Artisan Partners: Rising Rates and Inflation Protection: Artisan Floating Rate Fund

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 Floating Rate Fund A Potential Solution to Rising-Rate and Inflationary Fears With an outlook for higher interest rates and continued inflation, we view leveraged loans as a compelling solution for investors looking for attractive income through a lower duration, lower-volatility fixed income investment. Given their floating-rate structure, leveraged loans can reduce a portfolio's duration risk while directly benefitting from higher benchmark rates through increased income potential. And because rising inflation is often accompanied by higher interest rates, the asset class has historically acted as a strong hedge against certain types of inflationary environments. Leveraged loans are currently among the highest yielding asset classes with little interest rate risk Yield vs Duration [Scatterplot chart comparing fixed income assets] Source: Artisan Partners/ICE BofA/JPMorgan/Credit Suisse. As of 31 May 2022. Indices—Leveraged Loans: Credit Suisse Leveraged Loan Index; US High Yield: ICE BofA US High Yield Index; EM Debt: JPMorgan EMBI Global Diversified Index; IG Corporate: ICE BofA US Corporate Bond Index; Aggregate Bond: Bloomberg US Agg Bond Index; Municipal: Bloomberg Municipal Bond Index. Leveraged loans have had positive sensitivity to inflation, providing a potential hedge to rising prices Inflation Beta of Fixed Income Assets [Bar chart showing inflation beta of fixed income assets] Source: Artisan Partners/ICE BofA/JPMorgan/Credit Suisse. As of 31 May 2022. Based on monthly returns since common index inception date of 31 July 1999. Indices—US TIPS: Bloomberg US Treasury TIPS Index; Leveraged Loans: Credit Suisse Leveraged Loan Index; US High Yield: ICE BofA US High Yield Index; EM Debt: JPMorgan EMBI Global Diversified Index; Aggregate Bond: Bloomberg US Agg Bond Index; IG Corporate: ICE BofA US Corporate Bond Index. A Differentiated Approach to the Leveraged Loan Market Building on the success of the Morningstar 5-Star Rated Artisan High Income Fund*, the Artisan Floating Rate Fund takes a differentiated approach to floating-rate investments. The Fund has broad flexibility to invest across industries, issuance sizes and the credit spectrum to create a high-conviction portfolio that looks very different from the index and peers. The result is a portfolio that we believe is better positioned to withstand the challenges facing investors today. Artisan Credit Team Investor Update If interested in hearing more from the Artisan Partners Credit Team, please register for the next Investor Update on July 19th. Portfolio managers Bryan Krug and Seth Yeager [will discuss the recent market volatility]( and where the team is finding opportunities across the high yield bond and leveraged loan landscape. Tuesday, 19 July 2022 2:00 p.m. ET / 1:00 p.m. CT / 12:00 p.m. MT / 11:00 a.m. PT [Register Today]( Artisan Floating Rate Fund Available Share Classes Investor: [ARTUX]( | Advisor: [APDUX]( [The Case for Leveraged Loans]( [Fact Sheet—1Q 2022]( [Quarterly Commentary—1Q 2022]( [Monthly Commentary—May 2022]( Thank you for your interest in Artisan Partners. We look forward to answering any question 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. Fixed income securities carry interest rate risk and credit risk for both the issuer and counterparty and investors may lose principal value. In general, when interest rates rise, fixed income values fall. 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. The portfolio typically invests a significant portion of its assets in lower-rated high income securities (e.g., CCC). Loans carry risks including insolvency of the borrower, lending bank or other intermediary. Loans may be secured, unsecured, or not fully collateralized, trade infrequently, experience delayed settlement, and be subject to resale restrictions. Private placement and restricted securities may not be easily sold due to resale restrictions and are more difficult to value. The use of derivatives in a portfolio may create investment leverage and increase the likelihood of volatility and risk of loss in excess of the amount invested. 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. *Star ratings are based on risk-adjusted returns, are historical and do not represent future results. 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. As of 31 Mar 2022, the Artisan High Income Fund was rated 5-stars for the Overall, 3-year and 5-year periods in the Morningstar High Yield Bond category. Funds in Category: Overall and 3-years: 633; 5-years: 567. The Morningstar Rating™ 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. Past performance is no guarantee of future results. © 2022 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The index(es) are unmanaged; include net reinvested dividends; do not reflect fees or expenses; and arenot available for direct investment. Source ICE Data Indices, LLC is used with permission. ICE® is a registered trademark of ICE Data Indices, LLC or its affiliates and BofA® is a registered trademark of Bank of America Corporation licensed by Bank of America Corporation and its affiliates ("BofA"), and may not be used without BofA's prior written approval. The index data referenced herein is the property of ICE Data Indices, LLC, its affiliates ("ICE Data") and/or its third party suppliers and, along with the ICE BofA trademarks, has been licensed for use by Artisan Partners Limited Partnership. ICE Data and its Third Party Suppliers accept no liability in connection with the use of such index data or marks. See [www.artisanpartners.com/ice-data.html]( for a full copy of the Disclaimer. Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The Index is used with permission. The Index may not be copied, used, or distributed without J.P. Morgan's prior written approval. Copyright 2022, J.P. Morgan Chase & Co. All rights reserved. Artisan Partners Funds offered through Artisan Partners Distributors LLC, member FINRA. For Financial Advisor Use Only. Not for Distribution to the Public. 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. A22560L About this E-mail to Morningstar.com Customers: To unsubscribe from future e-mail, please [click here]( or email joe@morningstar.com. This message was sent by an automatic mail sending program. Do not reply to this e-mail address. 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