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Olstein Strategic Opportunities A (OFSAX)

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Olstein Strategic Opportunities A

Olstein Funds4 Manhattanville RdPurchase NY 10577
800-799-2113
Management Information
Robert Alan Olstein,Lead Manager since October 31, 2006
Chairman, Chief Executive Officer, Chief Investment Officer and founder of Olstein Funds has long been recognized as one of the financial community’s most astute and original research analysts and money managers, and is a leading expert on looking behind the numbers of financial statements to assess the quality of earnings that a company reports. In 1971, Olstein and partner Thornton O’glove, founded one of Wall Street’s most influential and important research services, The Quality of Earnings Report, a bi-weekly newsletter for institutional and professional investors that promulgated the belief that “it is essential in stock selection to spend time with financial statements looking behind the numbers, rather than relying upon management contact.” The Quality of Earnings service issued no buy or sell recommendations and utilized an inferential analysis of financial statements of footnotes to alert institutional investors to deviations between reported earnings and economic reality. In the early 1980’s, Olstein sold his interest in the service to pursue a career as an investment advisor, applying the Quality of Earnings philosophy of utilizing financial statement alerts and error avoidance as keys to increasing one’s chance of achieving long-term capital appreciation. Since 1981, Olstein has meticulously continued to follow the quality of earnings philosophy through an accounting driven, value-oriented investment strategy. Between 1981 and 1995, Olstein served as Senior Portfolio Manager/Senior Vice President at Smith Barney where he managed discretionary accounts for individual and institutional investors, including employee benefit plans. Olstein founded Olstein Capital Management, L.P. and launched The Olstein All Cap Value Fund. Prior to founding The Quality of Earnings Report, Olstein was a Securities Analyst with Scheinman Hochstin & Trotta and before that he was employed at Arthur Andersen & Co. He also served as an Instructor of Business Statistics at Hofstra University. Olstein is a past recipient of the Financial Analysts Federation (now CFA Institute) Graham & Dodd Scroll Award, which he received in 1973, “in recognition of an outstanding feature article published in the Financial Analyst Journal.” Olstein is a member of the CFA Institute and the New York Society of Security Analysts and has contributed to or been the author of, numerous articles on corporate reporting and disclosure practices in The Wall Street Journal, Business Week, The New York Times, and Barron’s. Olstein authored “Reality Check: Accounting Alerts for Investment Advisors,” which appeared in the January 2006 issue of The CPA Journal. He holds an M.B.A. in Accounting and B.A. in Mathematical Statistics from Michigan State University.
Morningstar Style Box
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Morningstar Category
While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk, and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. When necessary, we may change a category assignment based on recent changes to the portfolio.

Fund Overview

CategorySmall Blend
Fund FamilyOlstein
Net Assets150.86M
YTD Return1.45%
Yield0.00%
Morningstar Rating★★
Inception DateOct 31, 2006

Fund Operations

Last Dividend0.00
Last Cap Gain0.00
Holdings Turnover58.24%
Average for CategoryN/A

Fees & Expenses

ExpenseOFSAXCategory Average
Annual Report Expense Ratio (net)1.60%1.21%
Prospectus Net Expense Ratio1.60%N/A
Prospectus Gross Expense Ratio1.70%N/A
Max 12b1 Fee0.25%N/A
Max Front End Sales Load5.50%5.25%
Max Deferred Sales LoadN/A1.67%
3 Yr Expense Projection1,047N/A
5 Yr Expense Projection1,413N/A
10 Yr Expense Projection2,440N/A