Carefully consider the Fund's investment objectives, risks and charges and expenses. This and other important information is contained in the Fund's prospectus and summary prospectus, which can be obtained by calling 800.468.1770. Read carefully before investing.
International investments involve special risks, including currency uctuation, 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. Growth securities may underperform other asset types during a given period.
This material (1) represents the views of the manager as of 15 April 2014, is based on current market conditions which will fl uctuate, is subject to change without notice and does not necessarily represent those of Artisan Partners; (2) is believed to be reliable but there is no guarantee to the information's accuracy or completeness; (3) is for informational purposes only and should not be considered as investment advice or a recommendation. Strategy information provided relates to a representative account in the Artisan Non-U.S. Growth Strategy. The holdings mentioned comprised the following percentages of that representative account as of 31 Mar 2014: Linde AG 3.8%; SABMiller PLC 2.4%; Anheuser-Busch InBev NV 2.5%; Unilever NV 2.6%; Nestle SA 3.2%; IHI Corp 1.4%; NGK Insulators Ltd 2.4%; Johnson Matthey PLC 1.5%; Beijing Enterprises
Holdings Ltd 1.8%; Ryanair Holdings PLC 0.7%; Baidu Inc 3.9%; Tencent Holdings Ltd 1.3%. The Global Industry Classifi cation Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. (S&P) and is licensed for use by Artisan Partners. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifi cations makes any express or implied warranties or representations with respect to such standard or classifi cation (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fi tness for a particular purpose with respect to any of such standard or classifi cation. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affi liates or any third party involved in making or compiling the GICS or any GICS classifi cations have any liability for any direct, indirect, special, punitive, consequential or any other damages(including lost profi ts) even if notifi ed of the possibility of such damages. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used to create indices or fi nancial products. This report is not approved or produced by MSCI.
&Copy;2014 Artisan Partners. All rights reserved. For Institutional Investors Only—Not for Onward Distribution