Management & Investment Process

Management

The investment team leverages high degrees of experience and knowledge within a disciplined investment process. Learn more about the Team.
  • Jason L. White, CFA
  • Portfolio Manager
  • 21Years Investment
    Experience
  • James D. Hamel, CFA
  • Portfolio Manager
  • 24Years Investment
    Experience
  • Matthew H. Kamm, CFA
  • Portfolio Manager
  • 21Years Investment
    Experience
  • Craigh A. Cepukenas, CFA
  • Portfolio Manager
  • 32Years Investment
    Experience

Investment Process

The investment team seeks to invest in companies with franchise characteristics that are benefiting from an accelerating profit cycle and are trading at a discount to private market value.

Security Selection

  • Identify companies with franchise characteristics and defensible competitive positions
  • Invest in emerging profit cycles
  • Purchase stocks at a discount to private market value
  • Assess key environmental, social and governance issues that could impact future stock returns

Capital Allocation—Garden, Crop, Harvest® Investing

  • Build position size according to conviction
  • GardenSM — Smaller position sizes in companies that are early on in the profit cycle
  • CropSM — Larger position sizes in companies where profit cycle is being realized
  • HarvestSM — Reduced or sold positions as stock approaches full valuation or profit cycle begins to decelerate

Broad Knowledge

  • Invest opportunistically across entire global economy
  • Find growth wherever growth occurs

In-depth Investment Process

 

Artisan Partners Growth Team Annual Sustainability Report
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 21 August 2017 $500,000 IE00BF2VV687
Class I EUR €500,000 IE00BF2VV794
Class I GBP £500,000 IE00BF2VV802
Class I NOK (Hedged) 3 February 2020 NOK$5,000,000 IE00BG20WJF59
Class A USD $10,000 IE00BHSRHC22

Investment Results (%)

11 June 2021 31 May 2021
NAV Change (%) QTD YTD 1 Yr 3 Yr 5 Yr 10 Yr Inception
Class I USD 22.34 0.63 7.48 3.92 40.66 23.74 23.64
MSCI All Country World Index (USD) 6.00 10.84 41.85 13.86 13.59
Class I NOK (Hedged) 143.85 0.64 7.44 3.49 38.43 31.36
MSCI All Country World Index (NOK) 3.30 7.70 21.40 12.26
11 June 2021 31 March 2021
NAV Change (%) QTD YTD 1 Yr 3 Yr 5 Yr 10 Yr Inception
Class I USD 22.34 0.63 -3.31 -3.31 64.39 22.93 22.39
MSCI All Country World Index (USD) 4.57 4.57 54.60 12.07 12.43
Class I NOK (Hedged) 143.85 0.64 -3.67 -3.67 61.18 28.42
MSCI All Country World Index (NOK) 4.26 4.26 25.68 10.99

Annual Returns (%)

12 Months Ended 31 March 2017 2018 2019 2020 2021
Class I USD 9.23 3.45 64.39
Class I EUR
Class I GBP
Class I AUD
Class A USD
Class I NOK (Hedged) 61.18
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 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 May 2021)
Global Payments Inc (United States) 4.0
Boston Scientific Corp (United States) 3.4
Veeva Systems Inc (United States) 3.2
Techtronic Industries Co Ltd (Hong Kong) 3.2
Zynga Inc (United States) 2.8
First Republic Bank (United States) 2.7
Atlassian Corp PLC (United States) 2.6
Teledyne Technologies Inc (United States) 2.5
Advanced Micro Devices Inc (United States) 2.5
Gerresheimer AG (Germany) 2.5
Total 29.4%
Portfolio Statistics
(as of 31 May 2021)
Median Market Cap (Billions) $20.8
Weighted Avg. Market Cap (Billions) $28.0
Weighted Harmonic Avg. P/E (FY1) 34.4X
Weighted Harmonic Avg. P/E (FY2) 29.5X
Weighted Avg. LT EPS Growth Rate (3-5 Yr) 14.6%
Weighted Avg. LT Debt/Capital 27.6%
Active Share 98.3%
Portfolio Turnover Rate 53.3%
Number of Securities 59
Number of Countries 13
Cash (% of total portfolio) 3.7%
Region Allocation
(% of portfolio securities as of 31 May 2021)
Americas 63.7
Europe 24.9
Pacific Basin 7.0
Emerging Markets 4.3
Total 100.0%
Top 10 Countries
(% of portfolio securities as of 31 May 2021)
United States 62.9
Germany 8.5
Denmark 5.5
Japan 3.7
Hong Kong 3.3
France 2.6
Netherlands 2.3
Switzerland 2.2
China 2.2
United Kingdom 2.2
Sector Diversification
(% of portfolio securities as of 31 May 2021)
Communication Services 5.1
Consumer Discretionary 8.2
Consumer Staples 0.7
Energy
Financials 11.7
Health Care 24.4
Industrials 18.3
Information Technology 27.0
Materials 2.3
Real Estate 0.8
Utilities 1.5
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/MSCI/GICS. Sector exposure percentages reflect sector designations as currently classified by GICS. 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. 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. LT Debt/Capital is the long-term debt to total capital relationship of each company within the portfolio. 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.