0001199046
2011-04-13
2012-04-12
0001199046
ust13:S000036872Member
ust13:C000112798Member
2011-04-13
2012-04-12
0001199046
ust13:S000036872Member
ust13:C000112799Member
2011-04-13
2012-04-12
0001199046
ust13:S000036872Member
2011-04-13
2012-04-12
pure
iso4217:USD
2012-04-12
UNIFIED SERIES TRUST
0001199046
2012-12-04
2012-12-04
false
2012-12-04
0.009
0.009
0
0.0025
0.0123
0.0138
0.0213
0.0253
-0.0114
-0.0114
0.0099
0.0139
101
142
315
440
<strong>Annual Fund Operating Expenses</strong><br/>(expenses that you pay each year as a percentage of the value <br/>of your investment)
Because the Fund is new, these expenses are based on estimated amounts for the current fiscal year.
June 30, 2015
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center"><b>Martin Focused Value Fund </b></p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px" align="center">Supplement to the Prospectus and </p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">Statement of Additional Information dated April 12, 2012 </p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px" align="center">Supplement dated December 4, 2012 </p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px"><b><u>LOWER EXPENSE LIMITATION </u></b></p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px">Effective November 30, 2012, Martin Capital Management, LLC, the Fund's adviser, has contractually agreed to lower the Fund's expense cap, decreasing the amount of total annual fund operating expenses paid by Fund shareholders. </p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px">To reflect this new lower expense cap, the "Annual Fund Operating Expenses" table found in the "Summary Section" of the Fund's Prospectus is restated as follows: </p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="73%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr> <td valign="top"> <p style="MARGIN-TOP: 0px; TEXT-INDENT: -1em; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 1em"><b>Annual Fund Operating Expenses</b></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px"><b></b>(expenses that you pay each year as a percentage of the value<br/>of your investment)<b></b></p></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Management Fees</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.90</td> <td valign="bottom" nowrap="nowrap">% </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.90</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr> <td valign="top"> Distribution and Service (12b-1) Fees</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">NONE</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Other Expenses<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1) </sup></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.23</td> <td valign="bottom" nowrap="nowrap">% </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.38</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td> </td></tr> <tr> <td valign="top"> Total Annual Fund Operating Expenses</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.13</td> <td valign="bottom" nowrap="nowrap">% </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.53</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Fee Waiver/Expense Reimbursement<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(2)</sup></td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-1.14</td> <td valign="bottom" nowrap="nowrap">% </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-1.14</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td> </td></tr> <tr> <td valign="top">Total Annual Fund Operating Expenses After Fee Waiver<br/>and/or Expense Reimbursement<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(2)</sup></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.99</td> <td valign="bottom" nowrap="nowrap">% </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.39</td> <td valign="bottom" nowrap="nowrap">% </td></tr></table> <p style="BORDER-BOTTOM: #000000 0.5pt solid; LINE-HEIGHT: 8px; MARGIN-TOP: 0px; WIDTH: 10%; MARGIN-BOTTOM: 2px"> </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="1%" align="left">(1) </td> <td valign="top" align="left"> Because the Fund is new, these expenses are based on estimated amounts for the current fiscal year. </td></tr></table> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="1%" align="left">(2) </td> <td valign="top" align="left"> Restated to reflect the new, lower expense cap effective November 30, 2012. The Fund's adviser contractually has agreed to waive its management fee and/or reimburse expenses through June 30, 2015 so that total annual fund operating expenses (excluding brokerage fees and commissions; borrowing costs; taxes; acquired fund fees and expenses; Retail Class 12b-1 and administrative services fees and extraordinary litigation expenses) do not exceed 0.99% of the Fund's average daily net assets, subject to repayment within three fiscal years if the Fund is able to make the repayment without exceeding the expense limitation. This expense cap may not be terminated except by the Board of Trustees. </td></tr></table> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px">The following table replaces the "Expense Example" table found in the "Summary Section" of the Fund's Prospectus: </p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="42%" align="center"> <tr> <td width="54%"></td> <td valign="bottom" width="17%"></td> <td></td> <td valign="bottom" width="21%"></td> <td></td></tr> <tr> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center"><b>One Year</b></td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center"><b>Three Years</b></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Institutional Class</td> <td valign="bottom"> </td> <td valign="bottom">$101</td> <td valign="bottom"> </td> <td valign="bottom">$315</td></tr> <tr> <td height="8"></td> <td height="8" colspan="2"></td> <td height="8" colspan="2"></td></tr> <tr> <td valign="top"> Retail Class</td> <td valign="bottom"> </td> <td valign="bottom">$142</td> <td valign="bottom"> </td> <td valign="bottom">$440</td></tr></table>
Other
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center"><b>Martin Focused Value Fund </b></p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px" align="center">Supplement to the Prospectus and </p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">Statement of Additional Information dated April 12, 2012 </p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px" align="center">Supplement dated December 4, 2012 </p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px"><b><u>LOWER EXPENSE LIMITATION </u></b></p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px">Effective November 30, 2012, Martin Capital Management, LLC, the Fund's adviser, has contractually agreed to lower the Fund's expense cap, decreasing the amount of total annual fund operating expenses paid by Fund shareholders. </p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px">To reflect this new lower expense cap, the "Annual Fund Operating Expenses" table found in the "Summary Section" of the Fund's Prospectus is restated as follows: </p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="73%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr> <td valign="top"> <p style="MARGIN-TOP: 0px; TEXT-INDENT: -1em; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 1em"><b>Annual Fund Operating Expenses</b></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px"><b></b>(expenses that you pay each year as a percentage of the value<br/>of your investment)<b></b></p></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Management Fees</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.90</td> <td valign="bottom" nowrap="nowrap">% </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.90</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr> <td valign="top"> Distribution and Service (12b-1) Fees</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">NONE</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Other Expenses<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1) </sup></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.23</td> <td valign="bottom" nowrap="nowrap">% </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.38</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td> </td></tr> <tr> <td valign="top"> Total Annual Fund Operating Expenses</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.13</td> <td valign="bottom" nowrap="nowrap">% </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.53</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Fee Waiver/Expense Reimbursement<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(2)</sup></td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-1.14</td> <td valign="bottom" nowrap="nowrap">% </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-1.14</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p></td> <td> </td></tr> <tr> <td valign="top">Total Annual Fund Operating Expenses After Fee Waiver<br/>and/or Expense Reimbursement<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(2)</sup></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.99</td> <td valign="bottom" nowrap="nowrap">% </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.39</td> <td valign="bottom" nowrap="nowrap">% </td></tr></table> <p style="BORDER-BOTTOM: #000000 0.5pt solid; LINE-HEIGHT: 8px; MARGIN-TOP: 0px; WIDTH: 10%; MARGIN-BOTTOM: 2px"> </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="1%" align="left">(1) </td> <td valign="top" align="left"> Because the Fund is new, these expenses are based on estimated amounts for the current fiscal year. </td></tr></table> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="1%" align="left">(2) </td> <td valign="top" align="left"> Restated to reflect the new, lower expense cap effective November 30, 2012. The Fund's adviser contractually has agreed to waive its management fee and/or reimburse expenses through June 30, 2015 so that total annual fund operating expenses (excluding brokerage fees and commissions; borrowing costs; taxes; acquired fund fees and expenses; Retail Class 12b-1 and administrative services fees and extraordinary litigation expenses) do not exceed 0.99% of the Fund's average daily net assets, subject to repayment within three fiscal years if the Fund is able to make the repayment without exceeding the expense limitation. This expense cap may not be terminated except by the Board of Trustees. </td></tr></table> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px">The following table replaces the "Expense Example" table found in the "Summary Section" of the Fund's Prospectus: </p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="42%" align="center"> <tr> <td width="54%"></td> <td valign="bottom" width="17%"></td> <td></td> <td valign="bottom" width="21%"></td> <td></td></tr> <tr> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center"><b>One Year</b></td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center"><b>Three Years</b></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Institutional Class</td> <td valign="bottom"> </td> <td valign="bottom">$101</td> <td valign="bottom"> </td> <td valign="bottom">$315</td></tr> <tr> <td height="8"></td> <td height="8" colspan="2"></td> <td height="8" colspan="2"></td></tr> <tr> <td valign="top"> Retail Class</td> <td valign="bottom"> </td> <td valign="bottom">$142</td> <td valign="bottom"> </td> <td valign="bottom">$440</td></tr></table>