Davidson Multi-Cap Equity Fund (the "Fund") is a diversified mutual fund that seeks long-term capital appreciation by investing in companies across a wide range of market capitalizations and investment styles.

Davidson Investment Advisors, Inc. (the "Advisor") is the investment adviser to the Fund and is located at Davidson Building, 8 Third Street North, Great Falls, Montana 59401. The Fund is a series of Advisors Series Trust (the "Trust"). The Fund does not hold itself out as related to any other series of the Trust for purposes of investment and investor services, nor does it share the same investment advisor with any other series.

Please refer to the Prospectus for important information about the investment company including objectives, risks, charges, and expenses. Read and consider it carefully before investing. You may also obtain a hard copy of the prospectus by calling 1-877-332-0529.

You must have the Adobe Acrobat Reader plug-in installed to view the prospectus or other materials in this site. Click here to download Adobe Acrobat for free.

To learn more about the Fund, click on the sections in the left navigation bar.

The Davidson Multi-Cap Equity Fund is offered to United States residents, and information on this site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of the Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

Mutual fund investing involves risk. Principal loss is possible. Small- and Medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Growth stocks typically are more volatile than value stocks; however, value stocks have a lower expected growth rate in earnings and sales. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods.

Because the fund may invest in ETFs, it is subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF's shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a fund's ability to sell its shares. The fund will bear its share of the fees and expenses of the underlying funds. Shareholders will pay higher expenses than would be the case if making direct investments in the underlying ETFs.

The Davidson Multi-Cap Equity Fund is distributed by Quasar Distributors, LLC