Catching the Wave: Why Secular Growth Matters

In our view, the specific market dynamics that influence a company's sales growth prospects have a greater impact on equity returns than the overall direction of the economy.
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Outlooks & Commentary

  • Convertible Bonds: An Underappreciated Source of Alpha

    Although most investors ignore the opportunities presented by these flexible fixed income securities, they are an integral component of our strategy.
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  • A New Paradigm for Stocks: Digital vs. Decline, Not Growth vs. Value

    As the influence of technology continues to increase, we believe investors need to reconsider the relevance of both the traditional style matrix and sector classifications.
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  • July Strategic Income Outlook – Do My Eyes Deceive Me?

    The second quarter featured an unusual combination of rallies in both “risk-on” and “risk-off” assets. Who should we believe – the equity bulls or the bond bears? A compelling case can be made for either, but we’re expecting more of the same – the slow-growth recovery will continue, and the economy will keep muddling through.

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  • July Total Return Outlook

    The investment grade market had a strong second quarter, as traders bid up Treasuries in anticipation of Fed rate cuts. The current environment looks favorable for risk assets, and we are constructive on investment grade credit. However, we are neutral on mortgages and defensive on rates.

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  • July Equity Outlook

    The stock market extended its gains during the second quarter, as the recovery continued to grind ahead. In our view, structural changes in the economy have fundamentally changed the business cycle, and we expect the expansionary phase to last longer and be less inflationary than in the past.

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News & Updates

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An Introduction to OCM

In 1983, John Osterweis founded Osterweis Capital Management to manage assets for individuals, families, endowments and institutions. Now entering our fourth decade, we are an integrated firm with over fifty employees, managing $7.0 billion in assets.

Our clients, many of them with us for decades, know we’ve gotten here through an unwavering commitment to one purpose : To protect and grow our clients’ capital for the enduring security of multiple generations.

Criteria for Recommended Funds: Recommended funds are evaluated by Litman Gregory based on a combination of qualitative and quantitative measures, including absolute and relative long-term performance metrics when compared to an appropriate benchmark and peer group, manager skill, investment process and the discipline by which the process is applied, quality and tenure of research team, shareholder orientation, assets under management, and fund expenses. Recommended reflects Litman Gregory’s confidence in a fund’s potential to outperform a relevant benchmark over the long term.

The Osterweis Funds and other products and services described on this website are intended to be made available to U.S. investors only. Shares of the Funds are currently offered only in the United States and are not available for sale in any jurisdiction other than the United States. The information on this website is neither an offer to sell nor a solicitation of an offer to buy a mutual fund, security or service in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful. Please read these Terms and Conditions.

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 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.

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

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