Other 2012-06-30 0001014913 2012-11-06 FRONTEGRA FUNDS INC false 2012-11-06 2012-11-01 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund <br />shares are held in a taxable account. These costs, which are not reflected in <br />annual fund operating expenses or in the example, affect the Fund's performance. <br />During its most recent fiscal year, the Fund had a portfolio turnover rate of <br />50% of the verage value of its portfolio.</tt> <div style="display:none">~ http://www.frontegra.com/role/ExpenseExample_S000030151Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.frontegra.com/role/BarChartData_S000030151Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The investment objective of the Frontegra Phocas Small Cap Value Fund <br />(the "Fund") is long-term total investment return through capital <br />appreciation. This investment objective is fundamental and may not be <br />changed without shareholder approval.</tt> <tt>The following example is intended to help you compare the cost of investing <br />in the shares of the Fund with the cost of investing in other mutual funds. <br />The example assumes that you invest $10,000 in the Fund for the time periods <br />indicated and then redeem all of your shares at the end of those periods. The <br />example also assumes that your investment has a 5% return each year and that <br />the Fund's operating expenses remain the same.</tt> reflects no deductions for fees, expenses or taxes <tt>Under normal market conditions, the Fund invests at least 80% of its net <br />assets in domestic common stocks and other equity securities (including <br />convertible preferred stocks and warrants) of small-capitalization companies, <br />consistent with companies within the Russell 2000&#xAE; Value Index. As of <br />September 30, 2012, the largest market capitalization of a company in the <br />Russell 2000&#xAE; Value Index was $3.8 billion and the weighted average market <br />capitalization was $1.1 billion. For purposes of the 80% policy, net assets <br />include any borrowings for investment purposes.<br /> <br />The Fund will pursue its investment objective by investing in a diversified <br />portfolio of small-capitalization securities selling at discounts to their <br />fair value as assessed by the investment and research team of Phocas Financial <br />Corporation ("Phocas"), the Fund's subadviser. Phocas will typically invest <br />in 80 to 120 companies with initial weightings between 0.50% to 1.50% of total <br />Fund value in order to have broad industry representation and reduce individual <br />security risk within the Fund.</tt> SUMMARY SECTION Acquired Fund Fees and Expenses ("AFFE") are fees and expenses incurred by the Fund in connection with its investments in other investment companies. Total Annual Fund Operating Expenses shown will not correlate to the Fund's ratio of expenses to average net assets appearing in the Financial Highlights table, which does not include AFFE. Example. The after-tax returns for the Fund were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Objective. Please keep in mind that the Fund's past performance (before and after taxes) does not necessarily represent how it will perform in the future. If the value of the Fund's investments goes down, the share price of the Fund will go down, and you may lose money. Principal Investment Risks. Shareholder Fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: The return after taxes on distributions and sale of Fund shares is higher than other return figures when a capital loss occurs upon the redemption of Fund shares. 0.50 Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Calendar Year Total Returns Performance. <tt>The after-tax returns for the Fund were calculated using the historical <br />highest individual federal marginal income tax rates and do not reflect <br />the impact of state and local taxes. Actual after-tax returns depend <br />on an investor's tax situation and may differ from those shown, and <br />after-tax returns are not relevant to investors who hold shares of the <br />Fund through tax-deferred arrangements, such as 401(k) plans or individual <br />retirement accounts.<br /> <br />The return after taxes on distributions and sale of Fund shares is higher <br />than other return figures when a capital loss occurs upon the redemption <br />of Fund shares.</tt> The return information provided in the following bar chart and table illustrates how the performance of the Fund can vary, which is one indication of the risks of investing in the Fund. <tt>The Fund's return from January 1, 2012 through September 30, 2012 was 8.09%. <br /><br />Best and Worst Quarterly Performance (during the periods shown above) <br /><br />Best Quarter Return&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Worst Quarter Return <br /><br />22.69% (3rd quarter, 2009) (20.11)% (4th quarter, 2011)</tt> 1-888-825-2100 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns (For periods ended December 31, 2011) Portfolio Turnover. <tt>Market Risks. The Fund's investments are subject to market risk, which may<br />cause the value of the Fund's investments to decline. If the value of the<br />Fund's investments goes down, the share price of the Fund will go down, and <br />you may lose money. U.S. and international markets have experienced extreme<br />volatility, reduced liquidity, credit downgrades, increased likelihood of<br />default and valuation difficulties in recent years.<br /> <br />Equity Securities Risks. Common stocks and other equity securities held by <br />the Fund will fluctuate in value based on the earnings of the company and <br />on general industry and market conditions, leading to fluctuations in the <br />Fund's share price.<br /> <br />Stock Selection Risks. The stocks selected for the Fund may decline in value <br />or not increase in value when the stock market in general is rising.<br /> <br />Foreign Securities Risks. Investments in securities of foreign companies<br />involve additional risks, including less liquidity, currency-rate fluctuations,<br />political and economic instability and differences in financial reporting<br />standards and securities market regulation.<br /> <br />Management Risks. The Fund is subject to management risk as an actively-managed<br />investment portfolio and depends on the decisions of the portfolio managers to<br />produce the desired results.<br /> <br />Small Capitalization Company Risks. Securities of companies with small market<br />capitalizations are often more volatile, less liquid and more susceptible to<br />market pressures than larger companies.<br /> <br />Value Investing Risks. The Fund invests primarily in value-style stocks, stocks<br />whose prices Phocas believes are undervalued in relation to fundamental measures. <br />Value stocks may never increase in price or pay dividends as anticipated by Phocas, <br />or may decline even further if the market fails to recognize the company's value, <br />if the factors that Phocas believes will increase the price do not occur or if a <br />stock judged to be undervalued is actually appropriately priced.<br /> <br />Sector Risks. Although Phocas selects stocks based on their individual merits,<br />some economic sectors will represent a larger portion of the Fund's overall<br />investment portfolio than other sectors. Potential negative market or economic<br />developments affecting one of the larger sectors could have a greater impact on<br />the Fund than on a fund with fewer holdings in that sector.</tt> Fees and Expenses of the Fund. Principal Investment Strategy. www.frontegra.com <tt>The Fund is the successor to the Phocas Small Cap Value Fund (the "Predecessor <br />Fund") pursuant to a reorganization that was completed on October 8, 2010. Prior <br />to this date, the Fund had no investment operations. Accordingly, the performance <br />and financial information for periods prior to October 8, 2010 is historical <br />information for the Predecessor Fund. The Fund has investment objectives, <br />strategies and policies substantially similar to the Predecessor Fund, which <br />was advised by Phocas, the current subadviser to the Fund. The Predecessor Fund <br />was subject to different expenses than the Institutional Class shares offered by <br />this prospectus. Accordingly, the performance for the Predecessor Fund may differ <br />from that of the Fund. <br /><br />The return information provided in the following bar chart and table illustrates<br />how the performance of the Fund can vary, which is one indication of the risks<br />of investing in the Fund. The bar chart shows the changes in the Fund's<br />performance from year to year. The table shows how the Fund's average annual<br />returns compare with a broad measure of market performance. Please keep in mind<br />that the Fund's past performance (before and after taxes) does not necessarily<br />represent how it will perform in the future. Updated performance data is<br />available on the Company's website at www.frontegra.com or by calling toll-free<br />to 1-888-825-2100.</tt> <tt>This table describes the fees and expenses that you may pay if you <br />buy and hold Institutional Class shares of the Fund.</tt> <div style="display:none">~ http://www.frontegra.com/role/OperatingExpensesData_S000030151Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.frontegra.com/role/PerformanceTableData_S000030151Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.frontegra.com/role/ShareholderFeesData_S000030151Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Russell 2000® Value Index (reflects no deductions for fees, expenses or taxes) -0.0550 -0.0187 -0.0016 2006-09-29 Return After Taxes on Distributions and Sale of Fund Shares -0.0388 0.0095 0.0248 2006-09-29 Return After Taxes on Distributions -0.0600 0.0105 0.0283 2006-09-29 FPSVX Worst Quarter Return Best Quarter Return 15.00 2012-09-30 Return Before Taxes 128 2009-09-30 675 -0.2011 -0.0131 0.2994 2807 0.00 1248 -0.0746 0.2269 -0.0599 0.0141 -0.2468 0.0100 2013-10-31 2011-12-31 0.2429 0.0114 The Fund's return from January 1, 2012 through September 30, 2012 -0.0599 0.00 0.0126 0.0257 0.0292 2006-09-29 0.0809 0.0016 0001014913 ck0001014913:SummaryS000030151Memberck0001014913:S000030151Memberck0001014913:C000092611Member 2012-11-01 2012-11-01 0001014913 ck0001014913:SummaryS000030151Memberck0001014913:S000030151Memberrr:AfterTaxesOnDistributionsMemberck0001014913:C000092611Member 2012-11-01 2012-11-01 0001014913 ck0001014913:SummaryS000030151Memberck0001014913:S000030151Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0001014913:C000092611Member 2012-11-01 2012-11-01 0001014913 ck0001014913:SummaryS000030151Memberck0001014913:S000030151Memberck0001014913:RRINDEX00001Member 2012-11-01 2012-11-01 0001014913 ck0001014913:SummaryS000030151Memberck0001014913:S000030151Member 2012-11-01 2012-11-01 0001014913 2012-11-01 2012-11-01 pure iso4217:USD Acquired Fund Fees and Expenses ("AFFE") are fees and expenses incurred by the Fund in connection with its investments in other investment companies. Total Annual Fund Operating Expenses shown will not correlate to the Fund's ratio of expenses to average net assets appearing in the Financial Highlights table, which does not include AFFE. Pursuant to an expense cap agreement between Frontegra Asset Management, Inc. ("Frontegra"), the Fund's investment adviser, and the Fund, Frontegra has contractually agreed to waive its management fee and/or reimburse the Fund's operating expenses to the extent necessary to ensure that the Fund's total operating expenses (excluding taxes, interest, brokerage commissions, AFFE and extraordinary expenses) do not exceed 1.10% of the Fund's average daily net assets. Frontegra is entitled to recoup the fees waived and/or expenses reimbursed within a three-year period from the time the expenses were incurred to the extent of the expense limitation. The expense cap agreement will continue in effect until October 31, 2013 with successive renewal terms of one year unless terminated by Frontegra or the Company prior to any such renewal. "Other Expenses" are presented before any waivers or expense reimbursements and have been restated to reflect estimated current expenses due to a decrease in the Fund's assets since fiscal year end. Returns for calendar years 2007-2009 and for the period from January 1, 2010 to October 7, 2010 reflect the performance of the Predecessor Fund. Returns for the period from October 8, 2010 to December 31, 2011 reflect the performance of the Class L shares of the Fund. Effective November 1, 2012, the Class L shares were redesignated as Institutional Class shares. Fund returns for the period from September 29, 2006 to October 7, 2010 reflect the performance of the Predecessor Fund. Fund returns for the period from October 8, 2010 to December 31, 2011 reflect the performance of the Class L shares of the Fund. Effective November 1, 2012, the Class L shares were redesignated as Institutional Class shares. The Fund commenced operations on September 29, 2006.