Mutual Funds

Osterweis Fund

Fact Sheet June 2018
Shareholder Letter April 2018
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 2017
April Equity Outlook – The Digital Transformation March 2018

Emerging Opportunity Fund

Fact Sheet June 2018
Shareholder Letter April 2018
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 2017

Strategic Income Fund

Fact Sheet June 2018
Shareholder Letter April 2018
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 2017
July Strategic Income Outlook – Nothing Matters But the Facts! June 2018

Total Return Fund

Fact Sheet June 2018
Shareholder Letter April 2018
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 2017

Strategic Investment Fund

Fact Sheet June 2018
Shareholder Letter April 2018
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 2017
April Strategic Investment Outlook April 2018

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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