Artio™ US Midcap Fund

Share Class	Ticker Symbol	CUSIP	Category	Investment Minimum†	Benchmark
A	JMDAX	04315J753	US Midcap Equity	$1,000	Russell Midcap Index
I	JMDIX	04315J746	US Midcap Equity	$1 million	Russell Midcap Index
† Represents the minimum initial investment for regular accounts. 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. 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 Manager

Samuel Dedio serves as Head of US Equities at Artio Global Management LLC ("Artio Global"). Prior to joining the firm in 2006, Sam 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.

Investment Objective

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

Strategy Overview

The US Midcap Fund invests in a portfolio of US equity securities whose market capitalization at the time of purchase falls (i) within the market capitalization range of companies within the Russell Midcap Index or (ii) below the three year average maximum market capitalization of companies in the Russell Midcap Index as of December 31 of the three preceding years. The Fund is managed as a core domestic equity product and is not constrained by a particular style, investing in both "growth" and "value" securities. Investments are selected utilizing an active process that combines financial analysis with company meetings to evaluate management and their strategies. The Fund’s analyst team prides itself on conducting extensive, independent research in an effort to gain insight into potential investments. A thorough understanding of each company’s business model and operating environment is achieved through discussions with management, customers, suppliers, merchants and competitors.

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	-2.73	3.86	10.19	1.92	24.05	2.57	-	6.36	07/24/06
I	-2.79	3.91	10.29	2.23	24.41	2.88	-	6.67	07/24/06
* 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	1.52	13.29	13.29	8.20	31.90	4.03	-	6.97	07/24/06
I	1.68	13.45	13.45	8.57	32.28	4.35	-	7.30	07/24/06
* Annualized

 

Annual Performance (%)

Share Class	2011	2010	2009	2008	2007	2006	2005	2004	2003	Inception Date
A	4.82	25.34	49.29	-45.83	2.87	4.11¹	-	-	-	07/24/06
I	5.06	25.70	49.86	-45.69	3.22	4.29¹	-	-	-	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 3/31/12

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

Morningstar rated this Fund among 662, 662 and 595 US Mid-Cap Growth Funds for the overall, 3-, and 5-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: 7/24/06–3/31/12^†)

† 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 US Midcap 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	2.65	1.35¹
I	No-load	2.37	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. The Investment Adviser has contractually agreed to reimburse certain expenses of the Fund through 2/28/13. 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.

 

Prospectus (PDF)
(XBRL available on Literature Summary)

Fact Sheet: Performance (fund and benchmark), Portfolio Characteristics, 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 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 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		0.0		0.0	1.69361		1.69361
2010	12/28/10	12/29/10	12/30/10		0.0		0.0	0.0		0.0
2009	12/28/09	12/29/09	12/30/09		0.00737		0.0	0.0		0.00737
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		0.63729	0.34006		0.97735
2006	12/26/06	12/27/06	12/27/06		0.12822		0.04259	0.00055		0.17136

 

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		0.0		0.0	1.69361		1.69361
2010	12/28/10	12/29/10	12/30/10		0.0		0.0	0.0		0.0
2009	12/28/09	12/29/09	12/30/09		0.02703		0.0	0.0		0.02703
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		0.04056		0.63729	0.34006		1.01791
2006	12/26/06	12/27/06	12/27/06		0.15233		0.04259	0.00055		0.19547

 

Principal Strategies

The US Midcap Fund invests in a broad range of stocks and other securities issued primarily within the United States. 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 mid capitalization (“midcap”) 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 Midcap Index or (ii) within the range of the three year average minimum and maximum market capitalization of companies in the Russell Midcap 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 Midcap Fund, including, but not limited to: stock market risk, mid-sized companies risk, liquidity risk, redemption risk and active trading risk.