Artisan Partners: Focus Fund Five-Year Anniversary | Peak Insights Invitation

You are receiving this email as a registered member of Morningstar.com and have asked to receive features, products and services from third party companies. This is a paid advertisement from the sponsor. If you would like to change your e-mail preferences, see the bottom of this message for more information. Also, if you are unable to see the images, please click “Show Images and Enable Links” or right-click to download pictures. To view this email as a web page, go [here.]( [Artisan Partners]( Artisan Focus Fund Marks 5-Year Milestone The Antero Peak Group recently celebrated the [five-year anniversary]( of the Artisan Focus Fund ([ARTTX]( | [APDTX]( and is pleased to have delivered absolute and risk-adjusted returns exceeding that of the S&P 500® Index. Since Inception Annualized and Risk-Adjusted Returns Annualized Returns (since inception) [Chart: Annualized Returns] Sharpe Ratio (since inception) [Chart: Sharpe Ratio] As of 30 Apr 2022 Cumulative Returns Since Inception Standard Deviation Up Capture Down Capture Artisan Focus Fund (ARTTX) 150.53% 16.7% 122% 91% S&P 500® Index 90.51% 16.3% — — Source: Artisan Partners/S&P. Statistics from 1 May 2017 to 30 Apr 2022. Inception 24 Apr 2017. Artisan Focus Fund data is based on monthly Investor Class returns, net of fees. Average Annual Returns (% USD) As of 31 Mar 2022 1 Yr 3 Yr 5 Yr Inception Artisan Focus Fund (ARTTX) 7.72 18.62 — 22.61 S&P 500® Index 15.65 18.92 — 16.08 Source: Artisan Partners/S&P. Inception 24 Apr 2017. Returns for periods less than one year are not annualized. Past performance does not guarantee and is not a reliable indicator of future results. Investment returns and principal values will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown. Call 800.344.1770 for current to most recent month-end performance. Performance reflects agreements to limit the Fund's expenses, which would reduce performance if not in effect. The Fund's investments in initial public offerings (IPOs) made a material contribution to performance. IPO investments may contribute significantly to a small portfolio's return, an effect that will generally decrease as assets grow. IPO investments may be unavailable in the future. On this milestone, the team credits their repeatable and disciplined investment framework, which is founded in identifying inflection points that can lead to acceleration in multi-year trends. When paired with risk management and optimization tools, the result is a style-agnostic equity portfolio that aims to maximize alpha and limit downside risk over market cycles. As Portfolio Manager Chris Smith states, “By sticking to the process and constantly improving it, we think we will continue to evolve as better investors over the next 5 years and beyond”. Peak Insights Featuring Canadian Pacific Railway (NASDAQ: CP) Wednesday, 8 June 2022 11:00 a.m. ET / 10:00 a.m. CT / 8:00 a.m. PT [Peak Insights]( Please join us for an exclusive conversation with Antero Peak Group Portfolio Manager Chris Smith and Canadian Pacific’s EVP and CFO Nadeem Velani as they discuss the shift towards domestic supply chains and how the railroads are positioned to dramatically expand their reach. [Register now.]( Growth of $10,000 Investment in the Fund For the period 30 Apr 2017 – 30 Apr 2022 [Chart: Growth of $10,000] Source: Artisan Partners/S&P. Illustration based on a hypothetical investment in ARTTX. Includes expenses and reinvestment of distributions. Results are not indicative of future performance. Morningstar Overall RatingTM As of 30 April 2022 [4 stars] Star ratings are based on risk-adjusted return. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10- year Morningstar Rating metrics. (Artisan Focus Fund – Investor Shares is rated, Overall: 4 stars out of 1,137 funds; 3-years: 3 stars out of 1,137 funds; 5-years: 5 stars out of 1,048 funds in the Large Growth category as of 31 April 2022.) Related Materials [5-Year Highlights]( [Viewpoint: A Differentiated Approach]( [Fact Sheet—1Q 2022]( [Quarterly Commentary—1Q 2022]( Thank you for your interest in Artisan Partners. We look forward to answering any questions you may have. Artisan Intermediary Services [800 454 1770](tel:18004541770) intermediaryservices@artisanpartners.com [ArtisanPartners.com]( [Prospectus]( Current and future portfolio holdings are subject to risk. 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. A non-diversified portfolio may invest a larger portion of assets in securities of a smaller number of issuers and performance of a single issuer may affect overall portfolio performance greater than in a diversified portfolio. The portfolio's use of derivative instruments may create additional leverage and involve risks different from, or greater than, the risks associated with investing in more traditional investments. High portfolio turnover may adversely affect returns due to increased transaction costs and creation of additional tax consequences. Securities of small- and medium-sized companies tend to have a shorter history of operations, be more volatile and less liquid and may have underperformed securities of large companies during some periods. 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 markets. This material is provided for informational purposes without regard to your particular investment needs and shall not be construed as investment or tax advice on which you may rely for your investment decisions. Investors should consult their financial and tax adviser before making investments in order to determine the appropriateness of any investment product discussed herein. The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings are for the Fund’s Investor Shares; other classes may vary. Past performance is no guarantee of future results. Upside / Downside Capture measures a manager's ability to generate excess returns above the benchmark when it's positive—upside greater than 100—and come down less than the benchmark when it's negative—downside less than 100. The risk-free proxy used to calculate Sharpe ratio is 3-month Treasury bill. The S&P 500® ("Index") is a product of S&P Dow Jones Indices LLC ("S&P DJI") and/or its affiliates and has been licensed for use. Copyright © 2022 S&P Dow Jones Indices LLC, a division of S&P Global, Inc. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. S&P® is a registered trademark of S&P Global and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). None of S&P DJI, Dow Jones, their affiliates or third party licensors makes any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and none shall have any liability for any errors, omissions, or interruptions of any index or the data included therein. Artisan Partners Funds offered through Artisan Partners Distributors LLC (APDLLC), member FINRA. APDLLC is a wholly owned broker/dealer subsidiary of Artisan Partners Holdings LP. Artisan Partners Limited Partnership, an investment advisory firm and adviser to Artisan Funds, is wholly owned by Artisan Partners Holdings LP. Artisan Partners Funds offered through Artisan Partners Distributors LLC, member FINRA. Emails are not secure. Please do not include any account information or other sensitive data or transaction requests in your response. © 2022 Artisan Partners. All rights reserved. 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