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Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Themes	Quick Take

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Artisan International Fund 2024 Q2 Investor Letter | Buyside Digest

Back to Fund Profile (Artisan International Fund)

Primary Source Intelligence • Q2 2024 Letter Analysis

Artisan International Fund Quarterly Analysis

Buyside Digest is not affiliated with, and does not endorse, Artisan International Fund. This analysis is provided for institutional research purposes only and is not investment advice.

Fund Returns

Annualized+9.02%

Digest Analysis

Quick Take

"Franklin Growth Opportunities Fund targets capital appreciation through concentrated positions in high-growth companies. The portfolio is heavily weighted toward large-cap technology leaders like NVIDIA, Amazon, and Meta."

Executive Summary

Franklin Growth Opportunities Fund focuses on capital appreciation through investments in companies with accelerating growth and above-average growth potential. The portfolio is concentrated in large-cap technology leaders including NVIDIA (9.43%), Amazon (6.92%), Meta (5.32%), Microsoft (5.19%), and Mastercard (3.06%). The fund delivered strong performance with 32.74% one-year returns, though it has underperformed its Russell 3000 Growth benchmark over longer periods. The investment approach targets companies with increasing profitability and growth acceleration relative to the broader economy. Key risks include concentration in certain securities and sectors, potential style rotation away from growth investing, and the inherent volatility of small and mid-cap positions. The fund is managed by Grant Bowers and Sara Araghi with 30 and 20 years of experience respectively. The portfolio reflects a conviction-based approach to growth investing with meaningful allocations to technology and innovation-driven companies positioned for continued expansion.

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Institutional Meta Strategy

Meta Strategy Gauges

Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.

Signal Matrix

Market Conviction

65%

CautiousHigh

Moderate (65%)

The fund shows moderate-high conviction through concentrated positioning with the top 10 holdings representing approximately 42% of the portfolio. NVIDIA at 9.43% and Amazon at 6.92% indicate meaningful position sizing. However, the absence of manager commentary about specific holdings or investment rationale caps the conviction assessment below high levels.

Growth Outlook

0%

BearishBullish

Bearish (0%)

The document is a fund fact sheet with no explicit market outlook commentary. It focuses purely on fund description, performance data, and holdings without expressing any directional views on market conditions or opportunities.

Risk Appetite

0%

DefensiveAggressive

Defensive (0%)

No information is provided about current positioning changes or risk appetite. The document shows static portfolio holdings and fund characteristics without indicating any recent positioning adjustments or risk management decisions.

Capital Deployment

0%

De-riskingDeploying

De-risking (0%)

No information is provided about cash levels, recent purchases, sales, or deployment activity. The document shows only static holdings percentages without any indication of recent capital allocation changes or deployment trends.

Forward Guidance

0%

CautiousExpansionary

Cautious (0%)

The fact sheet contains no forward-looking guidance or statements about intended portfolio actions. It is purely retrospective, showing historical performance and current holdings without any indication of future deployment intentions.

Language Signal

0%

BearishBullish

Bearish (0%)

The language is entirely neutral and factual, consisting of fund descriptions, performance tables, and risk disclosures. There are no directional terms, bullish or bearish language signals present in this standardized fact sheet format.

Perceived Risk

35%

Low RiskElevated

Moderate Risk (35%)

Standard risk disclosures mention concentration risk, style rotation risk, and small/mid-cap volatility. These are moderate, routine risk acknowledgments typical of growth fund disclosures rather than specific macro concerns or elevated risk warnings.

Opportunity Density

40%

ScarceAbundant

Selective (40%)

Cannot be assessed from this fact sheet format. No commentary is provided about the current opportunity set, market conditions, or the availability of attractive investment prospects.

Time Horizon

55%

Short-TermLong-Term

Multi-Year (55%)

Cannot be determined from the document. While the fund has a long track record since 1999, there is no specific commentary about investment time horizons, holding periods, or catalyst timelines in this fact sheet format.