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2011 Capital Gains Distribution Information
We are pleased to report that for the three
year period ending December 30,2011 based on Morningstar
rankings:
- OBCHX is ranked 5th out of 80 China funds for all share
classes
- OBSOX is ranked 7th out of 663 Small-Cap Growth funds
for all share classes
- OBIOX is ranked 7th out of 124 Foreign Small/Mid Growth
funds for all share classes
- OBAOX is ranked 8th out of 64 Asia (ex-Japan) funds for
all share classes
Oberweis In The News
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President's Letter
January 2012
 Dear
Fellow Shareholder of
The Oberweis Funds:
2011 was a challenging year for smaller-cap growth equities and The Oberweis Funds. Equity risk aversion rose markedly as investors increasingly fretted about the sovereign debt crisis in Europe.
The combination of over-leveraged governments and political gridlock led to a sharp mid-summer sell-off for equities and a full-year decline in most countries. U.S. small-cap growth stocks,
as measured by the Russell 2000 Growth Index, returned -2.91%. Micro-cap growth stocks returned -8.42%, as measured by the Russell Micro-Cap Growth Index.
International equities fared worse, as reflected by the -14.79% return in the MSCI World ex-US Small Cap Growth Index. China, which performed very well during
the 2009-2010 period, ranked among the most challenging markets in 2011, as measured by the -33.25% return in the MSCI Zhong Hua Small Cap Growth Index. Similar to China,
small companies in the rest of emerging Asia experienced contracting valuations, with the MSCI Asia ex-Japan Small Cap Growth Index returning -25.19%. Both the Asia Opportunities and
International Opportunities Funds exceeded their benchmark indices, with the Asia Opportunities Fund outperforming by 884 basis points for the year. Still, no matter how one looks at it,
2011 was a tough year in international investing.
Previous concerns over high inflation in China gave way to new worries about slowing manufacturing and
falling property prices. Additionally, Chinese equities essentially reflected the trials and tribulations of the Europeans, illustrating the important
connection between China and Europe, its top export market. Notably, the outcome of slower growth was exactly the goal of the central government
earlier in the year. Chinese policymakers tightened liquidity and restricted loan expansion to slow growth to more sustainable levels.
By the end of November, the government reversed course and cut its bank reserve requirement ratio by 50 basis points in an admission that
perhaps the pendulum had swung too far. That was the first sign of easing since 2008 amid slowing exports and industrial production. If
China continues to ease monetary policy and if the situation in Europe stabilizes, Chinese equities will likely prove undervalued. The average
P/E of the China Opportunities Fund is presently near its low since the inception of the fund. Based on the data we have to date, we believe
China will experience slower growth in 2012 than in 2011, but perhaps faster than the consensus seems to be expecting, particularly if the
government continues to ease monetary policy. Either way, we are confident growth in China is likely to be faster than that of the developed
western world.
Read More> |
Ralf Scherschmidt is featured on Ticker.com "Leveraging Transformational Changes"
January 18, 2012
Read More> |
 Jeff Papp discusses the China 2012 Economic Outlook
December 29, 2011
View Now> |
 Steve Forbes Interview: Jim Oberweis, President Of Oberweis Asset Management, Part 2
December 26, 2011
View Now> |
 Steve Forbes Interview: Jim Oberweis, President Of Oberweis Asset Management, Part 1
December 19, 2011
View Now>
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The Oberweis Funds Net Asset Values as of 2/6/12 |
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| For more complete information on The Oberweis Funds, including all charges, expenses, and the risks associated with the funds, please view the prospectus or call (800) 323-6166 to request a copy. Please read it carefully before you invest or send money. The Oberweis Funds invest in rapidly growing smaller and medium sized companies which may offer greater return potential. However, these investments often involve greater risks and volatility. There is no guarantee that the funds can achieve their objectives. |
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800-245-7311
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