Recent News

Publisher Title   Published
Morningstar™ Our Five Nominees for International-Stock Manager of the Year   12/31/11
Value Investor David Samra Interview   9/30/11
Mutual Fund Observer Artisan Global Value Fund (ARTGX)   5/31/11

Established in 1988, the Morningstar Fund Manager of the Year award recognizes portfolio managers who demonstrate excellent investment skill and the courage to differ from the consensus to benefit investors. To qualify for the award, managers' funds must have not only posted impressive returns for the year, but the managers also must have a record of delivering outstanding long-term risk-adjusted performance and of aligning their interests with shareholders'. The Fund Manager of the Year award winners are chosen based on Morningstar's proprietary research and in-depth qualitative evaluation by its fund analysts.

This material represents the views of the manager as of 15-Dec-11. The views and opinions expressed are based on current market conditions, which will fluctuate and those views are subject to change without notice. While the information contained herein is believed to be reliable, there no guarantee to the accuracy or completeness of any statement in the discussion. This material is for informational purposes only and should not be considered as investment advice or a recommendation of any investment service, product or individual security. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation.

For important fund performance and disclosures, see below.
For current to most recent month-end performance, please click here.

Average annual total returns for the fund and benchmark as of 31-Dec-11:

Artisan Global Value Fund – ARTGX (Inception 10-Dec-07): 1.50% (1YR), 16.29% (3YR), 1.71% (Since Inception). MSCI All Country World IndexSM: -7.35% (1YR), 12.01% (3YR), -5.71% (Since Inception).

Artisan International Value Fund – ARTKX (Inception 23-Sep-02): -7.14% (1YR), 13.80% (3YR), 0.46% (5YR), 13.84 % (Since Inception). MSCI EAFE® Index: -12.14% (1YR), 7.65% (3YR), -4.72% (5YR), 7.79% (Since Inception). MSCI EAFE® Value Index: -12.17% (1YR), 6.77% (3YR), -6.33% (5YR), 8.08% (Since Inception).

Expense Ratios are for the fiscal year ended 30-Sep-11.

Artisan Global Value Fund’s gross expense ratio is 1.77%. Artisan Partners has contractually agreed to reimburse the Fund for any ordinary operating expenses in excess of 1.50% of its average daily net assets. The current contract continues through 1-Feb-13, at which time Artisan Partners will determine whether to renew, revise or discontinue it.

Artisan International Value Fund’s expense ratio is 1.24%.

Source: Artisan Partners/MSCI.

The performance quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund 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 the performance data quoted. For current to most recent month-end performance information, call 800.344.1770 or visit www.artisanfunds.com.

Investors should consider carefully before investing the Fund’s investment objective, risks and charges and expenses. For a prospectus or summary prospectus, which contains that information and other information about the Fund, please call us at 800.344.1770. Please read the prospectus or summary prospectus carefully before you invest or send money.

Artisan Global Value Fund & Artisan International Value Fund: 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. Securities of medium-sized companies tend to be more volatile and less liquid than those of large companies, may have underperformed the securities of large companies during some periods and tend to have a shorter history of operations than large companies. Value securities may underperform other asset types during a given period. Artisan International Value Fund: Securities of small-sized companies tend to be more volatile and less liquid than those of large companies, may have underperformed the securities of large companies during some periods and tend to have a shorter history of operations than large companies.

A mutual fund’s NAV is the value of a single share and is computed daily using closing prices as of the NYSE closing time – usually 4:00 p.m. Eastern Time, but sometimes earlier. Securities for which prices are not readily available (such as when there are significant changes in one or more U.S. market indices) are valued at a fair value under the Funds’ Valuation Procedures as described in the Funds’ prospectus. When fair value pricing is employed, the value of a portfolio security used by the Fund to calculate its NAV may differ from (and consequently be higher or lower than) quoted or published prices for the same security. Fair value pricing is not employed by market indices.

Quotations of mutual fund performance are calculated using NAV and may be impacted by fair value pricing.

MSCI ACWI (All Country World) IndexSM is an index designed to measure equity market performance in the global developed and emerging markets. The MSCI EAFE® Index is an index of companies in developed markets, excluding the U.S. and Canada. The MSCI EAFE® Value Index is an index of companies in developed markets, excluding the U.S. and Canada, that exhibit value investment style characteristics according to MSCI’s methodology. The indices are unmanaged and its returns include net reinvested dividends but, unlike the Fund's returns, do not reflect the payment of sales commissions or other expenses incurred in the purchase or sale of the securities included in the indices. An investment cannot be made directly into an index.

The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.mscibarra.com)

For the purpose of determining the Fund's holdings, securities of the same issuer are aggregated to determine the weight in the Fund. These holdings comprise the following percentages of Artisan Global Value Fund’s total net assets as of 30-Sep-11: 3M Co 3.0%; Unilever PLC 3.4%. Securities named in the video, but not listed here are not held in the Fund as of the date of this report.

Artisan 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.

2/1/12 – A11664L