0001199046 ust6:S000002749Member ust6:C000007545Member 2011-10-16 2012-10-15 0001199046 ust6:S000002749Member 2011-10-16 2012-10-15 0001199046 ust6:S000002749Member ust6:C000119465Member 2011-10-16 2012-10-15 0001199046 2011-10-16 2012-10-15 0001199046 ust6:S000002749Member rr:AfterTaxesOnDistributionsMember ust6:C000007545Member 2011-10-16 2012-10-15 0001199046 ust6:S000002749Member rr:AfterTaxesOnDistributionsAndSalesMember ust6:C000007545Member 2011-10-16 2012-10-15 0001199046 ust6:S000002749Member ust6:SAndPFiveHundredIndexMember 2011-10-16 2012-10-15 0001199046 ust6:S000002749Member ust6:RussellThreeHundredIndexMember 2011-10-16 2012-10-15 pure iso4217:USD 2012-09-30 <div style="display:none">~ http://www.rooseveltmcf.com/role/ScheduleShareholderFeesROOSEVELTMULTI-CAPFUND column period compact * ~</div> 601 Expense Example: www.rooseveltmcf.com 0.4127 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the Example, above, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 149.94% of the average value of its portfolio. <div style="display:none">~ http://www.rooseveltmcf.com/role/ScheduleAnnualFundOperatingExpensesROOSEVELTMULTI-CAPFUND column period compact * ~</div> <center>SUMMARY SECTION </center> Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) The bar chart below shows how the Fund’s investment results have varied from year to year as represented by the performance of Investor Class shares. The table below shows how the average annual total returns of the Investor Class shares of the Fund (including its predecessor) compare over time to those of two broad-based securities market indices. 0.0936                       Returns are shown for Investor Class shares of the Fund, without adjusting for the different expenses of the new Institutional Class shares. Investor Class shares commenced operations on December 21, 2001 and are not offered in this prospectus. Institutional Class shares would have had substantially similar annual returns during the periods presented because all shareholders are invested in the same portfolio of securities. Institutional Class returns will differ only to the extent that the classes have different expenses. 347 485BPOS UNIFIED SERIES TRUST 111 2012-10-15 This table describes the fees and expenses that you may pay if you buy and hold Institutional Class shares of the Fund. This Example is intended to help you compare the cost of investing in Institutional Class shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in Institutional Class shares of 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 Institutional Class operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: Principal Investment Strategies <div>Highest/Lowest quarterly results during this time period were: <table cellspacing="0" cellpadding="0" width="68%" border="0" align="center" style="background-color: rgb(255, 255, 255); border-collapse: collapse; "><tr><td width="69%"></td><td valign="bottom" width="6%"></td><td></td><td></td><td></td></tr><tr bgcolor="#cceeff"><td valign="top">Best Quarter:</td><td valign="bottom">  </td><td valign="bottom"> </td><td valign="bottom" align="right">2nd Quarter, 2003, 19.28</td><td nowrap="nowrap" valign="bottom">% </td></tr><tr><td valign="top">Worst Quarter:</td><td valign="bottom">  </td><td nowrap="nowrap" valign="bottom"> </td><td nowrap="nowrap" valign="bottom" align="right">4th Quarter, 2008, - 18.77</td><td nowrap="nowrap" valign="bottom">% </td></tr></table></div> The Fund’s year to date return as of September 30, 2012 was 9.36%. After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect and do not reflect the impact of state and local taxes or the lower rate on long-term capital gains when shares are held for more than twelve months. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Current performance of the Fund may be lower or higher than the performance quoted above. Performance data current to the most recent month end may be obtained by calling (877) 322-0576, a toll-free number, or data current to the most recent quarter end may be accessed on the Fund’s website at www.rooseveltmcf.com. <center>Average Annual Total Returns (for the periods ended December 31, 2011) </center> (877) 322-0576 Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). -0.05 -0.0575 <div style="display:none">~ http://www.rooseveltmcf.com/role/ScheduleAnnualTotalReturnsROOSEVELTMULTI-CAPFUNDBarChart column period compact * ~</div> 0 0.0754 0.0677 0.0638 0.0291 0.0351 0001199046 false 2011-11-30 0.0109 -0.0575 -0.0707 -0.0202 0.0209 0.0103 2012-10-15 <div style="display:none">~ http://www.rooseveltmcf.com/role/ScheduleAverageAnnualTotalReturnsTransposedROOSEVELTMULTI-CAPFUND column period compact * ~</div> Investment Objective Fees and Expenses of the Fund Portfolio Turnover The Fund invests primarily in common stocks (growth or value stocks or both) of U.S. companies of any size that the adviser believes have favorable investment potential. The Fund may also invest in common stock equivalents (such as warrants and rights), shares of open- and closed-end mutual funds and exchange-traded funds (“ETFs”) that invest primarily in equity securities, and equity real estate investment trusts (REITs). While the Fund primarily invests in U.S. securities, it may invest in foreign securities, some of which may be located in emerging market countries. In choosing investments for the Fund’s portfolio, the adviser utilizes both top-down and bottom-up research methods. The adviser may consider, among other things, a company’s valuation, growth potential, projected future earnings, competitive position in its industry, as well as general market conditions in deciding whether to buy or sell investments. The adviser also considers risk, and may at times attempt to hedge the Fund’s portfolio by, among other things, investing in securities it expects to exhibit low volatility, investing in securities it expects to perform inversely to the Fund’s portfolio, and investing in inverse ETFs, including leveraged ETFs. In an effort to achieve its goal, the Fund may engage in active and frequent trading. All investments involve risks, and the Fund cannot guarantee that it will achieve its investment objective. An investment in the Fund is not insured or guaranteed by any government agency. As with any mutual fund investment, the Fund’s returns and share price will fluctuate, and you may lose money by investing in the Fund. Below are some of the specific risks of investing in the Fund. <ul type="square"><li style="margin-left: 5px"> General. Investors should carefully consider their risk tolerance before investing. As with all mutual fund investments, loss of money is a risk of investing. Please read the other risks detailed below that apply to investing in our Fund. </li></ul><ul type="square"><li style="margin-left: 5px"> Market Risk. Market risk involves the possibility that the Fund’s investments in equity securities will decline because of falls in the stock market, reducing the value of individual company’s stocks regardless of the success or failure of an individual company’s operations. </li></ul><ul type="square"><li style="margin-left: 5px"> Management Risk. The adviser’s strategy and the strategies employed by the portfolio managers of the underlying funds in which the Fund invests may fail to produce the intended results. </li></ul><ul type="square"><li style="margin-left: 5px"> Style Risk. The Fund invests in both “value" stocks and “growth" stocks. With respect to value stocks, the market may not agree with the adviser’s determination that a stock is undervalued, and the stock’s price may not increase to what the adviser believes is its full value. It may even decrease in value. With respect to “growth stocks,” the company’s earnings growth rate may not meet the adviser’s expectations, and the stock price may not increase as the adviser anticipates. </li></ul><ul type="square"><li style="margin-left: 5px"> Defensive Risk. To the extent that the Fund attempts to hedge its portfolio stocks or takes defensive measures such as holding a significant portion of its assets in cash or cash equivalents, the Fund may not achieve its investment objective. </li></ul><ul type="square"><li style="margin-left: 5px"> Small- and Medium-Cap Company Risk. Securities of companies with small and medium market capitalizations are often more volatile and less liquid than investments in larger companies. Small and medium cap companies may face a greater risk of business failure, which could increase the volatility of the Fund’s portfolio. </li></ul><ul type="square"><li style="margin-left: 5px"> Risks of Other Investment Companies. When the Fund invests in an underlying mutual fund or ETF, the Fund indirectly will bear its proportionate share of any fees and expenses payable directly by the underlying fund. Therefore, the Fund will incur higher expenses, many of which may be duplicative. In addition, the Fund may be affected by losses of the underlying funds and the level of risk arising from the investment practices of the underlying funds (such as the use of leverage by the funds). ETFs are subject to additional risks such as the fact that its shares may trade at a market price that is above or below its net asset value or an active market may not develop. To the extent that the Fund invests in ETFs that invest in commodities, the demand and supply of these commodities may fluctuate widely. Commodity ETFs may use derivatives, which exposes them to further risks, including counterparty risk (i.e., the risk that the institution on the other side of their trade will default). The Fund may invest in closed-end funds, the market price of which may be affected by a variety of factors that may result in the market price of the shares of the closed-end fund being different from the closed-end fund’s net asset value. Closed-end funds are also subject to liquidity risk, leverage risk and volatility risk. </li></ul><ul type="square"><li style="margin-left: 5px"> Foreign Securities Risk. Foreign securities can be more volatile than domestic (U.S.) securities. Securities markets of other countries are generally smaller than U.S. securities markets. Many foreign securities may also be less liquid than U.S. securities, which could affect the Fund’s investments. </li></ul><ul type="square"><li style="margin-left: 5px"> Commodities Risk. To the extent that the Fund invests in ETFs that invest in commodities, it will be subject to additional risks. Commodities are real assets such as oil, agriculture, livestock, industrial metals, and precious metals such as gold or silver. The values of ETFs that invest in commodities are highly dependent on the prices of the related commodity. The demand and supply of these commodities may fluctuate widely based on such factors as interest rates, investors’ expectation with respect to the rate of inflation, currency exchange rates, the production and cost levels of the producing countries and/or forward selling by such producers, global or regional political, economic or financial events, purchases and sales by central banks, and trading activities by hedge funds and other commodity funds. Commodity ETFs may use derivatives, such as futures, options and swaps, which exposes them to further risks, including counterparty risk (i.e., the risk that the institution on the other side of their trade will default). </li></ul><ul type="square"><li style="margin-left: 5px"> Turnover Risk. At times, the Fund may have a portfolio turnover rate that is higher than other equity funds. A high portfolio turnover would result in correspondingly greater brokerage commission expenses and may result in the distribution to shareholders of additional capital gains for tax purposes. These factors may negatively affect the Fund’s performance. </li></ul><ul type="square"><li style="margin-left: 5px">REIT Risk. The value of REITs can be negatively impacted by declines in the value of real estate, adverse general and local economic conditions and environmental problems. REITs are also subject to certain other risks related specifically to their structure and focus, such as: (a) dependency upon management’s skills; (b) limited diversification; (c) heavy cash flow dependency; (d) possible default by borrowers; and (e) in many cases, less liquidity and greater price volatility. </li></ul><ul type="square"><li style="margin-left: 5px"> Fixed Income Risk. Fixed income securities are subject to credit risk, interest rate risk and liquidity risk. Credit risk is the risk the issuer or guarantor of a debt security will be unable or unwilling to make timely payments of interest or principal or to otherwise honor its obligations. Interest rate risk is the risk of losses due to changes in interest rates. In general, the prices of debt securities rise when interest rates fall, and the prices fall when interest rates rise. Liquidity risk is the risk a particular security may be difficult to purchase or sell and that the Fund may be unable to sell illiquid securities at an advantageous time or price. The Fund’s investments in government-sponsored entity securities also exhibit these risks, although the degree of such risks may vary significantly among the different government-sponsored entity securities. Some securities issued or guaranteed by U.S. government agencies or instrumentalities are not backed by the full faith and credit of the U.S. and may only be supported by the right of the agency or instrumentality to borrow from the U.S. Treasury. There can be no assurance that the U.S. government will always provide financial support to those agencies or instrumentalities. Zero coupon bonds do not pay current income, are sensitive to changes in interest rates and/or interest rate expectations, and exhibit greater price volatility than ordinary coupon-paying bonds. </li></ul><ul type="square"><li style="margin-left: 5px"> Inverse and Leveraged ETF Risk. To the extent that the Fund invests in inverse or leveraged ETFs, the value of the Fund’s investment will decrease when the index underlying the ETF’s benchmark rises, a result that is the opposite from traditional equity or bond funds. The net asset value and market price of leveraged or inverse ETFs is usually more volatile than the value of the tracked index or of other ETFs that do not use leverage. Inverse and leveraged ETFs use investment techniques and financial instruments that may be considered aggressive, including the use of derivative transactions and short selling techniques. </li></ul><ul type="square"><li style="margin-left: 5px"> Derivatives Risk. The Fund may invest in another investment company that may buy or sell a variety of “derivative” instruments (for example, options, futures or index-based instruments) in order to gain exposure to particular securities or markets, in connection with hedging transactions and to increase total return. An underlying fund’s use of derivative instruments involves the risk that such instruments may not work as intended due to unanticipated developments in market conditions or other causes. </li></ul> <center>Annual Total Returns for Investor Class Shares (years ended December 31st)</center> As with any mutual fund investment, the Fund’s returns and share price will fluctuate, and you may lose money by investing in the Fund. After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect and do not reflect the impact of state and local taxes 0.1283 -0.2786 0.1644 2003-06-30 0.1928 Worst Quarter: 2008-12-31 0 0.009 0.0018 1329 0.0001 0.0175 0.0108 0.0134 -0.0025 -0.0001 2012-10-15 <div style="display:none">~ http://www.rooseveltmcf.com/role/ScheduleExpenseExampleTransposedROOSEVELTMULTI-CAPFUND column period compact * ~</div> The investment objective of the Roosevelt Multi-Cap Fund (the “Fund”) is long-term capital appreciation. Principal Risks Performance1 The bar chart below shows how the Fund’s investment results have varied from year to year as represented by the performance of Investor Class shares. The table below shows how the average annual total returns of the Investor Class shares of the Fund (including its predecessor) compare over time to those of two broad-based securities market indices. This information provides some indication of the risks of investing in the Fund. As of December 31, 2011, Institutional Class shares had not yet been issued. Past performance of the Fund is not necessarily an indication of how it will perform in the future. 1Returns are shown for Investor Class shares of the Fund, without adjusting for the different expenses of the new Institutional Class shares. Investor Class shares commenced operations on December 21, 2001 and are not offered in this prospectus. Institutional Class shares would have had substantially similar annual returns during the periods presented because all shareholders are invested in the same portfolio of securities. Institutional Class returns will differ only to the extent that the classes have different expenses. 1.4994 An investment in the Fund is not insured or guaranteed by any government agency. Past performance of the Fund is not necessarily an indication of how it will perform in the future. 0.1232 0.1151 0.2088 0.1395 year to date return Best Quarter: -0.1877 Other Expenses are based on expenses of Investor Class shares for the Fund's last fiscal year. 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%.