497 1 wbi_497e.htm SUPPLEMENTARY MATERIALS wbi_497e.htm  
April 24, 2015
 
 

 
WBI ABSOLUTE RETURN BALANCED FUND
                                                                                                                                     No Load
WBADX                                                                                                                      
                                                                                                                                             Institutional
WBBAX                                                                                                                     

WBI ABSOLUTE RETURN BALANCED PLUS FUND
                                                                                                                                      No Load 
WBPNX                                                                                                                      
                                                                                                                                               Institutional  
WBBPX                                                                                                                      

WBI ABSOLUTE RETURN DIVIDEND INCOME FUND
                                                                                                                                      No Load 
WBDNX                                                                                                                     
                                                                                                                                              Institutional 
 WBDIX                                                                                                                        

WBI ABSOLUTE RETURN DIVIDEND GROWTH FUND
                                                                                                                                       No Load  
WBIDX                                                                                                                        
                                                                                                                                             Institutional
WBDGX                                                                                                                     

(each a “Fund”, collectively the “Funds”)

Each Fund is a series of Advisors Series Trust.

Supplement to the Summary Prospectuses, Prospectus and Statement of Additional
Information (“SAI”) each dated March 30, 2015

Effective immediately, Mr. Craig French will no longer serve as Portfolio Manager and Fund co-portfolio manager to the Funds.  Therefore, please disregard all references to Mr. French in the Summary Prospectuses, Prospectus and SAI for the Funds.




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Please retain this Supplement with your Summary Prospectuses, Prospectus and SAI.
The date of this Supplement is April 24, 2015.