San Francisco, California. Artisan Developing World Fund recently marked its three-year anniversary. The Fund is managed by its founding Portfolio Manager Lewis Kaufman. The Fund is designed to capitalize on low-penetration opportunities in the emerging markets, while implementing a forward-looking construct for managing risk. Commented Kaufman, “Our process has continued to emphasize a core set of investment principles: domestic demand rather than domicile, a desire to limit capital impairment, business models as value drivers, a repeatable currency framework, and the importance of multinationals in delivering an emerging markets outcome. Collectively, these concepts result in a portfolio that is organic in thought and that provides a framework for navigating whatever the future might have in store.” The Fund had total net assets of $2.4bn as of June 30, 2018.

As of 30 June 2018

Source: Artisan Partners/MSCI. Returns for periods less than one year are not annualized. ¹See prospectus for further details. Fund inception: 29 Jun 2015.

Past performance does not guarantee and is not a reliable indicator of future results. 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. Current performance may be lower or higher than that shown. Call 800.344.1770 for current to most recent month-end performance. Performance may reflect agreements to limit a Fund’s expenses, which would reduce performance if not in effect.

International investments 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. Such risks include new and rapidly changing political and economic structures, which may cause instability; underdeveloped securities markets; and higher likelihood of high levels of inflation, deflation or currency devaluations. Securities of small- and medium-sized companies tend to have a shorter history of operations, be more volatile and less liquid and may have underperformed securities of large companies during some periods.

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