This recording represents the views of the Artisan Partners Developing World Portfolio Manager Lewis Kaufman as of 22 May 2024 and do not necessarily represent those of Artisan Partners. The views and opinions expressed are based on current market conditions, which will fluctuate, and those views are subject to change without notice. While the information contained herein is believed to be reliable, there is no guarantee to the accuracy or completeness of any statement in the discussion. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation.

Past performance does not guarantee future results.

Current and future portfolio holdings are subject to risk. The value of portfolio securities selected by the investment team may rise or fall in response to company, market, economic, political, regulatory or other news, at times greater than the market or benchmark index. 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 and less developed markets, including frontier 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.

The discussion of portfolio holdings does not constitute a recommendation of any individual security. For the purpose of determining the portfolio’s holdings, securities of the same issuer are aggregated to determine the weight in the Fund. The holdings mentioned comprised the following percentages of the Fund’s total net assets as of 30 Jun 2024: Kweichow Moutai Co Ltd 2.4%, MakeMyTrip Ltd 5.9%. Securities named but not listed here were not held in the Fund as of 30 Jun 2024. Portfolio holdings are subject to change without notice. Securities referenced may not be representative of all portfolio holdings.

This material is provided for informational purposes without regard to your particular investment needs and shall not be construed as investment or tax advice on which you may rely for your investment decisions. Investors should consult their financial and tax adviser before making investments in order to determine the appropriateness of any investment product discussed herein.