Mutual Funds

Osterweis Fund

Fact Sheet March 2018
Shareholder Letter April 2018
Summary Prospectus December 2017
Statutory Prospectus December 2017
Statement of Additional Information December 2017
Annual Report - Osterweis Funds March 2017
Semi-Annual Report - Osterweis Funds September 2017
April Equity Outlook – The Digital Transformation March 2018

Emerging Opportunity Fund

Fact Sheet March 2018
Shareholder Letter April 2018
Summary Prospectus July 2017
Statutory Prospectus December 2017
Statement of Additional Information December 2017
Annual Report - Osterweis Funds March 2017
Semi-Annual Report - Osterweis Funds September 2017

Strategic Income Fund

Fact Sheet March 2018
Shareholder Letter April 2018
Summary Prospectus July 2017
Statutory Prospectus December 2017
Statement of Additional Information December 2017
Annual Report - Osterweis Funds March 2017
Semi-Annual Report - Osterweis Funds September 2017
April Strategic Income Outlook – The Sound & The Fury March 2018

Total Return Fund

Fact Sheet March 2018
Shareholder Letter April 2018
Summary Prospectus July 2017
Statutory Prospectus December 2017
Statement of Additional Information December 2017
Annual Report - Osterweis Funds March 2017
Semi-Annual Report - Osterweis Funds September 2017
Total Return Outlook - January 2018 December 2017

Strategic Investment Fund

Fact Sheet March 2018
Shareholder Letter April 2018
Summary Prospectus July 2017
Statutory Prospectus December 2017
Statement of Additional Information December 2017
Annual Report - Osterweis Funds March 2017
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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