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The Olstein Funds"Looking Behind the Numbers" Welcome!!The Olstein Financial Alert Fund is now the Olstein All Cap Value Fund. Our name has changed, but our investment philosophy remains the same. Also, we are working on some exciting changes for our web site...check back soon as we improve the look and content. We are pleased to announce the launch of the Olstein Strategic Opportunities Fund. Please click here for more information! ***2009 capital gains distribution distribution information can be found on the Price and Performance page.*** “Long-term investors win by making the
fewest mistakes.” “The desire to be right all of the time is a road block to being right over time.” “Great companies bought at the wrong
price, are bad investments.” - Robert Olstein Dear Investor, Welcome to the Olstein Funds website! I am a value investor who has been managing money professionally for over 35 years using a process we call “looking behind the numbers.” This simply means digging deep into the financial statements of companies to find worthy investments, rather than relying on management to reach investment conclusions. We care about the reality of the accounting and what management is doing as represented by the numbers, not what they are saying. Our investment philosophy is based on the belief that long-term capital appreciation can be achieved by portfolio managers who make the fewest errors, not those who select the biggest winners. We believe there is a high correlation between achieving above average long-term performance and the avoidance of serious errors (playing defense first). We are happy you chose to learn more about the Fund and our process. We believe so strongly in our philosophy that Olstein Capital Management requires its management and employees to make their equity investments in the Olstein Funds. We encourage you to examine our results since the Olstein All Cap Value Fund’s 1995 inception. While past performance is not necessarily indicative of future results, we are proud of our long-term record. We believe that patience is the greatest virtue required in attempting to achieve long-term capital appreciation. For this reason, we seek investors with a three to five year investment horizon. Long-term investors should have the ability to better ride out fluctuations in market psychology. We believe that the Fund’s broad concept of value, emphasis on assessing risk before reward, definition of risk based on financial strength (not volatility), and the extensive background of the Fund’s Investment Management Team has resulted in a unique investment product. Prior to investing, you should also read the prospectus which contains complete information on the Fund’s investment objectives, risks, management fees, and expenses. I hope you enjoy our website. Please contact us with any questions you may have. Cordially,
Robert A. Olstein Chairman Chief Investment Officer The Olstein All Cap Value Fund is a diversified mutual fund available through most major brokerage firms, as well as directly from the Fund. Ask your financial professional, or explore our website for more information about our mutual fund and investment philosophy. Our most recent Manager's Update and Shareholder report can be found on the Manager's
Opinion page. A
listing of upcoming media appearances and important shareholder updates can
be found on the Fund News
page. Historical capital gains and dividend distribution data for the Olstein All Cap Value Fund can be found on the Price and Performance page. Information regarding distribution arrangements and applicable sales charge reductions and waivers for the Olstein Funds can be found by clicking here. If you are looking to review our prospectus, most recent financial statements, or download account forms go to our Request Literature page. A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities, as well as a record of how the Fund has voted its proxies, are available without charge, upon request, by calling toll-free (800) 799-2113 or through the SEC website. Where do your fund managers invest their personal money????? Our investments are alongside yours. We have a powerful incentive when managing The Olstein Funds...our personal money is invested in the Fund along with our shareholders. To us, there can be no stronger sign of confidence in our value-oriented investment philosophy. The Fund's Manager has over 35 years of experience on Wall Street as both a portfolio manager and research analyst. We encourage you to explore our web site and look forward to welcoming you to our shareholder family! The The Olstein All Cap Value Fund's Adviser Class shares trade under the ticker symbol OFAFX. If you are a fee based financial advisor or planner, click here to learn more. Please note that Adviser Class shares are not sold directly to individual investors.
An investor should consider the Olstein All Cap Value Fund's investment objectives, risks, charges and expenses before investing. For this and other information you may contact your investment representative, call (800) 799-2113 or click here to download a free prospectus. Please read the prospectus carefully before investing. Past performance is no guarantee of future results. These materials are not an offer to sell or a solicitation to buy any security, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer, solicitation, purchase, or sale may not lawfully be made. Important legal information - please read the disclaimer before proceeding. The Olstein Funds has adopted a Privacy Policy. Please be sure to read it before becoming a shareholder. Send mail to webmaster@olsteinfunds.com with
questions or comments about this web site. Copyright © 2009 Olstein Capital Management,
L. P., Broker-Dealer - Member FINRA and SIPC - Distributor of the Olstein
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