MANAGERS AMG FUNDS 2012-06-27 2012-06-28 2011-12-31 485BPOS 0001089951 false 2012-06-28 <div style="display:none">~ http://www.managersinvest.com/role/PerformanceTableData_S000037566Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> An investment in the Fund is not a deposit or obligation of any bank, is not endorsed or guaranteed by any bank, and is not insured by the Federal Deposit Insurance Corporation ("FDIC") or any other government agency. <div style="display:none">~ http://www.managersinvest.com/role/ShareholderFeesData_S000037566Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> EXPENSE EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. "Other Expenses" have been adjusted as necessary from amounts incurred during the Predecessor Yacktman Fund's (as defined below) most recent fiscal year to reflect current fees and expenses. INVESTMENT OBJECTIVE As always, past performance of the Fund (before and after taxes) is not an indication of how the Fund will perform in the future. There is the risk that you may lose money on your investment. PRINCIPAL RISKS Shareholder Fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on the above assumptions, your costs would be: The Fund's returns after taxes on distributions and sale of Fund shares may be higher than its returns after taxes on distributions because they include a tax benefit resulting from the capital losses that would have been incurred. 0.03 Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Calendar Year Total Returns as of 12/31/11 (Service Class) PERFORMANCE <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Actual after-tax returns depend on an investor's tax situation and may<br />differ from those shown. After-tax returns are not relevant to investors who<br />hold their Fund shares through tax-deferred arrangements, such as 401(k) plans<br />or individual retirement accounts. After-tax returns are shown for Service Class<br />shares only, and after-tax returns for Investor and Institutional Classes will<br />vary. The Fund's returns after taxes on distributions and sale of Fund shares<br />may be higher than its returns after taxes on distributions because they include<br />a tax benefit resulting from the capital losses that would have been incurred.</tt> The following performance information illustrates the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's performance compares to that of a broad based securities market index. <tt>Best Quarter: 34.83% (2nd Quarter 2009) <br /><br />Worst Quarter: -18.44% (4th Quarter 2008) <br /><br />Year-to-Date (as of 3/31/12): 7.48%</tt> <tt>The Fund invests primarily in domestic equity securities. The Fund, however,<br />also may invest in foreign equity securities and debt securities.<br /> <br />The Fund may invest up to 20% of its assets in foreign equity securities. This<br />20% limit does not apply to investments in the form of American Depositary<br />Receipts (ADRs). The Fund's investments in equity securities may include common<br />stocks, preferred stocks, convertible preferred stocks and ADRs. Some, but not<br />all, of the equity securities will pay a dividend.<br /> <br />The Fund's investments in debt securities may include U.S. Treasury notes and<br />bonds, investment grade corporate debt securities, convertible debt securities<br />and debt securities below investment grade (high yield or junk bonds). The Fund<br />may invest up to 20% of its assets in such debt securities, including junk<br />bonds, in any proportion provided that the total invested does not exceed the<br />20% threshold.<br /> <br />The Fund's subadvisor, Yacktman Asset Management LP ("Yacktman" or the<br />"Subadvisor"), employs a disciplined investment strategy. The Fund invests in<br />securities of any size company at levels the Subadvisor believes offer an<br />attractive forward rate of return. When the Subadvisor purchases stocks, it<br />generally searches for companies that it believes possess one or more of the<br />following three attributes: (1) good business; (2) shareholder-oriented<br />management; or (3) low purchase price. The Fund generally sells companies that<br />no longer meet its investment criteria, or if better investment opportunities<br />are available.</tt> Yacktman Fund Average Annual Total Returns as of 12/31/11 PORTFOLIO TURNOVER <tt>There is the risk that you may lose money on your investment. All investments<br />carry a certain amount of risk and the Fund cannot guarantee that it will<br />achieve its investment objective. An investment in the Fund is not a deposit <br />or obligation of any bank, is not endorsed or guaranteed by any bank, and is <br />not insured by the Federal Deposit Insurance Corporation ("FDIC") or any other<br />government agency. Below are some of the risks of investing in the Fund.<br /> <br />Credit Risk--the issuer of bonds or other debt securities may not be able to meet<br />interest or principal payments when the bonds come due.<br /> <br />Currency Risk--fluctuations in exchange rates may affect the total loss or gain<br />on a non-U.S. dollar investment when converted back to U.S. dollars.<br /> <br />Foreign Securities Risk--securities or other investments of foreign issuers<br />involve additional risks (such as risks arising from less frequent trading,<br />changes in political or social conditions, and less publicly available<br />information about non-U.S. issuers) that differ from those associated with<br />investing in securities of U.S. issuers and may result in greater price<br />volatility.<br /> <br />High Yield Risk-below--investment grade debt securities and unrated securities of<br />similar credit quality (commonly known as "junk bonds" or "high yield securities") <br />may be subject to greater levels of interest rate, credit, and liquidity risk.<br /> <br />Interest Rate Risk--fixed-coupon payments (cash flows) of bonds and debt<br />securities may become less competitive with the market in periods of rising<br />interest rates and cause bond prices to decline.<br /> <br />Large-Capitalization Stock Risk--the stocks of large-capitalization companies are<br />generally more mature and may not be able to reach the same levels of growth as<br />the stocks of small- or mid-capitalization companies.<br /> <br />Market Risk--market prices of securities held by the Fund may fall rapidly or<br />unpredictably due to a variety of factors, including changing economic,<br />political, or market conditions.<br /> <br />Sector Risk--companies or issuers that are in similar industry sectors may be<br />similarly affected by particular economic or market events; to the extent the<br />Fund has substantial holdings within a particular sector, the risks associated<br />with that sector increase. Stocks in the consumer staples sector currently, and<br />may in the future, comprise a significant portion of the Fund's portfolio. The<br />consumer staples industries may be significantly affected by demographic and<br />product trends, competitive pricing, food fads, marketing campaigns,<br />environmental factors, and government regulation, as well as the performance of<br />the overall economy, interest rates, and consumer confidence.<br /> <br />Small- and Mid-Capitalization Stock Risk--the stocks of small- and<br />mid-capitalization companies often have greater price volatility, lower trading<br />volume, and less liquidity than the stocks of larger, more established<br />companies.<br /> <br />Value Stock Risk--value stocks may perform differently from the market as a<br />whole and may be undervalued by the market for a long period of time.</tt> FEES AND EXPENSES OF THE FUND After-tax returns are shown for Service Class shares only, and after-tax returns for Investor and Institutional Classes will vary. PRINCIPAL INVESTMENT STRATEGIES www.managersinvest.com <tt>The following performance information illustrates the risks of investing in the<br />Fund by showing changes in the Fund's performance from year to year and by<br />showing how the Fund's performance compares to that of a broad based securities<br />market index. As always, past performance of the Fund (before and after taxes)<br />is not an indication of how the Fund will perform in the future.<br /> <br />The performance information shown for the Fund's Service Class shares is that of<br />the Predecessor Yacktman Fund, which is expected to be reorganized into the Fund<br />on or about June 29, 2012, and was managed by Yacktman with the same investment<br />objective and substantially similar investment strategies as those of the Fund.<br />Because the Fund's Investor Class and Institutional Class shares have not<br />operated for a full calendar year, performance history for these share classes<br />is not available. Investor Class and Institutional Class shares would have<br />similar annual returns as Service Class shares because all of the classes are<br />invested in the same portfolio of securities. However, Investor Class and<br />Institutional Class shares are subject to different expenses than Service Class<br />shares, and Investor Class and Institutional Class share performance would vary<br />to that extent.<br /> <br />To obtain updated performance information please visit www.managersinvest.com or<br />call 800.835.3879.</tt> <tt>The tables below describe the fees and expenses that you may pay if you buy and<br />hold shares of the Fund.</tt> <div style="display:none">~ http://www.managersinvest.com/role/OperatingExpensesData_S000037566Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> 800.835.3879 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <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 the most recent fiscal year, the predecessor to the Fund, The Yacktman<br />Fund, a series of The Yacktman Funds, Inc. (the "Predecessor Yacktman Fund"),<br />had a portfolio turnover rate of 3% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.managersinvest.com/role/ExpenseExample_S000037566Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.managersinvest.com/role/BarChartData_S000037566Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Yacktman Fund's (the "Fund") investment objective is to seek long-term<br />capital appreciation and, to a lesser extent, current income.</tt> <tt>This Example will help you compare the cost of investing in the Fund to the cost<br />of investing in other mutual funds. The Example makes certain assumptions. It<br />assumes that you invest $10,000 as an initial investment in the Fund for the<br />time periods indicated and then redeem all of your shares at the end of those<br />periods. It also assumes that your investment has a 5% total return each year<br />and the Fund's operating expenses remain the same.</tt> reflects no deduction for fees, expenses, or taxes N/A 798 -0.0200 357 0.0008 0.0056 65 205 0.0000 0.0064 N/A 1386 -0.0200 628 0.0033 0.0056 116 362 0.0025 0.0114 YACKX 0.0748 2008-12-31 0.1141 -0.1844 0.0993 0.1264 978 -0.0200 439 0.0339 0.3483 0.0730 0.0023 -0.2605 0.0056 0.5931 0.0804 -0.0130 Service Class Return Before Taxes 81 2009-06-30 252 0.3303 0.0000 0.1063 0.0079 0.1595 Year-to-Date 0.0730 Worst Quarter: Best Quarter: 2012-03-31 0.0503 0.0671 Service Class Return After Taxes on Distributions and Sale of Fund Shares 0.0904 0.0709 0.0710 Service Class Return After Taxes on Distributions 0.0953 0.0211 -0.0025 S&P 500® Index (reflects no deduction for fees, expenses, or taxes) 0.0292 the Fund is non-diversified and therefore a greater percentage of holdings may be concentrated in a small number of issuers or a single issuer, such as a corporate or government entity, which can place the Fund at greater risk. <div style="display:none">~ http://www.managersinvest.com/role/PerformanceTableData_S000037565Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> An investment in the Fund is not a deposit or obligation of any bank, is not endorsed or guaranteed by any bank, and is not insured by the Federal Deposit Insurance Corporation ("FDIC") or any other government agency. <div style="display:none">~ http://www.managersinvest.com/role/ShareholderFeesData_S000037565Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> EXPENSE EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. INVESTMENT OBJECTIVE As always, past performance of the Fund (before and after taxes) is not an indication of how the Fund will perform in the future. There is the risk that you may lose money on your investment. PRINCIPAL RISKS Shareholder Fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on the above assumptions, your costs would be: The Fund's returns after taxes on distributions and sale of Fund shares may be higher than its returns after taxes on distributions because they include a tax benefit resulting from the capital losses that would have been incurred. 0.02 Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Calendar Year Total Returns as of 12/31/11 (Service Class) PERFORMANCE <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Actual after-tax returns depend on an investor's tax situation and may<br />differ from those shown. After-tax returns are not relevant to investors who<br />hold their Fund shares through tax-deferred arrangements, such as 401(k) plans<br />or individual retirement accounts. After-tax returns are shown for Service Class<br />shares only, and after-tax returns for Investor and Institutional Classes will<br />vary. The Fund's returns after taxes on distributions and sale of Fund shares<br />may be higher than its returns after taxes on distributions because they include<br />a tax benefit resulting from the capital losses that would have been incurred.</tt> The following performance information illustrates the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's performance compares to that of a broad based securities market index. <tt>Best Quarter: 36.91% (2nd Quarter 2009) <br /><br />Worst Quarter: -18.84% (4th Quarter 2008) <br /><br />Year-to-Date (as of 3/31/12): 6.76%</tt> <tt>The Fund invests primarily in domestic equity securities. The Fund, however,<br />also may invest in foreign equity securities and debt securities.<br /> <br />The Fund may invest up to 20% of its assets in foreign equity securities. <br />This 20% limit does not apply to investments in the form of American Depositary<br />Receipts (ADRs). The Fund's investments in equity securities may include common<br />stocks, preferred stocks, convertible preferred stocks, warrants, options and<br />ADRs. Some, but not all, of the equity securities will pay a dividend.<br /> <br />The Fund's investments in debt securities may include U.S. Treasury notes and<br />bonds, investment grade corporate debt securities, convertible debt securities<br />and debt securities below investment grade (high yield or junk bonds). The Fund<br />may invest up to 20% of its assets in such debt securities, including junk<br />bonds, in any proportion provided that the total invested does not exceed the<br />20% threshold.<br /> <br />At times, depending on market and other conditions, and in the sole discretion<br />of the Fund's subadvisor, Yacktman Asset Management LP ("Yacktman" or the<br />"Subadvisor"), the Fund may invest a substantial portion of its assets in a<br />small number of issuers, business sectors or industries. Generally, the Fund<br />will hold between approximately 15-45 securities.<br /> <br />The Subadvisor employs a disciplined investment strategy. The Fund invests in<br />securities of any size company at levels the Subadvisor believes offer an<br />attractive forward rate of return. The Yacktman Focused Fund is non-diversified.<br />When the Subadvisor purchases stocks, it generally searches for companies that<br />it believes possess one or more of the following three attributes: (1) good<br />business; (2) shareholder-oriented management; or (3) low purchase price. The<br />Fund generally sells companies that no longer meet its investment criteria, or<br />if better investment opportunities are available.</tt> Yacktman Focused Fund Average Annual Total Returns as of 12/31/11 PORTFOLIO TURNOVER <tt>There is the risk that you may lose money on your investment. All investments<br />carry a certain amount of risk and the Fund cannot guarantee that it will<br />achieve its investment objective. An investment in the Fund is not a deposit <br />or obligation of any bank, is not endorsed or guaranteed by any bank, and is <br />not insured by the Federal Deposit Insurance Corporation ("FDIC") or any other<br />government agency. Below are some of the risks of investing in the Fund.<br /> <br />Credit Risk--the issuer of bonds or other debt securities may not be able to meet<br />interest or principal payments when the bonds come due.<br /> <br />Currency Risk--fluctuations in exchange rates may affect the total loss or gain<br />on a non-U.S. dollar investment when converted back to U.S. dollars.<br /> <br />Foreign Securities Risk--securities or other investments of foreign issuers<br />involve additional risks (such as risks arising from less frequent trading,<br />changes in political or social conditions, and less publicly available<br />information about non-U.S. issuers) that differ from those associated with<br />investing in securities of U.S. issuers and may result in greater price<br />volatility.<br /> <br />High Yield Risk-below--investment grade debt securities and unrated securities <br />of similar credit quality (commonly known as "junk bonds" or "high yield<br />securities") may be subject to greater levels of interest rate, credit, and<br />liquidity risk.<br /> <br />Interest Rate Risk--fixed-coupon payments (cash flows) of bonds and debt<br />securities may become less competitive with the market in periods of rising<br />interest rates and cause bond prices to decline.<br /> <br />Large-Capitalization Stock Risk--the stocks of large-capitalization companies are<br />generally more mature and may not be able to reach the same levels of growth as<br />the stocks of small- or mid-capitalization companies.<br /> <br />Market Risk--market prices of securities held by the Fund may fall rapidly or<br />unpredictably due to a variety of factors, including changing economic,<br />political, or market conditions.<br /> <br />Non-Diversified Fund Risk--the Fund is non-diversified and therefore a greater<br />percentage of holdings may be concentrated in a small number of issuers or a<br />single issuer, such as a corporate or government entity, which can place the<br />Fund at greater risk.<br /> <br />Sector Risk--companies or issuers that are in similar industry sectors may be<br />similarly affected by particular economic or market events; to the extent the<br />Fund has substantial holdings within a particular sector, the risks associated<br />with that sector increase. Stocks in the consumer staples sector currently, and<br />may in the future, comprise a significant portion of the Fund's portfolio. The<br />consumer staples industries may be significantly affected by demographic and<br />product trends, competitive pricing, food fads, marketing campaigns, environmental <br />factors, and government regulation, as well as the performance of the overall <br />economy, interest rates, and consumer confidence.<br /> <br />Small- and Mid-Capitalization Stock Risk--the stocks of small- and<br />mid-capitalization companies often have greater price volatility, lower trading<br />volume, and less liquidity than the stocks of larger, more established<br />companies.<br /> <br />Value Stock Risk--value stocks may perform differently from the market as a<br />whole and may be undervalued by the market for a long period of time.</tt> FEES AND EXPENSES OF THE FUND After-tax returns are shown for Service Class shares only, and after-tax returns for Investor and Institutional Classes will vary. PRINCIPAL INVESTMENT STRATEGIES www.managersinvest.com <tt>The following performance information illustrates the risks of investing in the<br />Fund by showing changes in the Fund's performance from year to year and by<br />showing how the Fund's performance compares to that of a broad based securities<br />market index. As always, past performance of the Fund (before and after taxes)<br />is not an indication of how the Fund will perform in the future.<br /> <br />The performance information shown for the Fund's Service Class shares is that of<br />the Predecessor Yacktman Focused Fund, which is expected to be reorganized into<br />the Fund on or about June 29, 2012, and was managed by Yacktman with the same<br />investment objective and substantially similar investment strategies as those of<br />the Fund. Because the Fund's Investor Class and Institutional Class shares have<br />not operated for a full calendar year, performance history for these share<br />classes is not available. Investor Class and Institutional Class shares would<br />have similar annual returns as Service Class shares because all of the classes<br />are invested in the same portfolio of securities. However, Investor Class and<br />Institutional Class shares are subject to different expenses than Service Class<br />shares, and Investor Class and Institutional Class share performance would vary<br />to that extent.<br /> <br />To obtain updated performance information please visit www.managersinvest.com or<br />call 800.835.3879.</tt> <tt>The table below describes the fees and expenses that you may pay if you buy <br />and hold shares of the Fund.</tt> <div style="display:none">~ http://www.managersinvest.com/role/OperatingExpensesData_S000037565Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> 800.835.3879 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment <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 the most recent fiscal year, the predecessor to the Fund, The Yacktman<br />Focused Fund, a series of The Yacktman Funds, Inc. (the "Predecessor Yacktman<br />Focused Fund"), had a portfolio turnover rate of 2% of the average value of <br />its portfolio.</tt> <div style="display:none">~ http://www.managersinvest.com/role/ExpenseExample_S000037565Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.managersinvest.com/role/BarChartData_S000037565Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Yacktman Focused Fund's (the "Fund") investment objective is to seek<br />long-term capital appreciation and, to a lesser extent, current income.</tt> <tt>This Example will help you compare the cost of investing in the Fund to <br />the cost of investing in other mutual funds. The Example makes certain <br />assumptions. It assumes that you invest $10,000 as an initial investment <br />in the Fund for the time periods indicated and then redeem all of your <br />shares at the end of those periods. It also assumes that your investment <br />has a 5% total return each year and the Fund's operating expenses remain <br />the same.</tt> reflects no deduction for fees, expenses, or taxes N/A 1317 -0.0200 595 0.0008 0.0100 110 343 0.0000 0.0108 N/A 1878 -0.0200 860 0.0033 0.0100 161 499 0.0025 0.0158 YAFFX 0.0676 2008-12-31 0.1499 -0.1884 0.0996 0.1184 1500 -0.0200 681 0.0346 0.3691 0.0741 0.0024 -0.2348 0.0100 0.6276 0.0913 -0.0183 Service Class Return Before Taxes 126 2009-06-30 393 0.3179 0.0000 0.1139 0.0124 0.1613 Year-to-Date 0.0741 Worst Quarter: Best Quarter: 2012-03-31 0.0506 0.0763 Service Class Return After Taxes on Distributions and Sale of Fund Shares 0.0985 0.0723 0.0821 Service Class Return After Taxes on Distributions 0.1044 0.0211 -0.0025 S&P 500® Index (reflects no deduction for fees, expenses, or taxes) 0.0292 0001089951 ck0001089951:SummaryS000037565Memberck0001089951:S000037565Memberck0001089951:RRINDEX00001Member 2012-06-28 2012-06-28 0001089951 ck0001089951:SummaryS000037565Memberck0001089951:S000037565Memberrr:AfterTaxesOnDistributionsMemberck0001089951:C000115978Member 2012-06-28 2012-06-28 0001089951 ck0001089951:SummaryS000037565Memberck0001089951:S000037565Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0001089951:C000115978Member 2012-06-28 2012-06-28 0001089951 ck0001089951:SummaryS000037565Memberck0001089951:S000037565Memberck0001089951:C000115978Member 2012-06-28 2012-06-28 0001089951 ck0001089951:SummaryS000037565Memberck0001089951:S000037565Memberck0001089951:C000115977Member 2012-06-28 2012-06-28 0001089951 ck0001089951:SummaryS000037565Memberck0001089951:S000037565Memberck0001089951:C000115979Member 2012-06-28 2012-06-28 0001089951 ck0001089951:SummaryS000037565Memberck0001089951:S000037565Member 2012-06-28 2012-06-28 0001089951 ck0001089951:SummaryS000037566Memberck0001089951:S000037566Memberck0001089951:RRINDEX00001Member 2012-06-28 2012-06-28 0001089951 ck0001089951:SummaryS000037566Memberck0001089951:S000037566Memberrr:AfterTaxesOnDistributionsMemberck0001089951:C000115981Member 2012-06-28 2012-06-28 0001089951 ck0001089951:SummaryS000037566Memberck0001089951:S000037566Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0001089951:C000115981Member 2012-06-28 2012-06-28 0001089951 ck0001089951:SummaryS000037566Memberck0001089951:S000037566Memberck0001089951:C000115981Member 2012-06-28 2012-06-28 0001089951 ck0001089951:SummaryS000037566Memberck0001089951:S000037566Memberck0001089951:C000115980Member 2012-06-28 2012-06-28 0001089951 ck0001089951:SummaryS000037566Memberck0001089951:S000037566Memberck0001089951:C000115982Member 2012-06-28 2012-06-28 0001089951 ck0001089951:SummaryS000037566Memberck0001089951:S000037566Member 2012-06-28 2012-06-28 0001089951 2012-06-28 2012-06-28 pure iso4217:USD "Other Expenses" have been adjusted as necessary from amounts incurred during the Predecessor Yacktman Focused Fund's (as defined below) most recent fiscal year to reflect current fees and expenses. "Other Expenses" have been adjusted as necessary from amounts incurred during the Predecessor Yacktman Fund's (as defined below) most recent fiscal year to reflect current fees and expenses.