|Shareholder Letter||July 2018|
News & Views
|Advisor Perspectives: Investment Grade – Why Now?|
Eddy Vataru, lead Portfolio Manager for the Total Return Fund, was recently interviewed by Advisor Perspectives.
|NAPFA Advisor: Managing for Absolute Returns in a Tightening Monetary Environment|
What should fixed-income investors do in the face of rising rates and a rollback in quantitative easing?
|Statement of Additional Information|
|Semi-Annual Report - Osterweis Funds|
|Annual Report - Osterweis Funds|
|XBRL Risk/Return - OSTRX|
Open an Account
After reading the prospectus, please click on the links below to download an application.
Applications & Forms
|Application - Regular Account|
Regular/Taxable accounts for Individuals, Joint or Gifts to Minors.
|Entity Application - Regular Account|
Regular/Taxable accounts for entities such as C Corporations, Partnerships, Limited Liability Companies, etc.
|Application - IRA Account|
Regular, Roth, SEP, SIMPLE, Transfer or Rollover IRA account. Please read the IRA Disclosure Statement & Custodial Agreement.
|IRA or CESA Transfer Form|
Transfer an existing IRA to the Osterweis Funds.
|Beneficiary Change Form|
Change your beneficiaries for Traditional, Roth, SEP and SIMPLE IRA’s.
Vice President & Portfolio ManagerView Bio
Vice President & Portfolio Manager
Eddy Vataru graduated from California Institute of Technology (B.S. Chemistry & Economics) and from Olin Business School at Washington University in St. Louis (M.B.A.). Mr. Vataru holds the Chartered Financial Analyst designation.
Prior to joining Osterweis Capital Management in 2016, Mr. Vataru worked in senior management positions at Incapture, LLC and Citadel, LLC. Before that he spent over 11 years at BlackRock (formerly, Barclays Global Investors), where his last position was as Managing Director and Head of U.S. Rates and Mortgages.
Mr. Vataru is a principal of the firm and the lead Portfolio Manager for the total return fixed income strategy. He is also a Portfolio Manager for the flexible balanced strategy.
Portfolio ManagerView Bio
John Sheehan graduated from Georgetown University (B.A. Economics). Mr. Sheehan holds the Chartered Financial Analyst designation.
Prior to joining Osterweis Capital Management in 2018, Mr. Sheehan spent over 20 years working at Citigroup, first as Managing Director responsible for Investment Grade Syndicate in New York City and then as Managing Director in charge of West Coast Investment Grade Sales in San Francisco.
Mr. Sheehan is a Portfolio Manager for the total return fixed income strategy. He is also a Portfolio Manager for the flexible balanced strategy.
Portfolio ManagerView Bio
Daniel Oh graduated from Columbia University (B.A. Economics/Political Science) and from the Stephen M. Ross School of Business at the University of Michigan (M.B.A.).
Prior to joining Osterweis Capital Management in 2018, Mr. Oh was a Director of Fixed Income Portfolio Management at Estabrook Capital Management in New York City. Before that he was at Merrill Lynch & Co. as an Associate in Prime/Alt-a-Non-Agency Mortgage Trading. Prior to that he held positions at Seneca Financial Group and Morgan Stanley.
Mr. Oh is a Portfolio Manager for the total return fixed income strategy. He is also a Portfolio Manager for the flexible balanced strategy.
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 in 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.