Artisan International InvARTIX

Morningstar Rating

Fund Research and Analysis

by Greg Carlson

Artisan International hasn't shot out the lights lately, but we have a lot of confidence in its veteran manager.

This foreign large-growth fund lost a stomach-churning 58% in equities' sharp downturn from Oct. 9, 2007, through March 9, 2009--slightly less than the category norm and several percentage points more than its benchmark, the MSCI EAFE Index. Read more

Kudos

Strong long-term returns.

Talented manager.

Sound strategy.

Valuation discipline has helped limit losses here. Read more

Risks

Will venture beyond traditional growth sectors and add to names on weakness, which can sting at times.

Taste for emerging-markets names courts risk.

Willingness to build big stakes in individual sectors comes with risks. Read more

Strategy

The fund favors companies that are poised to enjoy superior earnings growth, but it is flexible in its pursuit of such issues. Nontraditional growth stocks such as banks or utilities can pop into the portfolio. Read more

Management

Mark Yockey came to start this fund for Artisan Partners in 1995. He won Morningstar's 1998 International-Stock Manager of the Year for his record here and for delivering strong long-term returns on his previous charge, United International Growth (now Waddell & Reed Advisors International Growth UNCGX), where he got his start in 1990. Read more

Inside Scoop

This fund relies on a wide-ranging and price-conscious growth style. It makes full use of the sector spectrum, and it's not afraid to consider emerging-markets opportunities. Read more

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