Artio™ International Equity Fund (Closed to new investors)

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 certain investors; eligibility details are available in the prospectus. The Fund permits complex-wide aggregation of Class I shares so that a shareholder can meet the minimum initial investment in any one Fund if they have $1 million combined investment in the Fund complex. For additional information, please refer to the prospectus. 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

Commentary

Country Diversification

Investment Managers

	Rudolph-Riad Younes has been the firm’s Head of International Equities since 2001. Throughout his tenure, he has regularly been recognized by several industry publications. In 2002 he was named Morningstar Fund Manager of the Year1 in the international stock manager category. He is a three-time winner (2003 - 2005) of the Standard & Poor’s/BusinessWeek Excellence in Fund Management2 award in the international equity category. In 2009, Riad was named Equity Manager of the Year3 by Money Management Letter. He started with the company in 1993 as a portfolio manager and serves as Co-Portfolio Manager of the International Equity Fund and International Equity Fund II. Prior to joining the firm, Mr. Younes 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 Bachelor of Science and 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.
	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 Fixed Income 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.

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.

Strategy Overview

The International Equity Fund is currently closed to new investors. The Fund primarily invests outside the United States in issuers of all sizes. The Adviser manages the Fund using a core approach and is not constrained by a particular investment style, investing in both "growth" and "value" securities. The investment process places thinking before screening and uses a variety of strategies to analyze industries, sectors and regions and generally utilizes a bottom-up analysis in developed markets and a top-down approach in emerging markets. Japan is treated as a hybrid of the two.

 

Month-end Performance (%) as of 4/30/12

Share Class	1 Mo	3 Mo	YTD	1 Yr	3 Yr*	5 Yr*	10 Yr*	Since Inception*	Inception Date
A	-0.20	4.21	12.08	-19.79	7.21	-7.24	5.83	7.27	10/04/93
I	-0.16	4.27	12.20	-19.58	7.49	-7.01	6.14	5.03	11/17/99
* Annualized

 

Quarter-end Performance (%) as of 3/31/12

Share Class	1 Mo	3 Mo	YTD	1 Yr	3 Yr*	5 Yr*	10 Yr*	Since Inception*	Inception Date
A	-0.80	12.31	12.31	-15.97	11.42	-6.29	6.12	7.31	10/04/93
I	-0.78	12.38	12.38	-15.77	11.68	-6.07	6.43	5.08	11/17/99
* Annualized

 

Annual Performance (%)

Share Class	2011	2010	2009	2008	2007	2006	2005	2004	2003	Inception Date
A	-23.50	8.52	23.34	-43.87	17.56	31.75	17.05	23.22	35.92	10/04/93
I	-23.34	8.82	23.64	-43.74	17.84	32.07	17.40	23.58	36.46	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 3/31/12

Share Class	Overall	3 Yr	5 Yr	10 Yr
A
I

Morningstar rated this Fund among 726, 726, 552 and 316 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: 3/31/02–3/31/12^†)

† 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 International Equity Fund today. No adjustment has been made for shareholder tax liability on dividends or capital gains distributions.

Fees (%) as stated in the prospectus dated 3/1/12

Share Class	Sales Load†	Gross Expense Ratio	Net Expense Ratio
A	No-load	1.30	1.29¹
I	No-load	1.05	1.05¹
† While the Fund is no-load, management and distribution fees and other expenses still apply. 1. From January 1 to February 28, more current information may also be found in the Financial Highlights section of the Fund's Annual Report dated October 31. Net expenses of the Fund reflect a waiver of fees by the Fund's Investment Adviser. Additional expenses are net of reductions related to custody offset arrangements.

 

Prospectus (PDF)
(XBRL available on Literature Summary)

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

Commentary

Copyright 2012 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 (PDF)
(XBRL available on Literature Summary)

Statement of Additional Information (SAI)

Annual Report (fiscal year end 10/31/11)

Semi-annual Report (fiscal period ending 4/30/11)

Form NQ (as of 1/31/12)

Holdings Report (as of 1/31/12) Holdings are subject to change and should not be considered a recommendation to buy or sell any security.

Holdings Report (as of 12/31/11) Holdings are subject to change and should not be considered a recommendation to buy or sell any security.

Holdings Report (as of 11/30/11) 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 Institutional Shareholder Services (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 (ISS). The Funds have thus adopted ISS's policies as their own.

Privacy Policy

Artio Global Funds' 2011 Final Distributions

ICI Primary for the Artio Global Funds Year-end Distributions

Supplemental Tax Information for the Artio Global Funds

 

Distributions-Class A

					Income		Capital Gains			Total
Year	Record Date	Ex-dividend Date	Payable Date		Distribution ($)		Short Term ($)	Long Term ($)		Distribution ($)
2011	12/27/11	12/28/11	12/29/11		0.39303		0.0	0.0		0.39303
2010	12/28/10	12/29/10	12/30/10		0.50500		0.0	0.0		0.50500
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 ($)		Distribution ($)
2011	12/27/11	12/28/11	12/29/11		0.47972		0.0	0.0		0.47972
2010	12/28/10	12/29/10	12/30/10		0.58767		0.0	0.0		0.58767
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

 

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 circumstances, the Fund will invest at least 80% of its net assets (including equity related futures, options, swaps and other instruments as well as borrowings for investment purposes) in equity securities of issuers located anywhere in the world, normally excluding the US. 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, non-deliverable forwards, options, options on futures, swaps, warrants and structured notes. From time to time, the Fund’s investments in derivatives may be significant.

The Fund may also invest in precious metal-related instruments (such as gold, silver, platinum and palladium), including (i) the equity securities of companies that explore for, extract, process or deal in precious metals, and related options or warrants thereof, (ii) asset-based securities indexed to the value of such metals, such as ETFs, and related options thereof (iii) precious metal related structured notes, futures and options on futures, swaps, and (iv) commodity pools and other indirect investments in precious metals (collectively “precious metal-related instruments”). The Fund may invest up to 20% of its net assets in a wholly-owned subsidiary of the Fund formed in the Cayman Islands.

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, redemption risk, subsidiary risk, smaller company risk, liquidity risk, foreign currency transaction risk, foreign investment risk, custody/sub-custody risk, precious metals-related instruments risk and regulatory risk. The Fund may substantially increase its use of derivatives in response to unusual market conditions.