Osterweis Capital Management

Osterweis Fund

Investment Team

The Osterweis Fund is managed by a five-member team that is led by John Osterweis and Matt Berler. John Osterweis has managed the fund since its inception.

John S. Osterweis

Founder, Chairman & Chief Investment Officer

John Osterweis graduated from Bowdoin College (B.A. in Philosophy, cum laude) and Stanford Graduate School of Business (M.B.A. with top honors in Finance).

For most of his business career, he has resided in San Francisco. Since graduating from business school, he served as a Senior Analyst concentrating on the forest products and paper industry for several regional brokerage firms and later for E.F. Hutton & Company, Inc. In addition to his activities as an analyst, Mr. Osterweis served as Director of Research for two firms and managed equity portfolios for over ten years.

In late 1982, Mr. Osterweis decided to devote full time to his portfolio management activities, and in April of 1983 launched Osterweis Capital Management.

For a number of years Mr. Osterweis served as a Director on the Stanford Alumni Association Executive Board, Trustee of Bowdoin College, Director and Vice Chairman of Mt. Zion Hospital and Medical Center, and President of the Board of Directors for Summer Search Foundation. He currently serves as Chairman of the San Francisco Ballet Association, Chairman of the Investment Committee for the San Francisco Jewish Community Federation, Director of the San Francisco Free Clinic and Trustee Emeritus of Summer Search Foundation and of Bowdoin College.

Mr. Osterweis is a principal of the firm and a lead Portfolio Manager for the equity and flexible balanced strategies.

Matthew K. Berler

President, Chief Executive Officer & Portfolio Manager

Matt Berler graduated from Cornell University (A.B. in history) and Harvard Business School (M.B.A.). Mr. Berler holds the Chartered Financial Analyst designation and is a member of the CFA Society of San Francisco.

Prior to joining Osterweis Capital Management in early 2003, Mr. Berler was a Managing Director at Morgan Stanley in the Equity Research Division. He served as the Senior Analyst covering the North American Paper and Forest Products industries and as Team Leader of both the Global Paper Research Team and the North American Basic Materials Team at Morgan Stanley. He joined Morgan Stanley in 1994 as a Principal and was elected Managing Director in 1998. Prior to his employment at Morgan Stanley, he worked at Donaldson, Lufkin and Jenrette from 1987 to early 1994, where he was a Vice President.

Before attending Harvard, he was a Research Associate at the Institute for Defense Analyses in Alexandria, Virginia from 1983 to 1985 conducting national security studies for the Joint Chiefs of Staff and the Office of the Secretary of Defense.

Mr. Berler is a past Treasurer and Director on the Board of Temple Emanu-El in San Francisco. He currently serves as the Treasurer and a Trustee of the Contemporary Jewish Museum and as a Trustee of the Shalom Hartman Institute.

Mr. Berler is a principal of the firm and a lead Portfolio Manager for the equity and flexible balanced strategies.

Alexander (Sasha) Kovriga

Vice President & Portfolio Manager

Sasha Kovriga graduated from Brandeis University (B.A. in Philosophy and History, summa cum laude), University of Massachusetts, Amherst (M.A.) and Harvard Business School (M.B.A.).

Prior to joining Osterweis Capital Management in 2002, Mr. Kovriga was a Strategy Consultant at Monitor Group in Cambridge, MA. From 1997 to 2000, he worked on projects in a variety of industries ranging from consumer products to pharmaceuticals.

Mr. Kovriga currently serves on the Board of Directors of Summer Search Foundation and the San Francisco Jewish Film Festival.

Mr. Kovriga is a principal of the firm and a Portfolio Manager for the equity strategy.

Gregory S. Hermanski

Vice President & Portfolio Manager

Greg Hermanski graduated from The University of California, Los Angeles (B.A. in Business/Economics).

Prior to joining Osterweis Capital Management in 2002, Mr. Hermanski was a Vice President at Robertson Stephens and Co. where he was in charge of convertible bond research. Prior to that, Mr. Hermanski was a Research Analyst covering convertible, high yield, and distressed securities at Imperial Capital, LLC and a Valuation Consultant for Price Waterhouse, LLC.

Mr. Hermanski is a principal of the firm and a Portfolio Manager for the equity strategy.

Zachary W. Perry

Vice President & Portfolio Manager

Zack Perry graduated from Princeton University (B.A. in Psychology) and The Wharton School at the University of Pennsylvania (M.B.A.). Mr. Perry holds the Chartered Financial Analyst designation and is a member of the CFA Society of San Francisco.

Prior to joining Osterweis Capital Management in 2008, Mr. Perry was a Vice President and Equity Portfolio Manager at Franklin Templeton Investments, where he managed the small cap separate account portfolios for over nine years and conducted equity research as a small cap generalist. Throughout his tenure at Franklin, Mr. Perry covered several industries including Technology, Communications and Industrial & Lab Instrumentation. He began his career at Franklin in 1995 and took over responsibility of the small cap separate accounts in 1999, eventually becoming a Vice President.

Mr. Perry is a principal of the firm and a Portfolio Manager for the equity strategy.

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This net expense ratio is an annualized figure based on actual expenses accrued during the as-of month. This figure does not include any Acquired Fund Fees and Expenses (AFFE) that may be included in the Total Fund Expenses shown in the Prospectus and elsewhere on this website. During the period noted, there were no fee waivers or expense reimbursements in effect for the Osterweis Fund. The gross expense ratio reflects the expense ratio before any fee waivers or reimbursements and is the figure noted in the current prospectus.

The Osterweis Funds are available by prospectus only. The Funds’ investment objectives, risks, charges and expenses must be considered carefully before investing. The summary and statutory prospectuses contain this and other important information about the Funds. You may obtain a summary or statutory prospectus by calling toll free at (866) 236-0050, or by clicking here. Please read the prospectus carefully before investing to ensure the Fund is appropriate for your goals and risk tolerance.

Mutual fund investing involves risks. Loss of principal is possible.

The Osterweis Fund may invest in medium and smaller sized companies, which involve additional risks such as limited liquidity and greater volatility. The Fund may invest in foreign securities, which involve political, economic & currency risks, greater volatility, and differences in accounting methods. The Fund may invest in Master Limited Partnerships, which involve risk related to energy prices and demand. The Fund may invest in debt securities that are un-rated or rated below investment grade. Such lower-rated securities may present an increased possibility of default, price volatility or illiquidity compared to higher-rated securities. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.

While the fund is no-load, management fees and other expenses still apply. Please refer to the prospectus for more information.

Osterweis Capital Management is the adviser to the Osterweis Funds, which are distributed by Quasar Distributors, LLC.