Artio™ US Smallcap Fund

Share Class	Ticker Symbol	CUSIP	Category	Investment Minimum†	Benchmark
A	JSCAX	04315J787	US Smallcap Equity	$1,000	Russell 2000 Index
I	JSCIX	04315J779	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: US Smallcap (month)

Commentary: US Equities (quarter)

Reprints/Replays

Reprint: Funds with the Best Returns. Kiplinger's Personal Finance.  March 2010.

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 whose market capitalization at the time of purchase falls (i) within the market capitalization rage of companies within the Russell 2000 Index or (ii) below the three year average maximum market capitalization of companies in the Russell 2000 Index as of December 31 of the three preceding years. 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 8/31/10

Share Class	1 Mo	3 Mo	YTD	1 Yr	3 Yr*	5 Yr*	10 Yr*	Since Inception*	Inception Date
A	-6.90	-11.31	-6.60	3.23	-3.41	-	-	3.24	07/24/06
I	-6.85	-11.13	-6.35	3.57	-3.08	-	-	3.57	07/24/06
* 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	-8.94	-14.15	-4.11	25.14	-2.03	-	-	4.08	07/24/06
I	-8.89	-14.07	-3.98	25.46	-1.75	-	-	4.39	07/24/06
* Annualized

 

Annual Performance (%)

Share Class	2009	2008	2007	2006	2005	2004	2003	2002	2001	Inception Date
A	64.41	-42.48	11.31	15.96¹	N/A	N/A	N/A	N/A	N/A	07/24/06
I	65.01	-42.38	11.71	16.11¹	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.

Morningstar Ratings as of 6/30/10

Share Class	Overall	3 Yr	5 Yr	10 Yr
A			N/A	N/A
I			N/A	N/A

Morningstar rated this Fund among 666 US Small Growth Funds for the overall and 3-year periods, 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: 7/24/06–6/30/10^†)

† 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 stated in the prospectus dated 3/1/10

Share Class	Sales Load†	Gross Expense Ratio	Net Expense Ratio
A	No-load	2.89	1.51¹
I	No-load	2.60	1.21¹
† 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 2/27/11. 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 fee waivers.

 

Prospectus

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

Commentary

Copyright 2010 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.)

Prospectus

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 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 - 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 ($)		Distribution ($)
2009	12/28/09	12/29/09	12/30/09		0.0		0.0	0.0		0.0
2008	N/A	N/A	N/A		0.0		0.0	0.0		0.0
2007	12/26/07	12/27/07	12/28/07		0.0		1.92886	1.02719		2.95605
2006	12/26/06	12/27/06	12/27/06		0.0		0.1782	0.0		0.1782

 

Distributions-Class I

					Income		Capital Gains			Total
Year	Record Date	Ex-dividend Date	Payable Date		Distribution ($)		Short Term ($)	Long Term ($)		Distribution ($)
2009	12/28/09	12/29/09	12/30/09		0.0		0.0	0.0		0.0
2008	N/A	N/A	N/A		0.0		0.0	0.0		0.0
2007	12/26/07	12/27/07	12/28/07		0.0		1.98650	1.02719		3.01369
2006	12/26/06	12/27/06	12/27/06		0.00563		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") generally 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 not constrained by a particular investment style and may invest in "growth" or "value" securities.

Normally, the Fund will invest at least 80% of its net assets (including equity related futures, options, swaps, equity related instruments and borrowings for investment purposes) in equity securities and other securities with equity characteristics of US small capitalization (“smallcap”) companies as determined at the time of purchase. The Fund may also engage in active and frequent trading of portfolio securities to achieve its investment objective.

Generally, the Adviser will select securities of companies whose market capitalization at the time of purchase falls (i) within the market capitalization range of companies within the Russell 2000 Index or (ii) within the range of the three year average minimum and maximum market capitalizations of companies in the Russell 2000 Index as of December 31 of the three preceding years.

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 and derivatives risk.