Are you getting the best rate from your broker?
Compare your broker's rates now to find out if you can save money

Choose your broker below
Welcome to MutualFunds.com. Please help us personalize your experience.

Select the one that best describes you
Mutualfunds logo

OSTIX Osterweis Strategic Income

  • Fund
  • OSTIX
  • Price as of: Nov 16, 2017
  • $11.38
  • + $0.03
  • + 0.26%
  • Category
  • Diversified Portfolio

OSTIX - Profile

Vitals

  • YTD Return 1.5%
  • 3 Yr Annualized Return 4.4%
  • 5 Yr Annualized Return 4.9%
  • Net Assets $5.93 B
  • Holdings in Top 10 15.4%

52 WEEK LOW AND HIGH

$11.38
$11.16
$11.45

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.84%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 37.00%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$5,000

IRA

$1,500

Investment Themes

CATEGORY

Diversified Portfolio
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Bond

Distributions

  • YTD Total Return 1.5%
  • 3 Yr Annualized Total Return 4.4%
  • 5 Yr Annualized Total Return 4.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.17%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Osterweis Strategic Income Fund
  • Fund Family Name Osterweis
  • Inception Date Aug 30, 2002
  • Shares Outstanding 519412770
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Bradley M. Kane

Fund Description

The Osterweis Strategic Income Fund (OSTIX) is an actively managed fund that aims to provide long-term high total returns through a combination of income and capital appreciation. The fund primarily focuses its attention on U.S. bonds of any kind, but it can own convertible stocks as well. OSTIX’s managers alter the fund’s allocation based on changes in interest rate policy and the overall economic environment. The fund uses bottom-up credit analysis to find bonds that are trading at attractive metrics relative to their prices.

Given OSTIX’s broad mandate and low costs, the fund could be used as a core position in a fixed-income portfolio. The fund is managed by Osterweis Capital Management LLC.

OSTIX - Performance

Return Ranking - Trailing

Period OSTIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 1.5% -49.2% 448.4% 77.42% 5
1 Yr 6.9% -26.7% 45.9% 64.45% 3
3 Yr 4.4% * -11.7% 12.3% 29.64% 2
5 Yr 4.9% * -11.3% 15.0% 48.87% 3
10 Yr 6.2% * -6.2% 8.6% 9.54% 1

* Annualized


Return Ranking - Calendar

Period OSTIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 5.2% -65.8% 23.3% 21.21% 2
2015 -6.4% -37.7% 48.7% 47.37% 3
2014 -3.8% -59.3% 22.9% 70.25% 5
2013 1.6% -17.5% 36.4% 73.47% 5
2012 2.8% -16.2% 18.4% 80.28% 5

Total Return Ranking - Trailing

Period OSTIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 1.5% -49.2% 448.4% 78.37% 5
1 Yr 6.9% -28.0% 73.2% 50.32% 3
3 Yr 4.4% * -11.8% 28.2% 36.95% 2
5 Yr 4.9% * -11.7% 15.0% 67.71% 4
10 Yr 6.2% * -6.2% 8.6% 9.62% 1

* Annualized


Total Return Ranking - Calendar

Period OSTIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 9.7% -65.6% 32.0% 8.18% 1
2015 -0.9% -29.3% 50.4% 28.05% 2
2014 1.5% -54.8% 25.4% 81.26% 5
2013 8.0% -16.7% 57.2% 72.38% 4
2012 11.2% -16.2% 74.5% 67.68% 4

NAV & Total Return History

OSTIX - Holdings

Filings data as of: Sep 30, 2017

Concentration Analysis

OSTIX Category Low Category High OSTIX % Rank Quintile
Net Assets 5.93 B 81.4 K 118 B 2.60% 1
Number of Holdings 123 1 12799 13.27% 3
Net Assets in Top 10 896 M -654 M 23.3 B 6.72% 2
Weighting of Top 10 15.4% 0.2% 455.9% 33.30% 5

Top 10 Holdings

  1. Rite Aid 9.25% 3.47%
  2. Chs / Cmnty Health Sys 8% 1.34%
  3. Regis Corp Minn 144A 5.5% 1.88%
  4. Herc Rentals 144A 7.5% 1.33%
  5. Shearers Foods Llc / Chip Fin 144A 9% 1.29%
  6. Gfl Environmental 144A 9.875% 1.20%
  7. Navistar Intl Corp New 8.25% 1.24%
  8. Gmac 8% 1.23%
  9. Ruby Tuesday 7.625% 1.23%
  10. Blue Bird Corp 1.21%

Asset Allocation

Weighting Category Low Category High OSTIX % Rank Quintile
Bonds
71.34% -109.09% 135.52% 1.55% 1
Cash
22.00% -183.58% 103.61% 5.40% 1
Convertible Bonds
4.45% 0.00% 33.12% 2.10% 1
Stocks
1.21% -2.59% 141.14% 37.69% 5
Preferred Stocks
1.00% -0.07% 49.97% 7.14% 2
Other
0.00% -6.04% 98.99% 21.23% 5

Stock Sector Breakdown

Weighting Category Low Category High OSTIX % Rank Quintile
Consumer Cyclical
1.21% -10.44% 54.37% 25.50% 5
Utilities
0.00% -2.48% 47.20% 16.49% 5
Technology
0.00% -6.57% 70.04% 29.75% 5
Real Estate
0.00% -4.60% 83.64% 21.15% 5
Industrials
0.00% -3.12% 48.84% 27.53% 5
Healthcare
0.00% -8.22% 31.05% 28.64% 5
Financial Services
0.00% -8.51% 69.58% 30.95% 5
Energy
0.00% -4.89% 35.99% 24.11% 5
Communication Services
0.00% -1.63% 27.16% 16.81% 5
Consumer Defense
0.00% -2.25% 27.69% 23.37% 5
Basic Materials
0.00% -2.54% 21.85% 19.54% 5

Stock Geographic Breakdown

Weighting Category Low Category High OSTIX % Rank Quintile
US
1.21% -97.12% 138.58% 37.19% 5
Non US
0.00% -11.38% 150.26% 33.94% 5

Bond Sector Breakdown

Weighting Category Low Category High OSTIX % Rank Quintile
Corporate
76.79% 0.00% 196.81% 0.32% 1
Cash & Equivalents
22.00% -183.58% 122.40% 5.31% 1
Derivative
0.00% -84.53% 24.88% 3.39% 2
Securitized
0.00% -0.01% 64.50% 27.45% 5
Municipal
0.00% 0.00% 205.30% 8.51% 4
Government
0.00% -345.50% 117.18% 31.24% 5

Bond Geographic Breakdown

Weighting Category Low Category High OSTIX % Rank Quintile
US
68.07% -422.59% 103.74% 0.87% 1
Non US
3.27% -57.44% 364.72% 20.63% 4

OSTIX - Expenses

Operational Fees

OSTIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.84% 0.00% 165.34% 15.39% 2
Management Fee 0.71% 0.00% 2.55% 2.52% 4
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.83% N/A N/A

Sales Fees

OSTIX Fees (% of AUM) Category Low Category High OSTIX Rank Quintile
Front Load N/A 0.14% 5.75% N/A N/A
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

OSTIX Fees (% of AUM) Category Low Category High OSTIX Rank Quintile
Max Redemption Fee 2.00% 0.00% 2.00% 0.49% 4

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

OSTIX Fees (% of AUM) Category Low Category High OSTIX Rank Quintile
Turnover 37.00% 0.00% 5910.00% 11.14% 3

OSTIX - Distributions

Dividend Yield Analysis

OSTIX Category Low Category High OSTIX % Rank Quintile
Dividend Yield 0.6% 0.00% 11.33% 4.21% 1

Dividend Distribution Analysis

OSTIX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

OSTIX Category Low Category High OSTIX % Rank Quintile
Net Income Ratio 5.17% -3.27% 12.91% 0.82% 1

Capital Gain Distribution Analysis

OSTIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

OSTIX - Managers

Bradley M. Kane

Manager

Start Date

Jun 30, 2013

Tenure

4.34

Tenure Rank

5.6%

Mr. Bradley M. Kane serves as Vice President and Assistant Portfolio Manager for Osterweis Capital Management Inc. and Osterweis Capital Management LLC. Prior to joining the firm in 2013, Mr. Kane was a Portfolio Manager and Analyst at Newfleet Asset Management, where he managed both high yield and leveraged loan portfolios. Before that, he was a Vice President at GSC Partners, focusing on management of high yield and collateralized debt obligations. Earlier in his career, he managed high yield assets as a Vice President at Mitchell Hutchins Asset Management. Bradley Kane graduated from Lehigh University (B.S. in Business & Economics) and is a principal of Osterweis Capital Management


Carl P. Kaufman

Manager

Start Date

Aug 30, 2002

Tenure

15.18

Tenure Rank

1.1%

Mr. Carl P. Kaufman serves as Co-Chief Executive Officer, Co-President, and Managing Director – Fixed Income for Osterweis Capital Management, Inc. and Osterweis Capital Management, LLC. Prior to joining the firm in 2002, Mr. Kaufman was a senior member of the convertible bond team at Robertson Stephens. Prior to that, he spent nineteen years with Merrill Lynch, in their Institutional Sales office, specializing in convertible and equity sales and trading. Mr. Kaufman graduated from Harvard University and attended New York University Graduate School of Business Administration. He is a principal of Osterweis Capital Management.


Craig L. Manchuck

Manager

Start Date

Feb 06, 2017

Tenure

0.73

Tenure Rank

8.5%

Mr. Craig L. Manchuck serves as an Assistant Portfolio Manager for Osterweis Capital Management Inc. and Osterweis Capital Management LLC. Prior to joining Osterweis Capital Management in 2017, Mr. Manchuck was a Managing Director of Fixed Income at Stifel Nicolaus from 2013 to 2016 and Knight Capital from 2008-2013, where he was responsible for sales and origination of high yield bonds, leveraged loans and post reorg equities. Prior to that from 2000 to 2008, Mr. Manchuck was the Executive Director for Convertible Securities and then High Yield/Distressed Securities at UBS. He has previous experience in Convertible Securities Sales at Donaldson, Lufkin & Jenrette, SBC Warburg and Merrill Lynch.


Tenure Analysis

Category Low

0.0

Category High

49.6

Category Average

5.63

Category Mode

2.8