Overview

Artisan Partners announced changes to the team effective October 1, 2018.
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From left to right: Joseph Vari, David Samra, Ian McGonigle

Team Highlights

The investment team is composed of deeply rooted value investors who have applied the same philosophy their entire careers.

  • All team members are first and foremost analysts dedicated to finding high-quality investments across all sectors within their broadly defined areas of country responsibility.
  • The team is supported by an experienced global trading desk that averages more than 13 years of experience in global markets.
  • The investment team is located in San Francisco.

Investment Process

The team seeks to invest in high-quality, undervalued companies with strong balance sheets and shareholder-oriented management teams.

Undervaluation

Determining the intrinsic value of a business is the heart of the team’s research process. Intrinsic value represents the amount that a buyer would pay to own a company’s future cash flows. The team seeks to invest at a significant discount to its estimate of the intrinsic value of a business.

Business Quality

The team seeks to invest in companies with histories of generating strong free cash flow, improving returns on capital and strong competitive positions in their industries.

Financial Strength

The team believes that investing in companies with strong balance sheets helps to reduce the potential for capital risk and provides company management the ability to build value when attractive opportunities are available.

Shareholder-Oriented Management

The team’s research process attempts to identify management teams with a history of building value for shareholders.

In-depth Investment Process

 

  • N. David Samra
  • Portfolio Manager
  • International Value Fund
  • 25Years Investment
    Experience

N. David Samra is a managing director of Artisan Partners and founding partner of the Artisan Partners International Value Team. He is lead portfolio manager of the Artisan International Value Fund, which he has managed since its inception in July 2002. Mr. Samra also was co-portfolio manager for the Global Value Fund from its inception in July 2007 through September 2018.

Prior to joining Artisan Partners in May 2002, Mr. Samra was a portfolio manager and a senior analyst in international equities at Harris Associates LP from August 1997 through May 2002. Earlier in his career, he was a portfolio manager with Montgomery Asset Management, Global Equities Division.

Mr. Samra with his former partner Daniel O'Keefe co-founded the Global Value team, which managed both the Artisan International Value and Global Value Funds, in 2002. Mr. Samra was a member of that team until launching the International Value team in 2018. Under the management of Mr. Samra and Mr. O'Keefe, the Global Value team was nominated six times (in 2008, consecutively from 2011-2014 and again in 2016) for Morningstar, Inc.'s International-Stock Fund Manager of the Year award in the US. Mr. Samra and Mr. O'Keefe won the award for their joint management efforts in 2008 and in 2013 for the management of international-stock funds.

Mr. Samra holds a bachelor's degree in finance from Bentley College and a master's degree in business administration from Columbia Business School.

  • Ian P. McGonigle, CFA
  • Co-Portfolio Manager
  • International Value Fund
  • 20Years Investment
    Experience

Ian P. McGonigle, CFA, is a co-portfolio manager on the Artisan Partners International Value Team. In this role, he oversees the research process and conducts fundamental research as a generalist.

Prior to joining Artisan Partners in June 2009, Mr. McGonigle was a securities analyst for Eagle Capital Partners LLC. Earlier in his career, he was a research analyst and vice president for the First Eagle group of mutual funds at Arnhold and S. Bleichroeder Advisers LLC and a senior equity research analyst at Estabrook Capital Management LLC. Mr. McGonigle holds a bachelor's degree in business from Franklin & Marshall College.

  • Joseph Vari
  • Co-Portfolio Manager
  • International Value Fund
  • 20Years Investment
    Experience

Joseph Vari is a co-portfolio manager on the Artisan Partners International Value Team. In this role, he oversees the research process and conducts fundamental research as a generalist.

Prior to joining Artisan Partners in August 2012, Mr. Vari was a generalist analyst for Hunter Global Investors. Earlier in his career, he was a research analyst for Himalaya Capital, a long/short equity fund affiliated with Tiger Management. Mr. Vari holds a bachelor's degree in history (summa cum laude) from Loyola University, a master's degree in anthropology from Columbia University Graduate School of Arts and Sciences, and a master's degree in international affairs, international finance and banking from Columbia University School of International and Public Affairs.