Artio US Smallcap Fund

Share Class	Ticker Symbol	CUSIP	Category	Investment Minimum†	Benchmark
A	JSCAX	481370849	US Smallcap Equity	$1,000	Russell 2000 Index
I	JSCIX	481370831	US Smallcap Equity	$1 million	Russell 2000 Index
† Represents the minimum initial investment for regular accounts. 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, Sector Allocation, Top Ten Equity Holdings

Commentary

Investment Objective

The Artio US Smallcap Fund ("US Smallcap Fund" or "Fund") seeks to achieve long-term growth of capital.

Who Should Invest

The US Smallcap Fund may be a good choice for investors who are pursuing long-term growth of capital through investment in a diversified portfolio of US equity securities of small-capitalization companies within the range of the Russell 2000 Index, at the time of purchase. The Adviser manages the Fund as a core domestic equity product and is not constrained by a particular investment style investing in both "growth" and "value" securities. Investments are selected based on an active fundamental process which combines financial analysis and first-hand company meetings to evaluate potential investments' management and long-term outlook and business strategies. The Fund offers investors more targeted access to investments focused on small-capitalization US companies and may complement a diversified US equity portfolio.

Investment Manager

Samuel Dedio joined Artio Global Management LLC's predecessor organization, Julius Baer, in 2006 as a Senior Portfolio Manager focusing on US micro, small and midcap equities. Prior to this, he spent six years at Deutsche Asset Management, most recently as Managing Director, Lead Portfolio Manager and Head of US Small and Midcap Investment Management. His previous positions also include Senior Industry Analyst at Ernst & Young, LLP and Equity Analyst with both Evergreen Asset Management and Standard & Poor's Corp. Samuel received a Masters of Science in Accounting from American University's Kogod School of Business and a BA in Business Administration from William Paterson University.

Month-end Performance (%) as of 11/30/08

Share Class	1 Mo	3 Mo	YTD	1 Yr	3 Yr*	5 Yr*	10 Yr*	Since Inception*	Inception Date
A	-13.45	-38.68	-44.01	-44.01	N/A	N/A	N/A	-12.88	07/24/06
I	-13.43	-38.63	-43.91	-43.87	N/A	N/A	N/A	-12.63	07/24/06
* Annualized

 

Quarter-end Performance (%) as of 9/30/08

Share Class	1 Mo	3 Mo	YTD	1 Yr	3 Yr*	5 Yr*	10 Yr*	Since Inception*	Inception Date
A	-9.42	-4.72	-17.30	-18.13	N/A	N/A	N/A	3.02	07/24/06
I	-9.41	-4.60	-17.20	-17.91	N/A	N/A	N/A	3.32	07/24/06
* Annualized

 

Annual Performance (%)

Share Class	2007	2006	2005	2004	2003	2002	2001	2000	1999	Inception Date
A	11.31	15.96¹	N/A	N/A	N/A	N/A	N/A	N/A	N/A	07/24/06
I	11.71	16.11¹	N/A	N/A	N/A	N/A	N/A	N/A	N/A	07/24/06
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.

Growth of a $10,000 Investment

(Class A Shares: 7/24/06–6/30/08^†)

† Hypothetical illustration of $10,000 invested for the above referenced period assuming reinvestment of dividends and capital gains distributions. This period was one in which stock and bond prices fluctuated and the results should not be considered as a representation of dividend income or capital gain or loss which may be realized from an investment in the US Smallcap Fund today. No adjustment has been made for shareholder tax liability on dividends or capital gains distributions.

Fees (%) as of 2/29/08

Share Class	Sales Load†	Gross Expense Ratio	Net Expense Ratio¹
A	No-load	2.98	1.51
I	No-load	2.80	1.21
† While the Fund is no-load, management and distribution fees and other expenses still apply. 1. Due to the start-up costs associated with launching a new fund and the time it takes to obtain sufficient scale, the Investment Adviser has contractually agreed to reimburse certain expenses of the Fund through 2/29/09. Additionally, expenses are net of reductions related to fee waivers.

 

Prospectus

Fact Sheet: Performance (fund and benchmark), Portfolio Characteristics, Sector Allocation, Top Ten Equity Holdings

Commentary

Prospectus

Statement of Additional Information (SAI)

Annual Report (fiscal year end 10/31/08)

Semi-annual Report (fiscal period ending 4/30/08)

Form NQ (as of 7/31/08)

Holdings Report 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 - Global: Artio Global Management LLC, the Adviser for the Artio Global Funds, has outsourced its proxy voting to Institutional Shareholder Services, Inc. (ISS). The Funds have thus adopted ISS'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 Institutional Shareholder Services, Inc. (ISS). The Funds have thus adopted ISS's policies as their own.

Distributions-Class A

	Income		Capital Gains
Year	Total Distribution ($)		Record Date	Ex-dividend Date	Short Term ($)	Long Term ($)	Total Distribution ($)
2008	0.0		12/26/08	12/29/08	0.0	0.0	0.0
2007	0.0		12/26/07	12/27/07	1.92886	1.02719	2.95605
2006	0.0		12/26/06	12/27/06	0.1782	0.0	0.1782

 

Distributions-Class I

	Income		Capital Gains
Year	Total Distribution ($)		Record Date	Ex-dividend Date	Short Term ($)	Long Term ($)	Total Distribution ($)
2008	0.0		12/26/08	12/29/08	0.0	0.0	0.0
2007	0.0		12/26/07	12/27/07	1.98650	1.02719	3.01369
2006	0.00563		12/26/06	12/27/06	0.1782	0.0	0.18383

 

ICI Primary for the Artio Global Funds Year-end Distributions

Principal Strategies

The US Smallcap Fund invests in a broad range of stocks and other securities issued primarily within the United States. Stocks are selected using an active fundamental process which combines financial analysis with first-hand company meetings and on-site visits to evaluate management teams and their strategies. Artio Global Management LLC (the "Adviser" or "Artio Global"—formerly Julius Baer Investment Management LLC) uses a "bottom-up" approach when recommending and selecting securities, focusing on individual stock selection rather than attempting to time the highs and lows of the market or concentrating investments in certain sectors or industries. The Fund is managed as a core domestic equity product and may invest in "growth" or "value" securities and is not constrained by a particular investment style.

The small capitalization equity universe is broadly defined as including companies that are in the bottom 15% of the total domestic equity market capitalization (share price times the number of shares outstanding). Generally, securities of companies within the market capitalization range of companies in the Russell 2000 Index will be considered.

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 US Smallcap Fund, including, but not limited to: stock market risk, smaller companies risk, liquidity risk, foreign investment risk and derivatives risk.