Artio™ International Equity Fund (Closed to new investors) |
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Overview
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Performance
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Prospectus/Reports
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Distributions/Tax Info
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Strategy & Risks
| Share Class | Ticker Symbol | CUSIP | Category | Investment Minimum† | Benchmark |
|---|---|---|---|---|---|
| A | BJBIX | 04315J407 | International Equity | $1,000 | MSCI ACWI (ex-US) |
| I | JIEIX | 04315J506 | International Equity | $1 million | MSCI ACWI (ex-US) |
| † The Fund is closed to new investors. Existing Class A shareholders may make additional investments in the Fund at a minimum of $1,000, invest in an Individual Retirement Account (IRA) or in a tax-deferred retirement plan other than an IRA for a minimum of $100. | |||||
Fact Sheet: Performance (fund and benchmark), Portfolio Characteristics, Geographic Allocation, Sector Allocation, Top Ten Equity Holdings
Reprints/Replays
Reprint: Lower-Risk Foreign Funds for Retiree Portfolios. Morningstar. June 30, 2010.
Investment Objective
The Artio International Equity Fund ("International Equity Fund" or "Fund") seeks long-term growth of capital. The Fund attempts to meet this goal by investing in a diversified portfolio of equity securities of all sizes issued throughout the world, normally excluding the United States.
Who Should Invest
The International Equity Fund is closed to new investors.
Investment Managers
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Rudolph-Riad Younes, CFA, is a Managing Director and Head of International Equity at Artio Global Management LLC ("Artio Global"). Together with Richard C. Pell, he is the Co-Portfolio Manager of the International Equity Fund and International Equity Fund II. Prior to joining Artio Global's predecessor organization, Julius Baer, in 1993, Riad was an Associate Director at Swiss Bank Corp. Riad holds the Chartered Financial Analyst designation and received an MBA in Management from Yale University and a Master of Science degree in Electrical Engineering from Columbia University. He is fluent in English, Arabic and French and has a working knowledge of German. |
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Richard C. Pell is Chief Investment Officer of Artio Global Management LLC ("Artio Global"). In this capacity, Richard has overall responsibility for the investment process across all strategies and accounts. Concurrently, he serves as Co-Portfolio Manager of the International Equity Fund and International Equity Fund II with partner, Rudolph-Riad Younes. Richard joined Artio Global's predecessor organization, Julius Baer, in 1995 subsequent to his tenure as Head of Global Portfolio Management with Bankers Trust Company, a firm he served for five years. Starting in 1988, he was employed by Mitchell Hutchins Institutional Investors where he served as Head of Corporate Bonds and Mortgage-Backed Securities. Richard earned an MBA in Finance from New York University and a Bachelor of Arts degree in History from the University of California, Berkeley. |
Month-end Performance (%) as of 8/31/10
| Share Class | 1 Mo |
3 Mo |
YTD |
1 Yr |
3 Yr* |
5 Yr* |
10 Yr* |
Since
Inception* |
Inception Date |
|---|---|---|---|---|---|---|---|---|---|
| A | -2.14 | 3.27 | -7.25 | -1.01 | -11.86 | 1.41 | 3.57 | 7.99 | 10/04/93 |
| I | -2.13 | 3.35 | -7.12 | -0.78 | -11.66 | 1.66 | 3.92 | 5.75 | 11/17/99 |
| * Annualized | |||||||||
Quarter-end Performance (%) as of 6/30/10
| Share Class | 1 Mo |
3 Mo |
YTD |
1 Yr |
3 Yr* |
5 Yr* |
10 Yr* |
Since
Inception* |
Inception Date |
|---|---|---|---|---|---|---|---|---|---|
| A | -1.45 | -12.98 | -11.50 | 7.59 | -14.26 | 2.16 | 2.88 | 7.77 | 10/04/93 |
| I | -1.38 | -12.91 | -11.37 | 7.92 | -14.05 | 2.41 | 3.22 | 5.38 | 11/17/99 |
| * Annualized | |||||||||
Annual Performance (%)
| Share Class | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| A | 23.34 | -43.87 | 17.56 | 31.75 | 17.05 | 23.22 | 35.92 | -3.59 | -18.93 | 10/04/93 |
| I | 23.64 | -43.74 | 17.84 | 32.07 | 17.40 | 23.58 | 36.46 | -3.07 | -18.53 | 11/17/99 |
| 1. Partial year—since share class inception | ||||||||||
The performance quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be higher or lower than the performance quoted.
Investment performance reflects fee waivers. In the absence of such waivers, total return would be reduced.
Morningstar Ratings as of 6/30/10
| Share Class | Overall | 3 Yr | 5 Yr | 10 Yr |
|---|---|---|---|---|
| A | ||||
| I |
Morningstar rated this Fund among 655, 655, 473 and 260 Foreign Large Blend Stock Funds for the overall, 3-, 5-, and 10-year periods, respectively, as of the above referenced date (based on risk adjusted total returns). 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 (if applicable) Morningstar Rating™ metrics.
Growth of a $10,000 Investment
(Class A Shares: 6/30/00–6/30/10†)
Fees (%) as stated in the prospectus dated 3/1/10
| Share Class | Sales Load† | Gross Expense Ratio | Net Expense Ratio |
|---|---|---|---|
| A | No-load | 1.27 | 1.21¹ |
| I | No-load | 1.02 | 0.95¹ |
| † While the Fund is no-load, management and distribution fees and other expenses still apply.
1. Reflects a voluntary expense reduction agreement that may be discontinued at any time. The Investment Adviser has also agreed to waive a portion of its management fees; this waiver may be discontinued at any time by the Fund's board. Additional expenses are net of reductions related to custody offset arrangements. |
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Fact Sheet: Performance (fund and benchmark), Portfolio Characteristics, Geographic Allocation, Sector Allocation, Top Ten Equity Holdings
Statement of Additional Information (SAI)
Annual Report (fiscal year end 10/31/09)
Semi-annual Report (fiscal period ending 4/30/10)
Form NQ (as of 1/31/10)
Holdings Report (as of 4/30/10) Holdings are subject to change and should not be considered a recommendation to buy or sell any security.
Holdings Report (as of 3/31/10) Holdings are subject to change and should not be considered a recommendation to buy or sell any security.
Holdings Report (as of 2/28/10) Holdings are subject to change and should not be considered a recommendation to buy or sell any security.
Form N-PX (Annual Report of Proxy Voting)
Proxy Procedures - International: Artio Global Management LLC, the Adviser for the Artio Global Funds, has outsourced its proxy voting to RiskMetrics Group (RMG). The Funds have thus adopted RMG’s policies as their own.
Proxy Procedures - US: Artio Global Management LLC, the Adviser for the Artio Global Funds, has outsourced its proxy voting to RiskMetrics Group (RMG). The Funds have thus adopted RMG's policies as their own.
Press Release: Artio Global Funds’ 2009 final tax distributions
Distributions-Class A
| Income | Capital Gains | Total | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Year | Record Date |
Ex-dividend Date |
Payable Date |
Distribution ($) |
Short Term ($) |
Long Term ($) |
Distribution ($) |
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| 2009 | 12/28/09 | 12/29/09 | 12/30/09 | 2.08191 | 0.0 | 0.0 | 2.08191 | |||
| 2008 | 12/26/08 | 12/29/08 | 12/30/08 | 0.46031 | 0.0 | 0.0 | 0.46031 | |||
| 2007 | 12/26/07 | 12/27/07 | 12/28/07 | 0.71607 | 0.80088 | 4.45552 | 5.97247 | |||
| 2006 | 12/26/06 | 12/27/06 | 12/27/06 | 0.28096 | 1.33423 | 2.83199 | 4.44718 | |||
| 2005 | 12/27/05 | 12/28/05 | 12/28/05 | 0.0 | 0.45185 | 1.12268 | 1.57453 | |||
| 2004 | 12/28/04 | 12/29/04 | 12/30/04 | 0.451859 | 0.34071 | 0.24179 | 1.034359 | |||
Distributions-Class I
| Income | Capital Gains | Total | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Year | Record Date |
Ex-dividend Date |
Payable Date |
Distribution ($) |
Short Term ($) |
Long Term ($) |
Distribution ($) |
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| 2009 | 12/28/09 | 12/29/09 | 12/30/09 | 2.15265 | 0.0 | 0.0 | 2.15265 | |||
| 2008 | 12/26/08 | 12/29/08 | 12/30/08 | 0.56334 | 0.0 | 0.0 | 0.56334 | |||
| 2007 | 12/26/07 | 12/27/07 | 12/28/07 | 0.83118 | 0.80088 | 4.45552 | 6.08758 | |||
| 2006 | 12/26/06 | 12/27/06 | 12/27/06 | 0.38359 | 1.33423 | 2.83199 | 4.54981 | |||
| 2005 | 12/27/05 | 12/28/05 | 12/28/05 | 0.0 | 0.53436 | 1.12268 | 1.65704 | |||
| 2004 | 12/28/04 | 12/29/04 | 12/30/04 | 0.463624 | 0.34071 | 0.24179 | 1.046124 | |||
ICI Primary for the Artio Global Funds Year-end Distributions
Principal Strategies
The International Equity Fund seeks to achieve its goal by investing in a wide variety of international equity securities issued throughout the world, normally excluding the United States.
Under normal circumstance, the Fund will invest at least 80% of its net assets (including futures, options, swaps, other equity related instruments and borrowings for investment purposes) in international equity securities. To achieve its investment goal the Fund may use derivatives to a very substantial extent. The Fund will ordinarily invest at least 65% of its total assets in no fewer than three different countries outside the United States. The Fund is not constrained by a particular investment style, and may invest in "growth" or "value" securities. The Fund generally follows a multi-capitalization approach that focuses on mid- to large-capitalization companies but the Fund may also invest in smaller capitalization companies.
The Fund may invest up to 35% of its total net assets in the securities of issuers located in emerging markets. The Fund's investment in emerging market securities will remain consistent with its status as a diversified international equity fund.
The Fund may invest in derivatives for hedging and non-hedging purposes. Derivatives are financial instruments the value of which is derived from another security, a commodity (such as gold or oil), an index or a currency (a measure of value or rates, such as the S&P 500 Index or the prime lending rate).The Fund typically uses derivatives as a substitute for taking a position in the underlying asset and/or as part of a strategy to reduce risk, such as interest rate risk, currency risk, and price risk. Such derivatives may include, but are not limited to, futures contracts, forward foreign exchange contracts (“forward contracts”), non-deliverable forwards, options, swaps, warrants and structured investments.
Artio Global Management LLC (the "Adviser" or "Artio Global ") uses both a bottom-up and top-down approach to select investments. The Adviser generally uses a bottom up approach that focuses on company specific factors for selecting securities in developed markets. The Adviser generally uses a top-down approach for investments in emerging markets, indices and ETF’s, focusing on economic and geopolitical factors in a given area. The Adviser generally uses a bottom-up and top-down approach in Japan.
Risks
Please read the Fund's risks or consult the Fund's prospectus for more complete information on the special risks associated with investing in the International Equity Fund, including, but not limited to: stock market risk, derivatives risk, emerging markets risk, leveraging risk, below investment grade securities, political risk, smaller company risk, liquidity risk, foreign currency transaction risk, foreign investment risk,custody/sub-custody risk and regulatory risk. The Fund may substantially increase its use of derivatives in response to unusual market conditions.


