Overview

From left to right: Justin Bandy, Daniel O'Keefe, Michael McKinnon

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 14 years of experience in global markets.
  • The investment team is located in Chicago and 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

 

  • Daniel J. O'Keefe
  • Portfolio Manager
  • Global Value Fund
  • 26Years Investment
    Experience

Daniel J. O'Keefe is a managing director of Artisan Partners and founding partner of the Artisan Partners Global Value Team. He is lead portfolio manager of the Artisan Global Value Fund, which he has managed since its inception in December 2007. Mr. O'Keefe also was co-portfolio manager for the International Value Fund from October 2006 through September 2018. Prior to becoming portfolio manager in 2006, Mr. O'Keefe was a research analyst for the Artisan International Value Fund.

During this time, the 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 and won the award in 2008 for Artisan International Value and in 2013 for Artisan Global Value and Artisan International Value Funds.

Prior to joining Artisan Partners in May 2002, Mr. O'Keefe was an analyst in international equities at Harris Associates LP from July 1997 through May 2002. Preceding his days at Harris Associates, he was an associate in mergers and acquisitions at BancAmerica Securities, and was an analyst with Morningstar, Inc.

Mr. O'Keefe holds a bachelor's degree in philosophy from Northwestern University.

Morningstar: Established in 1988, the Morningstar Fund Manager of the Year award recognizes portfolio managers who demonstrate excellent investment skill and the courage to differ from the consensus to benefit investors. To qualify for the award, managers’ funds must have not only posted impressive returns for the year, but the managers also must have a record of delivering outstanding long-term risk-adjusted performance and of aligning their interests with shareholders’. Beginning in 2012, nominated funds must be Morningstar Medalists—a fund that has garnered a Morningstar Analyst Rating™ of Gold, Silver or Bronze. The Fund Manager of the Year award winners are chosen based on Morningstar’s proprietary research and in-depth qualitative evaluation by its manager research analysts.

Morningstar Inc.’s awards are based on qualitative evaluation and research, thus subjective in nature and should not be used as the sole basis for investment decisions. Morningstar’s awards are not guarantees of a fund’s future investment performance. Morningstar, Inc. does not sponsor, issue, sell or promote any open-end mutual funds including the Artisan Partners Funds.

  • Justin V. Bandy, CFA
  • Co-Portfolio Manager
  • Global Value Fund
  • 15Years Investment
    Experience

Justin V. Bandy, CFA, is a co-portfolio manager on the Artisan Partners Global Value Team. In this role, he oversees the research process and conducts fundamental research as a generalist.

Prior to joining Artisan Partners in October 2009, Mr. Bandy was an equity research associate for KeyBanc Capital Markets, where he conducted research on mid-market software companies. Earlier in his career, he was a retail banking research analyst with the Lafferty Group/VRL Knowledgebank. Mr. Bandy holds a bachelor's degree in history and a bachelor's degree in geology-biology from Brown University.

  • Michael J. McKinnon, CFA
  • Co-Portfolio Manager
  • Global Value Fund
  • 16Years Investment
    Experience

Michael J. McKinnon, CFA, is a co-portfolio manager on the Artisan Partners Global Value Team. In this role, he oversees the research process and conducts fundamental research as a generalist.

Prior to joining Artisan Partners in February 2010, Mr. McKinnon was a securities analyst at Legg Mason Capital Management for all LMCM funds. Earlier in his career, he was a research analyst for Himalaya Capital, a long/short equity fund affiliated with Tiger Management, and a senior consultant at Arthur Andersen LLP. Mr. McKinnon holds a bachelor's degree in economics and Asian studies from Tufts University, a master's degree in public administration from Harvard Kennedy School and a master's degree in business administration from Columbia Business School.