Morningstar Ratings

Growth Sustainable Emerging Markets
Global Equity Credit
U.S. Value Developing World
International Value Thematic
Global Value
Ratings/Funds in Category
30 June 2020
Team Fund Name Category 3 Yr 5 Yr 10 Yr Overall Analyst Rating
Global Opportunities (ARTRX) World Large Stock 761 626 367 761 Silver
Mid Cap (ARTMX) Mid-Cap Growth 558 500 381 558 Silver
Small Cap (ARTSX) Small Growth 577 508 377 577 Silver
Global Equity (ARTHX) World Large Stock 761 626 367 761 Bronze
International (ARTIX) Foreign Large Growth 421 344 246 421 Bronze
International Small-Mid (ARTJX) Foreign Small/Mid Growth 118 92 62 118 Bronze
Value (ARTLX) Large Value 1109 970 703 1109 Bronze
Mid Cap Value (ARTQX) Mid-Cap Value 386 346 245 386 Bronze
International Value (ARTKX) Foreign Large Blend 648 519 364 648 Silver
Global Value (ARTGX) World Large Stock 761 626 367 761 Silver
Sustainable Emerging Markets (ARTZX) Diversified Emerging Mkts 704 595 246 704
High Income (ARTFX) High Yield Bond 639 546 639 Neutral
Developing World (ARTYX) Diversified Emerging Mkts 704 595 704 Bronze
Focus (ARTTX) Large Growth 1237 1237
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. The Morningstar Analyst Rating is a subjective evaluation performed by the mutual fund analysts of Morningstar. The Rating should not be used as the sole basis in evaluating a mutual fund. Morningstar Analyst Ratings are based on Morningstar’s current expectations about future events; therefore, in no way does Morningstar represent ratings as a guarantee nor should they be viewed by an investor as such. Morningstar Analyst Ratings involve unknown risks and uncertainties which may cause Morningstar’s expectations not to occur or to differ significantly from what is described. View Important Disclosures below for further details. 

Growth Sustainable Emerging Markets
Global Equity Credit
U.S. Value Developing World
International Value Thematic
Global Value
Lipper Percentile/Ranking
30 June 2020
Team Fund Name Category 1 Yr 3 Yr 5 Yr 10 Yr Inception
Global Opportunities (ARTRX) Global Multi-Cap Growth
20th
42/219
16th
30/189
14th
20/146
6th
5/87
15th
10/70
Global Discovery (APFDX) Global Small-/Mid-Cap
4th
5/138
1st
1/120
Mid Cap (ARTMX) Multi-Cap Growth
11th
44/407
18th
68/378
20th
67/341
13th
34/265
2nd
1/63
Small Cap (ARTSX) Small-Cap Growth
5th
30/622
7th
38/574
5th
21/494
2nd
4/362
38th
19/49
Global Equity (ARTHX) Global Multi-Cap Growth
53rd
116/219
17th
32/189
48th
70/146
22nd
19/87
19th
16/84
International (ARTIX) International Large-Cap Growth
75th
167/223
41st
85/207
59th
100/171
18th
22/124
5th
1/23
International Small-Mid (ARTJX) International Small/Mid-Cap Growth
12th
25/211
6th
10/187
28th
41/148
27th
26/97
14th
5/37
Value (ARTLX) Multi-Cap Value
13th
65/526
35th
165/475
20th
78/403
46th
134/296
25th
55/223
Mid Cap Value (ARTQX) Mid-Cap Value
63rd
105/167
55th
85/154
47th
63/134
70th
72/102
12th
3/24
International Value (ARTKX) International Large-Cap Core
82nd
82/100
74th
62/83
21st
15/72
9th
5/58
4th
1/25
Global Value (ARTGX) Global Multi-Cap Value
84th
117/139
73rd
94/129
54th
51/94
11th
6/56
3rd
1/44
Sustainable Emerging Markets (ARTZX) Emerging Markets
61st
476/785
45th
300/679
23rd
131/574
77th
194/252
72nd
142/197
High Income (ARTFX) High Yield
9th
45/510
6th
25/457
2nd
6/393
2nd
5/358
Developing World (ARTYX) Emerging Markets
1st
3/785
1st
3/679
1st
3/574
1st
3/572
Focus (ARTTX) Global Large-Cap Growth
21st
35/172
4th
5/157
2nd
3/153
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 (328/355), 3 Yr (301/330), 5 Yr (227/263), 10 Yr (170/191) and since inception (14/72). 

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.  These risks are discussed in the prospectus. Please read it carefully before you invest or send money. 

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 is not a credit or risk rating. It is a subjective evaluation performed by the mutual fund analysts of Morningstar, Inc. Morningstar evaluates funds based on five key pillars, which are process, performance, people, parent, and price. Morningstar's analysts use this five pillar evaluation to identify funds they believe are more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors in their research, and the weighting of each pillar may vary. The Analyst Rating ultimately reflects the analyst's overall assessment and is overseen by Morningstar's Analyst Rating Committee. The approach serves not as a formula but as a framework to ensure consistency across Morningstar's global coverage universe.

The Analyst Rating scale ranges from Gold to Negative, with Gold being the highest rating and Negative being the lowest rating. A fund with a "Gold" rating distinguishes itself across the five pillars and has garnered the analysts' highest level of conviction. A fund with a 'Silver' rating has notable advantages across several, but perhaps not all, of the five pillars-strengths that give the analysts a high level of conviction. A "Bronze"-rated fund has advantages that outweigh the disadvantages across the five pillars, with sufficient level of analyst conviction to warrant a positive rating. A fund with a 'Neutral' rating isn't seriously flawed across the five pillars, nor does it distinguish itself very positively. A "Negative" rated fund is flawed in at least one if not more pillars and is considered an inferior offering to its peers. Analyst Ratings are reevaluated at least every 14 months. View detailed information about Morningstar’s Analyst Rating, including its methodology .