Professionally Managed Portfolios - Otter Creek Long/Short Opportunity Fund (Otter Creek Long/Short Opportun) fond

The manager employs a long/short investment strategy to achieve capital appreciation and manage risk. The manager takes long positions in securities Otter Creek believes to be undervalued and short positions in securities Otter Creek believes to be overvalued. The fund's objective is to provide long-term capital appreciation. Under normal market conditions, the net long exposure of the fund (gross long exposures minus gross short exposures) is expected to range between -35% and +80% net long.