Portfolio statistics include accrued interest unless otherwise stated and may vary from the official books and records of the Fund. Artisan Partners may exclude outlier data and certain securities which lack applicable attributes, such as private securities when calculating portfolio statistics. Performance Source: Artisan Partners/ICE BofA. Data & Statistics Sources: Artisan Partners/Bloomberg. Unless otherwise indicated, percentages shown are of total fixed income securities in the portfolio. Annual turnover is reported as of the Fund’s fiscal year end. Portfolio statistics are intended to provide a general view of the entire portfolio, or Index, at a certain point in time and are calculated using information obtained from various data sources. For eligibility requirements see statutory prospectus. Please read it carefully before you invest or send money.Ĭlosed to most new investors. These risks are discussed in the prospectus. International investments involve special risks, including currency fluctuation, lower liquidity, different accounting methods and economic and political systems, and higher transaction costs. These risks typically are greater in emerging and less developed markets, including frontier markets. Use of derivatives may create investment leverage and increase the likelihood of volatility and risk of loss in excess of the amount invested. Private placement and restricted securities may not be easily sold due to resale restrictions and are more difficult to value. Loans may be secured, unsecured, or not fully collateralized, trade infrequently, experience delayed settlement, and be subject to resale restrictions. Loans carry risks including insolvency of the borrower, lending bank or other intermediary. The portfolio typically invests a significant portion of its assets in lower-rated high income securities (e.g., CCC). High income securities (junk bonds) are speculative, experience greater price volatility and have a higher degree of credit and liquidity risk than bonds with a higher credit rating. In general, when interest rates rise, fixed income values fall. Fixed income securities carry interest rate risk and credit risk for both the issuer and counterparty and investors may lose principal value. A portfolio’s environmental, social and governance (“ESG”) considerations may limit the investment opportunities available and, as a result, the portfolio may forgo certain investment opportunities and underperform portfolios that do not consider ESG factors. The value of portfolio securities selected by the investment team may rise or fall in response to company, market, economic, political, regulatory or other news, at times greater than the market or benchmark index. Current and future portfolio holdings are subject to risk.
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