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Artisan Thematic Strategy

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Artisan Thematic Strategy Q2 2020 Artisan Thematic Strategy This material is intended to provide an overview of the Thematic team's investment philosophy and process. Investment in any vehicle managed by the team is subject to further documentation contained in the vehicle's offering materials. This material is not for use by retail investors and may not be reproduced or distributed without Artisan Partners' permission. This material does not constitute an offer or solicitation where such actions are not authorized or lawful. Further limitations on the availability of products or services described herein may be imposed. This material is only intended for investors which meet qualifications as institutional investors as defined in the applicable jurisdiction where this material is received, which includes only Professional Clients or Eligible Counterparties as defined by the Markets in Financial Instruments Directive (MiFID) where this material is issued by APUK or AP Europe. This material is not for use by retail or professional clients and may not be reproduced or distributed without Artisan Partners’ permission. For US institutional investors and MiFID Eligible Counterparties Only—Not for Onward Distribution GIPS Composite Report included in appendix Artisan Partners Important Disclosures These materials are provided solely for use in a private meeting and are intended for informational and discussion purposes only. Investment is subject to further documentation. This document is not a prospectus. Unless expressly stated, it has not otherwise been registered with, or approved by, any regulatory authority in any jurisdiction. This material is for informational purposes only and shall not be construed as investment or tax advice. Prospective investors should consult their financial and tax adviser before making investments in order to determine whether investment will be suitable for them. Unless otherwise indicated, the Artisan Strategy characteristics relate to that of an investment composite or a representative account managed within a composite. It is intended to provide a general illustration of the investment strategy and considerations used by Artisan Partners in managing that strategy. Individual accounts may differ, at times significantly, from the reference data shown due to varying account restrictions, fees and expenses, and since-inception time periods, among others. Where applicable, this information is supplemental to, and not to be construed with, a current or prospective client’s investment account information. The information presented is believed to be materially correct as at the date indicated, but no representation or warranty (express or implied) is made as to the accuracy or completeness of any of this information. Nothing set out in these materials is or shall be relied upon as a promise or representation as to the past or future. Statements contained in the presentation are based on the beliefs and assumptions of our portfolio management team and on the information currently available to our team at the time of such statements. Although we believe that the expectations reflected in these statements are reasonable, we can give no assurance that these expectations will prove to be correct. INVESTMENT RISKS: Investments will rise and fall with market fluctuations and investor capital is at risk. For further information on the investment risks related to this material, please see the Notes and Disclosures section. ARTISAN PARTNERS Artisan Partners Thematic Team Investment Results —Thematic Strategy Since Inception Cumulative Returns Risk/Return Summary 100% 30% 25% 80% Artisan Thematic Strategy 20% 60% 15% 40% S&P 500® Index 10% 20% Annualized Return 5% MSCI ACWI Index 0% 0% 12% 14% 16% 18% 20% Feb 18 Feb 19 Feb 20 Nov 17 Nov 18 Nov 19 Aug 17 Aug 18 Aug 19 Aug May 17 May 18 May 19 May 20 Annualized Volatility Artisan Thematic Strategy S&P 500® Index Performance Statistics Annualized Cumulative Standard Sharpe Max Relative to the S&P 500® Index As of 30 Jun 2020 Returns Inception Returns Inception Deviation Ratio Drawdown Beta Up Capture Down Capture Artisan Thematic—Representative Account: Net 24.00% 97.77% 14.0% 1.6 -14.3% 0.8 129% 65% S&P 500® Index 10.83% 38.54% 16.3% 0.6 -19.6% — — — MSCI ACWI Index 6.69% 22.76% 15.6% 0.3 -21.4% 0.9 82% 102% Source: Artisan Partners/S&P/MSCI. Representative account and Composite inception: 1 May 2017. Risk-free proxy is 3-month US Treasury bill. Returns less than one year are not annualized. Past performance does not guarantee and is not a reliable indicator of future results. Net performance shown for a representative account managed in the Thematic Composite. Current performance may be lower or higher than performance shown. The Strategy’s investments in initial public offerings (IPOs) made a material contribution to performance. IPO investments may contribute significantly to a small portfolio’s return, an effect that will generally decrease as assets grow. IPO investments may be unavailable in the future. A material portion of the Composite’s assets contain client-imposed restrictions limiting investment in IPOs and other instruments. Representative account performance is provided to illustrate the returns of an unrestricted model account managed to the Artisan Thematic Strategy. Risk and return statistics from 1 May 2017 to 30 Jun 2020 based on Artisan Thematic Composite net returns. Annualized volatility measured by standard deviation. ARTISAN PARTNERS 2 Artisan Thematic Strategy Investment Results—Returns During Down Months Historical Monthly Returns (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD 2020 Representative Account: Gross0.38-4.65-9.979.765.613.93——————3.81 Representative Account: Net0.30-4.74-10.059.675.533.85——————3.30 S&P 500® Index -0.04 -8.23 -12.35 12.82 4.76 1.99 —————— -3.08 2019 Representative Account: Gross 5.79 4.25 3.08 5.00 -4.18 5.16 2.58 2.22 -1.34 2.16 2.59 2.84 34.08 Representative Account: Net 5.70 4.16 2.99 4.91 -4.26 5.07 2.49 2.13 -1.43 2.08 2.50 2.76 32.78 S&P 500® Index 8.01 3.21 1.94 4.05 -6.35 7.05 1.44 -1.58 1.87 2.17 3.63 3.02 31.49 2018 Representative Account: Gross 9.24 -1.83 -0.15 1.22 2.20 2.97 3.43 3.29 1.02 -3.82 2.83 -7.26 12.91 Representative Account: Net 9.15 -1.92 -0.23 1.14 2.12 2.89 3.35 3.21 0.94 -3.91 2.75 -7.34 11.80 S&P 500® Index 5.73 -3.69 -2.54 0.38 2.41 0.62 3.72 3.26 0.57 -6.84 2.04 -9.03 -4.38 2017 Representative Account: Gross————3.860.277.542.592.094.874.850.6629.81 Representative Account: Net————3.780.197.462.502.004.784.760.5728.98 S&P 500® Index ————1.410.622.060.312.062.333.071.1113.70 Cumulative Returns (%) as of 30 Jun 2020 YTD 1 Yr 3 Yr Inception Inception Artisan Thematic Composite (Gross) 3.57 15.34 24.51 24.66 101.13 Artisan Thematic Composite (Net) 3.06 14.20 23.29 23.44 94.96 S&P 500® Index -3.08 7.50 10.72 10.83 38.54 (%) 12 Months Ended 30 Jun 2020 2017 2018 2019 2020 Artisan Thematic Composite (Gross) — 41.26 18.54 15.34 Source: Artisan Partners/S&P. Representative account and Composite inception: 1 May 2017. Returns less than one year are not annualized. Gross- and net-of-fees performance shown for the Artisan Thematic Composite and a representative account managed in the Composite. Net-of-fees composite returns were calculated using the highest model investment advisory fees applicable to portfolios within the composite. Current performance may be lower or higher than performance shown. The Strategy’s investments in initial public offerings (IPOs) made a material contribution to performance. IPO investments may contribute significantly to a small portfolio’s return, an effect that will generally decrease as assets grow. IPO investments may be unavailable in the future. A material portion of the Composite’s assets contain client imposed restrictions limiting investment in IPOs and other instruments. Representative account performance is provided to illustrate the returns of an unrestricted model account managed to the Artisan Thematic Strategy. Past performance does not guarantee and is not a reliable indicator of future results. ARTISAN PARTNERS 3 Artisan Thematic Strategy Investment Results . Our objective approach to the research and portfolio construction process has helped us achieve superior returns with lower volatility. This combination is critical to achieving long-term compounding results. Return vs Volatility (since inception) Upside/Downside Capture (since inception) 25% Sharpe Ratio 140% Artisan Thematic Strategy 1.6 S&P 500® Index 0.6 120% 20% 100% 15% 80% 60% 129% 10% 40% 5% 65% 20% 0% 0% Annualized return Volatility Upside Capture Downside Capture Artisan Thematic Strategy S&P 500® Index Artisan Thematic Strategy vs. S&P 500® Index As of 30 Jun 2020. Source: Artisan Partners/FactSet/S&P. Past Performance does not guarantee and is not a reliable indicator of future results. Strategy returns are based on and Thematic Composite (inception 1 May 2017), net of fees. An upside capture ratio over 100 indicates that the portfolio has outperformed the index during periods of positive returns. A downside capture ratio of less than 100 indicates that the portfolio has lost less the index during periods of negative returns. Risk-free proxy is 3-month US Treasury bill. ARTISAN PARTNERS 4 Artisan Partners Thematic Team Consistency of Returns Rolling 12 Month Returns: Artisan Thematic Strategy vs S&P 500 index # of Observations # Outperform Benchmark % Outperform Benchmark 27 27 100% 50% 40% 30% 20% 10% 0% Artisan Thematic Strategy Returns (%) Strategy Returns Artisan Thematic -10% -20% -5% 0% 5% 10% 15% 20% 25% 30% 35% S&P 500 Index Returns (%) Source: Artisan Partners/S&P.
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