Artisan Partners Asset Management (APAM) is in focus after reporting preliminary assets under management of US$180.8b as of November 30, 2025, alongside a US$2.7b redemption from a non U.S. institutional client in early December.

Against this backdrop, Artisan Partners Asset Management’s share price has risen 7.03% year to date, with a 6.82% 1 month share price return and an 18.11% 1 year total shareholder return. This suggests momentum is building rather than fading around the US$44.32 level, while the recent US$2.7b client redemption and updated assets under management figures help frame how investors are reassessing both growth potential and risk.

If this kind of fund manager story has you thinking more broadly about where capital is flowing, it could be a good moment to check out fast growing stocks with high insider ownership.

With the shares up strongly over 1, 3 and 5 years and trading only about 2% below one analyst price target, the key question is whether APAM is still undervalued or if the market is already pricing in future growth.

Most Popular Narrative: 3.9% Undervalued

With Artisan Partners Asset Management closing at US$44.32 against a narrative fair value of US$46.13, the current price sits slightly below that implied estimate, which rests on specific assumptions for growth, margins and valuation multiples.

Analysts are assuming Artisan Partners Asset Management's revenue will grow by 8.1% annually over the next 3 years.

Analysts assume that profit margins will shrink from 21.7% today to 21.2% in 3 years time.

Curious how modest margin pressure can still sit alongside higher earnings and a richer future P/E multiple? The full narrative spells out the growth runway, profitability trade offs and valuation bridge behind that fair value call.

Result: Fair Value of $46.13 (UNDERVALUED)

However, the push into more teams and complex strategies, along with heavier reliance on intermediated wealth channels, could keep net margins under pressure and unsettle the current valuation story.

Build Your Own Artisan Partners Asset Management Narrative

If you want to stress test these assumptions yourself and weigh the trade offs in your own way, you can build a custom view in minutes: Do it your way.

A great starting point for your Artisan Partners Asset Management research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.