Investing in a Closed Fund

Artisan International Small Cap Fund, Artisan International Value Fund, Artisan Mid Cap Fund, Artisan Mid Cap Value Fund and Artisan Small Cap Value Fund are closed to most new investors. Though closed to most other new investors, Artisan International Value Fund remains available to new employee benefit plans administered by certain retirement plan intermediaries. The Funds do not permit investors to pool their investments in order to meet the eligibility requirements, except as otherwise noted below. Unless specified below, each individual in a pooled vehicle must meet one of the eligibility requirements set forth below.

If you have been a shareholder in a Fund continuously since it closed, you may make additional investments in that Fund and reinvest your dividends and capital gain distributions, even though the Fund has closed, unless Artisan Partners considers such additional purchases to be not in the best interests of the Fund and its other shareholders.

You may open a new account in a closed Fund only if that account meets the Fund’s other criteria (for example, minimum initial investment) and:

you are already a shareholder (in your own name or as beneficial owner of shares held in someone else’s name) (for example, a nominee, custodian or omnibus account holding shares for the benefit of an investor would not be eligible to open a new account for its own benefit or for the benefit of another customer, but the investor would be eligible to open a new account) in that Fund;
you are a shareholder with combined balances of $100,000 in any of the Artisan Funds (in your own name or as beneficial owner of shares held in someone else’s name);
you receive shares of a closed Fund as a gift from an existing shareholder of the Fund (additional investments generally are not permitted unless you are otherwise eligible to open an account under one of the other criteria listed);
your business or other organization is already a shareholder of the Fund and you are opening an account for an employee benefit plan sponsored by that organization or an affiliated organization;
you are transferring or “rolling over” into a Fund IRA account from an employee benefit plan through which you held shares of the Fund (if your plan doesn’t qualify for rollovers you may still open a new account with all or part of the proceeds of a distribution from the plan);
you are an employee benefit plan or other type of corporate or charitable trust account sponsored by or affiliated with an organization that also sponsors or is affiliated with (or is related to an organization that sponsors or is affiliated with) another employee benefit plan or corporate or charitable trust account that is a shareholder of the Fund;
you are a director or officer of Artisan Funds, or a partner or employee of Artisan Partners or its affiliates, or a member of the immediate family of any of those persons;
you are a client of Artisan Partners or you have an existing business relationship with Artisan Partners and, in the judgment of Artisan Partners, your investment in the Fund would not adversely affect Artisan Partners’ ability to manage the Fund effectively;
you are a client of a financial advisor or a financial planner, or an affiliate of a financial advisor or financial planner, who has at least $500,000 of client assets invested with the Fund or at least $1,000,000 of client assets invested with Artisan Funds at the time of your application;
you are purchasing Fund shares through a sponsored fee-based program and shares of the Fund are made available to that program pursuant to an agreement with Artisan Funds or Artisan Partners Distributors LLC and Artisan Funds or Artisan Partners Distributors LLC has notified the sponsor of that program, in writing, that shares may be offered through such program and has not withdrawn that notification; or
you are a client of an institutional consultant and Artisan Funds or Artisan Partners Distributors LLC has notified that consultant in writing that you may invest in the Fund.

An employee benefit plan that is a Fund shareholder may continue to buy shares in the ordinary course of the plan’s operations, even for new plan participants.

In order to further limit the growth of assets of Artisan International Small Cap Fund, Artisan Mid Cap Fund, Artisan Mid Cap Value Fund and Artisan Small Cap Value Fund, the Funds will not accept most new accounts for employee benefit plans (including 401(k) and certain other types of defined contribution plans) that expect to have increasing assets over time, except in the circumstances described as follows and certain other limited circumstances. Those Funds will accept new accounts for an employee benefit plan if the employee benefit plan is sponsored by an organization that also sponsors (or is affiliated with a sponsor of) another plan that is currently a Fund shareholder, or in the case of certain plan or corporate acquisitions, spin-offs or reorganizations, or similar circumstances. In addition, Artisan Mid Cap Fund will accept new accounts for an employee benefit plan if the plan is a client of an institutional consultant that has an existing business relationship with Artisan Partners or Artisan Funds and Artisan Funds or Artisan Partners Distributors LLC has notified that consultant in writing that the plan may invest in the Fund.

The Funds may ask you to verify that you meet one of the guidelines above prior to permitting you to open a new account in a closed Fund. The Funds may permit you to open a new account if the Funds reasonably believe that you are eligible. A Fund also may decline to permit you to open a new account if the Fund believes that doing so would be in the best interests of the Fund and its shareholders, even if you would be eligible to open a new account under these guidelines.

The Funds’ ability to impose the guidelines above with respect to accounts held by financial intermediaries may vary depending on the systems capabilities of those intermediaries, applicable contractual and legal restrictions and cooperation of those intermediaries.

Call us at 800.344.1770 if you have questions about your ability to invest in a closed Fund.

Investing in a Closed Fund FAQ's

For the main Investing in a Closed Fund page, click here.

Click on a question to go directly to its answer.

May existing shareholders make additional purchases into their established accounts after a Fund closes to new investors?

Will you totally close a Fund and not accept additional purchases from existing shareholders?

Will a closed Fund accept any new accounts?

Who is eligible to open a new account in a closed Fund?

When did Artisan close the Small Cap Value, Mid Cap, International Small Cap, Small Cap, and Mid Cap Value Funds?

Q.	May existing shareholders make additional purchases into their established accounts after a Fund closes to new investors?
A.	Yes, existing shareholders may make additional purchases into their established accounts after a Fund closes to new investors and may continue to reinvest dividends and capital gain distributions. Also, an employee benefit plan, such as a 401(k) or pension plan, that is a Fund shareholder may continue to buy shares in the ordinary course of the plan's operations, including shares for new plan participants.

Q.	Will you totally close a Fund and not accept additional purchases from existing shareholders?
A.	It is possible that a Funds' assets could reach a level at which we would consider additional restrictions to purchasing shares, including additional investments from existing shareholders.

Q.	Will a closed Fund accept any new accounts?
A.	A closed Fund may accept new accounts from investors who satisfy the eligibility requirements discussed in the prospectus, in the section titled "Who is Eligible to Invest in a Closed Artisan Fund?"

Q.	Who is eligible to open a new account in a closed Fund?
A.	Please see Investing in a Closed Fund for eligibility requirements.

Q.	When did Artisan close the Small Cap Value, Mid Cap, International Small Cap, and Mid Cap Value Funds?
A.	Artisan Small Cap Value Fund closed to most new investors on June 30, 2000, Artisan Mid Cap Fund closed to most new investors on March 11, 2002, Artisan International Small Cap Fund closed to most new investors on September 26, 2003, and Artisan Mid Cap Value Fund closed to most new investors on July 10, 2009.

Prospectus

Comments | 800.344.1770