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What Artisan announced is not helpful to foster teamwork. It would be better to promote key contributors as co-managers to the team. Hope this is poor PR announcement and not some internal conflict.
I have been thinking about reducing my holding in ARTKX, but will start doing so now. Their fee is high despite increasing assets. No complaints about their past performance, but with the IPO and now this management change, it no longer seems like the same fund going forward.
Looks like they're trying to find a way to make us buy both funds. I exchanged from ARTKX to ARTGX years ago and I'm glad I did. I'm really appreciating FMIs setup more and more. Maybe this will work but I hate tinkering with something that already is working.
It's hard enough to figure out what global value funds Artisan offers without them dividing things up even more. The "Growth" team is charged with running four different funds, the global one of which I own (ARTRX). It's gotten so confusing that M* had to publish an article about all the Artisan global funds a while back.
Not invested in any of their funds but bought APAM when they went public. Should have sold when they shot up to $70, but rode it down. Doubled down around $27 and living with ~8% dividend.
So where are you guys who are selling ARTKX/ARTGX moving your funds to? I've owned ARTKX for 12 years or so, it's been a fabulous fund, but all these changes are disturbing.
Sold ARTKX 2 days ago after 9 years in portfolio because of gradual decrease in performance over the past 10 years. When things get less frothy ,funds will go into FMIJX,PGVFX and VMNFX which I also hold. Artisan today is very different from 10 years ago and it was time to move on.
Thanks @fundly. I'm looking at FMIJX too, in which I have a toehold, as well as VMVFX. PGVFX's performance in 2008 scares me a bit, at least in this current environment, when everything seems overpriced. ARTKX held up comparably well back then.
The culture at FMI funds is excellent. I first invested with Pat English and Andy Ramer in the Large Cap fund, FMIHX in 2006; then later in the international fund, FMIJX. FMI will close their fund when asset grew too large to manage in their concentrated portfolio. Also their fees are reasonable. Most of all, the institutional shares are assessable in major brokerages with reasonable $ minimum.
Ironically, FMI and Artisan are both based in Milwaukee, WI, but this corporate cultures are quite different.
Another consideration is Vanguard Global Minimum Volatility fund; ER 0.25% Investor shares and 0.17% Admiral shares. Both FMIJX and VFVFX are doing well this year despite the challenges in international and global funds.
Both FMIJX and VFVFX are doing well this year despite the challenges in international and global funds.
Both of them hedge their currency exposure which goes a long way in explaining why they were both close to the bottom of their category last year and close to the top this year.
As a long time holder of most Artisan funds (while I keep selling my holdings) and looking for re-entry, I don't think this split is going to matter much.
@VintageFreak, I hope you're right. My concern is related to talent dilution and possible changing priorities. They seem to have evolved from a principled Value boutique firm into one intent on multiplying offerings on the shelf. Perhaps, these two Managers were ready for a change and this has nothing to do with assets under management. I hope so and plan to be patient, but I'm concerned.
Okay so first, we don't marry our funds or fund managers. I thought I was the last one to get divorced but perhaps it would seem I'm not. It took my YEARS to convince myself NO ONE is that good.
Frankly I focus more on whether to be invested in equities or not. After that I go with fund / or keep fund that's doing well. If that stops being ARTMX so be it.
I briefly owned Parnassus Midcap. However after their immoral love affair with Smells Largo, I stayed with ARTMX.
I've gradually sold all of my Artisan holdings. I've moved them to balanced funds. I will trade Artisan funds just I will trade other funds. Yes I trade funds, not stocks because I'm better at doing that. Sue me (but it will get you nowhere). I keep my toe in Artisan because they are mostly closed - the only reason. In strong markets Artisan will do well.
Bottom line, if I was fretting so much about ARTMX as you seem to be, I would be out already. Not worth it frankly. Just hope you have a alternate place to go.
I am strongly considering selling ARTGX, partly due to unimpressive performance ( I realize value has been lagging, but I have enough value in other domestic funds right now). However, I will continue to hold ARTRX and ARTTX. ARTRX remains solid for its category, and ARTTX continues to impress.
Comments
I have been thinking about reducing my holding in ARTKX, but will start doing so now. Their fee is high despite increasing assets. No complaints about their past performance, but with the IPO and now this management change, it no longer seems like the same fund going forward.
Regards,
Ted
https://www.morningstar.com/articles/882315/artisan-global-value-team-will-split.html
Mona
Ironically, FMI and Artisan are both based in Milwaukee, WI, but this corporate cultures are quite different.
Another consideration is Vanguard Global Minimum Volatility fund; ER 0.25% Investor shares and 0.17% Admiral shares. Both FMIJX and VFVFX are doing well this year despite the challenges in international and global funds.
Frankly I focus more on whether to be invested in equities or not. After that I go with fund / or keep fund that's doing well. If that stops being ARTMX so be it.
I briefly owned Parnassus Midcap. However after their immoral love affair with Smells Largo, I stayed with ARTMX.
I've gradually sold all of my Artisan holdings. I've moved them to balanced funds. I will trade Artisan funds just I will trade other funds. Yes I trade funds, not stocks because I'm better at doing that. Sue me (but it will get you nowhere). I keep my toe in Artisan because they are mostly closed - the only reason. In strong markets Artisan will do well.
Bottom line, if I was fretting so much about ARTMX as you seem to be, I would be out already. Not worth it frankly. Just hope you have a alternate place to go.