FMI FOCUS FUND (Prospectus Summary) | FMI FOCUS FUND

SUMMARY SECTION

Investment Objective:

FMI Focus Fund (the "Fund") seeks capital appreciation.

Fees and Expenses of the Fund:

The following table describes the fees and expenses that you may pay

if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees (USD $)	FMI FOCUS FUND
Maximum Sales Charge (Load) Imposed on Purchases	none
Maximum Deferred Sales Charge (Load)	none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Distributions	none
Redemption Fee (transfer agent charge of $15 for each wire redemption)	none
Exchange Fee	none

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses	FMI FOCUS FUND
Management Fees	1.00%
Distribution and/or Service (12b-1) Fees	none
Other Expenses	0.26%
Total Annual Fund Operating Expenses	1.26%

Example

This Example is intended to help you compare the cost of investing in the Fund

with the cost of investing in other mutual funds.



The Example assumes that you invest $10,000 in the Fund for the time periods

indicated and then redeem all of your shares at the end of these periods. The

Example also assumes that your investment has a 5% return each year and that the

Fund's operating expenses remain the same.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

Expense Example (USD $)	Expense Example, With Redemption, 1 Year	Expense Example, With Redemption, 3 Years	Expense Example, With Redemption, 5 Years	Expense Example, With Redemption, 10 Years
FMI FOCUS FUND	128	400	692	1,523

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells

securities (or "turns over" its portfolio). A higher portfolio turnover may

indicate higher transaction costs and may result in higher taxes when Fund

shares are held in a taxable account. These costs, which are not reflected in

annual fund operating expenses or in the Example, affect the Fund's

performance. During the most recent fiscal year, the Fund's portfolio turnover

rate was 78% of the average value of its portfolio.

Principal Investment Strategies:

The Fund may invest in stocks of companies of all sizes, but primarily invests

in small- to medium-capitalization (namely, less than $5 billion market

capitalization) United States companies, that have substantial capital

appreciation potential. Many of these companies have little or no following

by the major stock brokerage firms. The Fund looks for stocks of businesses

that are selling at what it believes are substantial discounts to prices that

accurately reflect their future earnings prospects. The Fund takes a "focused"

approach to investing, meaning the Fund conducts extensive research (namely,

focuses) on each prospective investment before purchasing.



The Fund's portfolio managers actively trade the Fund's portfolio. The Fund's

portfolio managers may also use the following investment techniques:



o Effect "short sales" of a security when they think it will decline in value.



o Purchase securities with borrowed funds.



o Purchase put and call options and write call options on securities and stock

indexes.



In reviewing companies, the Fund applies the characteristics identified above on

a case-by-case basis as the order of importance varies depending on the type of

business or industry and the company being reviewed.



The Fund's portfolio managers will generally sell a portfolio security when they

believe:



o The security has achieved its value potential.



o Such sale is necessary for portfolio diversification.



o Changing fundamentals signal a deteriorating value potential.



o Other securities have a better value potential.

Principal Risks:

There is a risk that you could lose all or a portion of your money on your

investment in the Fund. This risk may increase during times of significant

market volatility. The risks below could affect the value of your investment,

and because of these risks the Fund is a suitable investment only for those

investors who have long-term investment goals and a high tolerance for risk:



o Stock Market Risk: The prices of the securities in which the Fund invests may

decline for a number of reasons. The price declines of common stocks, in

particular, may be steep, sudden and/or prolonged. Price changes may occur in

the market as a whole, or they may occur in only a particular company, industry,

or sector of the market.



o Medium Capitalization Companies Risk: Medium capitalization companies tend to

be more susceptible to adverse business or economic events than large

capitalization companies, and there is a risk that the securities of medium

capitalization companies may have limited liquidity and greater price volatility

than securities of large capitalization companies.



o Small Capitalization Companies Risk: Small capitalization companies typically

have relatively lower revenues, limited product lines and lack of management

depth, and may have a smaller share of the market for their products or

services, than large and medium capitalization companies. There is a risk that

the securities of small capitalization companies may have limited liquidity and

greater price volatility than securities of large and medium capitalization

companies, which can negatively affect the Fund's ability to sell these

securities at quoted market prices. Finally, there are periods when investing in

small capitalization company stocks falls out of favor with investors and these

stocks may underperform.



o Value Investing Risk: The Fund's portfolio managers may be wrong in their

assessment of a company's value and the stocks the Fund holds may not reach what

the portfolio managers believe are their full values. From time to time "value"

investing falls out of favor with investors. During these periods, the Fund's

relative performance may suffer.



o Market Timing Risk: Frequent purchases and redemptions of Fund shares by a

shareholder may harm other Fund shareholders by interfering with the efficient

management of the Fund's portfolio, increasing brokerage and administrative

costs, and potentially diluting the value of their shares. However, the Fund's

Board of Directors has determined not to adopt policies and procedures that

discourage frequent purchases and redemptions of Fund shares because the Fund

has not experienced frequent purchases and redemptions of Fund shares that have

been disruptive to the Fund. The Fund's Board of Directors may reconsider its

decision not to adopt policies and procedures if it determines there is unusual

trading in Fund shares.



o Leverage Risk: When our portfolio managers purchase securities with borrowed

funds, they engage in a speculative investment practice called "leverage." When

the Fund engages in "leverage," it has the potential to incur losses greater

than if it had not engaged in leverage.



o Options Writing and Selling Risk: If the Fund purchases an option and the

price of the underlying stock or index moves in the wrong direction, the Fund

will lose most or all of the amount the Fund paid for the option, plus

commission costs. Similarly, the Fund likely will lose money if the underlying

stock or index of a call option it has written increases in value. It is

possible that there may be times when a market for the Fund's outstanding

options does not exist.



o Short Sales Risk: The risk of incurring losses due to an appreciation in value

of a security that was sold short. Losses may incur if a short position is

closed out earlier than the Fund had intended. The potential loss is unlimited.

Performance:

The following bar chart and table provide some indication of the risks of

investing in the Fund by showing changes in the Fund's performance from year

to year and how the Fund's average annual returns over time compare to the

performance of the Russell 2000 Index and the Russell 2000 Growth Index. For

additional information on these indexes, please see "Index Descriptions" in the

Prospectus. The Fund's past performance (before and after taxes) is not

necessarily an indication of how the Fund will perform in the future. Updated

performance information is available on the Fund's website at

http://www.fmifunds.com.

FMI Focus Fund (Annual total return as of 12/31)

Note: During the ten year period shown on the bar chart, the Fund's highest total

      return for a quarter was 25.25% (quarter ended September 30, 2009) and the

      lowest total return for a quarter was -23.77% (quarter ended December 31, 2008).

After-tax returns are calculated using the historical highest individual federal

marginal income tax rates and do not reflect the impact of state and local

taxes. Actual after-tax returns depend on an investor's tax situation and may

differ from those shown. In certain cases, the figure representing "Return after

taxes on distributions and sale of Fund shares" may be higher than the other

return figures for the same period, since a higher after-tax return results when

a capital loss occurs upon redemption and provides an assumed tax deduction that

benefits the investor. The after-tax returns shown are not relevant to investors

who hold their shares through tax-deferred arrangements such as 401(k) plans or

Individual Retirement Accounts ("IRAs").

Average Annual Total Returns (for the periods ended December 31, 2011)

Average Annual Total Returns	Average Annual Returns, Label	Average Annual Returns, 1 Year	Average Annual Returns, 5 Years	Average Annual Returns, 10 Years
FMI FOCUS FUND	Return before taxes	(3.37%)	4.75%	6.29%
FMI FOCUS FUND After Taxes on Distributions	Return after taxes on distributions	(3.96%)	3.67%	5.18%
FMI FOCUS FUND After Taxes on Distributions and Sales	Return after taxes on distributions and sale of Fund shares	(1.40%)	3.80%	5.15%
FMI FOCUS FUND Russell 2000 Index	Russell 2000® Index (reflects no deduction for fees, expenses or taxes)	(4.18%)	0.15%	5.62%
FMI FOCUS FUND Russell 2000 Growth Index	Russell 2000® Growth Index (reflects no deduction for fees, expenses or taxes)	(2.91%)	2.09%	4.48%