The fund pursues its investment goal by investing in a diversified portfolio of equity and equity-related securities of any market capitalization. It has no restrictions as to the size of the companies in which it invests. The fund may invest in what generally are considered small-cap stocks, mid-cap stocks and large-cap stocks. It invests in a portfolio of securities the Adviser believes has the potential for long-term capital appreciation. The fund invests primarily in securities listed on securities exchanges or actively traded in over-the-counter markets.

Nasdaq

OWACX

The fund invests primarily in a non-diversified portfolio of investment-grade municipal securities. It invests at least 80% of its net assets plus investment borrowings in investments the income from which is exempt from federal income tax and California income tax, but not necessarily the federal alternative minimum tax. The fund may invest in ETFs, U.S. Treasury securities, securities subject to the federal alternative minimum tax, and inflation-protected securities and similar bonds issued by governments outside of the United States. Fixed income securities held by the fund may be of any maturity. It is non-diversified.

OWCAX

The fund primarily invests in credit instruments and derivatives linked to credit instruments, including short exposure, with no limits on high-yield bonds. It may also invest in debt instruments of any credit rating and is non-diversified.

OWCIX

The fund invests primarily in a diversified portfolio of investment-grade bonds and notes of any maturity. It invests at least 80% of its net assets, plus borrowings for investment purposes, in investment-grade fixed income securities including corporate, asset-backed, mortgage-backed, and U.S. government securities.

OWFIX

Under normal circumstances, the fund invests at least 80% of its net assets, including any borrowings for investment purposes, in securities of large capitalization companies. The Adviser currently defines large capitalization companies as companies having, at the time of initial investment, a market capitalization equal to or greater than the largest 70% by market capitalization of the companies that comprise the MSCI ACWI Investable Market Index (IMI).

OWLSX

The fund invests at least 80% of its net assets plus investment borrowings in investments the income from which is exempt from federal income tax, but not necessarily the federal alternative minimum tax. The fund invests, as a non-fundamental policy, at least 80% of its net assets, plus borrowings for investment purposes, in municipal bonds. The fund also may invest in exchange-traded funds ("ETFs").

OWMBX

The fund invests primarily in a non-diversified portfolio of investment-grade municipal securities. It invests, as a fundamental policy, at least 80% of its net assets plus investment borrowings, under normal circumstances, in investments the income from which is exempt from federal income tax and New York income tax, but not necessarily the federal alternative minimum tax. The fund may invest in ETFs, U.S. Treasury securities, securities subject to the federal alternative minimum tax, and inflation-protected securities such as TIPS and similar bonds issued by governments outside of the United States. It is non-diversified.

OWNYX

The investment seeks long-term capital appreciation. The fund invests in a broad, diversified portfolio of securities of small and medium capitalization companies traded on a principal U.S. exchange or U.S. over-the-counter market, and securities of small and medium capitalization non-U.S. companies in foreign countries, including emerging market countries. Under normal circumstances, the fund invests at least 80% of its net assets, including borrowings for investment purposes, in securities of small and medium capitalization companies.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield	Risk / Return Rank
OWACX	Old Westbury All Cap Core Fund	Large Cap Growth Equities	Mar 2, 1998	0.96%	-4.89%	12.40%	8.60%	15
OWCAX	Old Westbury California Municipal Bond Fund	Municipal Bonds	Dec 3, 2018	0.57%	-0.63%	—	2.58%	45
OWCIX	Old Westbury Credit Income Fund	Multisector Bonds	Sep 30, 2020	0.85%	0.06%	—	5.31%	51
OWFIX	Old Westbury Fixed Income Fund	Intermediate Core Bond	Mar 12, 1998	0.57%	-0.10%	1.72%	3.78%	71
OWLSX	Old Westbury Large Cap Strategies Fund	Global Equities	Oct 21, 1993	1.09%	-3.72%	9.45%	12.99%	40
OWMBX	Old Westbury Municipal Bond Fund	Municipal Bonds	Mar 5, 1998	0.57%	-0.50%	1.38%	2.64%	39
OWNYX	Old Westbury New York Municipal Bond Fund	Municipal Bonds	Dec 3, 2018	0.57%	-0.43%	—	2.41%	40
OWSMX	Old Westbury Small & Mid Cap Strategies Fund	Global Equities	Apr 4, 2005	1.10%	1.26%	7.14%	8.30%	63

Old Westbury Mutual Funds List

Risk vs. Return Scatterplot