,000 IE00BDZT4Z52
Class I GBP £2,000,000 IE00BDZT5183
Class I AUD A$2,000,000 IE00BDZT5076
Class A USD $10,000 IE00BHSRH556

Investment Results (%)

22 July 2019 30 June 2019
NAV Change (%) QTD YTD 1 Yr 3 Yr 5 Yr 10 Yr Inception
Class I USD 12.20 -0.08 6.48 21.60
MSCI Emerging Markets Index (USD) 0.61 3.84
22 July 2019 30 June 2019
NAV Change (%) QTD YTD 1 Yr 3 Yr 5 Yr 10 Yr Inception
Class I USD 12.20 -0.08 6.48 21.60
MSCI Emerging Markets Index (USD) 0.61 3.84

Annual Returns (%)

12 Months Ended 30 June 2015 2016 2017 2018 2019
Class I USD
Class I EUR
Class I GBP
Class I AUD
Class A USD
Returns for periods less than one year are not annualized. 

Past performance does not guarantee and is not a reliable indicator of future results. The portfolio's returns may vary greatly over shorter periods due to the limited operating period since inception. Performance is NAV to NAV, including reinvestment of dividends and capital gains, if any, and is net of fees and expenses, excluding any subscription or redemption charges which may be levied. At the moment, the Fund does not intend to charge subscription or redemption fees. The Fund may be offered in different share classes, which are subject to different fees, expenses and inception dates (which may affect performance), have different minimum investment requirements and are entitled to different services.

Investment Risk: Investments will rise and fall with market fluctuations and investor capital is at risk. Investors investing in funds denominated in non-local currency should be aware of the risk of currency exchange fluctuations that may cause a loss of principal. These risks, among others, are further described in the Important Disclosures section which should be read in conjunction with this material. 
Top 10 Holdings
(% of total portfolio as of 30 June 2019)
MercadoLibre Inc (Argentina) 5.0
Sea Ltd (Singapore) 5.0
Alibaba Group Holding Ltd (China) 5.0
TAL Education Group (China) 4.6
AIA Group Ltd (Hong Kong) 4.6
Kweichow Moutai Co Ltd (China) 4.5
HDFC Bank Ltd (India) 4.5
Visa Inc (United States) 4.4
NVIDIA Corp (United States) 4.4
Tencent Holdings Ltd (China) 4.3
Total 46.3%
View Full Holdings Historical Holdings
Portfolio Statistics
(as of 30 June 2019)
Median Market Cap (Billions) $27.1
Weighted Avg. Market Cap (Billions) $111.1
Number of Securities 38
Number of Countries 15
Cash (% of total portfolio) 6.5%
Region Allocation
(% of total portfolio equities as of 30 June 2019)
Asia 57.7
Developed Markets 22.9
Latin America 15.1
Europe, Middle East and Africa 4.3
Total 100.0%
Top 10 Countries
(% of total portfolio equities as of 30 June 2019)
China 33.6
United States 12.3
India 10.7
Brazil 7.6
Argentina 5.3
Singapore 5.3
Hong Kong 4.9
Netherlands 4.8
France 3.9
Russia 3.5
International investments involve special risks, including currency fluctuation, lower liquidity, different accounting methods and economic and political systems, and higher transaction costs. These risks typically are greater in emerging markets.  Such risks include new and rapidly changing political and economic structures, which may cause instability; underdeveloped securities markets; and higher likelihood of high levels of inflation, deflation or currency devaluations.  Securities of small- and medium-sized companies tend to have a shorter history of operations, be more volatile and less liquid and may have underperformed securities of large companies during some periods.  Investments will rise and fall with market fluctuations and investor capital is at risk. Investors investing in funds denominated in non-local currency should be aware of the risk of currency exchange fluctuations that may cause a loss of principal.  These risks, among others, are further described in the Fund Documents. 

Further details, including risks, fees and expenses, are set out in the current Prospectus, Supplements and Key Investor Information Documents (KIIDs), which can be obtained by calling +44 (0) 207 766 7130 or visiting Fund Documents. Read carefully before investing.

Performance Source: Artisan Partners/MSCI. Data & Statistics Sources: Artisan Partners/FactSet/MSCI. Country Classification Source: Artisan Partners. Portfolio country and region classifications are defined by the investment team and may differ substantially from MSCI classifications. Upon request, Artisan Partners will provide the portfolio’s country and region breakdown according to MSCI methodology.  Artisan Partners may exclude outliers when calculating portfolio statistics. If information is unavailable for a particular security Artisan may use data from a related security to calculate portfolio statistics. Securities of the same issuer are aggregated to determine a holding’s weight in the portfolio. Cash weighting includes cash and cash equivalents. Totals may not sum due to rounding. 

Median is the data's midpoint value. Market Cap is the aggregate value of all of a company's outstanding equity securities. Weighted Average is the average of values weighted to the data set's composition. 

MSCI Emerging Markets Index measures the performance of emerging markets. The index(es) are unmanaged; include net reinvested dividends; do not reflect fees or expenses; and are not available for direct investment. 

MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used to create indices or financial products. This report is not approved or produced by MSCI. 

Artisan Partners Limited Partnership is the investment manager of Artisan Partners Global Funds Plc (APGF). APGF is an umbrella type open-ended investment company with variable capital having segregated liability between its sub-funds, incorporated with limited liability and registered in Ireland under registration number 485593. APGF is authorized by the Central Bank of Ireland as an Undertaking for Collective Investments in Transferable Securities (UCITS). Artisan Partners UK LLP is the distributor for APGF.