REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
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Pre-Effective Amendment No.
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Post-Effective Amendment No.
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493
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REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
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Amendment No.
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494
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Elaine E. Richards, Esq.
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Professionally Managed Portfolios
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2020 E. Financial Way, Ste. 100
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Glendora, CA 91741
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Domenick Pugliese, Esq.
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Paul Hastings LLP
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Park Avenue Tower
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75 East 55th Street
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New York, NY 10022
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immediately upon filing pursuant to paragraph (b)
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On (date) pursuant to paragraph (b)
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60 days after filing pursuant to paragraph (a)(1)
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on (date) pursuant to paragraph (a)(1)
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75 days after filing pursuant to paragraph (a)(2)
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on (date) pursuant to paragraph (a)(2) of Rule 485.
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This post-effective amendment designates a new effective date for a previously filed post- effective amendment.
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Signature
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Title
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Date
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Steven J. Paggioli*
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Trustee
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February 22, 2013
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Steven J. Paggioli
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Dorothy A. Berry*
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Trustee
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February 22, 2013
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Dorothy A. Berry
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Wallace L. Cook*
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Trustee
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February 22, 2013
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Wallace L. Cook
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Carl A. Froebel*
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Trustee
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February 22, 2013
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Carl A. Froebel
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Eric W. Falkeis*
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President and Trustee
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February 22, 2013
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Eric W. Falkeis
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Patrick J. Rudnick*
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Treasurer and Principal
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February 22, 2013
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Patrick J. Rudnick
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Financial and Accounting
Officer
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*By: /s/ Elaine E. Richards
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February 22, 2013
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Elaine E. Richards, Attorney-In Fact
pursuant to Power of Attorney
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Exhibit
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Exhibit No.
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Instance Document
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EX-101.INS
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Schema Document
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EX-101.SCH
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Calculation Linkbase Document
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EX-101.CAL
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Definition Linkbase Document
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EX-101.DEF
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Label Linkbase Document
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EX-101.LAB
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Presentation Linkbase Document
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EX-101.PRE
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Boston Common U.S. Equity Fund | Boston Common U.S. Equity Fund | |||||||||||||||||||||||
Boston Common U.S. Equity Fund | |||||||||||||||||||||||
Investment Objective | |||||||||||||||||||||||
The Boston Common U.S. Equity Fund (the “U.S. Equity Fund”) seeks long-term capital appreciation. |
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Fees and Expenses of the Fund | |||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the U.S. Equity Fund. |
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Redemption Fee (as a percentage of amount redeemed within 30 days of purchase) | |||||||||||||||||||||||
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Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | |||||||||||||||||||||||
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Example | |||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the U.S. Equity Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (taking into account the contractual Expense Cap for the first year). |
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Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | |||||||||||||||||||||||
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Portfolio Turnover | |||||||||||||||||||||||
The U.S. Equity Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the above example, affect the Fund’s performance. Since the Fund’s inception on April 30, 2012, through the fiscal period ended September 30, 2012, the U.S. Equity Fund’s portfolio turnover rate was 10% of the average value of its portfolio. |
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Principal Investment Strategies | |||||||||||||||||||||||
Boston Common seeks to preserve and build capital over the long term through investing in a diversified portfolio of stocks and American Depositary Receipts (“ADRs”) of companies we believe are high quality and undervalued. We look for companies with sound governance and a history of responsible financial management that we believe are capable of consistent profitability over a long time horizon. We include those companies in our portfolios that we believe are operating successfully in economic sectors with superior end-market growth, or are beneficiaries of broader sector themes we have identified, but that we judge to be trading at discounts to their intrinsic value. We seek to integrate environmental, social, and governance (“ESG”) criteria into the stock selection process and express a preference for best-in-class firms with innovative approaches to the environmental and social challenges their industries, society, and the world face. Best-in-class refers to firms that Boston Common views as having better records on ESG criteria than other firms in the same industry or sector. Boston Common endeavors to integrate financial and sustainability factors into its investment process because we believe ESG research helps us identify companies that will be successful over the long-term. We seek companies that can capitalize on new market opportunities, implement efficiency improvements and avoid unanticipated costs stemming from inadequate attention to ESG risks. As a result, we believe ESG research helps improve portfolio quality and financial return potential. Boston Common selects stocks through bottom-up, fundamental research, while maintaining a disciplined approach to valuation and risk control. We may sell a security when its price reaches a set target, if we believe that other investments are more attractive, or for other reasons we may determine. We use our voice as a shareowner to raise environmental, social, and governance issues with the management of select portfolio companies through a variety of channels. These may include engaging in dialogue with management, participating in shareholder proposal filings, voting proxies in accordance with our proxy voting guidelines, and participating in the annual shareholder meeting process. Through this effort, we seek to encourage company managements towards greater transparency, accountability, disclosure and commitment to ESG issues. The U.S. Equity Fund will normally invest at least 80% of its net assets, including borrowings for investment purposes, in equity securities of U.S. companies. Equity securities include common and preferred stocks as well as securities that are convertible into common stocks. The Fund may also invest up to 20% of its total assets in ADRs. The Fund generally seeks to invest in companies that have market capitalizations of $2 billion or greater. The U.S. Equity Fund will not change its investment policy of investing at least 80% of its net assets in equity securities of U.S. companies without first changing the Fund’s name and providing shareholders with at least 60 days’ prior written notice. |
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Principal Investment Risks | |||||||||||||||||||||||
There is the risk that you could lose all or a portion of your investment in the U.S. Equity Fund. The following risks could affect the value of your investment in the Fund:
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Performance | |||||||||||||||||||||||
Because the U.S. Equity Fund recently commenced operations, it does not have a full calendar year of performance to compare against a broad measure of market performance. Accordingly, performance information is not available. Performance information will be available after the Fund has been in operation for one calendar year. At that time, the performance information will provide some indication of the risks of investing in the Fund by comparing it against a broad measure of market performance. |