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
31 August 2020
Team Fund Name Category 3 Yr 5 Yr 10 Yr Overall Analyst Rating
Global Opportunities (ARTRX) World Large Stock 725 610 359 725 Silver
Global Discovery (APFDX) World Large Stock 725 725
Mid Cap (ARTMX) Mid-Cap Growth 559 502 381 559 Silver
Small Cap (ARTSX) Small Growth 577 512 382 577 Silver
Global Equity (ARTHX) World Large Stock 725 610 359 725 Bronze
International (ARTIX) Foreign Large Growth 413 335 242 413 Bronze
International Small-Mid (ARTJX) Foreign Small/Mid Growth 119 92 62 119 Bronze
Value (ARTLX) Large Value 1113 981 706 1113 Bronze
Mid Cap Value (ARTQX) Mid-Cap Value 386 346 246 386 Bronze
International Value (ARTKX) Foreign Large Blend 643 534 363 643 Silver
Global Value (ARTGX) World Large Stock 725 610 359 725 Silver
Sustainable Emerging Markets (ARTZX) Diversified Emerging Mkts 695 579 257 695
High Income (ARTFX) High Yield Bond 623 535 623
Developing World (ARTYX) Diversified Emerging Mkts 695 579 695 Bronze
Focus (ARTTX) Large Growth 1228 1228
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 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 (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.