Greg Carlson: Artisan Global Opportunities is a fund we think highly of. It earns a Morningstar Analyst Rating of Silver.
The fund is run by a deep and experienced team. There are four portfolio managers and a number of analysts. The team invests primarily in large- and mid-cap stocks here. They also run two U.S.-focused funds, a mid-cap growth fund as well as small-cap growth fund. Those two funds also earn Silver ratings and those two funds are closed to new investors to preserve their flexibility. This fund, however, remains open. The team manages about $9 billion in the strategy, and they feel they have a lot of flexibility remaining. The team pursues primarily growth stocks. They avoid investing too heavily in speculative fare, and they tend to keep their riskier positions at a smaller size.
The fund owns about 40 to 50 stocks. So, it's a fairly concentrated portfolio. However, it's had an attractive risk profile despite that concentration. Returns have been excellent, both since the fund's 2008 launch and since it became a world stock fund in 2012 as it originally started out as a U.S.-focused fund. Fees are about average here. They have come down as the fund has grown. Overall, we think this is an excellent long-term holding.