Management & Investment Process

Management

The investment team leverages high degrees of experience and knowledge within a disciplined investment process. Learn more about the Team.
  • Mark L. Yockey, CFA
  • Portfolio Manager
  • 38Years Investment
    Experience
  • Charles-Henri Hamker
  • Portfolio Manager
  • 29Years Investment
    Experience
  • Andrew J. Euretig
  • Portfolio Manager
  • 15Years Investment
    Experience

Investment Process

The investment team seeks to invest in companies within its preferred themes with sustainable growth characteristics at attractive valuations that do not reflect their long-term potential.

Themes

  • Identify long-term secular growth trends
  • Invest in companies poised to be beneficiaries of those trends

Sustainable Growth

  • Sustainable competitive advantage
  • Superior business model
  • High-quality management team

Valuation

  • Assess valuation relative to growth potential and to history and peers
  • Invest in companies whose sustainable growth prospects are not fully reflected in underlying stock prices

In-depth Investment Process

 

    Domicile Ireland
    Adviser Artisan Partners Limited Partnership
    Management Fee
    Class I 0.90%
    Class A 1.75%
    Currency/Share Class Inception Minimum Investment ISIN
    Class I USD 7 August 2012 $2,000,000 IE00B43QZT63
    Class I EUR €2,000,000 IE00B45F1157
    Class I GBP 8 February 2016 £2,000,000 IE00B3SM1T48
    Class I AUD A$2,000,000 IE00B68B2G61
    Class A USD $10,000 IE00B8KP7M14

    Investment Results (%)

    23 May 2019 30 April 2019
    NAV Change (%) QTD YTD 1 Yr 3 Yr 5 Yr 10 Yr Inception
    Class I USD 21.26 -1.21 4.38 18.36 9.82 15.21 9.24 12.03
    MSCI All Country World Index (USD) 3.38 15.96 5.06 11.36 6.96 9.70
    Class I GBP 19.43 -1.12 4.27 15.74 15.96 19.67 22.10
    MSCI All Country World Index (GBP) 3.33 13.29 11.00 15.77 18.15
    23 May 2019 31 March 2019
    NAV Change (%) QTD YTD 1 Yr 3 Yr 5 Yr 10 Yr Inception
    Class I USD 21.26 -1.21 13.40 13.40 6.41 14.48 8.15 11.46
    MSCI All Country World Index (USD) 12.18 12.18 2.60 10.67 6.45 9.28
    Class I GBP 19.43 -1.12 11.00 11.00 14.63 18.26 21.12
    MSCI All Country World Index (GBP) 9.64 9.64 10.46 14.35 17.44

    Annual Returns (%)

    12 Months Ended 31 March 2015 2016 2017 2018 2019
    Class I USD 8.13 -8.78 10.87 27.17 6.41
    Class I EUR
    Class I GBP 26.99 13.62 14.63
    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. 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 April 2019)
    Linde PLC (United Kingdom) 4.6
    Wirecard AG (Germany) 4.4
    Deutsche Boerse AG (Germany) 4.3
    Harris Corp (United States) 3.9
    Petroleo Brasileiro SA (Brazil) 3.4
    Intercontinental Exchange Inc (United States) 3.3
    Alphabet Inc (United States) 3.1
    InterXion Holding NV (Netherlands) 3.1
    Mastercard Inc (United States) 2.9
    Airbus SE (France) 2.8
    Total 35.7%
    Portfolio Statistics
    (as of 30 April 2019)
    Median Market Cap (USD Billions) $15.0
    Weighted Avg. Market Cap (USD Billions) $115.9
    Weighted Harmonic Avg. P/E (FY1) 22.5X
    Weighted Harmonic Avg. P/E (FY2) 19.8X
    Weighted Avg. LT EPS Growth Rate (3-5 Yr) 19.3%
    Weighted Average ROE 11.3%
    Active Share 89.7%
    Portfolio Turnover Rate 121.0%
    Number of Securities 74
    Number of Countries 16
    Cash (% of total portfolio) 1.4%
    Region Allocation
    (% of total portfolio equities as of 30 April 2019)
    Americas 48.9
    Europe 39.4
    Pacific Basin 6.2
    Emerging Markets 5.5
    Total 100.0%
    Top 10 Countries
    (% of total portfolio equities as of 30 April 2019)
    United States 47.3
    Germany 11.0
    United Kingdom 7.4
    Netherlands 5.7
    Switzerland 5.3
    France 4.7
    Brazil 3.4
    Japan 3.4
    Italy 3.3
    Hong Kong 2.8
    Sector Diversification
    (% of total portfolio equities as of 30 April 2019)
    Communication Services 6.5
    Consumer Discretionary 6.3
    Consumer Staples 3.5
    Energy 3.4
    Financials 15.6
    Health Care 14.1
    Industrials 13.9
    Information Technology 31.1
    Materials 5.5
    Real Estate
    Utilities
    Total 100.0%
    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.  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.  Growth securities may underperform other asset types during a given period.  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/GICS. Sector exposure percentages reflect sector designations as currently classified by GICS. Portfolio turnover is reported as of the strategy’s fiscal year end. 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. Weighted Harmonic Average is a calculation of weighted average commonly used for rates or ratios. Price-to-Earnings Ratio (P/E Ratio) measures how expensive a stock is. Earnings figures used for FY1 and FY2 are estimates for the current and next unreported fiscal years. LT EPS Growth Rate is the average of the 3-5 year forecasted EPS growth rate of a company. Return on Equity (ROE) is a profitability ratio that measures the amount of net income returned as a percentage of shareholders equity. Active Share is defined as the percentage of a portfolio that differs from its benchmark index. Active Share can range from 0% for an index fund that perfectly mirrors its benchmark to 100% for a portfolio with no overlap with an index. Portfolio Turnover is a measure of the trading activity in an investment portfolio—how often securities are bought and sold by a portfolio. 

    MSCI All Country World Index measures the performance of developed and 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. 

    The Global Industry Classification Standard (GICS®) is the exclusive intellectual property of MSCI Inc. (MSCI) and Standard & Poor’s Financial Services, LLC (S&P). Neither MSCI, S&P, their affiliates, nor any of their third party providers (“GICS Parties”) makes any representations or warranties, express or implied, with respect to GICS or the results to be obtained by the use thereof, and expressly disclaim all warranties, including warranties of accuracy, completeness, merchantability and fitness for a particular purpose. The GICS Parties shall not have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of such damages.

    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.