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Trending ETFs

Artisan Global Unconstrained Fund

mutual fund
APFPX
Payout Change
Pending
Price as of:
$10.21 +0.01 +0.1%
primary theme
Bond Sector Diversified
APFPX (Mutual Fund)

Artisan Global Unconstrained Fund

Payout Change
Pending
Price as of:
$10.21 +0.01 +0.1%
primary theme
Bond Sector Diversified
APFPX (Mutual Fund)

Artisan Global Unconstrained Fund

Payout Change
Pending
Price as of:
$10.21 +0.01 +0.1%
primary theme
Bond Sector Diversified

Name

As of 11/08/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.21

$59.8 M

6.12%

$0.62

9.88%

Vitals

YTD Return

9.1%

1 yr return

10.3%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$59.8 M

Holdings in Top 10

30.5%

52 WEEK LOW AND HIGH

$10.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 9.88%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 11/08/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.21

$59.8 M

6.12%

$0.62

9.88%

APFPX - Profile

Distributions

  • YTD Total Return 9.1%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 6.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Artisan Global Unconstrained Fund
  • Fund Family Name
    Artisan Partners Limited Partnership
  • Inception Date
    Mar 31, 2022
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Cirami

Fund Description

The Fund’s investment team employs a fundamental investment process to construct a differentiated portfolio of securities, derivatives and other instruments that offer long and short exposures around the world. The team seeks to identify countries that are undergoing or poised for strong economic growth or structural changes, such as political, legislative and/or economic reforms. The team seeks to invest in corporate and sovereign debt instruments that offer exposures to those countries at attractive absolute and relative credit risk premium. As part of the investment process, the team considers financially material environmental, social and governance factors alongside other fundamental research.The Fund primarily invests in debt securities and instruments with similar economic characteristics. The Fund may have significant investment in a particular geographic region or country and typically a portion will be invested in emerging market countries. The Fund may invest without limit in securities and other instruments of US and non-US issuers, including issuers economically tied to emerging market countries, securities traded principally outside the United States, and securities denominated in currencies other than the US dollar.The Fund is non-diversified, which means that it may invest a greater portion of its assets in a more limited number of issuers than a diversified fund.The Fund may invest in debt instruments of all types, including, without limitation, sovereign issues, treasury obligations, bonds, loans, commercial paper, credit linked notes, covered bonds, convertible bonds and other fixed-, variable- and floating-rate securities that are either secured or unsecured, and, either senior or subordinated. The Fund may invest, without limitation, in debt instruments of any credit rating, including instruments that are rated below investment grade (below BBB- by Standard & Poor’s Rating Service or Fitch, Inc. or below Baa3 by Moody’s Investors Service, Inc.), or comparably rated by another nationally recognized statistical rating organization, or unrated but determined by Artisan Partners to be of comparable quality, commonly known as “junk bonds.”  The Fund may invest in debt instruments that are non-performing at the time of purchase. The Fund may invest in debt securities of any maturity. The Fund’s investments are not subject to any restrictions with respect to duration.The Fund expects to achieve certain exposures primarily through derivative transactions. These derivatives include, without limitation, forward foreign currency exchange contracts; futures on securities, indices, currencies, commodities, swaps and other investments; options; and swaps, including interest rate swaps, cross-currency swaps, total return swaps and credit default swaps, which may have the effect of creating investment leverage. The Fund may use derivatives to seek to enhance total return, to hedge against fluctuations in securities prices, interest rates or currency exchange rates, to change the effective duration of its portfolio, to manage certain investment risks, for speculation purposes to gain certain types of exposures and/or as a substitute for the purchase or sale of securities, currencies or commodities. The Fund may also utilize derivatives to take short positions in underlying assets and non-USD currencies to hedge certain risk factors. The Fund intends to use all or a portion of the proceeds from its short positions to take additional long positions or otherwise use in a manner consistent with its investment guidelines. The Fund’s use of derivatives is frequently extensive.The Fund expects to hold US Treasury, government agency securities and agency mortgage-backed securities (and derivatives thereon), and stripped securities to use as collateral for its derivatives positions and to help manage duration. The Fund may engage in repurchase agreements, reverse repurchase agreements and forward commitments, and may engage a substantial portion of its assets in short sales.The Fund may also invest in equity securities and exchange-traded funds. The Fund may invest in private placements and other restricted securities (i.e., securities that are purchased in private placements and, accordingly, are subject to restrictions on resale as matter of contract or under federal securities laws).The Fund may have investment exposure to the commodities markets and/or Regulation S securities primarily through investments in a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). The Fund may invest up to 25% of its total assets in its Subsidiary.The Fund may borrow up to the amount allowed by applicable law to enhance total return, fund redemptions, post collateral for hedges, or to purchase investments prior to settlement of pending sale transactions.
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APFPX - Performance

Return Ranking - Trailing

Period APFPX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.1% -9.5% 17.0% 6.17%
1 Yr 10.3% -6.0% 22.6% 54.32%
3 Yr N/A* -17.0% 16.3% N/A
5 Yr N/A* -14.5% 14.0% N/A
10 Yr N/A* -7.0% 6.8% N/A

* Annualized

Return Ranking - Calendar

Period APFPX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.2% -12.0% 8.9% 87.98%
2022 N/A -31.8% 18.4% N/A
2021 N/A -16.2% 25.7% N/A
2020 N/A -31.1% 18.7% N/A
2019 N/A -6.1% 15.3% N/A

Total Return Ranking - Trailing

Period APFPX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.1% -9.5% 17.0% 6.17%
1 Yr 10.3% -6.0% 22.6% 54.32%
3 Yr N/A* -17.0% 16.3% N/A
5 Yr N/A* -14.5% 14.0% N/A
10 Yr N/A* -7.0% 6.8% N/A

* Annualized

Total Return Ranking - Calendar

Period APFPX Return Category Return Low Category Return High Rank in Category (%)
2023 7.6% -6.9% 22.2% 55.93%
2022 N/A -31.8% 21.1% N/A
2021 N/A -13.5% 49.9% N/A
2020 N/A -28.6% 24.1% N/A
2019 N/A -4.8% 19.1% N/A

NAV & Total Return History


APFPX - Holdings

Concentration Analysis

APFPX Category Low Category High APFPX % Rank
Net Assets 59.8 M 2.53 M 143 B 90.63%
Number of Holdings 293 4 9195 65.94%
Net Assets in Top 10 31.5 M -204 M 80.4 B 82.58%
Weighting of Top 10 30.46% 5.8% 265.8% 40.75%

Top 10 Holdings

  1. U.S. Treasury Bills 4.83%
  2. Bonos de la Tesoreria 4.09%
  3. BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class 3.28%
  4. Suriname Government International Bond 3.26%
  5. Republic of Iraq 3.12%
  6. Republic of Iceland 2.88%
  7. Commonwealth of the Bahamas 2.77%
  8. Arab Republic of Egypt 2.15%
  9. Republic of Serbia 2.13%
  10. Republic of Kenya 1.95%

Asset Allocation

Weighting Return Low Return High APFPX % Rank
Bonds
63.00% 0.00% 199.60% 81.96%
Cash
32.50% -94.66% 91.07% 3.89%
Other
3.30% -73.61% 147.15% 49.61%
Stocks
1.20% -6.18% 99.66% 40.12%
Preferred Stocks
0.00% 0.00% 26.42% 79.94%
Convertible Bonds
0.00% 0.00% 33.50% N/A

Stock Sector Breakdown

Weighting Return Low Return High APFPX % Rank
Utilities
0.00% 0.00% 100.00% N/A
Technology
0.00% 0.00% 28.30% N/A
Real Estate
0.00% 0.00% 100.00% N/A
Industrials
0.00% 0.00% 100.00% N/A
Healthcare
0.00% 0.00% 18.60% N/A
Financial Services
0.00% 0.00% 100.00% N/A
Energy
0.00% 0.00% 100.00% N/A
Communication Services
0.00% 0.00% 100.00% N/A
Consumer Defense
0.00% 0.00% 99.97% N/A
Consumer Cyclical
0.00% 0.00% 89.95% N/A
Basic Materials
0.00% 0.00% 100.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High APFPX % Rank
US
1.46% -6.18% 99.66% 35.15%
Non US
-0.26% -0.26% 17.73% 100.00%

Bond Sector Breakdown

Weighting Return Low Return High APFPX % Rank
Cash & Equivalents
20.64% 0.00% 88.00% 6.55%
Securitized
0.00% 0.00% 99.65% N/A
Corporate
0.00% 0.00% 96.66% N/A
Municipal
0.00% 0.00% 54.26% N/A
Government
0.00% 0.00% 99.43% N/A
Derivative
-0.57% -73.61% 147.15% 90.33%

Bond Geographic Breakdown

Weighting Return Low Return High APFPX % Rank
US
35.68% 0.00% 199.60% 82.58%
Non US
27.31% 0.00% 74.14% 13.53%

APFPX - Expenses

Operational Fees

APFPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 9.88% 0.03% 20.67% 0.47%
Management Fee 0.95% 0.00% 2.29% 83.49%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

APFPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 1.50% N/A

Trading Fees

APFPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 0.50% 2.00% 46.15%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

APFPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 632.00% N/A

APFPX - Distributions

Dividend Yield Analysis

APFPX Category Low Category High APFPX % Rank
Dividend Yield 6.12% 0.00% 23.30% 53.00%

Dividend Distribution Analysis

APFPX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

APFPX Category Low Category High APFPX % Rank
Net Income Ratio N/A -1.55% 11.51% N/A

Capital Gain Distribution Analysis

APFPX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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APFPX - Fund Manager Analysis

Managers

Michael Cirami


Start Date

Tenure

Tenure Rank

Mar 31, 2022

0.17

0.2%

Mr. Cirami is a Managing Director of Artisan Partners. He joined Artisan Partners in September 2021 and has been lead portfolio manager of Artisan Emerging Markets Debt Opportunities Fund and Artisan Global Unconstrained Fund since their inception in April 2022 and March 2022, respectively. Prior to joining Artisan Partners, Mr.Cirami is a vice president of Eaton Vance Management, director of global income and portfolio manager on Eaton Vance's global income team. He is responsible for leading the global income team with investment professionals based in Boston, Washington, D.C., London and Singapore, as well as for buy and sell decisions, portfolio construction and risk management for the firm's global income strategies. Michael focuses on emerging Europe, the Middle East and Africa. He joined Eaton Vance in 2003. Michael began his career in the investment management industry in 1998. Previously at Eaton Vance, he was co-director of global income. Before joining Eaton Vance, he worked at State Street Bank in Boston, Luxemburg and Munich, and BT&T Asset Management in Zurich. Michael earned a B.S., cum laude, from Mary Washington College and an MBA with honors from the William E. Simon School at the University of Rochester. He also studied at WHU Otto Beisheim School of Management in Koblenz, Germany. He is a member of the CFA Society Boston, the Boston Committee on Foreign Relations and the Ludwig von Mises Institute. He also serves as a board member and chairman of the investment committee of the Boston Civic Symphony and the University of Mary Washington Foundation. Additionally, he is on the board of overseers for the New England Conservatory. He is a CFA charterholder. Michael's commentary has appeared in The Wall Street Journal, Barron's, Bloomberg and Reuters. He has been a featured speaker at Schwab, Bloomberg European Debt Crisis and Standard Chartered forums.

Sarah Orvin


Start Date

Tenure

Tenure Rank

Mar 31, 2022

0.17

0.2%

Ms. Orvin joined Artisan Partners in September 2021 as a portfolio manager. She has been portfolio manager of Artisan Emerging Markets Debt Opportunities Fund and Artisan Global Unconstrained Fund since their inception in April 2022 and March 2022, respectively. Prior to joining Artisan Partners, Ms. Orvin was a portfolio manager at Eaton Vance Management from December 2016 until September 2021. Ms. Orvin holds a B.A. degree in Political Science and History from Boston College.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.71 3.19