Artisan Partners is soft closing David Samra’s Artisan International Value fund a little over a year after it reopened to new investors.
The fund, which will stop taking money from most new investors on June 30, had previously been soft closed from 2011 until March of last year, when it reopened following to Covid crash.
At the time, Samra said it had reopened due to market opportunities presented by the selloff as well as the fund’s size. Assets had fallen to $10.8bn following the March crash, having sat at $13.9bn at the end of February that year, according to data from Morningstar Direct.
Since it reopened, the fund’s assets under management have risen to an all-time high of $21.2bn, of which about $2bn is from inflows and the rest from market appreciation, per Morningstar Direct data.
The fund is ranked 35 out of 203 Foreign Large Blend funds tracked by Citywire for three-year total returns to the end of April, during which time it was up 29.4% compared to the category average’s 22.3%. Over one year to the end of May it is up 56.8%, ranking eighth in the peer group, well ahead of the category average of 41.8%.
The fund has been the subject of high-profile personnel changes over recent years.
In 2018 Artisan split its global value portfolio managers, with AA-rated Samra (pictured) taking the lead on the International Value fund and his former co-manager, Citywire + rated Daniel O’Keefe, taking charge of the Artisan Global Value fund.
At the time, Artisan said the move was made to streamline the investment process and give younger portfolio managers more responsibility.
Ian McGonigle and Joseph Vari, both of whom have AA ratings with Citywire, joined Samra on the International Value fund when the teams split.
International Value is one of two funds that Artisan is soft closing. The $6.5bn Artisan High Income fund closed to new investors on April 30, as Citywire previously reported.
Citywire AA-rated Bryan Krug has managed the High Income fund since 2014.
‘Closing the funds to most new investors allows the teams to preserve capacity for existing investors and ensure the team can manage the portfolio consistently with the approach it has applied since inception,’ said a spokesman for Artisan.
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June 17, 2021 at 01:24AM
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Artisan soft closes International Value fund (again) as assets top $20bn - Citywire USA
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