Performance

Month-End Performance (as of 6/30/17)
(%)

  1 MONTH QTD YTD 1 YEAR 3 YEAR 5 YEAR 7 YEAR 10 YEAR Since Inception
(12/30/2016)
OSTRX 0.61% 0.84% 3.51% - - - - - 3.51%
Bloomberg Barclays U.S. Aggregate Bond Index -0.10 1.45 2.27 - - - - - 2.27
OSTRX Bloomberg Barclays U.S. Aggregate Bond Index
1 MONTH 0.61 -0.10
QTD 0.84 1.45
YTD 3.51 2.27
1 YEAR - -
3 YEAR - -
5 YEAR - -
7 YEAR - -
10 YEAR - -
Since Inception
(12/30/2016)
3.51 2.27

Gross/Net expense ratio as of 3/31/2017: 2.62%/0.82%. The Adviser has contractually agreed to waive certain fees through December 31, 2018.

Quarter-End Performance (as of 6/30/17)
(%)

  1 MONTH QTD YTD 1 YEAR 3 YEAR 5 YEAR 7 YEAR 10 YEAR Since Inception
(12/30/2016)
OSTRX 0.61% 0.84% 3.51% - - - - - 3.51%
Bloomberg Barclays U.S. Aggregate Bond Index -0.10 1.45 2.27 - - - - - 2.27
OSTRX Bloomberg Barclays U.S. Aggregate Bond Index
1 MONTH 0.61 -0.10
QTD 0.84 1.45
YTD 3.51 2.27
1 YEAR - -
3 YEAR - -
5 YEAR - -
7 YEAR - -
10 YEAR - -
Since Inception
(12/30/2016)
3.51 2.27

Gross/Net expense ratio as of 3/31/2017: 2.62%/0.82%. The Adviser has contractually agreed to waive certain fees through December 31, 2018.

Performance data quoted represent 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. Current performance of the Fund may be higher or lower than the performance quoted.


Rates of return for periods greater than one year are annualized.

Performance Chart (as of 6/30/17)

Returns (%)
Total Return Fund
BC Agg Index

Hypothetical Growth of $10,000 (Since Inception to 6/30/2017)

Growth of $10,000
Total Return Fund
(Dividends Reinvested)
BC Agg Index
(Dividends Reinvested)

Calendar Year Performance

Date OSTRX BC Agg
2017 (as of 6/30/2017) 3.51% 2.27%

Investment Team

Account Access

Email Update

This chart illustrates the performance of a hypothetical $10,000 investment made in the Fund at the Fund’s inception. This chart assumes reinvestment of dividends and capital gains, but does not reflect the effect of any applicable sales charge or redemption fees. This chart does not imply any future performance.

The Bloomberg Barclays U.S. Aggregate Bond Index (BC Agg) is an unmanaged index which is widely regarded as the standard for measuring U.S. investment grade bond market performance. This index does not incur expenses and is not available for investment. The index includes reinvestment of dividends and/or interest income.

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 visiting www.osterweis.com/statpro. Please read the prospectus carefully before investing to ensure the Fund is appropriate for your goals and risk tolerance.

Mutual fund investing involves risk. Principal loss is possible.

The Osterweis Total Return Fund may invest fixed income securities which are subject to credit, default, extension, interest rate and prepayment risks. It may also make investments in derivatives that may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. The Fund may invest in in debt securities that are un-rated or rated below investment grade. Lower-rated securities may present an increased possibility of default, price volatility or illiquidity compared to higher-rated securities. Investments in foreign and emerging market securities involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks may increase for emerging markets. Leverage may cause the effect of an increase or decrease in the value of the portfolio securities to be magnified and the fund to be more volatile than if leverage was not used. Investments in preferred securities have an inverse relationship with changes in the prevailing interest rate. Investments in Asset Backed and Mortgage Backed Securities include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. It may also make investments in derivatives that may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. The Fund may invest in municipal securities which are subject to the risk of default.

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.

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