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Investors Get Another Shot at This World-Stock Fund

Silver-rated Artisan Global Value has suffered outflows lately, but we like this recently reopened fund for the long term.


Greg Carlson: Artisan Global Value is an excellent fund that reopened to new investors late last year. It's a fairly small fund, but the managers run more than $13 billion total in this strategy and they are sensitive to their capacity needs. So, they have kept it closed for several years prior to the reopening last year.

The fund underperformed last year on a relative basis, part of the reason for recent outflows that caused the reopening. However, it has an excellent long-term record. The managers David Samra and Dan O'Keefe also run Artisan International Value, a Gold-rated fund that remains closed.

In both funds the managers hold about 40 to 50 stocks. These are fairly concentrated portfolios. However, the managers prefer higher-quality fare. They are valuation-sensitive but they also want companies that have solid competitive advantages and sturdy balance sheets. Thus, the fund is not as volatile as its typical world stock peer. In fact, it tends to hold up best in down and sideways markets.

In 2016's turmoil it's held up better than more than two thirds of its peers year-to-date through March 25. The fund boasts excellent risk-adjusted returns since its 2007 inception. The one negative here is the fund charges above-average fees, partly due to its smaller size. However, it's an excellent long-term holding and it earns a Silver Morningstar Analyst Rating.

Greg Carlson does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.