Mutual Funds

Osterweis Fund

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

Emerging Opportunity Fund

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

Strategic Income Fund

Fact Sheet March 2019
Shareholder Letter April 2019
Summary Prospectus June 2018
Statutory Prospectus June 2018
Statement of Additional Information June 2018
Annual Report - Osterweis Funds March 2019
Semi-Annual Report - Osterweis Funds September 2018
April Strategic Income Outlook – There Are Still Checks in the Checkbook March 2019

Total Return Fund

Fact Sheet March 2019
Shareholder Letter April 2019
Summary Prospectus June 2018
Statutory Prospectus June 2018
Statement of Additional Information June 2018
Annual Report - Osterweis Funds March 2019
Semi-Annual Report - Osterweis Funds September 2018
April Total Return Outlook – It's Our Turn March 2019

Strategic Investment Fund

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