Artisan Mid Cap fared better than nearly all of its mid-cap growth Morningstar Category peers in 2020’s first quarter. It lost 11.5% for the quarter, compared with the Russell Mid Cap Growth’s 20% decline and the typical mid-growth peer’s 20.3%. Recent performance is consistent with its history of weathering downturns, as the managers’ focus on companies with sturdy balance sheets and lasting competitive advantages has resulted in greater stability when stocks falter. The managers’ bottom-up research drives this fund’s sector weightings, and an above-average healthcare stake plus light or no exposure to basic materials, energy, and financials helped this quarter. Picks with Internet-focused business models, such as videoconferencing platform Zoom Video ZM, life sciences cloud computing company Veeva Systems VEEV, and cybersecurity firm Zscaler ZS provided a cushion as well. The fund retains its Morningstar Analyst Rating of Silver.
Artisan Mid Cap Investor ARTMX
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will ARTMX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable ARTMX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the ARTMX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of ARTMX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Price Pillar
The Price Pillar compares ARTMX’s fees to similar funds, determining whether or not the fund provides a good value proposition.
Performance Pillar
The Performance Pillar is our evaluation of whether ARTMX’s returns have been the result of chance or a proven, long-term process and compares the fund with its category or benchmark.
Artisan Mid Cap Held Up Well This Quarter
