Osterweis Strategic Income Fund Named Best Multi-Sector Income Fund (3-year category) in the 2023 Refinitiv Lipper Fund Awards
Published on March 24, 2023
Osterweis Capital Management's Strategic Income Fund (OSTIX) has been named a 2023 Refinitiv Lipper U.S. Fund Awards Winner as the Best Multi-Sector Income Fund Over Three Years.
San Francisco, CA - Osterweis Capital Management (Osterweis) announced today that its Strategic Income Fund (OSTIX) has been named a 2023 Refinitiv Lipper U.S. Fund Awards Winner as the Best Multi-Sector Income Fund Over Three Years. The award is given to the fund with the most consistent risk-adjusted performance in its category over the past 36 months.1
Carl Kaufman, Lead Portfolio Manager for the fund, said, “Since our inception over 20 years ago, we have tried to generate stable returns with low volatility, so we are very pleased to be receiving this award. It validates that our commonsense approach continues to be effective, particularly during the past three years, which have been exceptionally unpredictable.”
Robert Jenkins, Head of Research, Lipper, Refinitiv, added, “The 2023 Refinitiv Lipper Fund Awards recognize those managers who navigated their shareholders through the impacts of a global pandemic and the resulting economic shocks, including generational inflation and global central bank interventions. We applaud the 2023 Refinitiv Lipper Fund Award winners such as Osterweis Capital Management for delivering the comfort of consistency to investors’ portfolios during such a tumultuous period.”
The Osterweis Strategic Income Fund is a benchmark-agnostic strategy that utilizes fundamental research to build a diverse portfolio of fixed income securities. The fund’s flexible mandate allows the managers to adjust duration based on market conditions and to focus on market segments with the most attractive risk/reward characteristics, regardless of credit rating or sector. The fund also invests in overlooked areas such as convertible bonds. OSTIX is managed by Carl Kaufman, who launched the fund in 2002, as well as industry veterans Craig Manchuck and Bradley Kane.
About Osterweis Capital Management
Established in 1983, Osterweis Capital Management is an independent asset manager with $6.4 billion under management as of December 31, 2022. The firm provides investment management services to institutions and individuals through mutual funds and separate accounts, offering both equity and fixed income investment strategies.
About Refinitiv Lipper Fund Awards
For more than 30 years and in over 17 countries worldwide, the highly respected Refinitiv Lipper Awards have honored funds and fund management firms that have excelled in providing consistently strong risk-adjusted performance relative to their peers and focus the investment world on top funds. The merit of the winners is based on entirely objective, quantitative criteria. This, coupled with the unmatched depth of fund data, results in a unique level of prestige and ensures the award has lasting value. Renowned fund data and proprietary methodology is the foundation of this prestigious award qualification, recognizing excellence in fund management. Find out more at www.lipperfundawards.com.
1 The Lipper multi-sector bond category (3-year) contains 303 share classes representing 95 mutual funds as of 11/30/2022.
Michelle Swager
Vice President & Director of Communications & Marketing
Featuring
Michelle Swager
Vice President & Director of Communications & Marketing
Prior to joining Osterweis Capital Management in 2008, Michelle Swager was an independent financial services marketing consultant. Before that she was a Vice President of Marketing at Managers Investment Group, an investment firm offering a wide range of mutual funds and separately managed accounts. Earlier in her career, she was a Vice President, Marketing at Fremont Investment Advisors.
She is a principal of the firm and is responsible for overseeing communications and marketing.
Ms. Swager graduated from the University of California, Davis (B.S. in Managerial Economics).
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The Fund was rated 4 Stars against 588 funds Overall, 4 Stars against 588 funds over 3 Years, 5 Stars against 553 funds over 5 Years, 4 Stars against 422 funds over 10 Years in the High Yield Bond category based on risk-adjusted returns as of 10/31/24.
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.
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Refinitiv Lipper Fund Awards, ©2023 Refinitiv. All rights reserved. Used under license.
The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers.
The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is an objective, quantitative, risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. For more information, see lipperfundawards.com. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data used to calculate the awards, their accuracy is not guaranteed.
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.
Duration measures the sensitivity of a fixed income security’s price to changes in interest rates. Fixed income securities with longer durations generally have more volatile prices than those of comparable quality with shorter durations.
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. [OSTE-20230315-0813]
