Morningstar Ratings

Growth Sustainable Emerging Markets
Global Equity Credit
U.S. Value Developing World
International Value Antero Peak Group
Global Value
Ratings/Funds in Category
30 September 2020
Team Fund Name Category 3 Yr 5 Yr 10 Yr Overall Analyst Rating
Global Opportunities (ARTRX) World Large Stock 725 608 360 725 Bronze
Global Discovery (APFDX) World Large Stock 725 725
Mid Cap (ARTMX) Mid-Cap Growth 557 500 380 557 Bronze
Small Cap (ARTSX) Small Growth 579 513 384 579 Bronze
Global Equity (ARTHX) World Large Stock 725 608 360 725 Bronze
International (ARTIX) Foreign Large Growth 420 336 243 420 Bronze
International Small-Mid (ARTJX) Foreign Small/Mid Growth 115 92 62 115 Bronze
Value (ARTLX) Large Value 1129 992 716 1129 Bronze
Mid Cap Value (ARTQX) Mid-Cap Value 391 348 248 391 Bronze
International Value (ARTKX) Foreign Large Blend 647 548 363 647 Silver
Global Value (ARTGX) World Large Stock 725 608 360 725 Silver
Sustainable Emerging Markets (ARTZX) Diversified Emerging Mkts 695 590 264 695
High Income (ARTFX) High Yield Bond 620 534 620
Developing World (ARTYX) Diversified Emerging Mkts 695 590 695 Bronze
Focus (ARTTX) Large Growth 1229 1229
Morningstar ratings are based on risk-adjusted returns, are historical and do not represent future results. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-year, five-year, and ten-year (if applicable) Morningstar Ratings metrics. 

The Morningstar Analyst Rating scale ranges from Gold to Negative, with Gold being the highest rating and Negative being the lowest rating. Funds which have not been rated by Morningstar or have been rated Negative or Neutral are not rated above.The Morningstar Analyst Rating™ is not a credit or risk rating. It is a subjective evaluation performed by Morningstar’s manager research group, which consists of various Morningstar, Inc. subsidiaries (“Manager Research Group”). In the United States, that subsidiary is Morningstar Research Services LLC, which is registered with and governed by the U.S. Securities and Exchange Commission. The Manager Research Group evaluates funds based on five key pillars, which are process, performance, people, parent, and price. The Manager Research Group uses this five-pillar evaluation to determine how they believe funds are likely to perform relative to a benchmark over the long term on a risk adjusted basis. They consider quantitative and qualitative factors in their research.  View Important Disclosures below for further details. 

Growth Sustainable Emerging Markets
Global Equity Credit
U.S. Value Developing World
International Value Antero Peak Group
Global Value
Lipper Percentile/Ranking
30 September 2020
Team Fund Name Category 1 Yr 3 Yr 5 Yr 10 Yr Inception
Global Opportunities (ARTRX) Global Multi-Cap Growth
19th
38/201
15th
25/172
14th
18/133
6th
4/74
7th
4/62
Global Discovery (APFDX) Global Small-/Mid-Cap
6th
8/140
1st
1/120
1st
1/120
Mid Cap (ARTMX) Multi-Cap Growth
12th
47/409
12th
44/376
26th
86/342
18th
46/267
2nd
1/62
Small Cap (ARTSX) Small-Cap Growth
10th
64/648
6th
35/602
7th
36/523
2nd
4/391
36th
19/53
Global Equity (ARTHX) Global Multi-Cap Growth
49th
98/201
25th
42/172
44th
58/133
32nd
24/74
24th
17/71
International (ARTIX) International Large-Cap Growth
86th
228/265
50th
123/246
59th
118/202
31st
46/148
5th
1/22
International Small-Mid (ARTJX) International Small/Mid-Cap Growth
12th
25/218
5th
9/193
27th
41/151
29th
27/95
14th
5/36
Value (ARTLX) Multi-Cap Value
11th
61/586
30th
158/542
5th
20/455
38th
123/331
25th
62/249
Mid Cap Value (ARTQX) Mid-Cap Value
40th
59/149
50th
70/139
50th
62/124
64th
60/93
10th
2/21
International Value (ARTKX) International Large-Cap Core
79th
89/113
74th
68/91
42nd
36/85
8th
5/64
4th
1/30
Global Value (ARTGX) Global Multi-Cap Value
65th
88/136
69th
89/129
50th
51/101
12th
7/62
3rd
1/46
Sustainable Emerging Markets (ARTZX) Emerging Markets
56th
427/762
41st
272/665
19th
104/570
69th
186/271
68th
133/196
High Income (ARTFX) High Yield
6th
28/505
6th
25/456
3rd
11/388
2nd
4/353
Developing World (ARTYX) Emerging Markets
1st
3/762
1st
3/665
1st
3/570
1st
3/549
Focus (ARTTX) Global Large-Cap Growth
46th
85/184
6th
9/169
5th
7/164
Lipper rankings are based on total return of a fund’s stated share class, are historical and do not represent future results. The number of funds in the category may include several share classes of the same mutual fund which may have a material impact on the fund's ranking within the category. View Important Disclosures for Fund Inceptions. 

Category rankings modified by Artisan Partners to show where Artisan Mid Cap Value Fund would have ranked if Lipper Inc. had included it in the Mid-Cap Value category. Lipper Inc. classified the Fund in the Mid-Cap Core category and in that category, the Fund ranked as follows (#Rank/Fund in Category): 1 Yr (254/340), 3 Yr (249/306), 5 Yr (181/255), 10 Yr (143/178) and since inception (13/69). 

Past performance does not guarantee future results. View Fund Performance.  
Mutual fund investing is subject to risks. Investment returns and principal values will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. 

Fund Inception dates: Artisan Developing World Fund 29 June 2015, Artisan Focus Fund 24 Apr 2017, Artisan Global Discovery Fund 21 Aug 2017, Artisan Global Equity Fund 29 Mar 2010,  Artisan Global Opportunities Fund 22 Sep 2008, Artisan Global Value Fund 10 Dec 2007, Artisan High Income Fund 19 Mar 2014, Artisan International Fund 28 Dec 1995, Artisan International Small Cap Fund 21 Dec 2001, Artisan International Value Fund 23 Sep 2002, Artisan Mid Cap Fund 27 Jun 1997, Artisan Mid Cap Value Fund 28 Mar 2001, Artisan Small Cap Fund 28 Mar 1995, Artisan Sustainable Emerging Markets Fund 2 Jun 2008, and Artisan Value Fund 27 Mar 2006.

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

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The Morningstar Analyst Rating (i) should not be used as the sole basis in evaluating a fund, (ii) involves unknown risks and uncertainties which may cause the Manager Research Group’s expectations not to occur or to differ significantly from what they expected, and (iii) should not be considered an offer or solicitation to buy or sell the fund. For actively managed strategies, people and process each receive a 45% weighting in their analysis, while parent receives a 10% weighting. Performance has no explicit weight as it is incorporated into the analysis of people and process; price at the share-class level (where applicable) is directly subtracted from an expected gross alpha estimate derived from the analysis of the other pillars. The impact of the weighted pillar scores for people, process and parent on the final Analyst Rating is further modified by a measure of the dispersion of historical alphas among relevant peers. The Analyst Rating scale is Gold, Silver, Bronze, Neutral, and Negative. For active funds, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that an active fund will be able to deliver positive alpha net of fees relative to the standard benchmark index assigned to the Morningstar category. The level of the rating relates to the level of expected positive net alpha relative to Morningstar category peers. Analyst Ratings ultimately reflect the Manager Research Group’s overall assessment, are overseen by an Analyst Rating Committee, and are continuously monitored and reevaluated at least every 14 months. Click here  for more detailed information about Morningstar’s Analyst Rating, including its methodology.