Securities Act File No. 333-100654
Investment Company Act File No. 811-21237
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933 | x | |||
Pre-Effective Amendment No. | ¨ | |||
Post-Effective Amendment No. 285 | x |
and/or
REGISTRATION STATEMENT
UNDER
THE INVESTMENT COMPANY ACT OF 1940 | x |
Unified Series Trust
(Exact Name of Registrant as Specified In Charter)
2960 North Meridian Street, Suite 300
Indianapolis, Indiana 46208
(Address of Principal Executive Offices) (Zip Code)
Registrants Telephone Number, Including Area Code: (317) 917-7000
John C. Swhear
Interim President
2960 N. Meridian St., Suite 300
Indianapolis, Indiana 46208
(Name and Address of Agent for Service)
Copies to:
Dee Anne Sjögren, Esq.
Thompson Coburn LLP
One US Bank Plaza
St. Louis, MO 63101
(314) 552-6295
It is proposed that this filing will become effective:
x | immediately upon filing pursuant to paragraph (b) |
¨ | on (date) pursuant to paragraph (b) |
¨ | 60 days after filing pursuant to paragraph (a)(1) |
¨ | on (date) pursuant to paragraph (a)(1) |
¨ | 75 days after filing pursuant to paragraph (a)(2) |
¨ | on (date) pursuant to paragraph (a)(2) of rule 485 |
If appropriate check this box:
¨ | this post-effective amendment designates a new effective date for a previously filed post-effective amendment |
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and it has duly caused this Post-Effective Amendment No. 285 to its Registration Statement on Form N-1A to be signed on its behalf by the undersigned, thereto duly authorized, in the City of Indianapolis and the State of Indiana on September 16, 2013.
UNIFIED SERIES TRUST | ||
By: | /s/ John C. Swhear | |
John C. Swhear, President |
Attest:
By: | /s/ Robert W. Silva **** | |
Robert W. Silva, Treasurer and Chief Financial Officer |
Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below by the following persons in the capacities and on the date indicated by the consent of all of Registrants trustees.
Signature |
Title |
Date | ||
/s/ John C. Swhear |
President | September 16, 2013 | ||
John C. Swhear | ||||
/s/ Robert W. Silva **** |
Treasurer and CFO | September 16, 2013 | ||
Robert W. Silva | ||||
/s/ Daniel Condon * |
Trustee | September 16, 2013 | ||
Daniel Condon | ||||
/s/ Gary E. Hippenstiel * |
Trustee | September 16, 2013 | ||
Gary E. Hippenstiel | ||||
/s/ Stephen Little * |
Trustee | September 16, 2013 | ||
Stephen Little | ||||
/s/ Ronald Tritschler * |
Trustee | September 16, 2013 | ||
Ronald Tritschler | ||||
/s/ Nancy V. Kelly ** |
Trustee | September 16, 2013 | ||
Nancy V. Kelly | ||||
/s/ Kenneth Grant *** |
Trustee | September 16, 2013 | ||
Kenneth Grant |
* /**/***/**** | /s/ Carol J. Highsmith | |
Carol J. Highsmith, Attorney in Fact |
* | Signed pursuant to a Power of Attorney dated May 21, 2007 and filed with Registrants registration statement on Form N-1A on June 21, 2007 and incorporated herein by reference. |
** | Signed pursuant to a Power of Attorney dated December 12, 2007 and filed with Registrants registration statement on Form N-1A on December 17, 2007 and incorporated herein by reference. |
*** | Signed pursuant to a Power of Attorney dated June 19, 2008 and filed with Registrants registration statement on Form N-1A on July 3, 2008 and incorporated herein by reference. |
**** | Signed pursuant to a Power of Attorney dated June 24, 2011 and filed with Registrants registration statement on Form N-1A on June 24, 2011 and incorporated herein by reference. |
EXHIBIT INDEX
Exhibit |
Description | |
EX-101.ins | XBRL Instance Document | |
EX-101.sch | XBRL Taxonomy Extension Schema Document | |
EX-101.cal | XBRL Taxonomy Extension Calculation Linkbase Document | |
EX-101.lab | XBRL Taxonomy Extension Labels Linkbase | |
EX-101.pre | XBRL Taxonomy Extension Presentation Linkbase Document | |
EX-101.def | XBRL Taxonomy Extension Definition Linkbase |
Label | Element | Value | ||||
---|---|---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |||||
Registrant Name | dei_EntityRegistrantName | UNIFIED SERIES TRUST | ||||
Prospectus Date | rr_ProspectusDate | Aug. 29, 2013 | ||||
Toreador Core Fund
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Risk/Return: | rr_RiskReturnAbstract | |||||
Risk/Return [Heading] | rr_RiskReturnHeading | SUMMARY SECTION | ||||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective | ||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The investment objective of the Toreador Core Fund (the “Fund”) is long-term capital appreciation. | ||||
Expense [Heading] | rr_ExpenseHeading | Fees and Expenses of the Fund | ||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. | ||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment) | ||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | August 31, 2014 | ||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | 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 Expense Example above, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 76.94% of the average value of its portfolio. | ||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 76.94% | ||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Expense Example: | ||||
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. The Example reflects the adviser’s agreement to waive fees and/or reimburse expenses for one year only. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||
Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies | ||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund invests primarily in equity securities of U.S. and foreign large cap companies of a size similar to those in either the S&P 500© Index or the Russell 1000© Index. As of May 31, 2013, the Russell 1000 Index was composed of companies having market capitalizations of between $1.82 billion and $422 billion. As of March 28, 2013 the S&P 500 was composed of companies having market capitalizations of between $1.82 billion and $415.66 billion. In choosing investments, the Fund’s adviser, Toreador Research & Trading LLC (the “Adviser”), typically selects large cap equity securities that it believes offer superior return potential and may consider, among other factors, a company’s valuation, projected future earnings, growth potential, recent performance, and business strategy. The Fund seeks to diversify its investments across a broad spectrum of economic sectors in an attempt to reduce portfolio volatility and investment risk without sacrificing potential returns. In selecting securities within a particular economic sector, the Advisor’s goal is to identify companies that it believes have the potential for superior performance within each sector. The Fund may also invest in small- and mid-cap companies, convertible securities, preferred stocks, and other investment companies (including exchange-traded funds, (“ETFs”)). The Fund may use options in order to hedge its portfolio, to manage risk or to obtain market exposure. The Adviser will typically sell a company from the Fund’s portfolio when the trading price of the company’s stock exceeds the Adviser’s estimate of the company’s fundamental value and/or there are other companies that the Adviser believes offer greater investment potential. |
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Risk [Heading] | rr_RiskHeading | Principal Risks | ||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | All investments involve risk, and the Fund cannot guarantee that it will achieve its investment objective. 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.
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Risk Lose Money [Text] | rr_RiskLoseMoney | 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. | ||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance | ||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The bar chart below shows how the Fund’s investment returns have varied from year to year since the Fund’s inception as represented by the performance of Retail Class shares (the Class with the longest period of annual returns). The performance of Institutional Class shares will differ due to differences in expenses. The table shows how the Fund’s average annual total returns compare over time to those of a broad-based securities market index. This information provides some indication of the risks of investing in the Fund. Past performance of the Fund is not necessarily an indication of how it will perform in the future. | ||||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The bar chart below shows how the Fund’s investment returns have varied from year to year since the Fund’s inception as represented by the performance of Retail Class shares (the Class with the longest period of annual returns). The performance of Institutional Class shares will differ due to differences in expenses. The table shows how the Fund’s average annual total returns compare over time to those of a broad-based securities market index. | ||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | (800) 343-5902 | ||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | www.toreadorfunds.com | ||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | Past performance of the Fund is not necessarily an indication of how it will perform in the future. | ||||
Bar Chart [Heading] | rr_BarChartHeading | Retail Class Year-By-Year Annual Returns as of December 31st |
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Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | During the period shown in the bar chart, the highest return for a quarter was 17.41% during the quarter ended September 30, 2009 and the lowest return for a quarter was -24.47% during the quarter ended December 31, 2008. The Retail Class year to date return as of June 30, 2013 was 16.84%. | ||||
Performance Table Heading | rr_PerformanceTableHeading | AVERAGE ANNUAL TOTAL RETURNS (for the periods ended December 31, 2012) |
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Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using the historical highest individual federal income tax rates in effect as of December 31, 2012 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 12 months. | ||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | 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”). | ||||
Performance Table One Class of after Tax Shown [Text] | rr_PerformanceTableOneClassOfAfterTaxShown | After-tax returns are shown for the Retail Class only. After-tax returns for the Institutional Class will vary. | ||||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | After-tax returns are shown for the Retail Class only. After-tax returns for the Institutional Class will vary. After-tax returns are calculated using the historical highest individual federal income tax rates in effect as of December 31, 2012 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 12 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”). The index returns presented above assume reinvestment of all distributions and exclude the effect of taxes and fees (if expenses and taxes were deducted, the actual returns of the Index would be lower). | ||||
Performance Table Closing [Text Block] | rr_PerformanceTableClosingTextBlock | 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 (800) 343-5902 or accessed on the Fund’s website at www.toreadorfunds.com. | ||||
Toreador Core Fund | Retail Class
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Risk/Return: | rr_RiskReturnAbstract | |||||
Redemption Fee (as a percentage of the amount redeemed within 60 days of purchase) | rr_RedemptionFeeOverRedemption | 2.00% | ||||
Management Fee | rr_ManagementFeesOverAssets | 0.90% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.83% | ||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.74% | ||||
Fee Waiver/Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.53%) | [1] | |||
Total Annual Fund Operating Expenses (After Fee Waiver/Expense Reimbursement) | rr_NetExpensesOverAssets | 1.21% | ||||
1 year | rr_ExpenseExampleYear01 | $ 123 | ||||
3 years | rr_ExpenseExampleYear03 | 496 | ||||
5 years | rr_ExpenseExampleYear05 | 894 | ||||
10 years | rr_ExpenseExampleYear10 | 2,008 | ||||
2007 | rr_AnnualReturn2007 | 0.04% | ||||
2008 | rr_AnnualReturn2008 | (35.10%) | ||||
2009 | rr_AnnualReturn2009 | 29.49% | ||||
2010 | rr_AnnualReturn2010 | 13.69% | ||||
2011 | rr_AnnualReturn2011 | (4.87%) | ||||
2012 | rr_AnnualReturn2012 | 16.24% | ||||
Year to Date Return, Label | rr_YearToDateReturnLabel | year to date return | ||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Jun. 30, 2013 | ||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | 16.84% | ||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | highest return | ||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Sep. 30, 2009 | ||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 17.41% | ||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | lowest return | ||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2008 | ||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (24.47%) | ||||
One (1) Year | rr_AverageAnnualReturnYear01 | 16.24% | ||||
Five (5) Years | rr_AverageAnnualReturnYear05 | 1.10% | ||||
Since Inception | rr_AverageAnnualReturnSinceInception | 1.95% | [2] | |||
Inception Date | rr_AverageAnnualReturnInceptionDate | Jun. 02, 2006 | ||||
Toreador Core Fund | Institutional Class
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Risk/Return: | rr_RiskReturnAbstract | |||||
Redemption Fee (as a percentage of the amount redeemed within 60 days of purchase) | rr_RedemptionFeeOverRedemption | 2.00% | ||||
Management Fee | rr_ManagementFeesOverAssets | 0.90% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.58% | ||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.49% | ||||
Fee Waiver/Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.53%) | [1] | |||
Total Annual Fund Operating Expenses (After Fee Waiver/Expense Reimbursement) | rr_NetExpensesOverAssets | 0.96% | ||||
1 year | rr_ExpenseExampleYear01 | 98 | ||||
3 years | rr_ExpenseExampleYear03 | 421 | ||||
5 years | rr_ExpenseExampleYear05 | 767 | ||||
10 years | rr_ExpenseExampleYear10 | $ 1,744 | ||||
One (1) Year | rr_AverageAnnualReturnYear01 | 16.57% | ||||
Five (5) Years | rr_AverageAnnualReturnYear05 | |||||
Since Inception | rr_AverageAnnualReturnSinceInception | 10.52% | [2] | |||
Inception Date | rr_AverageAnnualReturnInceptionDate | Sep. 01, 2009 | ||||
Toreador Core Fund | Return After Taxes on Distributions | Retail Class
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Risk/Return: | rr_RiskReturnAbstract | |||||
One (1) Year | rr_AverageAnnualReturnYear01 | 15.39% | ||||
Five (5) Years | rr_AverageAnnualReturnYear05 | 0.93% | ||||
Since Inception | rr_AverageAnnualReturnSinceInception | 1.81% | [2] | |||
Inception Date | rr_AverageAnnualReturnInceptionDate | Jun. 02, 2006 | ||||
Toreador Core Fund | Return After Taxes on Distributions and Sale of Fund Shares | Retail Class
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Risk/Return: | rr_RiskReturnAbstract | |||||
One (1) Year | rr_AverageAnnualReturnYear01 | 11.29% | ||||
Five (5) Years | rr_AverageAnnualReturnYear05 | 0.91% | ||||
Since Inception | rr_AverageAnnualReturnSinceInception | 1.64% | [2] | |||
Inception Date | rr_AverageAnnualReturnInceptionDate | Jun. 02, 2006 | ||||
Toreador Core Fund | Russell 1000 Index (reflects no deduction for fees, expenses, or taxes) | Retail Class
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Risk/Return: | rr_RiskReturnAbstract | |||||
One (1) Year | rr_AverageAnnualReturnYear01 | 16.42% | ||||
Five (5) Years | rr_AverageAnnualReturnYear05 | 1.92% | ||||
Since Inception | rr_AverageAnnualReturnSinceInception | 3.97% | [2] | |||
Toreador Core Fund | Russell 1000 Index (reflects no deduction for fees, expenses, or taxes) | Institutional Class
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Risk/Return: | rr_RiskReturnAbstract | |||||
One (1) Year | rr_AverageAnnualReturnYear01 | 16.42% | ||||
Five (5) Years | rr_AverageAnnualReturnYear05 | |||||
Since Inception | rr_AverageAnnualReturnSinceInception | 13.25% | [2] | |||
Toreador Core Fund | S&P 500 Index (reflects no deduction for fees, expenses, or taxes) | Retail Class
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Risk/Return: | rr_RiskReturnAbstract | |||||
One (1) Year | rr_AverageAnnualReturnYear01 | 20.60% | ||||
Five (5) Years | rr_AverageAnnualReturnYear05 | 7.01% | ||||
Since Inception | rr_AverageAnnualReturnSinceInception | 5.43% | [2] | |||
Toreador Core Fund | S&P 500 Index (reflects no deduction for fees, expenses, or taxes) | Institutional Class
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Risk/Return: | rr_RiskReturnAbstract | |||||
One (1) Year | rr_AverageAnnualReturnYear01 | 20.60% | ||||
Five (5) Years | rr_AverageAnnualReturnYear05 | |||||
Since Inception | rr_AverageAnnualReturnSinceInception | 14.98% | [2] | |||
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Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Registrant Name | dei_EntityRegistrantName | UNIFIED SERIES TRUST |
Prospectus Date | rr_ProspectusDate | Aug. 29, 2013 |
Document Creation Date | dei_DocumentCreationDate | Aug. 28, 2013 |