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This material represents the views and opinions of the portfolio management team of Artisan Value, Mid Cap Value and Value Income Funds which are subject to change without notice. This material is provided for informational purposes without regard to your particular investment needs. This material should not be construed as investment or tax advice on which you may rely for your investment decisions. Investors should consult their financial and tax adviser before making investments in order to determine the appropriateness of any investment product discussed herein.

The value of portfolio securities selected by the investment team may rise or fall in response to company, market, economic, political, regulatory or other news, at times greater than the market or benchmark index. Dividend payments are not guaranteed and the amount declared, if any, could vary over time. International investments involve special risks that may in particular cause a loss in principal, 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 have a shorter history of operations, be more volatile and less liquid and may have underperformed securities of large companies during some periods. Value securities may underperform other asset types during a given period.

Dividend Yield is a financial ratio that shows how much a company pays out in dividends each year relative to its share price. Spread is the difference in yield between two bonds of similar maturity but different credit quality. Credit Default Swap (CDS) is a financial swap agreement in which the seller of the CDS will compensate the buyer (the creditor of the reference loan) in the event of a loan default (by the debtor) or other credit event.