https://www.sec.gov/Archives/edgar/data/1027596/000089418920004600/oshaughnessy497eliquidatio.htm497 1 oshaughnessy497eliquidatio.htm O'SHAUGHNESSY 497E SUPP
O'Shaughnessy Small Cap Value Fund
Class I: OFSIX
Supplement dated June 15, 2020 to
Prospectus dated November 28, 2019
O’Shaughnessy Asset Management, LLC, the Advisor to the O’Shaughnessy Small Cap Value Fund (the “Fund”), has recommended, and the Board of Trustees of Advisors Series Trust has approved, the liquidation and termination of the Fund. This decision was made due to the unfavorable economies of operating a small fund with no realistic prospect for future growth.
The liquidation is expected to occur after the close of business on July 27, 2020. Pending liquidation of the Fund, investors will continue to be able to reinvest dividends received in the Fund.
Effective June 16, 2020, the Fund will no longer accept purchases of new shares. In addition, the Fund’s Advisor will no longer be actively investing the Fund’s assets in accordance with the Fund’s investment objective and policies and the Fund’s assets will be converted into cash and cash equivalents. As a result, as of June 16, 2020, the Fund will no longer be pursuing its stated investment objective. Shareholders of the Fund may redeem their investments as described in the Fund’s Prospectus. Accounts not redeemed by July 27, 2020 will automatically be closed and liquidating distributions, less any required tax withholdings, will be sent to the address of record.
If you hold your shares in an IRA account directly with U.S. Bank N.A. you have 60 days from the date you receive your proceeds to reinvest your proceeds into another IRA account and maintain their tax-deferred status. You must notify the Fund or your financial advisor prior to July 22, 2020 of your intent to reinvest your IRA account to avoid withholding deductions from your proceeds.
Please contact the Fund at 1-877-291-7827 or your financial advisor if you have questions or need assistance.
Please retain this Supplement with the Prospectus.
Comments
https://www.sec.gov/Archives/edgar/data/1027596/000089418920004855/oshaughnessy497eliquidatio.htm
497 1 oshaughnessy497eliquidatio.htm O'SHAUGHNESSY 497E
O'Shaughnessy Small Cap Value Fund
Class I: OFSIX
Supplement dated June 15, 2020 to
Prospectus dated November 28, 2019
O’Shaughnessy Asset Management, LLC, the Advisor to the O’Shaughnessy Small Cap Value Fund (the “Fund”), has recommended, and the Board of Trustees of Advisors Series Trust has approved, the liquidation and termination of the Fund. This decision was made due to the unfavorable economies of operating a small fund with no realistic prospect for future growth.
The liquidation is expected to occur after the close of business on July 27, 2020. Pending liquidation of the Fund, investors will continue to be able to reinvest dividends received in the Fund.
Effective June 16, 2020, the Fund will no longer accept purchases of new shares. In addition, the Fund’s Advisor will no longer be actively investing the Fund’s assets in accordance with the Fund’s investment objective and policies and the Fund’s assets will be converted into cash and cash equivalents. As a result, as of June 16, 2020, the Fund will no longer be pursuing its stated investment objective. Shareholders of the Fund may redeem their investments as described in the Fund’s Prospectus. Accounts not redeemed by July 27, 2020 will automatically be closed and liquidating distributions, less any required tax withholdings, will be sent to the address of record.
If you hold your shares in an IRA account directly with U.S. Bank N.A. you have 60 days from the date you receive your proceeds to reinvest your proceeds into another IRA account and maintain their tax-deferred status. You must notify the Fund or your financial advisor prior to July 22, 2020 of your intent to reinvest your IRA account to avoid withholding deductions from your proceeds.
Please contact the Fund at 1-877-291-7827 or your financial advisor if you have questions or need assistance.
Please retain this Supplement with the Prospectus.