The Fund seeks long-term total returns and capital preservation.
The Growth & Income Fund invests in both equity and fixed income securities that the Osterweis Capital Management investment team believes can deliver attractive long-term returns and enhanced capital preservation. Security selection emphasizes investments that are poised to deliver growing income over time. The allocation of assets between equity and fixed income securities is based on the opportunity set of each asset class and the investment team’s overall view of the macroeconomic and market environment.
- Bottom-up equity and fixed income selection based on rigorous fundamental analysis
- Emphasis on equities that are likely to deliver consistent dividend growth
- Fixed income focuses on areas with the most attractive risk/reward
- Strategic top-down asset allocation based on the investment opportunity set and macroeconomic/market conditions
- Risk-aware strategy
- Adviser is majority-owned by its employees
- $5,000 initial investment for regular accounts
- $1,500 initial investment for IRA or other tax-deferred accounts
- $100 for subsequent investments
NAV as of 11/25/22
(as of 10/31/22)
Fiscal Year Turnover
(as of 3/31/22)
Gross Expense Ratio
(as of 3/31/22)
We believe a portfolio of income-generating stocks with underappreciated growth opportunities, combined with strategically selected bonds, can deliver attractive levels of income and growth over time.
We focus on selecting quality, industry-leading companies with rising dividends and underappreciated growth opportunities when they are out of favor. Additionally, we place a strong emphasis on companies that can grow dividends above the market.
On the fixed income side, we carefully select investments across high yield, convertibles, and investment grade. The investment team applies an equity-like security selection approach focused on attractively valued, misunderstood/out of favor bonds.
The allocation between equities and fixed income is a function of the relative opportunity set based on earnings growth, dividend yields, valuations, and fixed income yields.
The Fund was rated 4 Stars against 707 funds Overall, 5 Stars against 707 funds over 3 Years, 4 Stars against 647 funds over 5 Years, 4 Stars against 480 funds over 10 Years in the Allocation--50% to 70% Equity category based on risk-adjusted returns as of 9/30/22.
The Morningstar Rating™ for funds, or “star rating,” is calculated for mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period has the greatest impact because it is included in all three rating periods.
© 2022 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results.
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 Growth & Income Fund may invest in small- and mid-capitalization companies, which tend to have limited liquidity and greater price volatility than large-capitalization companies. The Fund may invest in foreign and emerging market securities, which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks may increase for emerging markets. The Fund may invest in Master Limited Partnerships, which involve risk related to energy prices, demand and changes in tax code. The Fund may invest 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 debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. From time to time, the Fund may have concentrated positions in one or more sectors subjecting the Fund to sector emphasis risk. Investments in preferred securities typically 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.
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.