For important fund performance and disclosures, see below. Average Annual Total Returns (as of 6/30/10):

Artisan International Value Fund – ARTKX (Inception 9/23/02): 14.19% (1YR), -6.41% (3YR), 5.71% (5YR), 14.25% (Since Inception). MSCI EAFE® Index: 5.92% (1YR), -13.38% (3YR), 0.88% (5YR), 8.14% (Since Inception). MSCI EAFE® Value Index: 3.21% (1YR), -15.11% (3YR), 0.01% (5YR), 8.69% (Since Inception). Expense ratio for Artisan International Value Fund 1.27% for the fiscal year ended 30-Sep-09.

Artisan Global Value Fund – ARTGX (Inception 12/10/07): 16.83% (1YR), -5.90% (Since Inception). MSCI All Country World Index^SM: 11.76% (1YR), -13.82% (Since Inception).

For the fiscal year ended 30-Sep-09 Artisan Global Value Fund’s gross expense ratio is 2.17%. The net expense ratio is 1.51%, which until 12/1/09 reflected Artisan Partners’ voluntary undertaking to limit the Fund’s expenses, which could have been terminated at any time, was in effect since the Fund’s inception and has had a material impact of the Fund’s performance. As of 12/1/09, the Fund entered into a contractual agreement with Artisan Partners, under which Artisan Partners agreed to limit Fund expenses to 1.50% of its average daily net assets through 2/1/2011.

Source: Artisan Partners/MSCI.

The performance quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For current to most recent performance information, call 800.344.1770 or click here. Artisan Global Value Fund’s performance information reflects Artisan Partners’ agreement to limit the Fund’s expenses and has had a material impact on the Fund’s performance, which would have been lower in its absence. The Fund’s performance information shown does not reflect the deduction of a 2% redemption fee on shares held by an investor for 90 days or less and, if reflected, the fee would reduce the performance quoted.

Investors should consider carefully before investing the Fund’s investment objective, risks and charges and expenses. For a prospectus or summary prospectus, which contains that information and other information about the Funds, please call us at 800.344.1770. Please read the prospectus or summary prospectus carefully before you invest or send money.

Value securities may underperform other asset types during a given period. International investments involve special risks, including currency fluctuation, lower liquidity, different accounting methods and economic and political systems, and higher transaction costs. These risks typically are greater in emerging markets. Securities of small and medium-sized companies tend to be more volatile and less liquid than those of large companies, may have underperformed the securities of large companies during some periods and tend to have a shorter history of operations than large companies.

A mutual fund’s NAV is the value of a single share and is computed daily using closing prices as of the NYSE closing time — usually 4:00 p.m. Eastern Time, but sometimes earlier. Securities for which prices are not readily available (such as when there are significant changes in one or more U.S. market indices) are valued at a fair value under the Funds’ Valuation Procedures as described in the Funds’ prospectus. When fair value pricing is employed, the value of a portfolio security used by the Fund to calculate its NAV may differ from (and consequently be higher or lower than) quoted or published prices for the same security. Fair value pricing is not employed by market indices.

Quotations of mutual fund performance are calculated using NAV and may be impacted by fair value pricing.

The MSCI EAFE® Index is an index of companies in developed markets, excluding the U.S. and Canada. The MSCI EAFE® Value Index is an index of companies in developed markets, excluding the U.S. and Canada, that exhibit value investment style characteristics according to MSCI’s methodology. MSCI ACWI (All Country World) Index^SM is an index designed to measure equity market performance in the global developed and emerging markets. All indices are unmanaged, market-weighted indices whose returns include net reinvested dividends but, unlike the Fund’s returns, do not reflect the payment of sales commissions or other expenses incurred in the purchase or sale of the securities included in the indices. An investment cannot be made directly into an index.

This video represents the views of the portfolio manager as of 7/13/10. Those views may change, and the Funds disclaim any obligation to advise investors of such changes. For the purpose of determining the Funds’ holdings, securities of the same issuer are aggregated to determine the weight in the Funds. The holdings mentioned above comprise the following percentages of the Funds’ total net assets (including all classes of shares) as of 6/30/10: Artisan International Value Fund: Unilever PLC 3.0%; Royal Dutch Shell PLC 2.0%; Total SA 2.4%; Experian PLC 5.4%; Signet Jewelers Ltd 4.1%; Arch Capital Group Ltd 4.0%; Covidien PLC 3.9%; Tyco Electronics Ltd 3.7%. Artisan Global Value Fund: Unilever PLC 3.3%; Royal Dutch Shell PLC 1.1%; Total SA 0.9%; Experian PLC 5.0%; Signet Jewelers Ltd 4.7%; American Express Co 4.3%; Johnson & Johnson 3.6%; The Bank of New York Mellon Corp 3.3%. Securities named in the discussion above, but not listed here are not held in the Funds as of the date of this report. Portfolio holdings are subject to change without notice and are not intended as recommendations of individual securities.

The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used to create any financial instruments or products or any indices. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages.