Artisan International Small-Mid Fund Q4 2024 Commentary

March 21, 2025 08:30:00 am

Source: SeekingAlpha

2025-03-21 08:30:00 ET

Summary

Global equities fell in Q4, specifically in December, as the Federal Reserve signaled that it is unlikely to cut rates in 2025 as sharply as markets had anticipated.
The Artisan International Small-Mid Fund portfolio outperformed the MSCI ACWI ex USA SMID Index in Q4.
The present market environment, though uncertain, is ripe with opportunities to acquire foreign businesses across a diverse set of industries that are trading at steep discounts to their US counterparts.

Investment Results(%)

			Average Annual Total Returns
As of 31 December 2024	QTD	YTD	1 Yr	3 Yr	5 Yr	10 Yr	Inception
Investor Class: ARTJX	-7.29	-0.49	-0.49	-5.57	3.03	5.43	9.62
Advisor Class: APDJX	-7.30	-0.33	-0.33	-5.43	3.18	5.52	9.66
Institutional Class: APHJX	-7.24	-0.24	-0.24	-5.37	3.27	5.63	9.71
MSCI All Country World ex USA SMID Index	-7.53	3.49	3.49	-1.19	3.55	5.06	7.81
MSCI EAFE Small Cap Growth Index	-8.52	0.96	0.96	-6.74	1.49	5.63	7.62

Source: Artisan Partners/MSCI. Returns for periods less than one year are not annualized. Class inception: Investor (21 December 2001); Advisor (4 December 2018); Institutional (12 April 2016). For the period prior to inception, each of Advisor Class and Institutional Class’s performance is the Investor Class’s return for that period (“Linked Performance”). Linked Performance has not been restated to reflect expenses of the Advisor or Institutional Class and each share’s respective returns during that period would be different if such expenses were reflected.

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Artisan International Small-Mid Fund Q4 2024 Commentary