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Artisan to offer institutional shares of its Artisan Small Cap Fund
By Toni Weeks
San Diego, March 2 - Artisan Partners Funds, Inc. announced in an N-1A filing with the Securities and Exchange Commission its plans to offer institutional shares of its Artisan Small Cap Fund.
The institutional shares will be available about May 1. The ticker symbol has not yet been determined. The fund currently offers investor shares, which trade under the symbol "ARTSX."
The fund seeks maximum long-term capital growth by investing in a diversified portfolio of primarily U.S. small-cap growth companies.
Artisan's investment process focuses on two distinct areas: security selection and capital allocation. In the security selection process, Artisan aims to identify companies that possess franchise characteristics and that are selling at attractive valuations as well as benefitting from an accelerating profit cycle. Capital allocation is addressed by dividing the portfolio into three segments: Garden, Crop and Harvest.
Garden investments are based on companies that Artisan believes have a good franchise, attractive valuation and accelerating earnings but are at too early in their profit cycle stage to ensure success. Crop investments include those companies that are moving into their strongest part of their profit cycles and are likely to continue generating positive earnings. Harvest investments are composed of stocks that are approaching full valuation and a deceleration of their profit cycle.
Craigh A. Cepukenas, Andrew C. Stephens, James D. Hamel, Matthew H. Kamm and Jason L. White are the portfolio managers for both share classes.
The fund does not impose any shareholder fees for either share class, and the management fees run 1%. Total annual fund operating expenses are expected to be 1.53% for institutional class shares. That figure is 1.66% for investor class shares.
Milwaukee-based Artisan Partners LP serves as the fund's investment adviser.
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