FMI Mutual Funds

Barron’s – FMI Value: ‘Just Say No’ – September 17, 2012

As of 04/22/14

FUND NAV PRICE CHANGE DAILY NAV% CHANGE YTD PERFORMANCE MARKET VALUE IN MILLIONS OF DOLLARS
FMIHX $21.35 +$0.06 0.28% 2.35% $8,853.2
FMIMX $29.14 +$0.15 0.52% 1.67% $1,404.1
FMIJX $28.21 +$0.12 0.43% 2.54% $214.4

Annualized Returns for the Month Ending 03/31/14

FUND 1 YEAR 3 YEAR 5 YEAR 10 YEAR OR *SINCE INCEPTION
FMIHX 20.05% 14.18% 19.75% 9.41%
FMIMX 21.96% 13.15% 22.77% 11.20%
FMIJX* 15.14% 13.50% n/a 12.68%*

Annualized Returns for the Quarter Ending 03/31/14

FUND 1 YEAR 3 YEAR 5 YEAR 10 YEAR OR *SINCE INCEPTION
FMIHX 20.05% 14.18% 19.75% 9.41%
FMIMX 21.96% 13.15% 22.77% 11.20%
FMIJX* 15.14% 13.50% n/a 12.68%*

The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Performance data quoted represents past performance; past performance 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. The FMIMX, FMIHX, and FMIJX annual operating expense ratios as of 1-31-13 are 1.20%, 0.96%, and 1.00%.‡

‡ In addition to the reimbursement required under the investment advisory agreement to reimburse FMIJX for expenses in excess of 1.75% of average daily net assets, Fiduciary Management, Inc. will voluntarily reimburse FMIJX for expenses in excess of 1.00% of the Fund’s average daily net assets. Fiduciary Management will not terminate this additional expense reimbursement prior to January 31, 2015.

For more information about the FMI Family of Funds, including fees and expenses, call (800) 811-5311 for a free prospectus or summary prospectus (also available from this website). Please read these prospectuses carefully to consider the investment objectives, risks, charges and expenses before investing or sending money. These prospectuses contain this and more information. Please read these prospectuses carefully before investing.

*Performance Calculated from Inception for:

FMI International Fund (FMIJX) Inception Date – 12/31/10