U.S. Mid-Cap Growth Strategy
Investment Approach
Artisan U.S. Mid-Cap Growth strategy pursues long-term capital growth by investing in mid-cap growth companies benefiting from an accelerating profit cycle with franchise characteristics that are selling at attractive valuations. The team looks for opportunities across the entire economy so that it can find sustainable growth regardless of the sector or industry.
Quarterly Performance (as of 3/31/12)
| AVERAGE ANNUAL TOTAL RETURNS | |||||||
|---|---|---|---|---|---|---|---|
| Strategy/Index | QTD1 | YTD1 | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Inception2 |
| Artisan U.S. Mid-Cap Growth Composite (Gross) | 21.15% | 21.15% | 11.69% | 33.44% | 10.27% | 9.55% | 16.43% |
| Artisan U.S. Mid-Cap Growth Composite (Net) | 20.89% | 20.89% | 10.66% | 32.23% | 9.25% | 8.55% | 15.35% |
| Russell Midcap® Growth Index | 14.52% | 14.52% | 4.43% | 29.13% | 4.44% | 6.91% | 7.74% |
| Russell Midcap® Index | 12.94% | 12.94% | 3.31% | 29.10% | 3.02% | 7.85% | 9.38% |
Source: Artisan Partners/Russell. Past performance is not indicative of future results.
1 Returns are not annualized. 2 Inception date is April 1, 1997. Net-of-fees composite returns were calculated using the highest model investment advisory fees applicable to portfolios within the composite. Fees may be higher for certain pooled vehicles and the composite may include accounts with performance-based fees. All performance results are net of commissions and transaction costs, and have been presented gross and net of investment advisory fees. Dividend income is recorded net of foreign withholding taxes on ex-dividend date or as soon after the ex-dividend date as the information becomes available to Artisan Partners. Interest income is recorded on the accrual basis. Performance results for the index include reinvested dividends and are presented net of foreign withholding taxes but, unlike the portfolio's returns, do not reflect the payment of sales commissions or other expenses incurred in the purchase or sale of the securities included in the indices.