Performance

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PERFORMANCE  

For index comparison information, please click on the respective Fund name.
  Average Annual Total Returns
Artisan Funds Investor Share Class YTD2 3 Mo2 1 Yr 3 Yr 5 Yr 10 Yr Since
Inception
1
Global Equity 10.63% 10.63% 25.85% 16.05% n/a n/a 15.90%
Global Opportunities 5.77% 5.77% 13.56% 16.19% n/a n/a 10.81%
Global Value 8.77% 8.77% 18.54% 13.27% 9.07% n/a 6.35%
International 6.02% 6.02% 15.11% 10.23% 1.77% 11.60% 10.06%
International Small Cap 6.39% 6.39% 21.80% 12.35% 3.74% 16.93% 14.43%
International Value 7.54% 7.54% 18.69% 11.87% 7.51% 15.71% 15.11%
Mid Cap 8.71% 8.71% 7.53% 16.28% 10.06% 12.27% 13.89%
Mid Cap Value 16.31% 16.31% 18.43% 15.19% 10.39% 14.13% 11.72%
Small Cap 11.86% 11.86% 12.68% 18.25% 9.94% 11.33% 8.32%
Small Cap Value 8.40% 8.40% 4.59% 7.41% 7.20% 11.94% 10.06%
Value 11.27% 11.27% 13.30% 12.22% 5.70% n/a 5.46%
 
Artisan Funds Advisor Share Class YTD2 3 Mo2 1 Yr 3 Yr 5 Yr 10 Yr Since
Inception
1
Emerging Markets              
Advisor Shares –4.20% –4.20% –2.87% –2.78% n/a n/a –5.28%
Linked Institutional and Advisor Shares3 n/a n/a n/a n/a –4.18% n/a 5.31%

1Fund Inception dates: Artisan Global Equity Fund 3/29/10, Artisan Global Value Fund 12/10/07, Artisan Global Opportunities Fund - 9/22/08, Artisan International Fund - 12/28/95, Artisan International Small Cap Fund - 12/21/01, Artisan International Value Fund - 9/23/02, Artisan Mid Cap Fund - 6/27/97, Artisan Mid Cap Value Fund - 3/28/01, Artisan Small Cap Fund - 3/28/95, Artisan Small Cap Value Fund - 9/29/97, Artisan Value Fund - 3/27/06 and Artisan Emerging Markets (Advisor Shares 6/2/08) (Institutional Linked 6/26/06).
2Returns for periods less than one year are not annualized.
3Performance data shown relates to the Advisor Shares from 6/2/08 forward and for Institutional Shares prior to 6/2/08. Performance of the Institutional shares does not reflect higher expenses associated with the Advisor Shares, and if reflected, would reduce the performance quoted.

The performance quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in an Artisan 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. Returns for periods less than one year are not annualized. Emerging Markets, Global Equity, Global Value, Global Opportunities, International, International Small Cap and International Value Funds' performance information shown does not reflect the deduction of a 2% redemption fee on shares held by an investor for 90 days or less and, if reflected, the fee would reduce the performance quoted. Artisan Global Equity Fund's investments in initial public offerings (IPOs) made a material contribution to the Funds’ performance. IPO investments are not an integral component of the Funds’ investment process and may not be available in the future. Emerging Markets, Global Equity, Global Value and Global Opportunities Funds’ performance information reflects Artisan Partners' agreement to limit the Funds’ expenses and has had a material impact on the Funds’ performance, which would have been lower in its absence.

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 are therefore impacted by fair value pricing.

 
Expense Ratio For the fiscal year ended 9/30/12.
Fund Expense Ratio Type of Ratio Additional
Disclosures
Emerging Markets Fund 1.49% / 1.48% Indirect / Direct Disclosure
Global Equity Fund 1.50% / 3.05% Subsidized / Unsubsidized Disclosure
Global Opportunities 1.34%   Disclosure
Global Value Fund 1.52% / 1.53% Subsidized / Unsubsidized Disclosure
International Fund 1.19%  
International Small Cap Fund 1.50%  
International Value Fund 1.22% / 1.17% Indirect / Direct Disclosure
Mid Cap Fund 1.33% / 1.22% Indirect / Direct Disclosure
Mid Cap Value Fund 1.20%  
Small Cap Fund 1.53% / 1.28% Indirect / Direct Disclosure
Small Cap Value Fund 1.23% / 1.22% Indirect / Direct Disclosure
Value Fund 1.06%  


Expense Ratio Disclosure

Emerging Markets Fund

The Fund's direct operating expenses are 1.48% which are reflected in the fund's "Financial Highlights" in the statutory prospectus and financial statements. The expense ratio noted above includes "Acquired Fund Fees and Expenses," which are indirect expenses the Fund may incur from investing in an investment company (acquired fund); such indirect expenses are not paid from the fund's assets but are reflected in the return realized by the fund on its investment in the acquired funds.


Global Equity Fund

Artisan Global Equity Fund's gross expense ratio is 3.05%. The Fund’s net expense ratio is 1.50%. 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-14, at which time Artisan Partners will determine whether to renew, revise or discontinue it.


Global Opportunities

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-14, at which time Artisan Partners will determine whether to renew, revise or discontinue it.


Global Value Fund

Artisan Global Value Fund's gross expense ratio is 1.53%. 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-14, at which time Artisan Partners will determine whether to renew, revise or discontinue it.


International Value Fund

The Fund's direct operating expenses are 1.17% which is reflected in the Fund's "Financial Highlights" in the statutory prospectus and financial statements. The expense ratio noted above includes "Acquired Fund Fees and Expenses," which are indirect expenses the Fund may incur from investing in an investment company (acquired fund); such indirect expenses are not paid from the fund's assets but are reflected in the return realized by the fund on its investment in the acquired funds.


Mid Cap Fund

The Fund's direct operating expenses are 1.22% which is reflected in the Fund's "Financial Highlights" in the statutory prospectus and financial statements. The expense ratio noted above includes "Acquired Fund Fees and Expenses," which are indirect expenses the Fund may incur from investing in an investment company (acquired fund); such indirect expenses are not paid from the fund's assets but are reflected in the return realized by the fund on its investment in the acquired funds.


Small Cap Fund

The Fund's direct operating expenses are 1.28% which is reflected in the Fund's "Financial Highlights" in the statutory prospectus and financial statements. The expense ratio noted above includes "Acquired Fund Fees and Expenses," which are indirect expenses the Fund may incur from investing in an investment company (acquired fund); such indirect expenses are not paid from the fund's assets but are reflected in the return realized by the fund on its investment in the acquired funds.


Small Cap Value Fund

The Fund's direct operating expenses are 1.22% which is reflected in the Fund's "Financial Highlights" in the statutory prospectus and financial statements. The expense ratio noted above includes "Acquired Fund Fees and Expenses," which are indirect expenses the Fund may incur from investing in an investment company (acquired fund); such indirect expenses are not paid from the fund's assets but are reflected in the return realized by the fund on its investment in the acquired funds.




Important Fund Risks

Emerging Markets 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. Such risks include new and rapidly changing political and economic structures, which may cause instability; underdeveloped securities markets; and higher likelihood of high levels of inflation, deflation or currency devaluations. 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. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.


Global Equity 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 small- and medium-sized companies tend to have a shorter history of operations, be more volatile and less liquid and may have underperform securities of large companies during some periods. Growth securities may underperformed other asset types during a given period. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.


Global Opportunities 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 have a shorter history of operations, be more volatile and less liquid and may have underperformed securities of large companies during some periods. Growth securities may underperform other asset types during a given period. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.


Global 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 have a shorter history of operations, be more volatile and less liquid and may have underperformed securities of large companies during some periods. Value securities may underperformed other asset types during a given period. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.


International 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 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. Growth securities may underperform other asset types during a given period. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.


International Small Cap 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 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. Growth securities may underperform other asset types during a given period. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.


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 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. Value securities may underperform other asset types during a given period. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.


Mid Cap 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 have a shorter history of operations, be more volatile and less liquid and may have underperformed securities of large companies during some periods. Growth securities may underperform other asset types during a given period. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.


Mid Cap Value Fund

Securities of 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. Value securities may underperform other asset types during a given period. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.


Small Cap 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 small 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. Growth securities may underperform other asset types during a given period. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.


Small Cap Value Fund

Securities of small 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. Value securities may underperform other asset types during a given period. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.


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 have a shorter history of operations, be more volatile and less liquid and may have underperformed securities of large companies during some periods. Value securities may underperform other asset types during a given period. These risks are discussed in the prospectus. Please read it carefully before you invest or send money.




 
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