0001193125-12-448829.txt : 20121102 0001193125-12-448829.hdr.sgml : 20121102 20121102144706 ACCESSION NUMBER: 0001193125-12-448829 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121102 DATE AS OF CHANGE: 20121102 EFFECTIVENESS DATE: 20121102 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNIFIED SERIES TRUST CENTRAL INDEX KEY: 0001199046 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-100654 FILM NUMBER: 121176431 BUSINESS ADDRESS: STREET 1: 2960 NORTH MERIDIAN STREET, STE. 300 CITY: INDIANAPOLIS STATE: IN ZIP: 46208 BUSINESS PHONE: 317-917-7000 MAIL ADDRESS: STREET 1: 2960 NORTH MERIDIAN STREET, STE. 300 CITY: INDIANAPOLIS STATE: IN ZIP: 46208 0001199046 S000002749 ROOSEVELT MULTI-CAP FUND C000007545 ROOSEVELT MULTI-CAP FUND Investor Class BULLX 497 1 d423892d497.htm FORM 497 Form 497

ROOSEVELT MULTI-CAP FUND

 

Supplement to the Prospectus dated March 29, 2012

 

Supplement dated October 15, 2012

 

New Investor Class Designation

 

Effective October 15, 2012, existing shares of the Roosevelt Multi-Cap Fund (the “Fund”) have been designated “Investor Class” shares, and a new class of shares, the “Institutional Class,” is being offered through a separate prospectus.

 

Reduction in Fees

 

Effective October 15, 2012, the Fund’s adviser, The Roosevelt Investment Group, Inc., has contractually agreed to lower its fee from 1.00% to 0.90%. The adviser receives a universal fee for providing investment advice and paying operating expenses of the Fund. The “Summary Section — Fees and Expenses of the Fund” subsection of the Fund’s prospectus is replaced with the following:

 

Fees and Expenses of the Fund

 

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

 

Shareholder Fees (fees paid directly from your investment)

 

Redemption Fee

     NONE   

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

  

Management Fees1

     0.90

Distribution (12b-1) Fees

     0.25

Other Expenses

     0.01

Acquired Fund Fees and Expenses

     0.18
    


Total Annual Fund Operating Expenses

     1.34

 

1 

Restated to reflect the new, lower fee. Effective October 15, 2012, the Fund’s adviser has contractually agreed to reduce its fee from 1.00% to 0.90%.

 

Expense Example:

 

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

 

1 year


   3 years

   5 years

   10 years

$136

   $425    $734    $1,613

 

This supplement and the Prospectus provide the information a prospective investor should know about the Fund and should be retained for future reference. A Statement of Additional Information, dated March 29, 2012 has been filed with the Securities and Exchange Commission and is incorporated herein by reference. You may obtain the Prospectus or Statement of Additional Information without charge by calling Shareholder Services at (877) 322-0576.

EX-101.INS 2 ust11-20121015.xml XBRL INSTANCE DOCUMENT 0001199046 2011-03-30 2012-03-29 0001199046 ust11:S000002749Member 2011-03-30 2012-03-29 0001199046 ust11:S000002749Member ust11:C000007545Member 2011-03-30 2012-03-29 pure iso4217:USD UNIFIED SERIES TRUST 0001199046 2011-11-30 Other false 2012-10-15 2012-10-15 2012-03-29 <font style="font-family:Times New Roman" size="2"><u>Expense Example: </u></font> 136 425 734 1613 <font style="font-family:Times New Roman" size="2"><b>Fees and Expenses of the Fund</b></font> <font style="font-family:Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</font> <font style="font-family:Times New Roman" size="2"><u>Shareholder Fees (fees paid directly from your investment)</u></font> <font style="font-family:Times New Roman" size="2"><u>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</u></font> <font style="font-family:Times New Roman" size="2">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <p style="margin-top:0px;margin-bottom:0px" align="center"><font style="font-family:Times New Roman" size="2"><b>ROOSEVELT MULTI-CAP FUND </b></font></p> <p style="margin-top:12px;margin-bottom:0px" align="center"><font style="font-family:Times New Roman" size="2"><i>Supplement to the Prospectus dated March&nbsp;29, 2012 </i></font></p> <p style="margin-top:12px;margin-bottom:0px" align="center"><font style="font-family:Times New Roman" size="2">Supplement dated October&nbsp;15, 2012 </font></p> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b><u>New Investor Class Designation </u></b></font></p> <p style="margin-top:6px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">Effective October 15, 2012, existing shares of the Roosevelt Multi-Cap Fund (the &#147;Fund&#148;) have been designated &#147;Investor Class&#148; shares, and a new class of shares, the &#147;Institutional Class,&#148; is being offered through a separate prospectus. </font></p> <p style="margin-top:18px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b><u>Reduction in Fees </u></b></font></p> <p style="margin-top:6px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">Effective October 15, 2012, the Fund&#146;s adviser, The Roosevelt Investment Group, Inc., has contractually agreed to lower its fee from 1.00% to 0.90%. The adviser receives a universal fee for providing investment advice and paying operating expenses of the Fund. The &#147;Summary Section &#151; Fees and Expenses of the Fund&#148; subsection of the Fund&#146;s prospectus is replaced with the following: </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:Times New Roman" size="2"><b>Fees and Expenses of the Fund </b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="93%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td></tr> <tr> <td valign="top" colspan="4"><font style="font-family:Times New Roman" size="2"><u>Shareholder Fees (fees paid directly from your investment)</u></font></td> <td valign="top"><font style="font-family:Times New Roman" size="2"><u></u>&nbsp;&nbsp;</font></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"><font style="font-family:Times New Roman" size="2">Redemption Fee</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">NON</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">E&nbsp;</font></td></tr> <tr> <td height="8" colspan="5"></td></tr> <tr> <td valign="top" colspan="4"><font style="font-family:Times New Roman" size="2"><u>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</u></font></td> <td valign="top"><font style="font-family:Times New Roman" size="2"><u></u>&nbsp;&nbsp;</font></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"><font style="font-family:Times New Roman" size="2">Management Fees</font><font style="font-family:Times New Roman" size="1"><sup>1</sup></font><font style="font-family:Times New Roman" size="2"></font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">0.90</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">%&nbsp;</font></td></tr> <tr> <td valign="top"><font style="font-family:Times New Roman" size="2">Distribution (12b-1) Fees</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">0.25</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">%&nbsp;</font></td></tr> <tr bgcolor="#cceeff"> <td valign="top"><font style="font-family:Times New Roman" size="2">Other Expenses</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">0.01</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">%&nbsp;</font></td></tr> <tr> <td valign="top"> <font style="font-family:Times New Roman" size="2">Acquired Fund Fees and Expenses</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">0.18</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">%&nbsp;</font></td></tr> <tr style="font-size:1px"> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style="border-top:1px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff"> <td valign="top"><font style="font-family:Times New Roman" size="2">Total Annual Fund Operating Expenses</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">1.34</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">%&nbsp;</font></td></tr> </table> <p style="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:Times New Roman" size="2"></font><font style="font-family:Times New Roman" size="1"><sup style="vertical-align:baseline; position:relative; bottom:.8ex">1</sup>&nbsp;</font><font style="font-family:Times New Roman" size="2"></font></td> <td align="left" valign="top"> <p align="left"><font style="font-family:Times New Roman" size="2">Restated to reflect the new, lower fee. Effective October&nbsp;15, 2012, the Fund&#146;s adviser has contractually agreed to reduce its fee from 1.00% to 0.90%. </font></p></td></tr></table> <p style="margin-top:18px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><u>Expense Example: </u></font></p> <p style="margin-top:6px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#146;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="78%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="24%"></td> <td valign="bottom"></td> <td width="24%"></td> <td valign="bottom" width="1%"></td> <td width="25%"></td> <td valign="bottom" width="1%"></td> <td width="24%"></td></tr> <tr> <td valign="bottom" nowrap="nowrap" align="center"> <p style="border-bottom:1px solid #000000;width:19pt" align="center"><font style="font-family:Times New Roman" size="1">1 year</font></p></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom" align="center"> <p style="border-bottom:1px solid #000000;width:22pt" align="center"><font style="font-family:Times New Roman" size="1">3&nbsp;years</font></p></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom" align="center"> <p style="border-bottom:1px solid #000000;width:22pt" align="center"><font style="font-family:Times New Roman" size="1">5&nbsp;years</font></p></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom" align="center"> <p style="border-bottom:1px solid #000000;width:26pt" align="center"><font style="font-family:Times New Roman" size="1">10&nbsp;years</font></p></td></tr> <tr bgcolor="#cceeff"> <td valign="top" align="center"><font style="font-family:Times New Roman" size="2">$136</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom" align="center"><font style="font-family:Times New Roman" size="2">$425</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom" align="center"><font style="font-family:Times New Roman" size="2">$734</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom" align="center"><font style="font-family:Times New Roman" size="2">$1,613</font></td></tr> </table> <p style="margin-top:0px;margin-bottom:0px" align="center"><font style="font-family:Times New Roman" size="2"><b>ROOSEVELT MULTI-CAP FUND </b></font></p> <p style="margin-top:12px;margin-bottom:0px" align="center"><font style="font-family:Times New Roman" size="2"><i>Supplement to the Prospectus dated March&nbsp;29, 2012 </i></font></p> <p style="margin-top:12px;margin-bottom:0px" align="center"><font style="font-family:Times New Roman" size="2">Supplement dated October&nbsp;15, 2012 </font></p> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b><u>New Investor Class Designation </u></b></font></p> <p style="margin-top:6px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">Effective October 15, 2012, existing shares of the Roosevelt Multi-Cap Fund (the &#147;Fund&#148;) have been designated &#147;Investor Class&#148; shares, and a new class of shares, the &#147;Institutional Class,&#148; is being offered through a separate prospectus. </font></p> <p style="margin-top:18px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b><u>Reduction in Fees </u></b></font></p> <p style="margin-top:6px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">Effective October 15, 2012, the Fund&#146;s adviser, The Roosevelt Investment Group, Inc., has contractually agreed to lower its fee from 1.00% to 0.90%. The adviser receives a universal fee for providing investment advice and paying operating expenses of the Fund. The &#147;Summary Section &#151; Fees and Expenses of the Fund&#148; subsection of the Fund&#146;s prospectus is replaced with the following: </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:Times New Roman" size="2"><b>Fees and Expenses of the Fund </b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="93%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td></tr> <tr> <td valign="top" colspan="4"><font style="font-family:Times New Roman" size="2"><u>Shareholder Fees (fees paid directly from your investment)</u></font></td> <td valign="top"><font style="font-family:Times New Roman" size="2"><u></u>&nbsp;&nbsp;</font></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"><font style="font-family:Times New Roman" size="2">Redemption Fee</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">NON</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">E&nbsp;</font></td></tr> <tr> <td height="8" colspan="5"></td></tr> <tr> <td valign="top" colspan="4"><font style="font-family:Times New Roman" size="2"><u>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</u></font></td> <td valign="top"><font style="font-family:Times New Roman" size="2"><u></u>&nbsp;&nbsp;</font></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"><font style="font-family:Times New Roman" size="2">Management Fees</font><font style="font-family:Times New Roman" size="1"><sup>1</sup></font><font style="font-family:Times New Roman" size="2"></font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">0.90</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">%&nbsp;</font></td></tr> <tr> <td valign="top"><font style="font-family:Times New Roman" size="2">Distribution (12b-1) Fees</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">0.25</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">%&nbsp;</font></td></tr> <tr bgcolor="#cceeff"> <td valign="top"><font style="font-family:Times New Roman" size="2">Other Expenses</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">0.01</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">%&nbsp;</font></td></tr> <tr> <td valign="top"> <font style="font-family:Times New Roman" size="2">Acquired Fund Fees and Expenses</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">0.18</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">%&nbsp;</font></td></tr> <tr style="font-size:1px"> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style="border-top:1px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff"> <td valign="top"><font style="font-family:Times New Roman" size="2">Total Annual Fund Operating Expenses</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">1.34</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">%&nbsp;</font></td></tr> </table> <p style="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:Times New Roman" size="2"></font><font style="font-family:Times New Roman" size="1"><sup style="vertical-align:baseline; position:relative; bottom:.8ex">1</sup>&nbsp;</font><font style="font-family:Times New Roman" size="2"></font></td> <td align="left" valign="top"> <p align="left"><font style="font-family:Times New Roman" size="2">Restated to reflect the new, lower fee. Effective October&nbsp;15, 2012, the Fund&#146;s adviser has contractually agreed to reduce its fee from 1.00% to 0.90%. </font></p></td></tr></table> <p style="margin-top:18px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><u>Expense Example: </u></font></p> <p style="margin-top:6px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#146;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="78%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="24%"></td> <td valign="bottom"></td> <td width="24%"></td> <td valign="bottom" width="1%"></td> <td width="25%"></td> <td valign="bottom" width="1%"></td> <td width="24%"></td></tr> <tr> <td valign="bottom" nowrap="nowrap" align="center"> <p style="border-bottom:1px solid #000000;width:19pt" align="center"><font style="font-family:Times New Roman" size="1">1 year</font></p></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom" align="center"> <p style="border-bottom:1px solid #000000;width:22pt" align="center"><font style="font-family:Times New Roman" size="1">3&nbsp;years</font></p></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom" align="center"> <p style="border-bottom:1px solid #000000;width:22pt" align="center"><font style="font-family:Times New Roman" size="1">5&nbsp;years</font></p></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom" align="center"> <p style="border-bottom:1px solid #000000;width:26pt" align="center"><font style="font-family:Times New Roman" size="1">10&nbsp;years</font></p></td></tr> <tr bgcolor="#cceeff"> <td valign="top" align="center"><font style="font-family:Times New Roman" size="2">$136</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom" align="center"><font style="font-family:Times New Roman" size="2">$425</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom" align="center"><font style="font-family:Times New Roman" size="2">$734</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom" align="center"><font style="font-family:Times New Roman" size="2">$1,613</font></td></tr> </table> 0.00 <font style="font-family:Times New Roman" size="2">Restated to reflect the new, lower fee. Effective October 15, 2012, the Fund's adviser has contractually agreed to reduce its fee from 1.00% to 0.90%.</font> 0.009 0.0025 0.0001 0.0018 0.0134 Restated to reflect the new, lower fee. Effective October 15, 2012, the Fund's adviser has contractually agreed to reduce its fee from 1.00% to 0.90%. 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ROOSEVELT MULTI-CAP FUND

Supplement to the Prospectus dated March 29, 2012

Supplement dated October 15, 2012

New Investor Class Designation

Effective October 15, 2012, existing shares of the Roosevelt Multi-Cap Fund (the “Fund”) have been designated “Investor Class” shares, and a new class of shares, the “Institutional Class,” is being offered through a separate prospectus.

Reduction in Fees

Effective October 15, 2012, the Fund’s adviser, The Roosevelt Investment Group, Inc., has contractually agreed to lower its fee from 1.00% to 0.90%. The adviser receives a universal fee for providing investment advice and paying operating expenses of the Fund. The “Summary Section — Fees and Expenses of the Fund” subsection of the Fund’s prospectus is replaced with the following:

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

 

Shareholder Fees (fees paid directly from your investment)   
Redemption Fee      NON
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)   
Management Fees1      0.90
Distribution (12b-1) Fees      0.25
Other Expenses      0.01
Acquired Fund Fees and Expenses      0.18
  

 

 

 
Total Annual Fund Operating Expenses      1.34

 

1 

Restated to reflect the new, lower fee. Effective October 15, 2012, the Fund’s adviser has contractually agreed to reduce its fee from 1.00% to 0.90%.

Expense Example:

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

 

1 year

 

3 years

 

5 years

 

10 years

$136   $425   $734   $1,613
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Supplement [Text Block] ust11_SupplementTextBlock

ROOSEVELT MULTI-CAP FUND

Supplement to the Prospectus dated March 29, 2012

Supplement dated October 15, 2012

New Investor Class Designation

Effective October 15, 2012, existing shares of the Roosevelt Multi-Cap Fund (the “Fund”) have been designated “Investor Class” shares, and a new class of shares, the “Institutional Class,” is being offered through a separate prospectus.

Reduction in Fees

Effective October 15, 2012, the Fund’s adviser, The Roosevelt Investment Group, Inc., has contractually agreed to lower its fee from 1.00% to 0.90%. The adviser receives a universal fee for providing investment advice and paying operating expenses of the Fund. The “Summary Section — Fees and Expenses of the Fund” subsection of the Fund’s prospectus is replaced with the following:

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

 

Shareholder Fees (fees paid directly from your investment)   
Redemption Fee      NON
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)   
Management Fees1      0.90
Distribution (12b-1) Fees      0.25
Other Expenses      0.01
Acquired Fund Fees and Expenses      0.18
  

 

 

 
Total Annual Fund Operating Expenses      1.34

 

1 

Restated to reflect the new, lower fee. Effective October 15, 2012, the Fund’s adviser has contractually agreed to reduce its fee from 1.00% to 0.90%.

Expense Example:

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

 

1 year

 

3 years

 

5 years

 

10 years

$136   $425   $734   $1,613
ROOSEVELT MULTI-CAP FUND
 
Risk/Return: rr_RiskReturnAbstract  
Supplement [Text Block] ust11_SupplementTextBlock

ROOSEVELT MULTI-CAP FUND

Supplement to the Prospectus dated March 29, 2012

Supplement dated October 15, 2012

New Investor Class Designation

Effective October 15, 2012, existing shares of the Roosevelt Multi-Cap Fund (the “Fund”) have been designated “Investor Class” shares, and a new class of shares, the “Institutional Class,” is being offered through a separate prospectus.

Reduction in Fees

Effective October 15, 2012, the Fund’s adviser, The Roosevelt Investment Group, Inc., has contractually agreed to lower its fee from 1.00% to 0.90%. The adviser receives a universal fee for providing investment advice and paying operating expenses of the Fund. The “Summary Section — Fees and Expenses of the Fund” subsection of the Fund’s prospectus is replaced with the following:

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

 

Shareholder Fees (fees paid directly from your investment)   
Redemption Fee      NON
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)   
Management Fees1      0.90
Distribution (12b-1) Fees      0.25
Other Expenses      0.01
Acquired Fund Fees and Expenses      0.18
  

 

 

 
Total Annual Fund Operating Expenses      1.34

 

1 

Restated to reflect the new, lower fee. Effective October 15, 2012, the Fund’s adviser has contractually agreed to reduce its fee from 1.00% to 0.90%.

Expense Example:

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

 

1 year

 

3 years

 

5 years

 

10 years

$136   $425   $734   $1,613
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Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
ROOSEVELT MULTI-CAP FUND | Investor Class
 
Risk/Return: rr_RiskReturnAbstract  
Redemption Fee rr_RedemptionFee none
Management Fees rr_ManagementFeesOverAssets 0.90% [1]
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.01%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.18%
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3 years rr_ExpenseExampleYear03 425
5 years rr_ExpenseExampleYear05 734
10 years rr_ExpenseExampleYear10 1,613
[1] Restated to reflect the new, lower fee. Effective October 15, 2012, the Fund's adviser has contractually agreed to reduce its fee from 1.00% to 0.90%.
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Risk/Return:  
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