Mutual Funds

Osterweis Fund

Fact Sheet September 2018
Shareholder Letter January 2019
Summary Prospectus June 2018
Statutory Prospectus June 2018
Statement of Additional Information June 2018
Annual Report - Osterweis Funds March 2018
Semi-Annual Report - Osterweis Funds September 2018
January Equity Outlook January 2019

Emerging Opportunity Fund

Fact Sheet September 2018
Shareholder Letter January 2019
Summary Prospectus June 2018
Statutory Prospectus June 2018
Statement of Additional Information June 2018
Annual Report - Osterweis Funds March 2018
Semi-Annual Report - Osterweis Funds September 2018

Strategic Income Fund

Fact Sheet September 2018
Shareholder Letter January 2019
Summary Prospectus June 2018
Statutory Prospectus June 2018
Statement of Additional Information June 2018
Annual Report - Osterweis Funds March 2018
Semi-Annual Report - Osterweis Funds September 2018
January Strategic Income Outlook – Will the Real Market Please Stand Up January 2019

Total Return Fund

Fact Sheet September 2018
Shareholder Letter January 2019
Summary Prospectus June 2018
Statutory Prospectus June 2018
Statement of Additional Information June 2018
Annual Report - Osterweis Funds March 2018
Semi-Annual Report - Osterweis Funds September 2018
January Total Return Outlook – Headwinds Are Blowing, But the Ship Sails Onward January 2019

Strategic Investment Fund

Fact Sheet September 2018
Shareholder Letter January 2019
Summary Prospectus June 2018
Statutory Prospectus June 2018
Statement of Additional Information June 2018
Annual Report - Osterweis Funds March 2018
Semi-Annual Report - Osterweis Funds September 2018
January Strategic Investment Outlook January 2019

Request hard copies of mutual fund materials by email or call us at (866) 236-0050.

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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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