Artisan Small Cap Fund employs a bottom-up investment process to construct a diversified portfolio of U.S. small-cap growth companies.
The Fund's investment process focuses on two distinct areas:
Security Selection - The team's investment process begins by identifying companies that possess franchise characteristics (strong competitive positions), selling at attractive valuations and benefiting from an accelerating profit cycle. The investment team looks for companies that are well positioned for long-term growth, driven by demand for their products and services, at an early enough stage in their profit cycle to benefit from the increased cash flows produced by the profit cycle.
Capital Allocation - Based on the investment team's fundamental analysis of a company's profit cycle, portfolio holdings develop through three stages. GardenSM investments are small positions in the early part of their profit cycle that will warrant a more sizeable allocation once their profit cycle accelerates. CropSM investments are positions that are being increased to a full weight because they are moving through the strongest part of their profit cycle. HarvestSM investments are positions that are being reduced as they near the team's estimate of full valuation or their profit cycle begins to decelerate.
The investment team believes that adhering to this process increases the likelihood of delivering upside participation with downside protection.
The team will not initiate a position in a company unless it has a market capitalization below $2.5 billion.
| Period |
Rating |
Funds in Category |
| 3 Yr |
|
667 |
| 5 Yr |
|
553 |
| 10 Yr |
|
318 |
| Overall Rating |
|
667 |
| Ratings are based on risk-adjusted returns and are historical and do not represent future results. The Fund is rated within Morningstar’s Small Growth Category. 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. |
| Period |
Rank |
Funds in Category |
| 1 Yr |
#122 |
539 |
| 3 Yr |
#300 |
471 |
| 5 Yr |
#272 |
396 |
| 10 Yr |
#42 |
216 |
| Since Inception 3/28/95 |
#39 |
59 |
Rankings are based on total return and are historical and do not represent future results. The Fund is ranked within Lipper Inc.'s Small-Cap Growth category.
*Lipper ranking inception date: 3/28/95. |
Morningstar data© 2009, Morningstar, Inc. All Rights Reserved. Morningstar data contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ which is based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance, including the effects of sales charges, loads, and redemption fees, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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.
| Period |
Rating |
Funds in Category |
| 3 Yr |
|
667 |
| 5 Yr |
|
553 |
| 10 Yr |
|
318 |
| Overall Rating |
|
667 |
| Ratings are based on risk-adjusted returns and are historical and do not represent future results. The Fund is rated within Morningstar’s Small Growth Category. 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. |
| Period |
Rank |
Funds in Category |
| 1 Yr |
#122 |
539 |
| 3 Yr |
#300 |
471 |
| 5 Yr |
#272 |
396 |
| 10 Yr |
#42 |
216 |
| Since Inception 3/28/95 |
#39 |
59 |
Rankings are based on total return and are historical and do not represent future results. The Fund is ranked within Lipper Inc.'s Small-Cap Growth category.
*Lipper ranking inception date: 3/28/95. |
Morningstar data© 2009, Morningstar, Inc. All Rights Reserved. Morningstar data contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ which is based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance, including the effects of sales charges, loads, and redemption fees, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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.
| Period |
Rating |
Funds in Category |
| 3 Yr |
|
667 |
| 5 Yr |
|
553 |
| 10 Yr |
|
318 |
| Overall Rating |
|
667 |
| Ratings are based on risk-adjusted returns and are historical and do not represent future results. The Fund is rated within Morningstar’s Small Growth Category. 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. |
| Period |
Rank |
Funds in Category |
| 1 Yr |
#122 |
539 |
| 3 Yr |
#300 |
471 |
| 5 Yr |
#272 |
396 |
| 10 Yr |
#42 |
216 |
| Since Inception 3/28/95 |
#39 |
59 |
Rankings are based on total return and are historical and do not represent future results. The Fund is ranked within Lipper Inc.'s Small-Cap Growth category.
*Lipper ranking inception date: 3/28/95. |
Morningstar data© 2009, Morningstar, Inc. All Rights Reserved. Morningstar data contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ which is based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance, including the effects of sales charges, loads, and redemption fees, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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.
PERFORMANCE as of 12/31/09
PERFORMANCE as of 2/28/10
PERFORMANCE as of 3/17/10
| Period |
Rating |
Funds in Category |
| 3 Yr |
|
667 |
| 5 Yr |
|
553 |
| 10 Yr |
|
318 |
| Overall Rating |
|
667 |
| Ratings are based on risk-adjusted returns and are historical and do not represent future results. The Fund is rated within Morningstar’s Small Growth Category. 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. |
| Period |
Rank |
Funds in Category |
| 1 Yr |
#122 |
539 |
| 3 Yr |
#300 |
471 |
| 5 Yr |
#272 |
396 |
| 10 Yr |
#42 |
216 |
| Since Inception 3/28/95 |
#39 |
59 |
Rankings are based on total return and are historical and do not represent future results. The Fund is ranked within Lipper Inc.'s Small-Cap Growth category.
*Lipper ranking inception date: 3/28/95. |
Morningstar data© 2009, Morningstar, Inc. All Rights Reserved. Morningstar data contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ which is based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance, including the effects of sales charges, loads, and redemption fees, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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.
| $ in billions |
Fund |
R2000G2 |
|
1.4 +
|
49.9
|
27.3
|
|
1.0 – 1.4
|
22.4
|
22.5
|
|
0.7 – 1.0
|
15.3
|
14.3
|
|
0.4 – 0.7
|
11.3
|
19.7
|
|
0 – 0.4
|
1.1
|
16.2
|
| Total |
100.0% |
100.0% |
| Ares Capital Corp |
3.2 |
| LKQ Corp |
2.9 |
| GSI Commerce Inc |
2.8 |
| Waste Connections Inc |
2.8 |
| Atheros Communications Inc |
2.5 |
| Euronet Worldwide Inc |
2.3 |
| PSS World Medical Inc |
2.3 |
| CommVault Systems Inc |
2.2 |
| Informatica Corp |
2.2 |
| Phase Forward Inc |
2.0 |
| Total |
25.2% |
|
Holdings: Current | Historical
|
|
For the purpose of determining the Fund's holdings, securities of the same issuer are aggregated to determine the weight in the Fund.
|
| Distribution Information |
Select Year
|
| Median Market Cap3 |
$1.3 billion |
| Weighted Avg. Growth Rate (3-5 YR)3 |
18.6% |
| Weighted Avg. P/E (FY1)3 |
17.3X |
| Weighted Avg. P/E (FY2)3 |
14.5X |
| Number of Holdings |
74 |
| Portfolio Turnover Rate4 |
80.51%
|
| Cash (% of total porfolio) |
2.3% |
| Total Net Assets |
$362 million
|
| |
Fund |
|
Consumer Discretionary
|
13.1
|
|
Consumer Staples
|
2.0
|
|
Energy
|
6.8
|
|
Financials
|
8.3
|
|
Health Care
|
16.1
|
|
Industrials
|
19.8
|
|
Information Technology
|
31.2
|
|
Materials
|
1.0
|
|
Telecommunication Services
|
0.0
|
|
Utilities
|
1.7
|
| Total |
100.0% |
1 Source: Artisan Partners/FactSet/Russell
2 Russell 2000® Growth Index
3 Source: Artisan Partners/FactSet
4 Audited. For the 12 months ended 9/30/09.
5 Source: Artisan Partners/FactSet(GICS)
|
| $ in billions |
Fund |
R2000G2 |
|
1.4 +
|
50.8
|
27.6
|
|
1.0 – 1.4
|
24.8
|
19.4
|
|
0.7 – 1.0
|
13.0
|
18.0
|
|
0.4 – 0.7
|
10.1
|
19.2
|
|
0 – 0.4
|
1.3
|
15.8
|
| Total |
100.0% |
100.0% |
| Ares Capital Corp |
3.0 |
| Waste Connections Inc |
2.7 |
| Euronet Worldwide Inc |
2.3 |
| GSI Commerce Inc |
2.2 |
| PSS World Medical Inc |
2.2 |
| Phase Forward Inc |
2.2 |
| LKQ Corp |
2.1 |
| Atheros Communications Inc |
1.9 |
| Informatica Corp |
1.9 |
| CommVault Systems Inc |
1.9 |
| Total |
22.4% |
|
Holdings: Current | Historical
|
|
For the purpose of determining the Fund's holdings, securities of the same issuer are aggregated to determine the weight in the Fund.
|
| Distribution Information |
Select Year
|
| Median Market Cap3 |
$1.4 billion |
| Weighted Avg. Growth Rate (3-5 YR)3 |
17.3% |
| Weighted Avg. P/E (FY1)3 |
18.9X |
| Weighted Avg. P/E (FY2)3 |
16.8X |
| Number of Holdings |
75 |
| Portfolio Turnover Rate4 |
80.51%
|
| Cash (% of total porfolio) |
5.0% |
| Total Net Assets |
$376 million
|
| |
Fund |
|
Consumer Discretionary
|
12.0
|
|
Consumer Staples
|
3.3
|
|
Energy
|
6.9
|
|
Financials
|
7.5
|
|
Health Care
|
14.9
|
|
Industrials
|
21.6
|
|
Information Technology
|
31.2
|
|
Materials
|
1.0
|
|
Telecommunication Services
|
0.0
|
|
Utilities
|
1.6
|
| Total |
100.0% |
1 Source: Artisan Partners/FactSet/Russell
2 Russell 2000® Growth Index
3 Source: Artisan Partners/FactSet
4 Audited. For the 12 months ended 9/30/09.
5 Source: Artisan Partners/FactSet(GICS)
|
Craigh A. Cepukenas, CFA
Craigh A. Cepukenas, CFA is a Managing Director of Artisan and portfolio co-manager of Artisan Small Cap Fund and the firm's U.S. small-cap growth separate account portfolios. Prior to joining Artisan in November 1995 as an analyst, Mr. Cepukenas was an equity research associate at Stein Roe & Farnham in Chicago, where he began his career in 1989.
Mr. Cepukenas holds a BS in Economics from the University of Wisconsin-Madison and an MBA from The University of Chicago Booth School of Business.
Andrew C. Stephens
Andrew C. Stephens is a Managing Director of Artisan and portfolio co-manager for Artisan's U.S. growth Funds and separate account portfolios. Prior to joining Artisan, Mr. Stephens was co-manager of the Strong Asset Allocation Fund at Strong Capital Management from February 1993 through March 1997. In addition, Mr. Stephens was a senior research analyst for the Strong Common Stock Fund and Strong Opportunity Fund. He began his career at Strong Capital Management and joined the investment department there in 1990.
Mr. Stephens holds a BS in Economics from the University of Wisconsin-Madison.
James D. Hamel, CFA
James D. Hamel, CFA is a Managing Director of Artisan and portfolio co-manager for Artisan's U.S. growth Funds and separate account portfolios. Prior to joining Artisan, Mr. Hamel was a financial associate, cost analyst and operations manager of Kimberly-Clark Corporation from March 1990 to May 1997. He began his career at Carlson, Posten & Associates in Minneapolis, Minnesota.
Mr. Hamel holds a BS in Finance from the University of Minnesota-Minneapolis where he was a three-time Academic All-American.
Matthew H. Kamm, CFA
Matthew H. Kamm, CFA is an associate portfolio manager for Artisan's U.S. growth Funds and separate account portfolios. Prior to joining Artisan, Mr. Kamm was an associate equity research analyst at Banc of America Securities. Prior to that, he was a senior operations analyst for NYU Medical Center in New York, NY.
Mr. Kamm holds a BA in Public Policy from Duke University and an MBA in Finance and Operations Management from New York University.
Important Fund Risk Disclosure
Value stocks may underperform other asset types during a given period. The Fund may invest a significant portion of its assets in international investments, which involve special risks, including currency fluctuation, lower liquidity, different accounting methods and economic and political systems, and higher transaction costs. These risks typically are greater in emerging markets. The Fund may also invest a significant portion of its assets in the stocks of medium-sized companies, which tend to be more volatile and less liquid than those of large companies, have underperformed the stocks of larger companies during some periods and tend to have a shorter history of operations than larger companies. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.
Expense Ratio Disclosure
The Fund's direct operating expenses are 1.26%, which is reflected in the Fund's "Financial Highlights" in the statutory prospectus and financial statements. The expense ratio noted above includes "Acquired Fund Fees and Expenses," which are indirect expenses the Fund may incur from investing in an investment company (acquired fund); such indirect expenses are not paid from the fund's assets but are reflected in the return realized by the fund on its investment in the acquired funds.
Important Index Disclosure
An investment can not be made directly into an index.
The Russell 2000® Index is an unmanaged, market-weighted index of about 2,000 small U.S. companies. Its returns include net reinvested dividends but, unlike the Fund returns, do not reflect the payment of sales commissions or other expenses incurred in the purchase or sale of the securities included in the Index.
The Russell 2000® Growth Index is an unmanaged, market-weighted index of those companies included in the Russell 2000® Index, an index of about 2,000 small U.S. companies, with higher price-to-book ratios and higher forecasted growth values. Its returns include net reinvested dividends but, unlike Fund returns, do not reflect the payment of sales commissions or other expenses incurred in the purchase or sale of the securities included in the Index.
Russell Investment Group is the source and owner of the Russell Index data contained or reflected in this material and all trademarks and copyrights related thereto. The presentation may contain confidential information and unauthorized use, disclosure, copying, dissemination or redistribution is strictly prohibited. This is a presentation of Artisan Partners Limited Partnership or Artisan Distributors LLC. Russell Investment Group is not responsible for the formatting or configuration of this material or for any inaccuracy in Artisan Partners’ or Artisan Distributors’ presentation thereof.
The Lipper Small-Cap Core Funds Index is an unmanaged index that reflects the net asset value weighted return of 30 of the largest small-cap core funds tracked by Lipper, including Artisan Small Cap Fund. Its returns include net reinvested dividends.
The Lipper Small-Cap Growth Funds Index is an unmanaged index that reflects the net asset value weighted return of 30 of the largest small-cap growth funds tracked by Lipper. Its returns include net reinvested dividends.
Data/Statistics Disclosure
The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (“S&P”) and is licensed for use by Artisan Partners Limited Partnership. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any of such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.
Russell Investment Group is the source and owner of the Russell Index data contained or reflected in this material and all trademarks and copyrights related thereto. The presentation may contain confidential information and unauthorized use, disclosure, copying, dissemination or redistribution is strictly prohibited. This is a presentation of Artisan Distributors LLC. Russell Investment Group is not responsible for the formatting or configuration of this material or for any inaccuracy in Artisan Distributors’ presentation thereof.
Market Capitalization is calculated by FactSet using the price as of the most recent month-end multiplied by the number of shares outstanding as shown in the financial statements of the issuer.
The Median Market Cap provides a measure of the market capitalization value of the companies in a portfolio. Equal numbers of companies in the portfolio have market capitalizations higher and lower than the median.
The Weighted Average Growth Rate (the annual rate at which a company's earnings is expected to grow) is the average of the 3-5 year forecasted growth rates of each company in the portfolio, weighted by the size of the company's position in the portfolio.
The Weighted Harmonic Average P/E (a measure of how expensive a stock is) is the harmonic average, which measures the price/earnings ratio of the Fund’s entire portfolio, excluding negative earners, weighted by the size of the company’s position within the portfolio. The earnings figures used for FY1 and FY2 are estimates for the current unreported fiscal year and for the next unreported fiscal year, respectively.
In general, the Turnover Ratio is calculated by dividing the lesser of purchases or sales of portfolio securities for the fiscal year, by the monthly average of the value of portfolio securities owned by the Fund during the fiscal year.
Portfolio characteristics are intended to provide a general view of the entire portfolio, or Index, at a certain point in time. Characteristics are calculated using information obtained from various data sources. Artisan Partners excludes outliers when calculating portfolio characteristics. If information is unavailable for a particular security Artisan may use data from a related security to calculate portfolio characteristics.
Important Fund Risk Disclosure
Value stocks may underperform other asset types during a given period. The Fund may invest a significant portion of its assets in international investments, which involve special risks, including currency fluctuation, lower liquidity, different accounting methods and economic and political systems, and higher transaction costs. These risks typically are greater in emerging markets. The Fund may also invest a significant portion of its assets in the stocks of medium-sized companies, which tend to be more volatile and less liquid than those of large companies, have underperformed the stocks of larger companies during some periods and tend to have a shorter history of operations than larger companies. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.
Artisan Small Cap Fund
Select one of the links below to view or download a specific Portfolio Holding.
2009
2008
2007
2006
2005
2004
|
|
CLOSE
|
Important Index Disclosure
An investment can not be made directly into an index.
The
Russell 2000® Index is an unmanaged, market-weighted index of about 2,000 small U.S. companies. Its returns include net reinvested dividends but, unlike the Fund returns, do not reflect the payment of sales commissions or other expenses incurred in the purchase or sale of the securities included in the Index.
The
Russell 2000® Growth Index is an unmanaged, market-weighted index of those companies included in the Russell 2000
® Index, an index of about 2,000 small U.S. companies, with higher price-to-book ratios and higher forecasted growth values. Its returns include net reinvested dividends but, unlike Fund returns, do not reflect the payment of sales commissions or other expenses incurred in the purchase or sale of the securities included in the Index.
Russell Investment Group is the source and owner of the Russell Index data contained or reflected in this material and all trademarks and copyrights related thereto. The presentation may contain confidential information and unauthorized use, disclosure, copying, dissemination or redistribution is strictly prohibited. This is a presentation of Artisan Partners Limited Partnership or Artisan Distributors LLC. Russell Investment Group is not responsible for the formatting or configuration of this material or for any inaccuracy in Artisan Partners’ or Artisan Distributors’ presentation thereof.
The
Lipper Small-Cap Core Funds Index is an unmanaged index that reflects the net asset value weighted return of 30 of the largest small-cap core funds tracked by Lipper, including Artisan Small Cap Fund. Its returns include net reinvested dividends.
The
Lipper Small-Cap Growth Funds Index is an unmanaged index that reflects the net asset value weighted return of 30 of the largest small-cap growth funds tracked by Lipper. Its returns include net reinvested dividends.
Data/Statistics Disclosure
The
Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (“S&P”) and is licensed for use by Artisan Partners Limited Partnership. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any of such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.
Russell Investment Group is the source and owner of the Russell Index data contained or reflected in this material and all trademarks and copyrights related thereto. The presentation may contain confidential information and unauthorized use, disclosure, copying, dissemination or redistribution is strictly prohibited. This is a presentation of Artisan Distributors LLC. Russell Investment Group is not responsible for the formatting or configuration of this material or for any inaccuracy in Artisan Distributors’ presentation thereof.Market Capitalization is calculated by FactSet using the price as of the most recent month-end multiplied by the number of shares outstanding as shown in the financial statements of the issuer.
The
Median Market Cap provides a measure of the market capitalization value of the companies in a portfolio. Equal numbers of companies in the portfolio have market capitalizations higher and lower than the median.
The
Weighted Average Growth Rate (the annual rate at which a company's earnings is expected to grow) is the average of the 3-5 year forecasted growth rates of each company in the portfolio, weighted by the size of the company's position in the portfolio.
The
Weighted Harmonic Average P/E (a measure of how expensive a stock is) is the harmonic average, which measures the price/earnings ratio of the Fund’s entire portfolio, excluding negative earners, weighted by the size of the company’s position within the portfolio. The earnings figures used for FY1 and FY2 are estimates for the current unreported fiscal year and for the next unreported fiscal year, respectively.
In general, the
Turnover Ratio is calculated by dividing the lesser of purchases or sales of portfolio securities for the fiscal year, by the monthly average of the value of portfolio securities owned by the Fund during the fiscal year.
Portfolio characteristics are intended to provide a general view of the entire portfolio, or Index, at a certain point in time. Characteristics are calculated using information obtained from various data sources. Artisan Partners excludes outliers when calculating portfolio characteristics. If information is unavailable for a particular security Artisan may use data from a related security to calculate portfolio characteristics.
Historical Distributions (all funds)
Select one of the links below to view and/or print a specific year.
Expense Ratio Disclosure
The Fund's direct operating expenses are 1.26%, which is reflected in the Fund's "Financial Highlights" in the statutory prospectus and financial statements. The expense ratio noted above includes "Acquired Fund Fees and Expenses," which are indirect expenses the Fund may incur from investing in an investment company (acquired fund); such indirect expenses are not paid from the fund's assets but are reflected in the return realized by the fund on its investment in the acquired funds.
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download it for free or call 800.344.1770.
Online Application ConsentBy clicking
I Accept, you consent to receive the Artisan Funds' prospectus, privacy policy and account application electronically. You also agree to read and agree to the terms of these documents before investing. Your consent applies only to this request. If you request additional information you may be required to consent again.
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download it for free or call 800.344.1770.
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