Management & Investment Process

  • Lewis S. Kaufman, CFA
  • Portfolio Manager
  • 22Years Investment

Investment Process

The investment team seeks to build, preserve and reinforce a stream of compounded business value. It defines this emphasis as follows:

Build: Pair low penetration domestic demand with scalable and enduring businesses.

Preserve: Create a differentiated correlation experience, manage currency volatility and limit risk of investment impairment.

Reinforce: Reinforce a compounding outcome through methodical portfolio improvement.

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 $500,000 IE00BYQRBG58
Class I EUR 19 February 2021 €500,000 IE00BDZT4Z52
Class I GBP 11 September 2020 £500,000 IE00BDZT5183
Class I AUD A$500,000 IE00BDZT5076
Class A USD $10,000 IE00BHSRH556

Investment Results (%)

20 September 2021 31 August 2021
NAV Change (%) QTD YTD 1 Yr 3 Yr 5 Yr 10 Yr Inception
Class I USD 23.34 -2.55 -5.97 0.38 19.44 40.14
MSCI Emerging Markets Index (USD) -4.29 2.84 21.12 12.39
Class I GBP 11.34 -2.07 -5.32 -0.17 15.70
MSCI Emerging Markets Index (GBP) -3.93 2.15 13.45
Class I EUR 8.78 -2.55 -5.49 -10.40
MSCI Emerging Markets Index (EUR) -3.85 -4.72
20 September 2021 30 June 2021
NAV Change (%) QTD YTD 1 Yr 3 Yr 5 Yr 10 Yr Inception
Class I USD 23.34 -2.55 9.64 6.74 52.39 47.20
MSCI Emerging Markets Index (USD) 5.05 7.45 40.90 15.38
Class I GBP 11.34 -2.07 9.20 5.44 22.20
MSCI Emerging Markets Index (GBP) 4.91 6.32 18.09
Class I EUR 8.78 -2.55 8.34 -5.20
MSCI Emerging Markets Index (EUR) 4.11 -0.90

Annual Returns (%)

12 Months Ended 30 June 2017 2018 2019 2020 2021
Class I USD 37.50 52.39
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 investment vehicles 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 31 August 2021)
Visa Inc (United States) 6.7
Sea Ltd (Singapore) 6.1
Airbnb Inc (United States) 5.2
MercadoLibre Inc (Argentina) 5.0
Tencent Holdings Ltd (China) 4.9
NVIDIA Corp (United States) 4.5
Alibaba Group Holding Ltd (China) 4.4
Adyen NV (Netherlands) 4.3
Unity Software Inc (United States) 4.2
Veeva Systems Inc (United States) 4.2
Total 49.5%
View Full Holdings Historical Holdings
Portfolio Statistics
(as of 31 August 2021)
Median Market Cap (Billions) $98.3
Weighted Avg. Market Cap (Billions) $197.6
Number of Securities 29
Number of Countries 9
Cash (% of total portfolio) 1.3%
Region Allocation
(% of portfolio securities as of 31 August 2021)
Region Allocation chart
Developed Markets 51.8
Asia 39.9
Latin America 7.2
Europe, Middle East and Africa 1.2
Total 100.0%
Top 10 Countries
(% of portfolio securities as of 31 August 2021)
United States 40.8
China 30.7
Netherlands 7.4
Singapore 6.2
Argentina 5.1
France 3.5
India 3.0
Brazil 2.1
Russia 1.2
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/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 outlier data and certain securities which lack applicable attributes, such as private securities 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 (USD) 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.