BKR - Artisan Global Opportunities Fund Q1 2025 Commentary
2025-05-22 07:40:00 ET
Summary
- Q1 2025 saw a reversal in equity market leadership, with value stocks outperforming growth and non-US markets outpacing US equities amid rising macro uncertainty.
- Portfolio underperformed the MSCI AC World Index but outperformed growth benchmarks, benefiting from underweight positions in US mega-cap tech and strong security selection in communication services.
- We are rotating away from direct AI infrastructure exposure toward software and data providers, while focusing on resilient franchises with recession-resistant demand and company-specific catalysts.
- Heightened US-China trade tensions and tariff volatility have increased macro risks; we are using market volatility to upgrade the portfolio into high-conviction, high-quality growth ideas.
Investment Results (%)
Average Annual Total Returns
| As of 31 March 2025 |
| QTD |
| YTD |
| 1Yr |
| 3Yr |
| 5Yr |
| 10 Yr |
| Inception |
| Investor Class: ARTRX |
| -4.41 |
| -4.41 |
| -0.82 |
| 2.87 |
| 11.44 |
| 10.00 |
| 10.52 |
| Advisor Class: APDRX |
| -4.38 |
| -4.38 |
| -0.69 |
| 3.02 |
| 11.60 |
| 10.14 |
| 10.61 |
| Institutional Class: APHRX |
| -4.35 |
| -4.35 |
| -0.59 |
| 3.12 |
| 11.70 |
| 10.26 |
| 10.73 |
| MSCI All Country World Index |
| -1.32 |
| -1.32 |
| 7.15 |
| 6.91 |
| 15.18 |
| 8.84 |
| 8.09 |