0001104659-12-076709.txt : 20121109 0001104659-12-076709.hdr.sgml : 20121109 20121109170400 ACCESSION NUMBER: 0001104659-12-076709 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121109 DATE AS OF CHANGE: 20121109 EFFECTIVENESS DATE: 20121109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CRM Mutual Fund Trust CENTRAL INDEX KEY: 0001322252 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-123998 FILM NUMBER: 121194473 BUSINESS ADDRESS: STREET 1: C/O CRAMER ROSENTHAL MCGLYNN, LLC STREET 2: 520 MADISON AVENUE, 20TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212.326.5334 MAIL ADDRESS: STREET 1: C/O CRAMER ROSENTHAL MCGLYNN, LLC STREET 2: 520 MADISON AVENUE, 20TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CRM Mutual Fund Trust CENTRAL INDEX KEY: 0001322252 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-21749 FILM NUMBER: 121194474 BUSINESS ADDRESS: STREET 1: C/O CRAMER ROSENTHAL MCGLYNN, LLC STREET 2: 520 MADISON AVENUE, 20TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212.326.5334 MAIL ADDRESS: STREET 1: C/O CRAMER ROSENTHAL MCGLYNN, LLC STREET 2: 520 MADISON AVENUE, 20TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 0001322252 S000001322 CRM MID CAP VALUE FUND C000003538 INSTITUTIONAL CRIMX C000003539 INVESTOR CRMMX 0001322252 S000001323 CRM SMALL CAP VALUE FUND C000003540 INSTITUTIONAL CRISX C000003541 INVESTOR CRMSX 0001322252 S000001325 CRM SMALL/MID CAP VALUE FUND C000003543 INSTITUTIONAL CRIAX C000003544 INVESTOR CRMAX 0001322252 S000002555 CRM LARGE CAP OPPORTUNITY FUND C000007040 INSTITUTIONAL CRIGX C000033263 INVESTOR CRMGX 0001322252 S000013816 CRM All Cap Value Fund C000037908 Investor Shares CRMEX C000037909 Institutional Shares CRIEX 0001322252 S000024465 CRM Global Opportunity Fund C000072581 Investor Shares CRMWX C000072582 Institutional Shares CRIWX 0001322252 S000024466 CRM International Opportunity Fund C000072583 Investor Shares CRMIX C000072584 Institutional Shares CRIIX 485BPOS 1 a12-25353_1485bpos.htm POST-EFFECTIVE AMENDMENT FILED PURSUANT TO SECURITIES ACT RULE 485(B)

 

As filed with the Securities and Exchange Commission on November 9, 2012

 

File Nos. 333-123998

811-21749

 

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON D.C. 20549

 

FORM N-1A

 

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

 

Post-Effective Amendment No. 18

 

AND

 

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

 

Amendment No. 20

 

CRM Mutual Fund Trust

(Exact Name of Registrant as Specified in Charter)

 

c/o BNY Mellon Investment Servicing (US) Inc.

301 Bellevue Parkway

Wilmington, DE 19809

(Address of Principal Executive Offices)

 

Registrant’s Telephone Number, including Area Code: 212-326-5334

 

Corporation Service Company

2711 Centerville Road Suite 400

Wilmington, DE 19808

(Name and Address of Agent for Service)

 

Copy to:

 

Lea Anne Copenhefer, Esq.

Bingham McCutchen LLP

One Federal Street

Boston, Massachusetts 02110

 

It is proposed that this filing will become effective (check appropriate box):

 

 

x

Immediately upon filing pursuant to paragraph (b)

 

o

On [                  ] pursuant to paragraph (b)

 

o

60 days after filing pursuant to paragraph a(1)

 

o

On [                  ] pursuant to paragraph a(1)

 

o

75 days after filing pursuant to paragraph a(2)

 

o

On [date] pursuant to paragraph (a)(2) of Rule 485

 

 

 



 

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 under Rule 485 (b) under the Securities Act and has duly caused this Post-Effective Amendment No. 18 to the Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, and State of New York, on November 9, 2012.

 

 

 

CRM MUTUAL FUND TRUST

 

 

 

 

 

By:

/s/ Ronald H. McGlynn

 

Ronald H. McGlynn

 

Chief Executive 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 indicated below on November 9, 2012.

 

SIGNATURE

 

TITLE

 

 

 

/s/ Ronald H. McGlynn

 

Chief Executive Officer

Ronald H. McGlynn

 

 

 

 

 

* /s/ Louis Ferrante

 

Trustee

Louis Ferrante

 

 

 

 

 

* /s/ Louis Klein, Jr.

 

Trustee

Louis Klein, Jr.

 

 

 

 

 

/s/ Carlos A. Leal

 

Chief Financial Officer and Trustee

Carlos A. Leal

 

 

 

 

 

* /s/ Clement C. Moore, II

 

Trustee

Clement C. Moore, II

 

 

 

* By

/s/ Carlos A. Leal

 

 

 

Carlos A. Leal, Attorney-in-Fact

 

 

 



 

Exhibit Index

 

Exhibit No.

 

Description

 

 

 

EX-101.INS

 

XBRL Instance Document

 

 

 

EX-101.SCH

 

XBRL Taxonomy Extension Schema Document

 

 

 

EX-101.CAL

 

XBRL Taxonomy Extension Calculation Linkbase

 

 

 

EX-101.DEF

 

XBRL Taxonomy Extension Definition Linkbase

 

 

 

EX-101.LAB

 

XBRL Taxonomy Extension Labels Linkbase

 

 

 

EX-101.PRE

 

XBRL Taxomony Extension Presentation Linkbase

 


EX-101.INS 2 ck0001322252-20120630.xml XBRL INSTANCE DOCUMENT 485BPOS 2012-06-30 0001322252 2012-10-26 CRM Mutual Fund Trust false 2012-10-26 2012-10-26 <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 Fund's portfolio turnover rate was 220%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.crmfunds.com/role/ExpenseExample_S000024466Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/BarChartData_S000024466Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>CRM International Opportunity Fund seeks long-term capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example below shows what<br />you would pay if you invested $10,000 over the various time periods indicated.<br />The Example assumes that you reinvested all dividends and other distributions;<br />the average annual return was 5%; the Fund's total operating expenses<br />(reflecting applicable contractual fee waivers and expense reimbursement<br />arrangements) are charged and remain the same over the time periods; and you<br />redeemed all of your investment at the end of each time period.<br /><br />Although your actual costs may be higher or lower based on these assumptions,<br />your costs would be:</tt> reflects no deduction for fees, expenses or taxes <tt>The Fund, under normal circumstances, invests at least 80% of its assets in<br />equity and equity related securities of foreign companies. The Fund normally<br />invests in the securities of companies that are tied economically to at least <br />10 countries, other than the U.S. The Fund may invest in companies located in<br />developed and emerging markets. Emerging markets include countries that have <br />an emerging stock market as defined by Standard &amp; Poor's, Inc., countries or<br />markets with low- to- middle-income economies as classified by the World Bank,<br />and other countries or markets with similar emerging characteristics. The Fund<br />may invest in companies of any size. For purposes of the 80% investment policy,<br />equity and equity related securities include: common and preferred stocks,<br />securities convertible into common stock, and warrants on common stock.<br /><br />The Adviser evaluates investment opportunities for the Fund using a proprietary<br />value-oriented process that seeks to identify companies characterized by three<br />attributes: change, neglect and relative valuation. The Adviser seeks to identify <br />those changes that are material to a company's operations, outlook and prospects <br />while also identifying companies that it believes have been neglected by other <br />investors. The Adviser utilizes a primarily qualitative research process focused <br />on these attributes to identify and invest in relatively undervalued companies. <br />These factors formulate the Adviser's investment case for each company under <br />consideration for investment. An important function of the Adviser's investment <br />process is to set a price target at which the security will be sold, provided <br />that there has been no fundamental change in the investment case. The Adviser <br />monitors each security held by the Fund to determine if the security continues <br />to act in accordance with the Adviser's initial assessment. Ordinarily, once the <br />Adviser believes that an investment case has realized its anticipated prospects, <br />the security will be sold. Additionally, the security would typically be sold if <br />the identified change does not have the expected impact on earnings and cash flow <br />of the company or a company's fundamentals deteriorate, or due to other market<br />conditions that would cause the Adviser to believe a sale would be advisable.</tt> CRM INTERNATIONAL OPPORTUNITY FUND Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. 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 Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future. It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund buys will increase in value. PRINCIPAL INVESTMENT RISKS SHAREHOLDER FEES (fees paid directly from your investment) 2.20 Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEAR ENDED DECEMBER 31 PERFORMANCE INFORMATION <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 taxes. <br />Actual after-tax returns will depend on your tax situation, may differ from those <br />shown and are not relevant if you hold your shares through tax-deferred arrangements, <br />such as 401(k) plans or individual retirement accounts. After-tax returns are shown <br />only for Institutional Shares. After-tax returns for Investor Shares will vary.</tt> The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one year and since inception, both before and after taxes, compare with those of the MSCI EAFE Index, a broad-based measure of market performance. <tt>Calendar YTD Total Return as af September 30, 2012: 13.51%<br /><br />&#xA0;&#xA0;Best Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Worst Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;25.82%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(25.94)%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />For the quarter ended June 30, 2009&#xA0;&#xA0;&#xA0;For the quarter ended September 30, 2011</tt> 800-CRM-2883 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns as of December 31, 2011 PORTFOLIO TURNOVER <tt>It is possible to lose money by investing in the Fund. There is no guarantee<br />that the stock market or the stocks the Fund buys will increase in value. The<br />following is a summary description of certain risks of investing in the Fund.<br /><br />Market Risk. Stock markets are volatile and can decline significantly in<br />response to adverse issuer, regulatory, market or economic developments.<br />Different parts of the U.S. market and different markets around the world can<br />react differently to these developments. When market prices fall, the value of<br />your investment will go down. The financial crisis that began in 2008 has caused<br />a significant decline in the value and liquidity of many securities of issuers<br />worldwide. Some governmental and non-governmental issuers (notably in Europe)<br />have defaulted on, or been forced to restructure, their debts, and many other<br />issuers have faced difficulties obtaining credit. These market conditions may<br />continue, worsen or spread, including in the U.S., Europe and beyond. Further<br />defaults or restructurings by governments and others of their debt could have<br />additional adverse effects on economies, financial markets and asset valuations<br />around the world. Whether or not the Fund invests in securities of issuers<br />located in or with significant exposure to countries experiencing economic and<br />financial difficulties, these events could negatively affect the value and<br />liquidity of the Fund's investments. The Fund may experience a substantial or<br />complete loss on any individual security. In addition, legislation recently<br />enacted in the U.S. calls for changes in many aspects of financial regulation.<br />The impact of the legislation on the markets, and the practical implications for<br />market participants, may not be fully known for some time.<br /><br />Company Risk. The value of an individual security or particular type of security<br />can be more volatile than the market as a whole and can perform differently from<br />the market as a whole. This may result from a wide variety of factors that affect <br />particular companies or industries, including changes in market demand for <br />particular goods and services, increases in costs of supply, changes in management, <br />increased competition and changes in regulatory environment.<br /><br />Value Investing Risk. Value stocks can perform differently from the market as a<br />whole and other types of stocks and can continue to be undervalued by the market<br />for long periods of time. The Adviser may be incorrect when it decides that a<br />stock is undervalued by the market.<br /><br />Portfolio Selection Risk. The value of your investment may decrease if the <br />Adviser's judgment about the attractiveness, value of, or market trends affecting <br />a particular security, industry or sector, country or region, or about market <br />movements, is incorrect.<br /><br />Risks of Foreign Investments. Investing in foreign securities involves special<br />risks that can increase the potential for losses. These risks may include<br />nationalization or expropriation of assets, illiquid foreign securities markets,<br />confiscatory taxation, foreign withholding taxes, natural disasters and<br />political, economic or social instability. Because many foreign markets are<br />smaller, less liquid and more volatile, the Fund may not be able to sell<br />portfolio securities at times, in amounts and at prices it considers reasonable.<br />In some foreign countries, less information is available about issuers and<br />markets. Foreign markets may offer less protection to investors. Foreign stocks<br />can fluctuate more widely in price than comparable U.S. stocks, and they may<br />also be less liquid.<br /><br />Currency Risk. The Fund generally invests in securities denominated in foreign<br />currencies, and could experience gains or losses solely on changes in the<br />exchange rate between foreign currencies and the U.S. dollar. Currency exchange<br />rates can be volatile, and are affected by factors such as general economic<br />conditions, the actions of the U.S. and foreign governments or central banks,<br />and the imposition of currency controls or restrictions and speculation.<br /><br />Emerging Markets Risk.The risks of investing in foreign securities are generally<br />greater in emerging markets, or to the extent that the Fund invests significantly <br />in one region or country. The extent of economic development, political stability, <br />market depth, infrastructure, capitalization and regulatory oversight can be less <br />than in more developed markets. The economies of emerging market countries may be <br />dependent on relatively few industries that are more susceptible to local and <br />global changes. Emerging market countries may experience rising interest rates, <br />or, more significantly, rapid inflation or hyperinflation.<br /><br />Risks of Small and Mid Cap Companies. Compared to mutual funds that focus<br />exclusively on large capitalization companies, the Fund may be more volatile<br />because it also invests in small and/or mid capitalization companies. Small and<br />mid capitalization companies are more likely to have more limited product lines,<br />fewer capital resources and less depth of management than larger companies.<br />Securities of smaller companies may have limited liquidity and may be difficult<br />to value or to sell at an advantageous time or without a substantial drop in<br />price.<br /><br />Focus Risk. To the extent that the Fund invests in a smaller number of issuers<br />or emphasizes investments in particular industries or market sectors, the Fund<br />will be subject to a greater degree to any market price movements, regulatory or<br />technological changes, economic conditions or other developments affecting those<br />issuers or companies in those industries or market sectors.<br /><br />Portfolio Turnover Risk.If the Fund does a lot of trading, it may incur additional <br />operating expenses, which would reduce performance, and could cause shareowners to <br />incur a higher level of taxable income or capital gains.<br /><br />Expense Risk. Your actual costs of investing in the Fund may be higher than the<br />expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For<br />example, expense ratios may be higher than those shown if overall net assets<br />decrease. Net assets are more likely to decrease and Fund expense ratios are<br />more likely to increase when markets are volatile.<br /><br />These and other risks are discussed in more detail later in this prospectus or<br />in the statement of additional information.<br /><br />An investment in the Fund is not a bank deposit and is not insured or guaranteed <br />by the Federal Deposit Insurance Corporation or any other government agency.</tt> FEES AND EXPENSES After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary. PRINCIPAL INVESTMENT STRATEGIES www.crmfunds.com/performance_daily.aspx <tt>The bar chart and the average annual total return table below illustrate the risks <br />and volatility of an investment in the Fund. The bar chart shows changes in the <br />Fund's performance from calendar year to calendar year for Institutional Shares. <br />The table shows how the Fund's average annual total returns for one year and since <br />inception, both before and after taxes, compare with those of the MSCI EAFE Index, <br />a broad-based measure of market performance. Total returns would have been lower <br />had certain fees and expenses not been waived. The Fund makes updated performance <br />information available at the Fund's website, www.crmfunds.com/performance_daily.aspx, <br />or at the following telephone number: 800-CRM-2883. Of course, the Fund's past <br />performance, both before and after taxes, does not necessarily indicate how the <br />Fund will perform in the future.</tt> <tt>This table sets forth the fees and expenses that you may pay if you buy and hold<br />shares of the Fund.</tt> <div style="display:none">~ http://www.crmfunds.com/role/OperatingExpensesData_S000024466Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/PerformanceTableData_S000024466Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <div style="display:none">~ http://www.crmfunds.com/role/ShareholderFeesData_S000024466Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> MSCI EAFE Index (reflects no deduction for fees, expenses or taxes) -0.1214 0.0765 2008-12-31 After Taxes on Distributions and Sale of Shares -0.1110 0.1059 2008-12-31 After Taxes on Distributions -0.2133 0.1120 2008-12-31 CRIIX Worst Quarter During the Period Covered in the Bar Chart Best Quarter During the Period Covered in the Bar Chart 2012-09-30 Before Taxes 0.0000 128 2009-06-30 732 -0.2594 -0.0159 0.2144 3061 -0.0150 1363 0.2582 -0.1834 0.0194 0.0090 2013-11-01 2011-09-30 0.4684 YTD Total Return 0.0194 -0.1834 0.00 0.0126 0.0285 0.1335 2008-12-31 0.1351 0.0001 CRMIX Before Taxes 0.0025 154 777 -0.0144 3168 -0.0150 1426 -0.1854 0.0204 0.0090 2013-11-01 0.0179 0.00 0.0151 0.0295 0.1307 2008-12-31 0.0001 <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 Fund's portfolio turnover rate was 191%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.crmfunds.com/role/ExpenseExample_S000024465Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/BarChartData_S000024465Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>CRM Global Opportunity Fund seeks long-term capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example below shows what<br />you would pay if you invested $10,000 over the various time periods indicated.<br />The Example assumes that you reinvested all dividends and other distributions;<br />the average annual return was 5%; the Fund's total operating expenses<br />(reflecting applicable contractual fee waivers and expense reimbursement<br />arrangements) are charged and remain the same over the time periods; and you<br />redeemed all of your investment at the end of each time period.<br /><br />Although your actual costs may be higher or lower based on these assumptions,<br />your costs would be:</tt> reflects no deduction for fees, expenses or taxes <tt>The Fund, under normal circumstances, invests at least 80% of its assets in<br />equity and equity related securities of U.S. and foreign companies. The Fund<br />normally invests in the securities of companies that are tied economically to at<br />least 10 countries, including the U.S. The Fund may invest in companies located<br />in developed and emerging markets. Emerging markets include countries that have<br />an emerging stock market as defined by Standard &amp; Poor's, Inc., countries or<br />markets with low- to middle-income economies as classified by the World Bank,<br />and other countries or markets with similar emerging characteristics. The Fund<br />may at any one time invest all or substantially all of its assets in foreign<br />companies and at another time invest substantially in U.S. companies, although,<br />under normal market conditions, it is expected that a majority of the Fund's<br />assets will be invested in foreign companies. The Fund may invest in companies<br />of any size. For purposes of the 80% investment policy, equity and equity<br />related securities include: common and preferred stocks, securities convertible<br />into common stock, and warrants on common stock.<br /><br />The Adviser evaluates investment opportunities for the Fund using a proprietary<br />value-oriented process that seeks to identify companies characterized by three<br />attributes: change, neglect and relative valuation. The Adviser seeks to identify <br />those changes that are material to a company's operations, outlook and prospects <br />while also identifying companies that it believes have been neglected by other <br />investors. The Adviser utilizes a primarily qualitative research process focused <br />on these attributes to identify and invest in relatively undervalued companies. <br />These factors formulate the Adviser's investment case for each company under<br />consideration for investment. An important function of the Adviser's investment<br />process is to set a price target at which the security will be sold, provided<br />that there has been no fundamental change in the investment case. The Adviser<br />monitors each security held by the Fund to determine if the security continues<br />to act in accordance with the Adviser's initial assessment. Ordinarily, once the<br />Adviser believes that an investment case has realized its anticipated prospects,<br />the security will be sold. Additionally, the security would typically be sold if<br />the identified change does not have the expected impact on earnings and cash<br />flow of the company or a company's fundamentals deteriorate, or due to other<br />market conditions that would cause the Adviser to believe a sale would be advisable.</tt> CRM GLOBAL OPPORTUNITY FUND Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. 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 Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future. It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund buys will increase in value. PRINCIPAL INVESTMENT RISKS SHAREHOLDER FEES (fees paid directly from your investment) 1.91 Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEAR ENDED DECEMBER 31 PERFORMANCE INFORMATION <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 taxes. <br />Actual after-tax returns will depend on your tax situation, may differ from those <br />shown and are not relevant if you hold your shares through tax-deferred arrangements, <br />such as 401(k) plans or individual retirement accounts. After-tax returns are shown <br />only for Institutional Shares. After-tax returns for Investor Shares will vary.</tt> The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one year and since inception, both before and after taxes, compare with those of the MSCI World Index, a broad-based measure of market performance. <tt>Calendar YTD Total Return as of September 30, 2012: 14.24%<br /><br />&#xA0;&#xA0;Best Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Worst Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;25.54%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(25.69)%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />For the quarter ended June 30, 2009&#xA0;&#xA0;&#xA0;For the quarter ended September 30, 2011</tt> 800-CRM-2883 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns as of December 31, 2011 PORTFOLIO TURNOVER <tt>It is possible to lose money by investing in the Fund. There is no guarantee<br />that the stock market or the stocks the Fund buys will increase in value. The<br />following is a summary description of certain risks of investing in the Fund.<br /><br />Market Risk. Stock markets are volatile and can decline significantly in<br />response to adverse issuer, regulatory, market or economic developments.<br />Different parts of the U.S. market and different markets around the world can<br />react differently to these developments. When market prices fall, the value of<br />your investment will go down. The financial crisis that began in 2008 has caused<br />a significant decline in the value and liquidity of many securities of issuers<br />worldwide. Some governmental and non-governmental issuers (notably in Europe)<br />have defaulted on, or been forced to restructure, their debts, and many other<br />issuers have faced difficulties obtaining credit. These market conditions may<br />continue, worsen or spread, including in the U.S., Europe and beyond. Further<br />defaults or restructurings by governments and others of their debt could have<br />additional adverse effects on economies, financial markets and asset valuations<br />around the world. Whether or not the Fund invests in securities of issuers<br />located in or with significant exposure to countries experiencing economic and<br />financial difficulties, these events could negatively affect the value and<br />liquidity of the Fund's investments. The Fund may experience a substantial or<br />complete loss on any individual security. In addition, legislation recently<br />enacted in the U.S. calls for changes in many aspects of financial regulation.<br />The impact of the legislation on the markets, and the practical implications for<br />market participants, may not be fully known for some time.<br /><br />Company Risk. The value of an individual security or particular type of security<br />can be more volatile than the market as a whole and can perform differently from<br />the market as a whole. This may result from a wide variety of factors that affect <br />particular companies or industries, including changes in market demand for <br />particular goods and services, increases in costs of supply, changes in management, <br />increased competition and changes in regulatory environment.<br /><br />Value Investing Risk. Value stocks can perform differently from the market as a<br />whole and other types of stocks and can continue to be undervalued by the market<br />for long periods of time. The Adviser may be incorrect when it decides that a<br />stock is undervalued by the market.<br /><br />Portfolio Selection Risk. The value of your investment may decrease if the Adviser's <br />judgment about the attractiveness, value of, or market trends affecting a particular <br />security, industry or sector, country or region, or about market movements, is <br />incorrect.<br /><br />Risks of Foreign Investments. Investing in foreign securities involves special<br />risks that can increase the potential for losses. These risks may include<br />nationalization or expropriation of assets, illiquid foreign securities markets,<br />confiscatory taxation, foreign withholding taxes, natural disasters and<br />political, economic or social instability. Because many foreign markets are<br />smaller, less liquid and more volatile, the Fund may not be able to sell<br />portfolio securities at times, in amounts and at prices it considers reasonable.<br />In some foreign countries, less information is available about issuers and<br />markets. Foreign markets may offer less protection to investors. Foreign stocks<br />can fluctuate more widely in price than comparable U.S. stocks, and they may<br />also be less liquid.<br /><br />Currency Risk. The Fund generally invests in securities denominated in foreign<br />currencies, and could experience gains or losses solely on changes in the<br />exchange rate between foreign currencies and the U.S. dollar. Currency exchange<br />rates can be volatile, and are affected by factors such as general economic<br />conditions, the actions of the U.S. and foreign governments or central banks,<br />and the imposition of currency controls or restrictions and speculation.<br /><br />Emerging Markets Risk.The risks of investing in foreign securities are generally<br />greater in emerging markets, or to the extent that the Fund invests significantly <br />in one region or country. The extent of economic development, political stability, <br />market depth, infrastructure, capitalization and regulatory oversight can be less <br />than in more developed markets. The economies of emerging market countries may be <br />dependent on relatively few industries that are more susceptible to local and <br />global changes. Emerging market countries may experience rising interest rates, <br />or, more significantly, rapid inflation or hyperinflation.<br /><br />Risks of Small and Mid Cap Companies. Compared to mutual funds that focus<br />exclusively on large capitalization companies, the Fund may be more volatile<br />because it also invests in small and/or mid capitalization companies. Small and<br />mid capitalization companies are more likely to have more limited product lines,<br />fewer capital resources and less depth of management than larger companies.<br />Securities of smaller companies may have limited liquidity and may be difficult<br />to value or sell at advantageous time or without a substantial drop in price.<br /><br />Focus Risk. To the extent that the Fund invests in a smaller number of issuers<br />or emphasizes investments in particular industries or market sectors, the Fund<br />will be subject to a greater degree to any market price movements, regulatory or<br />technological changes, economic conditions or other developments affecting those<br />issuers or companies in those industries or market sectors.<br /><br />Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur<br />additional operating expenses, which would reduce performance, and could cause<br />shareowners to incur a higher level of taxable income or capital gains.<br /><br />Expense Risk. Your actual costs of investing in the Fund may be higher than the<br />expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For<br />example, expense ratios may be higher than those shown if overall net assets<br />decrease. Net assets are more likely to decrease and Fund expense ratios are<br />more likely to increase when markets are volatile.<br /><br />These and other risks are discussed in more detail later in this prospectus or<br />in the statement of additional information.<br /><br />An investment in the Fund is not a bank deposit and is not insured or guaranteed<br />by the Federal Deposit Insurance Corporation or any other government agency.</tt> FEES AND EXPENSES After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary. PRINCIPAL INVESTMENT STRATEGIES www.crmfunds.com/performance_daily.aspx <tt>The bar chart and the average annual total return table below illustrate the risks <br />and volatility of an investment in the Fund. The bar chart shows changes in the <br />Fund's performance from calendar year to calendar year for Institutional Shares. <br />The table shows how the Fund's average annual total returns for one year and since <br />inception, both before and after taxes, compare with those of the MSCI World Index, <br />a broad-based measure of market performance. Total returns would have been lower <br />had certain fees and expenses not been waived. The Fund makes updated performance <br />information available at the Fund's website, www.crmfunds.com/performance_daily.aspx, <br />or at the following telephone number: 800-CRM-2883. Of course, the Fund's past <br />performance, both before and after taxes, does not necessarily indicate how the <br />Fund will perform in the future.</tt> <tt>This table sets forth the fees and expenses that you may pay if you buy and hold<br />shares of the Fund.</tt> <div style="display:none">~ http://www.crmfunds.com/role/OperatingExpensesData_S000024465Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/PerformanceTableData_S000024465Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <div style="display:none">~ http://www.crmfunds.com/role/ShareholderFeesData_S000024465Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> MSCI World Index (reflects no deduction for fees, expenses or taxes) -0.0554 0.1113 2008-12-31 After Taxes on Distributions and Sale of Shares -0.1186 0.1041 2008-12-31 After Taxes on Distributions -0.2286 0.1121 2008-12-31 CRIWX Worst Quarter During the Period Covered in the Bar Chart Best Quarter During the Period Covered in the Bar Chart 2012-09-30 Before Taxes 0.0000 128 2009-06-30 427 -0.2569 -0.0013 0.2388 1657 -0.0150 748 0.2554 -0.1907 0.0048 0.0090 2013-11-01 2011-09-30 0.4480 YTD Total Return 0.0048 -0.1907 0.00 0.0126 0.0139 0.1323 2008-12-31 0.1424 0.0001 CRMWX Before Taxes 0.0025 154 502 -0.0012 1923 -0.0150 875 -0.1925 0.0072 0.0090 2013-11-01 0.0047 0.00 0.0151 0.0163 0.1295 2008-12-31 0.0001 <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 Fund's portfolio turnover rate was 145%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.crmfunds.com/role/ExpenseExample_S000013816Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/BarChartData_S000013816Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>CRM All Cap Value Fund seeks long-term capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example below shows what<br />you would pay if you invested $10,000 over the various time periods indicated.<br />The Example assumes that you reinvested all dividends and other distributions;<br />the average annual return was 5%; the Fund's total operating expenses<br />(reflecting applicable contractual fee waivers and expense reimbursement<br />arrangements) are charged and remain the same over the time periods; and <br />you redeemed all of your investment at the end of each time period.<br /><br />Although your actual costs may be higher or lower based on these assumptions,<br />your costs would be:</tt> reflects no deduction for fees, expenses or taxes <tt>The Fund, under normal circumstances, invests at least 80% of its assets in<br />equity and equity related securities of U.S. and non-U.S. companies that are<br />publicly traded on a U.S. securities market. There are no limits on the market<br />capitalizations of the companies in which the Fund may invest. For purposes of<br />the 80% investment policy, equity and equity related securities include: common<br />and preferred stocks, securities convertible into common stock, and warrants on<br />common stock.<br /><br />The Adviser evaluates investment opportunities for the Fund using a proprietary<br />value-oriented process that seeks to identify companies characterized by three<br />attributes: change, neglect and relative valuation. The Adviser seeks to identify <br />those changes that are material to a company's operations, outlook and prospects <br />while also identifying companies that it believes have been neglected by other <br />investors. The Adviser utilizes a primarily qualitative research process focused <br />on these attributes to identify and invest in relatively undervalued companies.<br />These factors formulate the Adviser's investment case for each company under<br />consideration for investment. An important function of the Adviser's investment<br />process is to set a price target at which the security will be sold, provided<br />that there has been no fundamental change in the investment case. The Adviser<br />monitors each security held by the Fund to determine if the security continues<br />to act in accordance with the Adviser's initial assessment. Ordinarily, once the<br />Adviser believes that an investment case has realized its anticipated prospects,<br />the security will be sold. Additionally, the security would typically be sold if<br />the identified change does not have the expected impact on earnings and cash flow <br />of the company or a company's fundamentals deteriorate, or due to other market <br />conditions that would cause the Adviser to believe a sale would be advisable.</tt> CRM ALL CAP VALUE FUND 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. Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. INVESTMENT OBJECTIVE Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future. It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund buys will increase in value. PRINCIPAL INVESTMENT RISKS 1.45 Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31 PERFORMANCE INFORMATION <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 taxes. <br />Actual after-tax returns will depend on your tax situation, may differ from those <br />shown and are not relevant if you hold your shares through tax-deferred arrangements, <br />such as 401(k) plans or individual retirement accounts. After-tax returns are shown <br />only for Institutional Shares. After-tax returns for Investor Shares will vary.</tt> The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one year, five years and since inception, both before and after taxes, compare with those of the Russell 3000 Value Index and the Russell 3000 Index, two broad-based measures of market performance. <tt>Calendar YTD Total Return as of September 30, 2012: 16.23%<br /><br />&#xA0;&#xA0;Best Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Worst Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;17.89%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(23.47)%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />For the quarter ended June 30, 2009&#xA0;&#xA0;&#xA0;For the quarter ended December 31, 2008</tt> 800-CRM-2883 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns as of December 31, 2011 PORTFOLIO TURNOVER <tt>It is possible to lose money by investing in the Fund. There is no guarantee<br />that the stock market or the stocks the Fund buys will increase in value. The<br />following is a summary description of certain risks of investing in the Fund.<br /><br />Market Risk. Stock markets are volatile and can decline significantly in response <br />to adverse issuer, regulatory, market or economic developments. Different parts <br />of the U.S. market and different markets around the world can react differently <br />to these developments. When market prices fall, the value of your investment <br />will go down. The financial crisis that began in 2008 has caused a significant <br />decline in the value and liquidity of many securities of issuers worldwide. <br />Some governmental and non-governmental issuers (notably in Europe) have <br />defaulted on, or been forced to restructure, their debts, and many other issuers <br />have faced difficulties obtaining credit. These market conditions may continue, <br />worsen or spread, including in the U.S., Europe and beyond. Further defaults or <br />restructurings by governments and others of their debt could have additional <br />adverse effects on economies, financial markets and asset valuations around the <br />world. Whether or not the Fund invests in securities of issuers located in or <br />with significant exposure to countries experiencing economic and financial <br />difficulties, these events could negatively affect the value and liquidity of <br />the Fund's investments. The Fund may experience a substantial or complete loss <br />on any individual security. In addition, legislation recently enacted in the <br />U.S. calls for changes in many aspects of financial regulation. The impact of <br />the legislation on the markets, and the practical implications for market <br />participants, may not be fully known for some time.<br /><br />Company Risk. The value of an individual security or particular type of security<br />can be more volatile than the market as a whole and can perform differently from<br />the market as a whole. This may result from a wide variety of factors that affect <br />particular companies or industries, including changes in market demand for <br />particular goods and services, increases in costs of supply, changes in management, <br />increased competition and changes in regulatory environment.<br /><br />Value Investing Risk. Value stocks can perform differently from the market as a<br />whole and other types of stocks and can continue to be undervalued by the market<br />for long periods of time. The Adviser may be incorrect when it decides that a<br />stock is undervalued by the market.<br /><br />Portfolio Selection Risk. The value of your investment may decrease if the<br />Adviser's judgment about the attractiveness, value of, or market trends affecting <br />a particular security, industry or sector, country or region, or about market <br />movements, is incorrect.<br /><br />Risks of Small and Mid Cap Companies. Compared to mutual funds that focus<br />exclusively on large capitalization companies, the Fund may be more volatile<br />because it also invests in small and/or mid capitalization companies. Small and<br />mid capitalization companies are more likely to have more limited product lines,<br />fewer capital resources and less depth of management than larger companies.<br />Securities of smaller companies may have limited liquidity and may be difficult<br />to value or to sell at an advantageous time or without a substantial drop in<br />price.<br /><br />Risks of Foreign Investments. Investing in foreign securities involves special<br />risks that can increase the potential for losses. These risks may include<br />nationalization or expropriation of assets, illiquid foreign securities markets,<br />confiscatory taxation, foreign withholding taxes, imposition of currency<br />controls or restrictions, natural disasters and political, economic or social<br />instability. Because many foreign markets are smaller, less liquid and more<br />volatile, the Fund may not be able to sell portfolio securities at times, in<br />amounts and at prices it considers reasonable. In some foreign countries, less<br />information is available about issuers and markets. Foreign markets may offer<br />less protection to investors. Foreign stocks can fluctuate more widely in price<br />than comparable U.S. stocks, and they may also be less liquid. Currency<br />fluctuations could erase investment gains or add to investment losses.<br /><br />Focus Risk. To the extent that the Fund invests in a smaller number of issuers<br />or emphasizes investments in particular industries or market sectors, the Fund<br />will be subject to a greater degree to any market price movements, regulatory or<br />technological changes, economic conditions or other developments affecting those<br />issuers or companies in those industries or market sectors.<br /><br />Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur<br />additional operating expenses, which would reduce performance, and could cause<br />shareowners to incur a higher level of taxable income or capital gains.<br /><br />Expense Risk. Your actual costs of investing in the Fund may be higher than the<br />expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For<br />example, expense ratios may be higher than those shown if overall net assets<br />decrease. Net assets are more likely to decrease and Fund expense ratios are<br />more likely to increase when markets are volatile.<br /><br />These and other risks are discussed in more detail later in this prospectus or<br />in the statement of additional information.<br /><br />An investment in the Fund is not a bank deposit and is not insured or guaranteed<br />by the Federal Deposit Insurance Corporation or any other government agency.</tt> FEES AND EXPENSES After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary. PRINCIPAL INVESTMENT STRATEGIES www.crmfunds.com/performance_daily.aspx <tt>The bar chart and the average annual total return table below illustrate the risks <br />and volatility of an investment in the Fund. The bar chart shows changes in the <br />Fund's performance from calendar year to calendar year for Institutional Shares. <br />The table shows how the Fund's average annual total returns for one year, five <br />years and since inception, both before and after taxes, compare with those of the <br />Russell 3000 Value Index and the Russell 3000 Index, two broad-based measures of <br />market performance. Total returns would have been lower had certain fees and <br />expenses not been waived. The Fund makes updated performance information available <br />at the Fund's website, www.crmfunds.com/performance_daily.aspx, or at the following <br />telephone number: 800-CRM-2883. Of course, the Fund's past performance, both before <br />and after taxes, does not necessarily indicate how the Fund will perform in the future.</tt> <tt>This table sets forth the fees and expenses that you may pay if you buy and hold<br />shares of the Fund.</tt> <div style="display:none">~ http://www.crmfunds.com/role/OperatingExpensesData_S000013816Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/PerformanceTableData_S000013816Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Russell 3000 Index (reflects no deduction for fees, expenses or taxes) 0.0103 -0.0001 0.0066 2006-10-24 Russell 3000 Value Index (reflects no deduction for fees, expenses or taxes) -0.0010 -0.0258 -0.0161 2006-10-24 After Taxes on Distributions and Sale of Shares -0.0588 -0.0116 -0.0064 2006-10-24 After Taxes on Distributions -0.1001 -0.0152 -0.0091 2006-10-24 CRIEX Worst Quarter During the Period Covered in the Bar Chart Best Quarter During the Period Covered in the Bar Chart 2012-09-30 Before Taxes 0.0000 128 2009-06-30 417 -0.2347 -0.0008 0.1842 1606 726 0.0429 0.1789 -0.0967 0.0038 -0.3626 0.0095 2013-11-01 2008-12-31 0.3167 -0.0131 YTD Total Return 0.0038 -0.0967 0.00 0.0126 0.0134 -0.0069 2006-10-24 0.1623 0.0001 CRMEX Before Taxes 0.0025 154 494 -0.0008 1882 858 -0.0991 0.0063 0.0095 2013-11-01 -0.0157 0.0038 0.00 0.0151 0.0159 -0.0095 2006-10-24 0.0001 <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 Fund's portfolio turnover rate was 126%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.crmfunds.com/role/ExpenseExample_S000002555Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/BarChartData_S000002555Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>CRM Large Cap Opportunity Fund seeks long-term capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example below shows what<br />you would pay if you invested $10,000 over the various time periods indicated.<br />The Example assumes that you reinvested all dividends and other distributions;<br />the average annual return was 5%; the Fund's total operating expenses (reflecting <br />applicable contractual fee waivers and expense reimbursement arrangements) are <br />charged and remain the same over the time periods; and you redeemed all of your <br />investment at the end of each time period. <br /><br />Although your actual costs may be higher or lower based on these assumptions, <br />your costs would be:</tt> reflects no deduction for fees, expenses or taxes <tt>The Fund, under normal circumstances, invests at least 80% of its assets in<br />equity and equity related securities of U.S. and non-U.S. companies with market<br />capitalizations at the time of initial purchase within the range of those in the<br />Russell 1000 Value Index ("large cap companies") that are publicly traded on a<br />U.S. securities market. The market capitalization range of the Index changes<br />constantly, and as a result, the capitalization of large cap companies in which<br />the Fund will invest will also change. As of September 30, 2012, the market<br />capitalization range of the Index was approximately $300 million to $427.6 billion. <br />For purposes of the 80% investment policy, equity and equity related securities <br />include: common and preferred stocks, securities convertible into common stock, <br />and warrants on common stock.<br /><br />The Adviser evaluates investment opportunities for the Fund using a proprietary<br />value-oriented process that seeks to identify companies characterized by three<br />attributes: change, neglect and relative valuation. The Adviser seeks to identify <br />those changes that are material to a company's operations, outlook and prospects <br />while also identifying companies that it believes have been neglected by other <br />investors. The Adviser utilizes a primarily qualitative research process focused <br />on these attributes to identify and invest in relatively undervalued companies. <br />These factors formulate the Adviser's investment case for each company under <br />consideration for investment. An important function of the Adviser's investment <br />process is to set a price target at which the security will be sold, provided <br />that there has been no fundamental change in the investment case. The Adviser <br />monitors each security held by the Fund to determine if the security continues <br />to act in accordance with the Adviser's initial assessment. Ordinarily, once the <br />Adviser believes that an investment case has realized its anticipated prospects, <br />the security will be sold. Additionally, the security would typically be sold if <br />the identified change does not have the expected impact on earnings and cash flow <br />of the company or a company's fundamentals deteriorate, or due to other market <br />conditions that would cause the Adviser to believe a sale would be advisable.</tt> CRM LARGE CAP OPPORTUNITY FUND Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. 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 Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future. It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund buys will increase in value. PRINCIPAL INVESTMENT RISKS 1.26 Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31 PERFORMANCE INFORMATION <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 taxes. <br />Actual after-tax returns will depend on your tax situation, may differ from those <br />shown and are not relevant if you hold your shares through tax-deferred arrangements, <br />such as 401(k) plans or individual retirement accounts. After-tax returns are shown <br />only for Institutional Shares. After-tax returns for Investor Shares will vary.</tt> The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one year, five years and since inception, both before and after taxes, compare with those of the Russell 1000 Value Index and the Russell 1000 Index, two broad-based measures of market performance. <tt>Calendar YTD Total Return as of September 30, 2012: 16.45%<br /> <br />&#xA0;&#xA0;&#xA0;&#xA0;Best Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Worst Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;14.15%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(20.18)%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />For the quarter ended June 30, 2009&#xA0;&#xA0;&#xA0;For the quarter ended December 31, 2008</tt> 800-CRM-2883 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns as of December 31, 2011 PORTFOLIO TURNOVER <tt>It is possible to lose money by investing in the Fund. There is no guarantee<br />that the stock market or the stocks the Fund buys will increase in value. The<br />following is a summary description of certain risks of investing in the Fund.<br />&#xA0;&#xA0;<br />Market Risk. Stock markets are volatile and can decline significantly in<br />response to adverse issuer, regulatory, market or economic developments.<br />Different parts of the U.S. market and different markets around the world can<br />react differently to these developments. When market prices fall, the value of<br />your investment will go down. The financial crisis that began in 2008 has caused<br />a significant decline in the value and liquidity of many securities of issuers<br />worldwide. Some governmental and non-governmental issuers (notably in Europe)<br />have defaulted on, or been forced to restructure, their debts, and many other<br />issuers have faced difficulties obtaining credit. These market conditions may<br />continue, worsen or spread, including in the U.S., Europe and beyond. Further<br />defaults or restructurings by governments and others of their debt could have<br />additional adverse effects on economies, financial markets and asset valuations<br />around the world. Whether or not the Fund invests in securities of issuers<br />located in or with significant exposure to countries experiencing economic and<br />financial difficulties, these events could negatively affect the value and<br />liquidity of the Fund's investments. The Fund may experience a substantial or<br />complete loss on any individual security. In addition, legislation recently<br />enacted in the U.S. calls for changes in many aspects of financial regulation.<br />The impact of the legislation on the markets, and the practical implications <br />for market participants, may not be fully known for some time.<br />&#xA0;&#xA0;<br />Company Risk. The value of an individual security or particular type of security<br />can be more volatile than the market as a whole and can perform differently from<br />the market as a whole. This may result from a wide variety of factors that<br />affect particular companies or industries, including changes in market demand<br />for particular goods and services, increases in costs of supply, changes in<br />management, increased competition and changes in regulatory environment.<br /> <br />Value Investing Risk. Value stocks can perform differently from the market as a<br />whole and other types of stocks and can continue to be undervalued by the market<br />for long periods of time. The Adviser may be incorrect when it decides that a<br />stock is undervalued by the market.<br />&#xA0;&#xA0;<br />Portfolio Selection Risk. The value of your investment may decrease if the<br />Adviser's judgment about the attractiveness, value of, or market trends<br />affecting a particular security, industry or sector, country or region, or <br />about market movements, is incorrect.<br />&#xA0;&#xA0;<br />Risks of Foreign Investments. Investing in foreign securities involves special<br />risks that can increase the potential for losses. These risks may include<br />nationalization or expropriation of assets, illiquid foreign securities markets,<br />confiscatory taxation, foreign withholding taxes, imposition of currency<br />controls or restrictions, natural disasters and political, economic or social<br />instability. Because many foreign markets are smaller, less liquid and more<br />volatile, the Fund may not be able to sell portfolio securities at times, in<br />amounts and at prices it considers reasonable. In some foreign countries, less<br />information is available about issuers and markets. Foreign markets may offer<br />less protection to investors. Foreign stocks can fluctuate more widely in price<br />than comparable U.S. stocks, and they may also be less liquid. Currency<br />fluctuations could erase investment gains or add to investment losses.<br />&#xA0;&#xA0;<br />Focus Risk. To the extent that the Fund invests in a smaller number of issuers<br />or emphasizes investments in particular industries or market sectors, the Fund<br />will be subject to a greater degree to any market price movements, regulatory or<br />technological changes, economic conditions or other developments affecting those<br />issuers or companies in those industries or market sectors.<br />&#xA0;&#xA0;<br />Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur additional <br />operating expenses, which would reduce performance, and could cause shareowners to <br />incur a higher level of taxable income or capital gains.<br />&#xA0;&#xA0;<br />Expense Risk. Your actual costs of investing in the Fund may be higher than the<br />expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For<br />example, expense ratios may be higher than those shown if overall net assets<br />decrease. Net assets are more likely to decrease and Fund expense ratios are<br />more likely to increase when markets are volatile.<br />&#xA0;&#xA0;<br />These and other risks are discussed in more detail later in this prospectus or<br />in the statement of additional information.<br />&#xA0;&#xA0;<br />An investment in the Fund is not a bank deposit and is not insured or guaranteed<br />by the Federal Deposit Insurance Corporation or any other government agency.</tt> FEES AND EXPENSES After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary. PRINCIPAL INVESTMENT STRATEGIES www.crmfunds.com/performance_daily.aspx <tt>The bar chart and the average annual total return table below illustrate <br />the risks and volatility of an investment in the Fund. The bar chart shows <br />changes in the Fund's performance from calendar year to calendar year for <br />Institutional Shares. The table shows how the Fund's average annual total <br />returns for one year, five years and since inception, both before and after <br />taxes, compare with those of the Russell 1000 Value Index and the Russell <br />1000 Index, two broad-based measures of market performance. Total returns <br />would have been lower had certain fees and expenses not been waived. The <br />Fund makes updated performance information available at the Fund's website,<br />www.crmfunds.com/performance_daily.aspx, or at the following telephone number:<br />800-CRM-2883. Of course, the Fund's past performance, both before and after<br />taxes, does not necessarily indicate how the Fund will perform in the future.</tt> <tt>This table sets forth the fees and expenses that you may pay if you buy and hold<br />shares of the Fund.</tt> <div style="display:none">~ http://www.crmfunds.com/role/OperatingExpensesData_S000002555Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/PerformanceTableData_S000002555Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Russell 1000 Index (reflects no deduction for fees, expenses or taxes) 0.0150 -0.0002 0.0240 2005-12-01 Russell 1000 Value Index (reflects no deduction for fees, expenses or taxes) 0.0039 -0.0264 0.0121 2005-12-01 After Taxes on Distributions and Sale of Shares -0.0178 -0.0124 0.0116 2005-12-01 After Taxes on Distributions -0.0297 -0.0171 0.0113 2005-12-01 CRMGX Before Taxes 0.0025 118 407 -0.0018 1597 717 -0.0291 0.0058 0.0075 2013-11-01 -0.0151 0.0033 0.00 0.0116 0.0134 0.0128 2005-12-01 0.0001 CRIGX Worst Quarter During the Period Covered in the Bar Chart Best Quarter During the Period Covered in the Bar Chart 2012-09-30 Before Taxes 0.0000 93 2009-06-30 331 -0.2018 -0.0019 0.1098 1323 588 0.0780 0.1415 -0.0273 0.0034 -0.3416 0.0075 2013-11-01 2008-12-31 0.2242 -0.0128 Calendar YTD Total Return 0.0034 -0.0273 0.00 0.0091 0.0110 0.1694 0.0153 2005-12-01 0.1645 0.0001 <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 Fund's portfolio turnover rate was 96%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.crmfunds.com/role/ExpenseExample_S000001325Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/BarChartData_S000001325Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>CRM Small/Mid Cap Value Fund seeks long-term capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example below shows what<br />you would pay if you invested $10,000 over the various time periods indicated.<br />The Example assumes that you reinvested all dividends and other distributions;<br />the average annual return was 5%; the Fund's total operating expenses are<br />charged and remain the same over the time periods; and you redeemed all of your<br />investment at the end of each time period.<br /><br />Although your actual costs may be higher or lower based on these assumptions,<br />your costs would be:</tt> reflects no deduction for fees, expenses or taxes <tt>The Fund, under normal circumstances, invests at least 80% of its assets in<br />equity and equity related securities of U.S. and non-U.S. companies with market<br />capitalizations at the time of initial purchase within the range of those in <br />the Russell 2500 Value Index or in the S&amp;P Mid Cap 400 Value Index (together,<br />"small/mid cap companies") that are publicly traded on a U.S. securities market.<br />The market capitalization ranges of the Indices change constantly, and as a<br />result, the capitalization of small/mid cap companies in which the Fund will<br />invest will also change. As of September 30, 2012, the market capitalization<br />range of the Russell 2500 Value Index was approximately $45 million to $8.5 <br />billion, and the market capitalization range of the S&amp;P Mid Cap 400 Value<br />Index was approximately $237 million to $14.7 billion. For purposes of the 80%<br />investment policy, equity and equity related securities include: common and<br />preferred stocks, securities convertible into common stock, and warrants on<br />common stock.<br /> <br />The Adviser evaluates investment opportunities for the Fund using a proprietary<br />value-oriented process that seeks to identify companies characterized by three<br />attributes: change, neglect and relative valuation. The Adviser seeks to identify <br />those changes that are material to a company's operations, outlook and prospects <br />while also identifying companies that it believes have been neglected by other <br />investors. The Adviser utilizes a primarily qualitative research process focused <br />on these attributes to identify and invest in relatively undervalued companies. <br />These factors formulate the Adviser's investment case for each company under <br />consideration for investment. An important function of the Adviser's investment <br />process is to set a price target at which the security will be sold, provided <br />that there has been no fundamental change in the investment case. The Adviser <br />monitors each security held by the Fund to determine if the security continues <br />to act in accordance with the Adviser's initial assessment. Ordinarily, once <br />the Adviser believes that an investment case has realized its anticipated <br />prospects, the security will be sold. Additionally, the security would typically <br />be sold if the identified change does not have the expected impact on earnings <br />and cash flow of the company or a company's fundamentals deteriorate, or due to <br />other market conditions that would cause the Adviser to believe a sale would be <br />advisable.</tt> SMALL/MID CAP VALUE FUND Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. 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 Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future. It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund buys will increase in value. PRINCIPAL INVESTMENT RISKS 0.96 Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. ANNUAL TOTAL RETURNS FOR THE INSITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31 PERFORMANCE INFORMATION <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 taxes. <br />Actual after-tax returns will depend on your tax situation, may differ from those <br />shown and are not relevant if you hold your shares through tax-deferred arrangements, <br />such as 401(k) plans or individual retirement accounts. After-tax returns are shown <br />only for Institutional Shares. After-tax returns for Investor Shares will vary.</tt> The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one year, five years and since inception, both before and after taxes, compare with those of the Russell 2500 Value Index and the Russell 2500 Index, two broad based measures of market performance. <tt>Calendar YTD Total Return as of September 30, 2012: 14.12%<br /><br />&#xA0;&#xA0;&#xA0;Best Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Worst Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;15.75%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(22.70)%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />For the quarter ended December 31, 2010&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;For the quarter ended September 30, 2011</tt> 800-CRM-2883 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns as of December 31, 2011 PORTFOLIO TURNOVER <tt>It is possible to lose money by investing in the Fund. There is no guarantee<br />that the stock market or the stocks the Fund buys will increase in value. The<br />following is a summary description of certain risks of investing in the Fund.<br /><br />Market Risk. Stock markets are volatile and can decline significantly in<br />response to adverse issuer, regulatory, market or economic developments.<br />Different parts of the U.S. market and different markets around the world can<br />react differently to these developments. When market prices fall, the value of<br />your investment will go down. The financial crisis that began in 2008 has caused<br />a significant decline in the value and liquidity of many securities of issuers<br />worldwide. Some governmental and non-governmental issuers (notably in Europe)<br />have defaulted on, or been forced to restructure, their debts, and many other<br />issuers have faced difficulties obtaining credit. These market conditions may<br />continue, worsen or spread, including in the U.S., Europe and beyond. Further<br />defaults or restructurings by governments and others of their debt could have<br />additional adverse effects on economies, financial markets and asset valuations<br />around the world. Whether or not the Fund invests in securities of issuers<br />located in or with significant exposure to countries experiencing economic and<br />financial difficulties, these events could negatively affect the value and<br />liquidity of the Fund's investments. The Fund may experience a substantial or<br />complete loss on any individual security. In addition, legislation recently<br />enacted in the U.S. calls for changes in many aspects of financial regulation.<br />The impact of the legislation on the markets, and the practical implications for<br />market participants, may not be fully known for some time.<br /><br />Company Risk. The value of an individual security or particular type of security<br />can be more volatile than the market as a whole and can perform differently from<br />the market as a whole. This may result from a wide variety of factors that affect <br />particular companies or industries, including changes in market demand for <br />particular goods and services, increases in costs of supply, changes in <br />management, increased competition and changes in regulatory environment.<br /> <br />Value Investing Risk. Value stocks can perform differently from the market as a<br />whole and other types of stocks and can continue to be undervalued by the market<br />for long periods of time. The Adviser may be incorrect when it decides that a<br />stock is undervalued by the market.<br /><br />Portfolio Selection Risk. The value of your investment may decrease if the <br />Adviser's judgment about the attractiveness, value of, or market trends affecting <br />a particular security, industry or sector, country or region, or about market <br />movements, is incorrect.<br /><br />Risks of Small and Mid Cap Companies. Compared to mutual funds that focus<br />exclusively on large capitalization companies, the Fund may be more volatile<br />because it invests in small and/or mid capitalization companies. Small and mid<br />capitalization companies are more likely to have more limited product lines,<br />fewer capital resources and less depth of management than larger companies.<br />Securities of smaller companies may have limited liquidity and may be difficult<br />to value or to sell at an advantageous time or without a substantial drop in<br />price.<br /><br />Risks of Foreign Investments. Investing in foreign securities involves special<br />risks that can increase the potential for losses. These risks may include<br />nationalization or expropriation of assets, illiquid foreign securities markets,<br />confiscatory taxation, foreign withholding taxes, imposition of currency<br />controls or restrictions, natural disasters and political, economic or social<br />instability. Because many foreign markets are smaller, less liquid and more<br />volatile, the Fund may not be able to sell portfolio securities at times, in<br />amounts and at prices it considers reasonable. In some foreign countries, less<br />information is available about issuers and markets. Foreign markets may offer<br />less protection to investors. Foreign stocks can fluctuate more widely in price<br />than comparable U.S. stocks, and they may also be less liquid. Currency<br />fluctuations could erase investment gains or add to investment losses.<br /><br />Focus Risk. To the extent that the Fund invests in a smaller number of issuers<br />or emphasizes investments in particular industries or market sectors, the Fund<br />will be subject to a greater degree to any market price movements, regulatory or<br />technological changes, economic conditions or other developments affecting those<br />issuers or companies in those industries or market sectors.<br /><br />Portfolio Turnover Risk.If the Fund does a lot of trading, it may incur additional <br />operating expenses, which would reduce performance, and could cause shareowners to <br />incur a higher level of taxable income or capital gains.<br /><br />Expense Risk. Your actual costs of investing in the Fund may be higher than the<br />expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For<br />example, expense ratios may be higher than those shown if overall net assets<br />decrease. Net assets are more likely to decrease and Fund expense ratios are<br />more likely to increase when markets are volatile.<br /><br />These and other risks are discussed in more detail later in this prospectus or<br />in the statement of additional information.<br /><br />An investment in the Fund is not a bank deposit and is not insured or guaranteed<br />by the Federal Deposit Insurance Corporation or any other government agency.</tt> FEES AND EXPENSES After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary. PRINCIPAL INVESTMENT STRATEGIES www.crmfunds.com/performance_daily.aspx <tt>The bar chart and the average annual total return table below illustrate the risks <br />and volatility of an investment in the Fund. The bar chart shows changes in the <br />Fund's performance from calendar year to calendar year for Institutional Shares. <br />The table shows how the Fund's average annual total returns for one year, five <br />years and since inception, both before and after taxes, compare with those of the <br />Russell 2500 Value Index and the Russell 2500 Index, two broad based measures of <br />market performance. This performance information includes performance of the Fund's <br />predecessor, the CRM Small/Mid Cap Value Fund (a series of WT Mutual Fund) for <br />periods from September 1, 2004 (commencement of operations) through September 30, <br />2005. Total returns would have been lower had certain fees and expenses not been <br />waived. The Fund makes updated performance information available at the Fund's <br />website, www.crmfunds.com/performance_daily.aspx, or at the following telephone <br />number: 800-CRM-2883. Of course, the Fund's past performance, both before and <br />after taxes, does not necessarily indicate how the Fund will perform in the future.</tt> <tt>This table sets forth the fees and expenses that you may pay if you buy and hold<br />shares of the Fund.</tt> <div style="display:none">~ http://www.crmfunds.com/role/OperatingExpensesData_S000001325Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/PerformanceTableData_S000001325Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Russell 2500 Index (reflects no deduction for fees, expenses or taxes) -0.0251 0.0124 0.0647 2004-09-01 Russell 2500 Value Index (reflects no deduction for fees, expenses or taxes) -0.0336 -0.0058 0.0544 2004-09-01 After Taxes on Distributions and Sale of Shares -0.0224 0.0167 0.0595 2004-09-01 After Taxes on Distributions -0.0678 0.0152 0.0639 2004-09-01 CRMAX Before Taxes 0.0025 111 347 1329 601 -0.0538 0.0033 0.0075 0.0197 0.0008 0.00 0.0109 0.0688 2004-09-01 0.0001 CRIAX Worst Quarter During the Period Covered in the Bar Chart Best Quarter During the Period Covered in the Bar Chart 2012-09-30 Before Taxes 0.0000 90 2010-12-31 281 -0.2270 0.2401 1084 488 0.0849 0.1575 -0.0520 0.0012 -0.3136 0.0075 2011-09-30 0.2749 0.0222 0.0676 YTD Total Return 0.0012 -0.0520 0.00 0.0088 0.1935 0.0714 2004-09-01 0.1412 0.0001 <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 Fund's portfolio turnover rate was 103%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.crmfunds.com/role/ExpenseExample_S000001323Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/BarChartData_S000001323Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>CRM Small Cap Value Fund seeks long-term capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example below shows what<br />you would pay if you invested $10,000 over the various time periods indicated.<br />The Example assumes that you reinvested all dividends and other distributions;<br />the average annual return was 5%; the Fund's total operating expenses are<br />charged and remain the same over the time periods; and you redeemed all of your<br />investment at the end of each time period.<br /><br />Although your actual costs may be higher or lower based on these assumptions,<br />your costs would be:</tt> reflects no deduction for fees, expenses or taxes <tt>The Fund, under normal circumstances, invests at least 80% of its assets in<br />equity and equity related securities of U.S. and non-U.S. companies with market<br />capitalizations at the time of initial purchase within the range of those in the<br />Russell 2000 Value Index ("small cap companies") that are publicly traded on a<br />U.S. securities market. The market capitalization range of the Index changes<br />constantly, and as a result, the capitalization of small cap companies in which<br />the Fund will invest will also change. As of September 30, 2012, the market<br />capitalization range of the Index was approximately $45 million to $3.8 billion.<br />For purposes of the 80% investment policy, equity and equity related securities<br />include: common and preferred stocks, securities convertible into common stock,<br />and warrants on common stock.<br /><br />The Adviser evaluates investment opportunities for the Fund using a proprietary<br />value-oriented process that seeks to identify companies characterized by three<br />attributes: change, neglect and relative valuation. The Adviser seeks to<br />identify those changes that are material to a company's operations, outlook and<br />prospects while also identifying companies that it believes have been neglected <br />by other investors. The Adviser utilizes a primarily qualitative research process <br />focused on these attributes to identify and invest in relatively undervalued <br />companies. These factors formulate the Adviser's investment case for each company <br />under consideration for investment. An important function of the Adviser's <br />investment process is to set a price target at which the security will be sold, <br />provided that there has been no fundamental change in the investment case. The <br />Adviser monitors each security held by the Fund to determine if the security <br />continues to act in accordance with the Adviser's initial assessment. Ordinarily, <br />once the Adviser believes that an investment case has realized its anticipated <br />prospects, the security will be sold. Additionally, the security would typically <br />be sold if the identified change does not have the expected impact on earnings <br />and cash flow of the company, the company's fundamentals deteriorate, or due to <br />other market conditions that would cause the Adviser to believe a sale would be <br />advisable.</tt> CRM SMALL CAP VALUE FUND Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. 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 Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future. It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund holds will increase in value. PRINCIPAL INVESTMENT RISKS 1.03 Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31 PERFORMANCE INFORMATION <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 taxes. <br />Actual after-tax returns will depend on your tax situation, may differ from those <br />shown and are not relevant if you hold your shares through tax-deferred arrangements, <br />such as 401(k) plans or individual retirement accounts. After-tax returns are shown <br />only for Institutional Shares. After-tax returns for Investor Shares will vary.</tt> The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one, five and ten years, both before and after taxes, compare with those of the Russell 2000 Value Index and the Russell 2000 Index, two broad based measures of market performance. <tt>Calendar YTD Total Return as of September 30, 2012: 13.16%<br /><br />&#xA0;&#xA0;Best Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Worst Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;27.38%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(24.58)%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />For the quarter ended June 30, 2003&#xA0;&#xA0;&#xA0;For the quarter ended September 30, 2011</tt> 800-CRM-2883 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns as of December 31, 2011 PORTFOLIO TURNOVER <tt>It is possible to lose money by investing in the Fund. There is no guarantee<br />that the stock market or the stocks the Fund holds will increase in value. The<br />following is a summary description of certain risks of investing in the Fund.<br /><br />Market Risk. Stock markets are volatile and can decline significantly in<br />response to adverse issuer, regulatory, market or economic developments.<br />Different parts of the U.S. market and different markets around the world can<br />react differently to these developments. When market prices fall, the value of<br />your investment will go down. The financial crisis that began in 2008 has caused<br />a significant decline in the value and liquidity of many securities of issuers<br />worldwide. Some governmental and non-governmental issuers (notably in Europe)<br />have defaulted on, or been forced to restructure, their debts, and many other<br />issuers have faced difficulties obtaining credit. These market conditions may<br />continue, worsen or spread, including in the U.S., Europe and beyond. Further<br />defaults or restructurings by governments and others of their debt could have<br />additional adverse effects on economies, financial markets and asset valuations<br />around the world. Whether or not the Fund invests in securities of issuers<br />located in or with significant exposure to countries experiencing economic and<br />financial difficulties, these events could negatively affect the value and<br />liquidity of the Fund's investments. The Fund may experience a substantial or<br />complete loss on any individual security. In addition, legislation recently<br />enacted in the U.S. calls for changes in many aspects of financial regulation.<br />The impact of the legislation on the markets, and the practical implications for<br />market participants, may not be fully known for some time.<br /><br />Company Risk. The value of an individual security or particular type of security<br />can be more volatile than the market as a whole and can perform differently from<br />the market as a whole. This may result from a wide variety of factors that<br />affect particular companies or industries, including changes in market demand<br />for particular goods and services, increases in costs of supply, changes in<br />management, increased competition and changes in regulatory environment.<br /><br />Value Investing Risk. Value stocks can perform differently from the market as a<br />whole and other types of stocks and can continue to be undervalued by the market<br />for long periods of time. The Adviser may be incorrect when it decides that a<br />stock is undervalued by the market.<br /><br />Portfolio Selection Risk. The value of your investment may decrease if the<br />Adviser's judgment about the attractiveness, value of, or market trends affecting <br />a particular security, industry or sector, country or region, or about market <br />movements, is incorrect.<br /><br />Risks of Small Cap Companies. Compared to mutual funds that focus exclusively on<br />large capitalization companies, the Fund may be more volatile because it invests<br />in small capitalization companies. Small capitalization companies are more likely <br />to have more limited product lines, fewer capital resources and less depth of <br />management than larger companies. Securities of smaller companies may have <br />limited liquidity and may be difficult to value or to sell at an advantageous <br />time or without a substantial drop in price.<br /><br />Risks of Foreign Investments. Investing in foreign securities involves special<br />risks that can increase the potential for losses. These risks may include<br />nationalization or expropriation of assets, illiquid foreign securities markets,<br />confiscatory taxation, foreign withholding taxes, imposition of currency<br />controls or restrictions, natural disasters and political, economic or social<br />instability. Because many foreign markets are smaller, less liquid and more<br />volatile, the Fund may not be able to sell portfolio securities at times, in<br />amounts and at prices it considers reasonable. In some foreign countries, less<br />information is available about issuers and markets. Foreign markets may offer<br />less protection to investors. Foreign stocks can fluctuate more widely in price<br />than comparable U.S. stocks, and they may also be less liquid. Currency<br />fluctuations could erase investment gains or add to investment losses.<br /><br />Focus Risk. To the extent that the Fund invests in a smaller number of issuers<br />or emphasizes investments in particular industries or market sectors, the Fund<br />will be subject to a greater degree to any market price movements, regulatory or<br />technological change, economic conditions or other developments affecting those<br />issuers or companies in those industries or market sectors.<br /><br />Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur<br />additional operating expenses, which would reduce performance, and could cause<br />shareowners to incur a higher level of taxable income or capital gains.<br /><br />Expense Risk. Your actual costs of investing in the Fund may be higher than the<br />expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For<br />example, expense ratios may be higher than those shown if overall net assets<br />decrease. Net assets are more likely to decrease and Fund expense ratios are<br />more likely to increase when markets are volatile.<br /><br />These and other risks are discussed in more detail later in this prospectus or<br />in the statement of additional information.<br /><br />An investment in the Fund is not a bank deposit and is not insured or guaranteed<br />by the Federal Deposit Insurance Corporation or any other government agency.</tt> FEES AND EXPENSES After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary. PRINCIPAL INVESTMENT STRATEGIES www.crmfunds.com/performance_daily.aspx <tt>The bar chart and the average annual total return table below illustrate <br />the risks and volatility of an investment in the Fund. The bar chart shows <br />changes in the Fund's performance from calendar year to calendar year for <br />Institutional Shares. The table shows how the Fund's average annual total <br />returns for one, five and ten years, both before and after taxes, compare <br />with those of the Russell 2000 Value Index and the Russell 2000 Index, two <br />broad based measures of market performance. This performance information <br />includes performance of the Fund's predecessor, the CRM Small Cap Value Fund <br />(a series of WT Mutual Fund), for periods from January 1, 2002 through September<br />30, 2005. The Fund makes updated performance information available at the Fund's <br />website, www.crmfunds.com/performance_daily.aspx, or at the following telephone <br />number: 800-CRM-2883. Of course, the Fund's past performance, both before and <br />after taxes, does not necessarily indicate how the Fund will perform in the <br />future.</tt> <tt>This table sets forth the fees and expenses that you may pay if you buy and hold<br />shares of the Fund.</tt> <div style="display:none">~ http://www.crmfunds.com/role/OperatingExpensesData_S000001323Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/PerformanceTableData_S000001323Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Russell 2000 Index (reflects no deduction for fees, expenses or taxes) -0.0418 0.0015 0.0562 Russell 2000 Value Index (reflects no deduction for fees, expenses or taxes) -0.0550 -0.0187 0.0640 After Taxes on Distributions and Sale of Shares -0.0607 -0.0066 0.0482 After Taxes on Distributions -0.1552 -0.0171 0.0452 CRMSX Before Taxes 0.0025 111 347 1329 601 -0.1348 0.0033 0.0075 -0.0078 0.0008 0.00 0.0572 0.0109 0.0001 CRISX -0.1760 Worst Quarter During the Period Covered in the Bar Chart Best Quarter During the Period Covered in the Bar Chart 2012-09-30 Before Taxes 0.0000 88 2003-06-30 274 -0.2458 0.1811 0.2864 1061 477 -0.0312 0.2738 -0.1328 0.0010 -0.3044 0.0075 2011-09-30 0.2944 -0.0054 0.1064 YTD Total Return 0.0010 -0.1328 0.4869 0.00 0.0598 0.0086 0.1475 0.1316 0.0001 <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 Fund's portfolio turnover rate was 105%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.crmfunds.com/role/ExpenseExample_S000001322Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/BarChartData_S000001322Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>CRM Mid Cap Value Fund seeks long-term capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example below shows what<br />you would pay if you invested $10,000 over the various time periods indicated.<br />The Example assumes that you reinvested all dividends and other distributions;<br />the average annual return was 5%; the Fund's total operating expenses are<br />charged and remain the same over the time periods; and you redeemed all of your<br />investment at the end of each time period.<br /><br />Although your actual costs may be higher or lower based on these assumptions,<br />your costs would be:</tt> reflects no deduction for fees, expenses or taxes <tt>The Fund, under normal circumstances, invests at least 80% of its assets in<br />equity and equity related securities of U.S. and non-U.S. companies with market<br />capitalizations at the time of initial purchase within the range of those in <br />the Russell Midcap Value Index ("mid cap companies") that are publicly traded <br />on a U.S. securities market. The market capitalization range of the Index <br />changes constantly, and as a result, the capitalization of mid cap companies <br />in which the Fund will invest will also change. As of September 30, 2012, the <br />market capitalization range of the Index was approximately $300 million to <br />$18.7 billion. For purposes of the 80% investment policy, equity and equity<br />related securities include: common and preferred stocks, securities convertible<br />into common stock, and warrants on common stock.<br /><br />The Adviser evaluates investment opportunities for the Fund using a proprietary<br />value-oriented process that seeks to identify companies characterized by three<br />attributes: change, neglect and relative valuation. The Adviser seeks to<br />identify those changes that are material to a company's operations, outlook and<br />prospects while also identifying companies that it believes have been neglected <br />by other investors. The Adviser utilizes a primarily qualitative research process <br />focused on these attributes to identify and invest in relatively undervalued <br />companies. These factors formulate the Adviser's investment case for each company <br />under consideration for investment. An important function of the Adviser's <br />investment process is to set a price target at which the security will be sold, <br />provided that there has been no fundamental change in the investment case. The <br />Adviser monitors each security held by the Fund to determine if the security <br />continues to act in accordance with the Adviser's initial assessment. Ordinarily, <br />once the Adviser believes that an investment case has realized its anticipated <br />prospects, the security will be sold. Additionally, the security would typically <br />be sold if the identified change does not have the expected impact on earnings and <br />cash flow of the company or a company's fundamentals deteriorate, or due to other <br />market conditions that would cause the Adviser to believe a sale would be advisable.</tt> CRM MID CAP VALUE FUND Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. 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 Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future. It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund buys will increase in value. PRINCIPAL INVESTMENT RISKS 1.05 Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31 PERFORMANCE INFORMATION <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 taxes. <br />Actual after-tax returns will depend on your tax situation, may differ from those <br />shown and are not relevant if you hold your shares through tax-deferred arrangements, <br />such as 401(k) plans or individual retirement accounts. After-tax returns are shown <br />only for Institutional Shares. After-tax returns for Investor Shares will vary.</tt> The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one, five and ten years, both before and after taxes, compare with those of the Russell Midcap Value Index and the Russell Midcap Index, two broad based measures of market performance. <tt>Calendar YTD Total Return as of September 30, 2012: 13.60%<br /><br />&#xA0;&#xA0;&#xA0;&#xA0;Best Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Worst Quarter During the Period&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Covered in the Bar Chart&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;18.00%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(22.24)%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />For the quarter ended June 30, 2003&#xA0;&#xA0;&#xA0;For the quarter ended December 31, 2008</tt> 800-CRM-2883 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns as of December 31, 2011 PORTFOLIO TURNOVER <tt>It is possible to lose money by investing in the Fund. There is no guarantee<br />that the stock market or the stocks the Fund buys will increase in value. The<br />following is a summary description of certain risks of investing in the Fund.<br /><br />Market Risk. Stock markets are volatile and can decline significantly in<br />response to adverse issuer, regulatory, market or economic developments.<br />Different parts of the U.S. market and different markets around the world can<br />react differently to these developments. When market prices fall, the value of<br />your investment will go down. The financial crisis that began in 2008 has caused<br />a significant decline in the value and liquidity of many securities of issuers<br />worldwide. Some governmental and non-governmental issuers (notably in Europe)<br />have defaulted on, or been forced to restructure, their debts, and many other<br />issuers have faced difficulties obtaining credit. These market conditions may<br />continue, worsen or spread, including in the U.S., Europe and beyond. Further<br />defaults or restructurings by governments and others of their debt could have<br />additional adverse effects on economies, financial markets and asset valuations<br />around the world. Whether or not the Fund invests in securities of issuers<br />located in or with significant exposure to countries experiencing economic and<br />financial difficulties, these events could negatively affect the value and<br />liquidity of the Fund's investments. The Fund may experience a substantial or<br />complete loss on any individual security. In addition, legislation recently<br />enacted in the U.S. calls for changes in many aspects of financial regulation.<br />The impact of the legislation on the markets, and the practical implications for<br />market participants, may not be fully known for some time.<br /><br />Company Risk. The value of an individual security or particular type of security<br />can be more volatile than the market as a whole and can perform differently from<br />the market as a whole. This may result from a wide variety of factors that<br />affect particular companies or industries, including changes in market demand<br />for particular goods and services, increases in costs of supply, changes in<br />management, increased competition and changes in regulatory environment.<br /><br />Value Investing Risk. Value stocks can perform differently from the market as a<br />whole and other types of stocks and can continue to be undervalued by the market<br />for long periods of time. The Adviser may be incorrect when it decides that a<br />stock is undervalued by the market.<br /><br />Portfolio Selection Risk. The value of your investment may decrease if the<br />Adviser's judgment about the attractiveness, value of, or market trends affecting <br />a particular security, industry or sector, country or region, or about market <br />movements, is incorrect.<br /><br />Risks of Mid Cap Companies. Compared to mutual funds that focus exclusively on<br />large capitalization companies, the Fund may be more volatile because it invests<br />in mid capitalization companies. Mid capitalization companies are more likely to<br />have more limited product lines, fewer capital resources and less depth of<br />management than larger companies.<br /><br />Risks of Foreign Investments. Investing in foreign securities involves special<br />risks that can increase the potential for losses. These risks may include<br />nationalization or expropriation of assets, illiquid foreign securities markets,<br />confiscatory taxation, foreign withholding taxes, imposition of currency<br />controls or restrictions, natural disasters and political, economic or social<br />instability. Because many foreign markets are smaller, less liquid and more<br />volatile, the Fund may not be able to sell portfolio securities at times, in<br />amounts and at prices it considers reasonable. In some foreign countries, less<br />information is available about issuers and markets. Foreign markets may offer<br />less protection to investors. Foreign stocks can fluctuate more widely in price<br />than comparable U.S. stocks, and they may also be less liquid. Currency<br />fluctuations could erase investment gains or add to investment losses.<br /><br />Focus Risk. To the extent that the Fund invests in a smaller number of issuers<br />or emphasizes investments in particular industries or market sectors, the Fund<br />will be subject to a greater degree to any market price movements, regulatory or<br />technological changes, economic conditions or other developments affecting those<br />issuers or companies in those industries or market sectors.<br /><br />Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur additional <br />operating expenses, which would reduce performance, and could cause shareowners to <br />incur a higher level of taxable income or capital gains.<br /><br />Expense Risk. Your actual costs of investing in the Fund may be higher than the<br />expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For<br />example, expense ratios may be higher than those shown if overall net assets<br />decrease. Net assets are more likely to decrease and Fund expense ratios are<br />more likely to increase when markets are volatile.<br /><br />These and other risks are discussed in more detail later in this prospectus or<br />in the statement of additional information.<br /><br />An investment in the Fund is not a bank deposit and is not insured or guaranteed<br />by the Federal Deposit Insurance Corporation or any other government agency.</tt> FEES AND EXPENSES After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary. PRINCIPAL INVESTMENT STRATEGIES www.crmfunds.com/performance_daily.aspx <tt>The bar chart and the average annual total return table below illustrate the<br />risks and volatility of an investment in the Fund. The bar chart shows changes<br />in the Fund's performance from calendar year to calendar year for Institutional<br />Shares. The table shows how the Fund's average annual total returns for one,<br />five and ten years, both before and after taxes, compare with those of the<br />Russell Midcap Value Index and the Russell Midcap Index, two broad based<br />measures of market performance. This performance information includes<br />performance of the Fund's predecessor, the CRM Mid Cap Value Fund (a series of<br />WT Mutual Fund), for periods from January 1, 2002 through September 30, 2005.<br />The Fund makes updated performance information available at the Fund's website,<br />www.crmfunds.com/performance_daily.aspx, or at the following telephone number:<br />800-CRM-2883. Of course, the Fund's past performance, both before and after<br />taxes, does not necessarily indicate how the Fund will perform in the future.</tt> <tt>This table sets forth the fees and expenses that you may pay if you buy and hold<br />shares of the Fund.</tt> <div style="display:none">~ http://www.crmfunds.com/role/OperatingExpensesData_S000001322Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.crmfunds.com/role/PerformanceTableData_S000001322Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Russell Midcap Index (reflects no deduction for fees, expenses or taxes) -0.0155 0.0141 0.0699 Russell Midcap Value Index (reflects no deduction for fees, expenses or taxes) -0.0138 0.0004 0.0767 After Taxes on Distributions and Sale of Shares -0.0452 0.0014 0.0565 After Taxes on Distributions -0.0720 -0.0021 0.0603 CRMMX Before Taxes 0.0025 105 328 1259 569 -0.0713 0.0033 0.0069 0.0021 0.0008 0.00 0.0644 0.0103 0.0001 CRIMX -0.1667 Worst Quarter During the Period Covered in the Bar Chart Best Quarter During the Period Covered in the Bar Chart 2012-09-30 Before Taxes 0.0000 84 2003-06-30 262 -0.2224 0.2498 0.1888 1014 455 0.1043 0.1800 -0.0694 0.0012 -0.3503 0.0069 2008-12-31 0.2865 0.0042 0.0796 YTD Total Return 0.0012 -0.0694 0.4192 0.00 0.0669 0.0082 0.1726 0.1360 0.0001 0001322252 ck0001322252:SummaryS000001322Memberck0001322252:S000001322Memberck0001322252:C000003538Member 2012-10-26 2012-10-26 0001322252 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CRM International Opportunity Fund (Prospectus Summary) | CRM International Opportunity Fund
CRM INTERNATIONAL OPPORTUNITY FUND
INVESTMENT OBJECTIVE
CRM International Opportunity Fund seeks long-term capital appreciation.
FEES AND EXPENSES
This table sets forth 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)
Shareholder Fees CRM International Opportunity Fund
Investor Shares
Institutional Shares
Redemption Fee on Shares Held Less Than 30 Days (as a percentage of amount redeemed, if applicable) 1.50% 1.50%
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses CRM International Opportunity Fund
Investor Shares
Institutional Shares
Management Fees 0.90% 0.90%
Distribution (12b-1) Fees none none
Shareholder Servicing Fee 0.25% none
Other Miscellaneous Expenses 1.79% 1.94%
Total Other Expenses 2.04% 1.94%
Acquired Fund Fees and Expenses 0.01% 0.01%
Total Annual Fund Operating Expenses [1][2] 2.95% 2.85%
Fee Waiver and Expense Reimbursement [2] (1.44%) (1.59%)
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement [1][2] 1.51% 1.26%
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
[2] The Adviser has a contractual obligation to waive a portion of its fees and to assume certain expenses of the Fund to the extent that the total annual fund operating expenses, excluding taxes, extraordinary expenses, brokerage commissions, interest and acquired fund fees and expenses, exceed 1.50% and 1.25% of average daily net assets of Investor Shares and Institutional Shares, respectively. These expense limitations are in effect until November 1, 2013. Prior to that date, the arrangement may be terminated for a class only by the vote of the Board of Trustees of the Fund.
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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses
(reflecting applicable contractual fee waivers and expense reimbursement
arrangements) are charged and remain the same over the time periods; and you
redeemed all of your investment at the end of each time period.

Although your actual costs may be higher or lower based on these assumptions,
your costs would be:
Expense Example CRM International Opportunity Fund (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Investor Shares
154 777 1,426 3,168
Institutional Shares
128 732 1,363 3,061
PORTFOLIO TURNOVER
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 220%
of the average value of its portfolio.
PRINCIPAL INVESTMENT STRATEGIES
The Fund, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of foreign companies. The Fund normally
invests in the securities of companies that are tied economically to at least
10 countries, other than the U.S. The Fund may invest in companies located in
developed and emerging markets. Emerging markets include countries that have
an emerging stock market as defined by Standard & Poor's, Inc., countries or
markets with low- to- middle-income economies as classified by the World Bank,
and other countries or markets with similar emerging characteristics. The Fund
may invest in companies of any size. For purposes of the 80% investment policy,
equity and equity related securities include: common and preferred stocks,
securities convertible into common stock, and warrants on common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to identify
those changes that are material to a company's operations, outlook and prospects
while also identifying companies that it believes have been neglected by other
investors. The Adviser utilizes a primarily qualitative research process focused
on these attributes to identify and invest in relatively undervalued companies.
These factors formulate the Adviser's investment case for each company under
consideration for investment. An important function of the Adviser's investment
process is to set a price target at which the security will be sold, provided
that there has been no fundamental change in the investment case. The Adviser
monitors each security held by the Fund to determine if the security continues
to act in accordance with the Adviser's initial assessment. Ordinarily, once the
Adviser believes that an investment case has realized its anticipated prospects,
the security will be sold. Additionally, the security would typically be sold if
the identified change does not have the expected impact on earnings and cash flow
of the company or a company's fundamentals deteriorate, or due to other market
conditions that would cause the Adviser to believe a sale would be advisable.
PRINCIPAL INVESTMENT RISKS
It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund buys will increase in value. The
following is a summary description of certain risks of investing in the Fund.

Market Risk. Stock markets are volatile and can decline significantly in
response to adverse issuer, regulatory, market or economic developments.
Different parts of the U.S. market and different markets around the world can
react differently to these developments. When market prices fall, the value of
your investment will go down. The financial crisis that began in 2008 has caused
a significant decline in the value and liquidity of many securities of issuers
worldwide. Some governmental and non-governmental issuers (notably in Europe)
have defaulted on, or been forced to restructure, their debts, and many other
issuers have faced difficulties obtaining credit. These market conditions may
continue, worsen or spread, including in the U.S., Europe and beyond. Further
defaults or restructurings by governments and others of their debt could have
additional adverse effects on economies, financial markets and asset valuations
around the world. Whether or not the Fund invests in securities of issuers
located in or with significant exposure to countries experiencing economic and
financial difficulties, these events could negatively affect the value and
liquidity of the Fund's investments. The Fund may experience a substantial or
complete loss on any individual security. In addition, legislation recently
enacted in the U.S. calls for changes in many aspects of financial regulation.
The impact of the legislation on the markets, and the practical implications for
market participants, may not be fully known for some time.

Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that affect
particular companies or industries, including changes in market demand for
particular goods and services, increases in costs of supply, changes in management,
increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.

Portfolio Selection Risk. The value of your investment may decrease if the
Adviser's judgment about the attractiveness, value of, or market trends affecting
a particular security, industry or sector, country or region, or about market
movements, is incorrect.

Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, natural disasters and
political, economic or social instability. Because many foreign markets are
smaller, less liquid and more volatile, the Fund may not be able to sell
portfolio securities at times, in amounts and at prices it considers reasonable.
In some foreign countries, less information is available about issuers and
markets. Foreign markets may offer less protection to investors. Foreign stocks
can fluctuate more widely in price than comparable U.S. stocks, and they may
also be less liquid.

Currency Risk. The Fund generally invests in securities denominated in foreign
currencies, and could experience gains or losses solely on changes in the
exchange rate between foreign currencies and the U.S. dollar. Currency exchange
rates can be volatile, and are affected by factors such as general economic
conditions, the actions of the U.S. and foreign governments or central banks,
and the imposition of currency controls or restrictions and speculation.

Emerging Markets Risk.The risks of investing in foreign securities are generally
greater in emerging markets, or to the extent that the Fund invests significantly
in one region or country. The extent of economic development, political stability,
market depth, infrastructure, capitalization and regulatory oversight can be less
than in more developed markets. The economies of emerging market countries may be
dependent on relatively few industries that are more susceptible to local and
global changes. Emerging market countries may experience rising interest rates,
or, more significantly, rapid inflation or hyperinflation.

Risks of Small and Mid Cap Companies. Compared to mutual funds that focus
exclusively on large capitalization companies, the Fund may be more volatile
because it also invests in small and/or mid capitalization companies. Small and
mid capitalization companies are more likely to have more limited product lines,
fewer capital resources and less depth of management than larger companies.
Securities of smaller companies may have limited liquidity and may be difficult
to value or to sell at an advantageous time or without a substantial drop in
price.

Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological changes, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.

Portfolio Turnover Risk.If the Fund does a lot of trading, it may incur additional
operating expenses, which would reduce performance, and could cause shareowners to
incur a higher level of taxable income or capital gains.

Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.

These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.

An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
PERFORMANCE INFORMATION
The bar chart and the average annual total return table below illustrate the risks
and volatility of an investment in the Fund. The bar chart shows changes in the
Fund's performance from calendar year to calendar year for Institutional Shares.
The table shows how the Fund's average annual total returns for one year and since
inception, both before and after taxes, compare with those of the MSCI EAFE Index,
a broad-based measure of market performance. Total returns would have been lower
had certain fees and expenses not been waived. The Fund makes updated performance
information available at the Fund's website, www.crmfunds.com/performance_daily.aspx,
or at the following telephone number: 800-CRM-2883. Of course, the Fund's past
performance, both before and after taxes, does not necessarily indicate how the
Fund will perform in the future.
ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEAR ENDED DECEMBER 31
Bar Chart
Calendar YTD Total Return as af September 30, 2012: 13.51%

  Best Quarter During the Period          Worst Quarter During the Period     
       Covered in the Bar Chart                 Covered in the Bar Chart        
                                      
                25.82%                                  (25.94)%                
For the quarter ended June 30, 2009   For the quarter ended September 30, 2011
Average Annual Total Returns as of December 31, 2011
Average Annual Total Returns CRM International Opportunity Fund
Label
1 Year
Since Inception
Inception Date
Investor Shares
Before Taxes (18.54%) 13.07% Dec. 31, 2008
Institutional Shares
Before Taxes (18.34%) 13.35% Dec. 31, 2008
Institutional Shares After Taxes on Distributions
After Taxes on Distributions (21.33%) 11.20% Dec. 31, 2008
Institutional Shares After Taxes on Distributions and Sales
After Taxes on Distributions and Sale of Shares (11.10%) 10.59% Dec. 31, 2008
MSCI EAFE Index
MSCI EAFE Index (reflects no deduction for fees, expenses or taxes) (12.14%) 7.65% Dec. 31, 2008
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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.
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Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Oct. 26, 2012
CRM LARGE CAP OPPORTUNITY FUND (Prospectus Summary) | CRM LARGE CAP OPPORTUNITY FUND
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading CRM LARGE CAP OPPORTUNITY FUND
Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock CRM Large Cap Opportunity Fund seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading FEES AND EXPENSES
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table sets forth the fees and expenses that you may pay if you buy and hold
shares of the Fund.
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)
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 126%
of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 126.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading 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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses (reflecting
applicable contractual fee waivers and expense reimbursement arrangements) are
charged and remain the same over the time periods; and you redeemed all of your
investment at the end of each time period.

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, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of U.S. and non-U.S. companies with market
capitalizations at the time of initial purchase within the range of those in the
Russell 1000 Value Index ("large cap companies") that are publicly traded on a
U.S. securities market. The market capitalization range of the Index changes
constantly, and as a result, the capitalization of large cap companies in which
the Fund will invest will also change. As of September 30, 2012, the market
capitalization range of the Index was approximately $300 million to $427.6 billion.
For purposes of the 80% investment policy, equity and equity related securities
include: common and preferred stocks, securities convertible into common stock,
and warrants on common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to identify
those changes that are material to a company's operations, outlook and prospects
while also identifying companies that it believes have been neglected by other
investors. The Adviser utilizes a primarily qualitative research process focused
on these attributes to identify and invest in relatively undervalued companies.
These factors formulate the Adviser's investment case for each company under
consideration for investment. An important function of the Adviser's investment
process is to set a price target at which the security will be sold, provided
that there has been no fundamental change in the investment case. The Adviser
monitors each security held by the Fund to determine if the security continues
to act in accordance with the Adviser's initial assessment. Ordinarily, once the
Adviser believes that an investment case has realized its anticipated prospects,
the security will be sold. Additionally, the security would typically be sold if
the identified change does not have the expected impact on earnings and cash flow
of the company or a company's fundamentals deteriorate, or due to other market
conditions that would cause the Adviser to believe a sale would be advisable.
Risk [Heading] rr_RiskHeading PRINCIPAL INVESTMENT RISKS
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund buys will increase in value. The
following is a summary description of certain risks of investing in the Fund.
  
Market Risk. Stock markets are volatile and can decline significantly in
response to adverse issuer, regulatory, market or economic developments.
Different parts of the U.S. market and different markets around the world can
react differently to these developments. When market prices fall, the value of
your investment will go down. The financial crisis that began in 2008 has caused
a significant decline in the value and liquidity of many securities of issuers
worldwide. Some governmental and non-governmental issuers (notably in Europe)
have defaulted on, or been forced to restructure, their debts, and many other
issuers have faced difficulties obtaining credit. These market conditions may
continue, worsen or spread, including in the U.S., Europe and beyond. Further
defaults or restructurings by governments and others of their debt could have
additional adverse effects on economies, financial markets and asset valuations
around the world. Whether or not the Fund invests in securities of issuers
located in or with significant exposure to countries experiencing economic and
financial difficulties, these events could negatively affect the value and
liquidity of the Fund's investments. The Fund may experience a substantial or
complete loss on any individual security. In addition, legislation recently
enacted in the U.S. calls for changes in many aspects of financial regulation.
The impact of the legislation on the markets, and the practical implications
for market participants, may not be fully known for some time.
  
Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that
affect particular companies or industries, including changes in market demand
for particular goods and services, increases in costs of supply, changes in
management, increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.
  
Portfolio Selection Risk. The value of your investment may decrease if the
Adviser's judgment about the attractiveness, value of, or market trends
affecting a particular security, industry or sector, country or region, or
about market movements, is incorrect.
  
Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, imposition of currency
controls or restrictions, natural disasters and political, economic or social
instability. Because many foreign markets are smaller, less liquid and more
volatile, the Fund may not be able to sell portfolio securities at times, in
amounts and at prices it considers reasonable. In some foreign countries, less
information is available about issuers and markets. Foreign markets may offer
less protection to investors. Foreign stocks can fluctuate more widely in price
than comparable U.S. stocks, and they may also be less liquid. Currency
fluctuations could erase investment gains or add to investment losses.
  
Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological changes, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.
  
Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur additional
operating expenses, which would reduce performance, and could cause shareowners to
incur a higher level of taxable income or capital gains.
  
Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.
  
These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.
  
An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund buys will increase in value.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading PERFORMANCE INFORMATION
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and the average annual total return table below illustrate
the risks and volatility of an investment in the Fund. The bar chart shows
changes in the Fund's performance from calendar year to calendar year for
Institutional Shares. The table shows how the Fund's average annual total
returns for one year, five years and since inception, both before and after
taxes, compare with those of the Russell 1000 Value Index and the Russell
1000 Index, two broad-based measures of market performance. Total returns
would have been lower had certain fees and expenses not been waived. The
Fund makes updated performance information available at the Fund's website,
www.crmfunds.com/performance_daily.aspx, or at the following telephone number:
800-CRM-2883. Of course, the Fund's past performance, both before and after
taxes, does not necessarily indicate how the Fund will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one year, five years and since inception, both before and after taxes, compare with those of the Russell 1000 Value Index and the Russell 1000 Index, two broad-based measures of market performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-CRM-2883
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.crmfunds.com/performance_daily.aspx
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Calendar YTD Total Return as of September 30, 2012: 16.45%

    Best Quarter During the Period          Worst Quarter During the Period    
       Covered in the Bar Chart                Covered in the Bar Chart        
                                      
                14.15%                                 (20.18)%                
For the quarter ended June 30, 2009   For the quarter ended December 31, 2008
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes reflects no deduction for fees, expenses or taxes
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate 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.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.
Caption rr_AverageAnnualReturnCaption Average Annual Total Returns as of December 31, 2011
CRM LARGE CAP OPPORTUNITY FUND (Prospectus Summary) | CRM LARGE CAP OPPORTUNITY FUND | Russell 1000 Value Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell 1000 Value Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 0.39%
5 Years rr_AverageAnnualReturnYear05 (2.64%)
Since Inception rr_AverageAnnualReturnSinceInception 1.21%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 01, 2005
CRM LARGE CAP OPPORTUNITY FUND (Prospectus Summary) | CRM LARGE CAP OPPORTUNITY FUND | Russell 1000 Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell 1000 Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 1.50%
5 Years rr_AverageAnnualReturnYear05 (0.02%)
Since Inception rr_AverageAnnualReturnSinceInception 2.40%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 01, 2005
CRM LARGE CAP OPPORTUNITY FUND (Prospectus Summary) | CRM LARGE CAP OPPORTUNITY FUND | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets 0.25%
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 0.33%
Total Other Expenses rr_OtherExpensesOverAssets 0.58%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.34% [1],[2]
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.18%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 1.16% [1],[2]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-11-01
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 118
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 407
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 717
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,597
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (2.91%)
5 Years rr_AverageAnnualReturnYear05 (1.51%)
Since Inception rr_AverageAnnualReturnSinceInception 1.28%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 01, 2005
CRM LARGE CAP OPPORTUNITY FUND (Prospectus Summary) | CRM LARGE CAP OPPORTUNITY FUND | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets none
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 0.34%
Total Other Expenses rr_OtherExpensesOverAssets 0.34%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.10% [1],[2]
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.19%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 0.91% [1],[2]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-11-01
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 93
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 331
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 588
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,323
Annual Return 2006 rr_AnnualReturn2006 16.94%
Annual Return 2007 rr_AnnualReturn2007 7.80%
Annual Return 2008 rr_AnnualReturn2008 (34.16%)
Annual Return 2009 rr_AnnualReturn2009 22.42%
Annual Return 2010 rr_AnnualReturn2010 10.98%
Annual Return 2011 rr_AnnualReturn2011 (2.73%)
Year to Date Return, Label rr_YearToDateReturnLabel Calendar YTD Total Return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 16.45%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter During the Period Covered in the Bar Chart
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 14.15%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter During the Period Covered in the Bar Chart
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (20.18%)
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (2.73%)
5 Years rr_AverageAnnualReturnYear05 (1.28%)
Since Inception rr_AverageAnnualReturnSinceInception 1.53%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 01, 2005
CRM LARGE CAP OPPORTUNITY FUND (Prospectus Summary) | CRM LARGE CAP OPPORTUNITY FUND | Institutional Shares | After Taxes on Distributions
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (2.97%)
5 Years rr_AverageAnnualReturnYear05 (1.71%)
Since Inception rr_AverageAnnualReturnSinceInception 1.13%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 01, 2005
CRM LARGE CAP OPPORTUNITY FUND (Prospectus Summary) | CRM LARGE CAP OPPORTUNITY FUND | Institutional Shares | After Taxes on Distributions and Sales
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions and Sale of Shares
1 Year rr_AverageAnnualReturnYear01 (1.78%)
5 Years rr_AverageAnnualReturnYear05 (1.24%)
Since Inception rr_AverageAnnualReturnSinceInception 1.16%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 01, 2005
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
[2] The Adviser has a contractual obligation to waive a portion of its fees and to assume certain expenses of the Fund to the extent that the total annual fund operating expenses, excluding taxes, extraordinary expenses, brokerage commissions, interest and acquired fund fees and expenses, exceed 1.15% and 0.90% of average daily net assets of Investor Shares and Institutional Shares, respectively. These expense limitations are in effect until November 1, 2013. Prior to that date, the arrangement may be terminated for a class only by the vote of the Board of Trustees of the Fund.

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Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Oct. 26, 2012
CRM All Cap Value Fund (Prospectus Summary) | CRM All Cap Value Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading CRM ALL CAP VALUE FUND
Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock CRM All Cap Value Fund seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading FEES AND EXPENSES
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table sets forth the fees and expenses that you may pay if you buy and hold
shares of the Fund.
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)
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 145%
of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 145.00%
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading 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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses
(reflecting applicable contractual fee waivers and expense reimbursement
arrangements) are charged and remain the same over the time periods; and
you redeemed all of your investment at the end of each time period.

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, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of U.S. and non-U.S. companies that are
publicly traded on a U.S. securities market. There are no limits on the market
capitalizations of the companies in which the Fund may invest. For purposes of
the 80% investment policy, equity and equity related securities include: common
and preferred stocks, securities convertible into common stock, and warrants on
common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to identify
those changes that are material to a company's operations, outlook and prospects
while also identifying companies that it believes have been neglected by other
investors. The Adviser utilizes a primarily qualitative research process focused
on these attributes to identify and invest in relatively undervalued companies.
These factors formulate the Adviser's investment case for each company under
consideration for investment. An important function of the Adviser's investment
process is to set a price target at which the security will be sold, provided
that there has been no fundamental change in the investment case. The Adviser
monitors each security held by the Fund to determine if the security continues
to act in accordance with the Adviser's initial assessment. Ordinarily, once the
Adviser believes that an investment case has realized its anticipated prospects,
the security will be sold. Additionally, the security would typically be sold if
the identified change does not have the expected impact on earnings and cash flow
of the company or a company's fundamentals deteriorate, or due to other market
conditions that would cause the Adviser to believe a sale would be advisable.
Risk [Heading] rr_RiskHeading PRINCIPAL INVESTMENT RISKS
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund buys will increase in value. The
following is a summary description of certain risks of investing in the Fund.

Market Risk. Stock markets are volatile and can decline significantly in response
to adverse issuer, regulatory, market or economic developments. Different parts
of the U.S. market and different markets around the world can react differently
to these developments. When market prices fall, the value of your investment
will go down. The financial crisis that began in 2008 has caused a significant
decline in the value and liquidity of many securities of issuers worldwide.
Some governmental and non-governmental issuers (notably in Europe) have
defaulted on, or been forced to restructure, their debts, and many other issuers
have faced difficulties obtaining credit. These market conditions may continue,
worsen or spread, including in the U.S., Europe and beyond. Further defaults or
restructurings by governments and others of their debt could have additional
adverse effects on economies, financial markets and asset valuations around the
world. Whether or not the Fund invests in securities of issuers located in or
with significant exposure to countries experiencing economic and financial
difficulties, these events could negatively affect the value and liquidity of
the Fund's investments. The Fund may experience a substantial or complete loss
on any individual security. In addition, legislation recently enacted in the
U.S. calls for changes in many aspects of financial regulation. The impact of
the legislation on the markets, and the practical implications for market
participants, may not be fully known for some time.

Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that affect
particular companies or industries, including changes in market demand for
particular goods and services, increases in costs of supply, changes in management,
increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.

Portfolio Selection Risk. The value of your investment may decrease if the
Adviser's judgment about the attractiveness, value of, or market trends affecting
a particular security, industry or sector, country or region, or about market
movements, is incorrect.

Risks of Small and Mid Cap Companies. Compared to mutual funds that focus
exclusively on large capitalization companies, the Fund may be more volatile
because it also invests in small and/or mid capitalization companies. Small and
mid capitalization companies are more likely to have more limited product lines,
fewer capital resources and less depth of management than larger companies.
Securities of smaller companies may have limited liquidity and may be difficult
to value or to sell at an advantageous time or without a substantial drop in
price.

Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, imposition of currency
controls or restrictions, natural disasters and political, economic or social
instability. Because many foreign markets are smaller, less liquid and more
volatile, the Fund may not be able to sell portfolio securities at times, in
amounts and at prices it considers reasonable. In some foreign countries, less
information is available about issuers and markets. Foreign markets may offer
less protection to investors. Foreign stocks can fluctuate more widely in price
than comparable U.S. stocks, and they may also be less liquid. Currency
fluctuations could erase investment gains or add to investment losses.

Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological changes, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.

Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur
additional operating expenses, which would reduce performance, and could cause
shareowners to incur a higher level of taxable income or capital gains.

Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.

These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.

An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund buys will increase in value.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading PERFORMANCE INFORMATION
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and the average annual total return table below illustrate the risks
and volatility of an investment in the Fund. The bar chart shows changes in the
Fund's performance from calendar year to calendar year for Institutional Shares.
The table shows how the Fund's average annual total returns for one year, five
years and since inception, both before and after taxes, compare with those of the
Russell 3000 Value Index and the Russell 3000 Index, two broad-based measures of
market performance. Total returns would have been lower had certain fees and
expenses not been waived. The Fund makes updated performance information available
at the Fund's website, www.crmfunds.com/performance_daily.aspx, or at the following
telephone number: 800-CRM-2883. Of course, the Fund's past performance, both before
and after taxes, does not necessarily indicate how the Fund will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one year, five years and since inception, both before and after taxes, compare with those of the Russell 3000 Value Index and the Russell 3000 Index, two broad-based measures of market performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-CRM-2883
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.crmfunds.com/performance_daily.aspx
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Calendar YTD Total Return as of September 30, 2012: 16.23%

  Best Quarter During the Period        Worst Quarter During the Period    
       Covered in the Bar Chart               Covered in the Bar Chart        
                                      
                17.89%                                 (23.47)%                
For the quarter ended June 30, 2009   For the quarter ended December 31, 2008
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes reflects no deduction for fees, expenses or taxes
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate 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.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.
Caption rr_AverageAnnualReturnCaption Average Annual Total Returns as of December 31, 2011
CRM All Cap Value Fund (Prospectus Summary) | CRM All Cap Value Fund | Russell 3000 Value Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell 3000 Value Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 (0.10%)
5 Years rr_AverageAnnualReturnYear05 (2.58%)
Since Inception rr_AverageAnnualReturnSinceInception (1.61%)
Inception Date rr_AverageAnnualReturnInceptionDate Oct. 24, 2006
CRM All Cap Value Fund (Prospectus Summary) | CRM All Cap Value Fund | Russell 3000 Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell 3000 Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 1.03%
5 Years rr_AverageAnnualReturnYear05 (0.01%)
Since Inception rr_AverageAnnualReturnSinceInception 0.66%
Inception Date rr_AverageAnnualReturnInceptionDate Oct. 24, 2006
CRM All Cap Value Fund (Prospectus Summary) | CRM All Cap Value Fund | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.95%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets 0.25%
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 0.38%
Total Other Expenses rr_OtherExpensesOverAssets 0.63%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.59% [1],[2]
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.08%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 1.51% [1],[2]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-11-01
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 154
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 494
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 858
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,882
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (9.91%)
5 Years rr_AverageAnnualReturnYear05 (1.57%)
Since Inception rr_AverageAnnualReturnSinceInception (0.95%)
Inception Date rr_AverageAnnualReturnInceptionDate Oct. 24, 2006
CRM All Cap Value Fund (Prospectus Summary) | CRM All Cap Value Fund | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.95%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets none
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 0.38%
Total Other Expenses rr_OtherExpensesOverAssets 0.38%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.34% [1],[2]
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.08%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 1.26% [1],[2]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-11-01
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 128
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 417
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 726
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,606
Annual Return 2007 rr_AnnualReturn2007 4.29%
Annual Return 2008 rr_AnnualReturn2008 (36.26%)
Annual Return 2009 rr_AnnualReturn2009 31.67%
Annual Return 2010 rr_AnnualReturn2010 18.42%
Annual Return 2011 rr_AnnualReturn2011 (9.67%)
Year to Date Return, Label rr_YearToDateReturnLabel YTD Total Return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 16.23%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter During the Period Covered in the Bar Chart
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.89%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter During the Period Covered in the Bar Chart
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (23.47%)
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (9.67%)
5 Years rr_AverageAnnualReturnYear05 (1.31%)
Since Inception rr_AverageAnnualReturnSinceInception (0.69%)
Inception Date rr_AverageAnnualReturnInceptionDate Oct. 24, 2006
CRM All Cap Value Fund (Prospectus Summary) | CRM All Cap Value Fund | Institutional Shares | After Taxes on Distributions
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (10.01%)
5 Years rr_AverageAnnualReturnYear05 (1.52%)
Since Inception rr_AverageAnnualReturnSinceInception (0.91%)
Inception Date rr_AverageAnnualReturnInceptionDate Oct. 24, 2006
CRM All Cap Value Fund (Prospectus Summary) | CRM All Cap Value Fund | Institutional Shares | After Taxes on Distributions and Sales
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions and Sale of Shares
1 Year rr_AverageAnnualReturnYear01 (5.88%)
5 Years rr_AverageAnnualReturnYear05 (1.16%)
Since Inception rr_AverageAnnualReturnSinceInception (0.64%)
Inception Date rr_AverageAnnualReturnInceptionDate Oct. 24, 2006
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
[2] The Adviser has a contractual obligation to waive a portion of its fees and to assume certain expenses of the Fund to the extent that the total annual fund operating expenses, excluding taxes, extraordinary expenses, brokerage commissions, interest and acquired fund fees and expenses, exceed 1.50% and 1.25% of average daily net assets of Investor Shares and Institutional Shares, respectively. These expense limitations are in effect until November 1, 2013. Prior to that date, the arrangement may be terminated for a class only by the vote of the Board of Trustees of the Fund.

XML 16 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
CRM SMALL/MID CAP VALUE FUND (Prospectus Summary) | CRM SMALL/MID CAP VALUE FUND
SMALL/MID CAP VALUE FUND
INVESTMENT OBJECTIVE
CRM Small/Mid Cap Value Fund seeks long-term capital appreciation.
FEES AND EXPENSES
This table sets forth the fees and expenses that you may pay if you buy and hold
shares of the Fund.
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses CRM SMALL/MID CAP VALUE FUND
Investor Shares
Institutional Shares
Management Fees 0.75% 0.75%
Distribution (12b-1) Fees none none
Shareholder Servicing Fee 0.25% none
Other Miscellaneous Expenses 0.08% 0.12%
Total Other Expenses 0.33% 0.12%
Acquired Fund Fees and Expenses 0.01% 0.01%
Total Annual Fund Operating Expenses [1] 1.09% 0.88%
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses are
charged and remain the same over the time periods; and you redeemed all of your
investment at the end of each time period.

Although your actual costs may be higher or lower based on these assumptions,
your costs would be:
Expense Example CRM SMALL/MID CAP VALUE FUND (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Investor Shares
111 347 601 1,329
Institutional Shares
90 281 488 1,084
PORTFOLIO TURNOVER
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 96%
of the average value of its portfolio.
PRINCIPAL INVESTMENT STRATEGIES
The Fund, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of U.S. and non-U.S. companies with market
capitalizations at the time of initial purchase within the range of those in
the Russell 2500 Value Index or in the S&P Mid Cap 400 Value Index (together,
"small/mid cap companies") that are publicly traded on a U.S. securities market.
The market capitalization ranges of the Indices change constantly, and as a
result, the capitalization of small/mid cap companies in which the Fund will
invest will also change. As of September 30, 2012, the market capitalization
range of the Russell 2500 Value Index was approximately $45 million to $8.5
billion, and the market capitalization range of the S&P Mid Cap 400 Value
Index was approximately $237 million to $14.7 billion. For purposes of the 80%
investment policy, equity and equity related securities include: common and
preferred stocks, securities convertible into common stock, and warrants on
common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to identify
those changes that are material to a company's operations, outlook and prospects
while also identifying companies that it believes have been neglected by other
investors. The Adviser utilizes a primarily qualitative research process focused
on these attributes to identify and invest in relatively undervalued companies.
These factors formulate the Adviser's investment case for each company under
consideration for investment. An important function of the Adviser's investment
process is to set a price target at which the security will be sold, provided
that there has been no fundamental change in the investment case. The Adviser
monitors each security held by the Fund to determine if the security continues
to act in accordance with the Adviser's initial assessment. Ordinarily, once
the Adviser believes that an investment case has realized its anticipated
prospects, the security will be sold. Additionally, the security would typically
be sold if the identified change does not have the expected impact on earnings
and cash flow of the company or a company's fundamentals deteriorate, or due to
other market conditions that would cause the Adviser to believe a sale would be
advisable.
PRINCIPAL INVESTMENT RISKS
It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund buys will increase in value. The
following is a summary description of certain risks of investing in the Fund.

Market Risk. Stock markets are volatile and can decline significantly in
response to adverse issuer, regulatory, market or economic developments.
Different parts of the U.S. market and different markets around the world can
react differently to these developments. When market prices fall, the value of
your investment will go down. The financial crisis that began in 2008 has caused
a significant decline in the value and liquidity of many securities of issuers
worldwide. Some governmental and non-governmental issuers (notably in Europe)
have defaulted on, or been forced to restructure, their debts, and many other
issuers have faced difficulties obtaining credit. These market conditions may
continue, worsen or spread, including in the U.S., Europe and beyond. Further
defaults or restructurings by governments and others of their debt could have
additional adverse effects on economies, financial markets and asset valuations
around the world. Whether or not the Fund invests in securities of issuers
located in or with significant exposure to countries experiencing economic and
financial difficulties, these events could negatively affect the value and
liquidity of the Fund's investments. The Fund may experience a substantial or
complete loss on any individual security. In addition, legislation recently
enacted in the U.S. calls for changes in many aspects of financial regulation.
The impact of the legislation on the markets, and the practical implications for
market participants, may not be fully known for some time.

Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that affect
particular companies or industries, including changes in market demand for
particular goods and services, increases in costs of supply, changes in
management, increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.

Portfolio Selection Risk. The value of your investment may decrease if the
Adviser's judgment about the attractiveness, value of, or market trends affecting
a particular security, industry or sector, country or region, or about market
movements, is incorrect.

Risks of Small and Mid Cap Companies. Compared to mutual funds that focus
exclusively on large capitalization companies, the Fund may be more volatile
because it invests in small and/or mid capitalization companies. Small and mid
capitalization companies are more likely to have more limited product lines,
fewer capital resources and less depth of management than larger companies.
Securities of smaller companies may have limited liquidity and may be difficult
to value or to sell at an advantageous time or without a substantial drop in
price.

Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, imposition of currency
controls or restrictions, natural disasters and political, economic or social
instability. Because many foreign markets are smaller, less liquid and more
volatile, the Fund may not be able to sell portfolio securities at times, in
amounts and at prices it considers reasonable. In some foreign countries, less
information is available about issuers and markets. Foreign markets may offer
less protection to investors. Foreign stocks can fluctuate more widely in price
than comparable U.S. stocks, and they may also be less liquid. Currency
fluctuations could erase investment gains or add to investment losses.

Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological changes, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.

Portfolio Turnover Risk.If the Fund does a lot of trading, it may incur additional
operating expenses, which would reduce performance, and could cause shareowners to
incur a higher level of taxable income or capital gains.

Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.

These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.

An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
PERFORMANCE INFORMATION
The bar chart and the average annual total return table below illustrate the risks
and volatility of an investment in the Fund. The bar chart shows changes in the
Fund's performance from calendar year to calendar year for Institutional Shares.
The table shows how the Fund's average annual total returns for one year, five
years and since inception, both before and after taxes, compare with those of the
Russell 2500 Value Index and the Russell 2500 Index, two broad based measures of
market performance. This performance information includes performance of the Fund's
predecessor, the CRM Small/Mid Cap Value Fund (a series of WT Mutual Fund) for
periods from September 1, 2004 (commencement of operations) through September 30,
2005. Total returns would have been lower had certain fees and expenses not been
waived. The Fund makes updated performance information available at the Fund's
website, www.crmfunds.com/performance_daily.aspx, or at the following telephone
number: 800-CRM-2883. Of course, the Fund's past performance, both before and
after taxes, does not necessarily indicate how the Fund will perform in the future.
ANNUAL TOTAL RETURNS FOR THE INSITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31
Bar Chart
Calendar YTD Total Return as of September 30, 2012: 14.12%

   Best Quarter During the Period             Worst Quarter During the Period     
        Covered in the Bar Chart                    Covered in the Bar Chart        
                                         
                 15.75%                                     (22.70)%                
For the quarter ended December 31, 2010     For the quarter ended September 30, 2011
Average Annual Total Returns as of December 31, 2011
Average Annual Total Returns CRM SMALL/MID CAP VALUE FUND
Label
1 Year
5 Years
Since Inception
Inception Date
Investor Shares
Before Taxes (5.38%) 1.97% 6.88% Sep. 01, 2004
Institutional Shares
Before Taxes (5.20%) 2.22% 7.14% Sep. 01, 2004
Institutional Shares After Taxes on Distributions
After Taxes on Distributions (6.78%) 1.52% 6.39% Sep. 01, 2004
Institutional Shares After Taxes on Distributions and Sales
After Taxes on Distributions and Sale of Shares (2.24%) 1.67% 5.95% Sep. 01, 2004
Russell 2500 Value Index
Russell 2500 Value Index (reflects no deduction for fees, expenses or taxes) (3.36%) (0.58%) 5.44% Sep. 01, 2004
Russell 2500 Index
Russell 2500 Index (reflects no deduction for fees, expenses or taxes) (2.51%) 1.24% 6.47% Sep. 01, 2004
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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.
XML 17 R32.htm IDEA: XBRL DOCUMENT v2.4.0.6
CRM Global Opportunity Fund (Prospectus Summary) | CRM Global Opportunity Fund
CRM GLOBAL OPPORTUNITY FUND
INVESTMENT OBJECTIVE
CRM Global Opportunity Fund seeks long-term capital appreciation.
FEES AND EXPENSES
This table sets forth 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)
Shareholder Fees CRM Global Opportunity Fund
Investor Shares
Institutional Shares
Redemption Fee on Shares Held Less Than 30 Days (as a percentage of amount redeemed, if applicable) 1.50% 1.50%
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses CRM Global Opportunity Fund
Investor Shares
Institutional Shares
Management Fees 0.90% 0.90%
Distribution (12b-1) Fees none none
Shareholder Servicing Fee 0.25% none
Other Miscellaneous Expenses 0.47% 0.48%
Total Other Expenses 0.72% 0.48%
Acquired Fund Fees and Expenses 0.01% 0.01%
Total Annual Fund Operating Expenses [1][2] 1.63% 1.39%
Fee Waiver and Expense Reimbursement [2] (0.12%) (0.13%)
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement [1][2] 1.51% 1.26%
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
[2] The Adviser has a contractual obligation to waive a portion of its fees and to assume certain expenses of the Fund to the extent that the total annual fund operating expenses, excluding taxes, extraordinary expenses, brokerage commissions, interest and acquired fund fees and expenses, exceed 1.50% and 1.25% of average daily net assets of Investor Shares and Institutional Shares, respectively. These expense limitations are in effect until November 1, 2013. Prior to that date, the arrangement may be terminated for a class only by the vote of the Board of Trustees of the Fund.
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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses
(reflecting applicable contractual fee waivers and expense reimbursement
arrangements) are charged and remain the same over the time periods; and you
redeemed all of your investment at the end of each time period.

Although your actual costs may be higher or lower based on these assumptions,
your costs would be:
Expense Example CRM Global Opportunity Fund (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Investor Shares
154 502 875 1,923
Institutional Shares
128 427 748 1,657
PORTFOLIO TURNOVER
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 191%
of the average value of its portfolio.
PRINCIPAL INVESTMENT STRATEGIES
The Fund, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of U.S. and foreign companies. The Fund
normally invests in the securities of companies that are tied economically to at
least 10 countries, including the U.S. The Fund may invest in companies located
in developed and emerging markets. Emerging markets include countries that have
an emerging stock market as defined by Standard & Poor's, Inc., countries or
markets with low- to middle-income economies as classified by the World Bank,
and other countries or markets with similar emerging characteristics. The Fund
may at any one time invest all or substantially all of its assets in foreign
companies and at another time invest substantially in U.S. companies, although,
under normal market conditions, it is expected that a majority of the Fund's
assets will be invested in foreign companies. The Fund may invest in companies
of any size. For purposes of the 80% investment policy, equity and equity
related securities include: common and preferred stocks, securities convertible
into common stock, and warrants on common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to identify
those changes that are material to a company's operations, outlook and prospects
while also identifying companies that it believes have been neglected by other
investors. The Adviser utilizes a primarily qualitative research process focused
on these attributes to identify and invest in relatively undervalued companies.
These factors formulate the Adviser's investment case for each company under
consideration for investment. An important function of the Adviser's investment
process is to set a price target at which the security will be sold, provided
that there has been no fundamental change in the investment case. The Adviser
monitors each security held by the Fund to determine if the security continues
to act in accordance with the Adviser's initial assessment. Ordinarily, once the
Adviser believes that an investment case has realized its anticipated prospects,
the security will be sold. Additionally, the security would typically be sold if
the identified change does not have the expected impact on earnings and cash
flow of the company or a company's fundamentals deteriorate, or due to other
market conditions that would cause the Adviser to believe a sale would be advisable.
PRINCIPAL INVESTMENT RISKS
It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund buys will increase in value. The
following is a summary description of certain risks of investing in the Fund.

Market Risk. Stock markets are volatile and can decline significantly in
response to adverse issuer, regulatory, market or economic developments.
Different parts of the U.S. market and different markets around the world can
react differently to these developments. When market prices fall, the value of
your investment will go down. The financial crisis that began in 2008 has caused
a significant decline in the value and liquidity of many securities of issuers
worldwide. Some governmental and non-governmental issuers (notably in Europe)
have defaulted on, or been forced to restructure, their debts, and many other
issuers have faced difficulties obtaining credit. These market conditions may
continue, worsen or spread, including in the U.S., Europe and beyond. Further
defaults or restructurings by governments and others of their debt could have
additional adverse effects on economies, financial markets and asset valuations
around the world. Whether or not the Fund invests in securities of issuers
located in or with significant exposure to countries experiencing economic and
financial difficulties, these events could negatively affect the value and
liquidity of the Fund's investments. The Fund may experience a substantial or
complete loss on any individual security. In addition, legislation recently
enacted in the U.S. calls for changes in many aspects of financial regulation.
The impact of the legislation on the markets, and the practical implications for
market participants, may not be fully known for some time.

Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that affect
particular companies or industries, including changes in market demand for
particular goods and services, increases in costs of supply, changes in management,
increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.

Portfolio Selection Risk. The value of your investment may decrease if the Adviser's
judgment about the attractiveness, value of, or market trends affecting a particular
security, industry or sector, country or region, or about market movements, is
incorrect.

Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, natural disasters and
political, economic or social instability. Because many foreign markets are
smaller, less liquid and more volatile, the Fund may not be able to sell
portfolio securities at times, in amounts and at prices it considers reasonable.
In some foreign countries, less information is available about issuers and
markets. Foreign markets may offer less protection to investors. Foreign stocks
can fluctuate more widely in price than comparable U.S. stocks, and they may
also be less liquid.

Currency Risk. The Fund generally invests in securities denominated in foreign
currencies, and could experience gains or losses solely on changes in the
exchange rate between foreign currencies and the U.S. dollar. Currency exchange
rates can be volatile, and are affected by factors such as general economic
conditions, the actions of the U.S. and foreign governments or central banks,
and the imposition of currency controls or restrictions and speculation.

Emerging Markets Risk.The risks of investing in foreign securities are generally
greater in emerging markets, or to the extent that the Fund invests significantly
in one region or country. The extent of economic development, political stability,
market depth, infrastructure, capitalization and regulatory oversight can be less
than in more developed markets. The economies of emerging market countries may be
dependent on relatively few industries that are more susceptible to local and
global changes. Emerging market countries may experience rising interest rates,
or, more significantly, rapid inflation or hyperinflation.

Risks of Small and Mid Cap Companies. Compared to mutual funds that focus
exclusively on large capitalization companies, the Fund may be more volatile
because it also invests in small and/or mid capitalization companies. Small and
mid capitalization companies are more likely to have more limited product lines,
fewer capital resources and less depth of management than larger companies.
Securities of smaller companies may have limited liquidity and may be difficult
to value or sell at advantageous time or without a substantial drop in price.

Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological changes, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.

Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur
additional operating expenses, which would reduce performance, and could cause
shareowners to incur a higher level of taxable income or capital gains.

Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.

These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.

An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
PERFORMANCE INFORMATION
The bar chart and the average annual total return table below illustrate the risks
and volatility of an investment in the Fund. The bar chart shows changes in the
Fund's performance from calendar year to calendar year for Institutional Shares.
The table shows how the Fund's average annual total returns for one year and since
inception, both before and after taxes, compare with those of the MSCI World Index,
a broad-based measure of market performance. Total returns would have been lower
had certain fees and expenses not been waived. The Fund makes updated performance
information available at the Fund's website, www.crmfunds.com/performance_daily.aspx,
or at the following telephone number: 800-CRM-2883. Of course, the Fund's past
performance, both before and after taxes, does not necessarily indicate how the
Fund will perform in the future.
ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEAR ENDED DECEMBER 31
Bar Chart
Calendar YTD Total Return as of September 30, 2012: 14.24%

  Best Quarter During the Period          Worst Quarter During the Period     
       Covered in the Bar Chart                 Covered in the Bar Chart        
                                      
                25.54%                                  (25.69)%                
For the quarter ended June 30, 2009   For the quarter ended September 30, 2011
Average Annual Total Returns as of December 31, 2011
Average Annual Total Returns CRM Global Opportunity Fund
Label
1 Year
Since Inception
Inception Date
Investor Shares
Before Taxes (19.25%) 12.95% Dec. 31, 2008
Institutional Shares
Before Taxes (19.07%) 13.23% Dec. 31, 2008
Institutional Shares After Taxes on Distributions
After Taxes on Distributions (22.86%) 11.21% Dec. 31, 2008
Institutional Shares After Taxes on Distributions and Sales
After Taxes on Distributions and Sale of Shares (11.86%) 10.41% Dec. 31, 2008
MSCI World Index
MSCI World Index (reflects no deduction for fees, expenses or taxes) (5.54%) 11.13% Dec. 31, 2008
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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.
XML 18 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
CRM SMALL CAP VALUE FUND (Prospectus Summary) | CRM SMALL CAP VALUE FUND
CRM SMALL CAP VALUE FUND
INVESTMENT OBJECTIVE
CRM Small Cap Value Fund seeks long-term capital appreciation.
FEES AND EXPENSES
This table sets forth the fees and expenses that you may pay if you buy and hold
shares of the Fund.
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses CRM SMALL CAP VALUE FUND
Investor Shares
Institutional Shares
Management Fees 0.75% 0.75%
Distribution (12b-1) Fees none none
Shareholder Servicing Fee 0.25% none
Other Miscellaneous Expenses 0.08% 0.10%
Total Other Expenses 0.33% 0.10%
Acquired Fund Fees and Expenses 0.01% 0.01%
Total Annual Fund Operating Expenses [1] 1.09% 0.86%
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses are
charged and remain the same over the time periods; and you redeemed all of your
investment at the end of each time period.

Although your actual costs may be higher or lower based on these assumptions,
your costs would be:
Expense Example CRM SMALL CAP VALUE FUND (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Investor Shares
111 347 601 1,329
Institutional Shares
88 274 477 1,061
PORTFOLIO TURNOVER
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 103%
of the average value of its portfolio.
PRINCIPAL INVESTMENT STRATEGIES
The Fund, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of U.S. and non-U.S. companies with market
capitalizations at the time of initial purchase within the range of those in the
Russell 2000 Value Index ("small cap companies") that are publicly traded on a
U.S. securities market. The market capitalization range of the Index changes
constantly, and as a result, the capitalization of small cap companies in which
the Fund will invest will also change. As of September 30, 2012, the market
capitalization range of the Index was approximately $45 million to $3.8 billion.
For purposes of the 80% investment policy, equity and equity related securities
include: common and preferred stocks, securities convertible into common stock,
and warrants on common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to
identify those changes that are material to a company's operations, outlook and
prospects while also identifying companies that it believes have been neglected
by other investors. The Adviser utilizes a primarily qualitative research process
focused on these attributes to identify and invest in relatively undervalued
companies. These factors formulate the Adviser's investment case for each company
under consideration for investment. An important function of the Adviser's
investment process is to set a price target at which the security will be sold,
provided that there has been no fundamental change in the investment case. The
Adviser monitors each security held by the Fund to determine if the security
continues to act in accordance with the Adviser's initial assessment. Ordinarily,
once the Adviser believes that an investment case has realized its anticipated
prospects, the security will be sold. Additionally, the security would typically
be sold if the identified change does not have the expected impact on earnings
and cash flow of the company, the company's fundamentals deteriorate, or due to
other market conditions that would cause the Adviser to believe a sale would be
advisable.
PRINCIPAL INVESTMENT RISKS
It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund holds will increase in value. The
following is a summary description of certain risks of investing in the Fund.

Market Risk. Stock markets are volatile and can decline significantly in
response to adverse issuer, regulatory, market or economic developments.
Different parts of the U.S. market and different markets around the world can
react differently to these developments. When market prices fall, the value of
your investment will go down. The financial crisis that began in 2008 has caused
a significant decline in the value and liquidity of many securities of issuers
worldwide. Some governmental and non-governmental issuers (notably in Europe)
have defaulted on, or been forced to restructure, their debts, and many other
issuers have faced difficulties obtaining credit. These market conditions may
continue, worsen or spread, including in the U.S., Europe and beyond. Further
defaults or restructurings by governments and others of their debt could have
additional adverse effects on economies, financial markets and asset valuations
around the world. Whether or not the Fund invests in securities of issuers
located in or with significant exposure to countries experiencing economic and
financial difficulties, these events could negatively affect the value and
liquidity of the Fund's investments. The Fund may experience a substantial or
complete loss on any individual security. In addition, legislation recently
enacted in the U.S. calls for changes in many aspects of financial regulation.
The impact of the legislation on the markets, and the practical implications for
market participants, may not be fully known for some time.

Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that
affect particular companies or industries, including changes in market demand
for particular goods and services, increases in costs of supply, changes in
management, increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.

Portfolio Selection Risk. The value of your investment may decrease if the
Adviser's judgment about the attractiveness, value of, or market trends affecting
a particular security, industry or sector, country or region, or about market
movements, is incorrect.

Risks of Small Cap Companies. Compared to mutual funds that focus exclusively on
large capitalization companies, the Fund may be more volatile because it invests
in small capitalization companies. Small capitalization companies are more likely
to have more limited product lines, fewer capital resources and less depth of
management than larger companies. Securities of smaller companies may have
limited liquidity and may be difficult to value or to sell at an advantageous
time or without a substantial drop in price.

Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, imposition of currency
controls or restrictions, natural disasters and political, economic or social
instability. Because many foreign markets are smaller, less liquid and more
volatile, the Fund may not be able to sell portfolio securities at times, in
amounts and at prices it considers reasonable. In some foreign countries, less
information is available about issuers and markets. Foreign markets may offer
less protection to investors. Foreign stocks can fluctuate more widely in price
than comparable U.S. stocks, and they may also be less liquid. Currency
fluctuations could erase investment gains or add to investment losses.

Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological change, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.

Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur
additional operating expenses, which would reduce performance, and could cause
shareowners to incur a higher level of taxable income or capital gains.

Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.

These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.

An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
PERFORMANCE INFORMATION
The bar chart and the average annual total return table below illustrate
the risks and volatility of an investment in the Fund. The bar chart shows
changes in the Fund's performance from calendar year to calendar year for
Institutional Shares. The table shows how the Fund's average annual total
returns for one, five and ten years, both before and after taxes, compare
with those of the Russell 2000 Value Index and the Russell 2000 Index, two
broad based measures of market performance. This performance information
includes performance of the Fund's predecessor, the CRM Small Cap Value Fund
(a series of WT Mutual Fund), for periods from January 1, 2002 through September
30, 2005. The Fund makes updated performance information available at the Fund's
website, www.crmfunds.com/performance_daily.aspx, or at the following telephone
number: 800-CRM-2883. Of course, the Fund's past performance, both before and
after taxes, does not necessarily indicate how the Fund will perform in the
future.
ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31
Bar Chart
Calendar YTD Total Return as of September 30, 2012: 13.16%

  Best Quarter During the Period          Worst Quarter During the Period     
       Covered in the Bar Chart                 Covered in the Bar Chart        
                                      
                27.38%                                  (24.58)%                
For the quarter ended June 30, 2003   For the quarter ended September 30, 2011
Average Annual Total Returns as of December 31, 2011
Average Annual Total Returns CRM SMALL CAP VALUE FUND
Label
1 Year
5 Years
10 Years
Investor Shares
Before Taxes (13.48%) (0.78%) 5.72%
Institutional Shares
Before Taxes (13.28%) (0.54%) 5.98%
Institutional Shares After Taxes on Distributions
After Taxes on Distributions (15.52%) (1.71%) 4.52%
Institutional Shares After Taxes on Distributions and Sales
After Taxes on Distributions and Sale of Shares (6.07%) (0.66%) 4.82%
Russell 2000 Value Index
Russell 2000 Value Index (reflects no deduction for fees, expenses or taxes) (5.50%) (1.87%) 6.40%
Russell 2000 Index
Russell 2000 Index (reflects no deduction for fees, expenses or taxes) (4.18%) 0.15% 5.62%
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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.
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Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Oct. 26, 2012
CRM International Opportunity Fund (Prospectus Summary) | CRM International Opportunity Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading CRM INTERNATIONAL OPPORTUNITY FUND
Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock CRM International Opportunity Fund seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading FEES AND EXPENSES
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table sets forth 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)
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 220%
of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 220.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading 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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses
(reflecting applicable contractual fee waivers and expense reimbursement
arrangements) are charged and remain the same over the time periods; and you
redeemed all of your investment at the end of each time period.

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, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of foreign companies. The Fund normally
invests in the securities of companies that are tied economically to at least
10 countries, other than the U.S. The Fund may invest in companies located in
developed and emerging markets. Emerging markets include countries that have
an emerging stock market as defined by Standard & Poor's, Inc., countries or
markets with low- to- middle-income economies as classified by the World Bank,
and other countries or markets with similar emerging characteristics. The Fund
may invest in companies of any size. For purposes of the 80% investment policy,
equity and equity related securities include: common and preferred stocks,
securities convertible into common stock, and warrants on common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to identify
those changes that are material to a company's operations, outlook and prospects
while also identifying companies that it believes have been neglected by other
investors. The Adviser utilizes a primarily qualitative research process focused
on these attributes to identify and invest in relatively undervalued companies.
These factors formulate the Adviser's investment case for each company under
consideration for investment. An important function of the Adviser's investment
process is to set a price target at which the security will be sold, provided
that there has been no fundamental change in the investment case. The Adviser
monitors each security held by the Fund to determine if the security continues
to act in accordance with the Adviser's initial assessment. Ordinarily, once the
Adviser believes that an investment case has realized its anticipated prospects,
the security will be sold. Additionally, the security would typically be sold if
the identified change does not have the expected impact on earnings and cash flow
of the company or a company's fundamentals deteriorate, or due to other market
conditions that would cause the Adviser to believe a sale would be advisable.
Risk [Heading] rr_RiskHeading PRINCIPAL INVESTMENT RISKS
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund buys will increase in value. The
following is a summary description of certain risks of investing in the Fund.

Market Risk. Stock markets are volatile and can decline significantly in
response to adverse issuer, regulatory, market or economic developments.
Different parts of the U.S. market and different markets around the world can
react differently to these developments. When market prices fall, the value of
your investment will go down. The financial crisis that began in 2008 has caused
a significant decline in the value and liquidity of many securities of issuers
worldwide. Some governmental and non-governmental issuers (notably in Europe)
have defaulted on, or been forced to restructure, their debts, and many other
issuers have faced difficulties obtaining credit. These market conditions may
continue, worsen or spread, including in the U.S., Europe and beyond. Further
defaults or restructurings by governments and others of their debt could have
additional adverse effects on economies, financial markets and asset valuations
around the world. Whether or not the Fund invests in securities of issuers
located in or with significant exposure to countries experiencing economic and
financial difficulties, these events could negatively affect the value and
liquidity of the Fund's investments. The Fund may experience a substantial or
complete loss on any individual security. In addition, legislation recently
enacted in the U.S. calls for changes in many aspects of financial regulation.
The impact of the legislation on the markets, and the practical implications for
market participants, may not be fully known for some time.

Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that affect
particular companies or industries, including changes in market demand for
particular goods and services, increases in costs of supply, changes in management,
increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.

Portfolio Selection Risk. The value of your investment may decrease if the
Adviser's judgment about the attractiveness, value of, or market trends affecting
a particular security, industry or sector, country or region, or about market
movements, is incorrect.

Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, natural disasters and
political, economic or social instability. Because many foreign markets are
smaller, less liquid and more volatile, the Fund may not be able to sell
portfolio securities at times, in amounts and at prices it considers reasonable.
In some foreign countries, less information is available about issuers and
markets. Foreign markets may offer less protection to investors. Foreign stocks
can fluctuate more widely in price than comparable U.S. stocks, and they may
also be less liquid.

Currency Risk. The Fund generally invests in securities denominated in foreign
currencies, and could experience gains or losses solely on changes in the
exchange rate between foreign currencies and the U.S. dollar. Currency exchange
rates can be volatile, and are affected by factors such as general economic
conditions, the actions of the U.S. and foreign governments or central banks,
and the imposition of currency controls or restrictions and speculation.

Emerging Markets Risk.The risks of investing in foreign securities are generally
greater in emerging markets, or to the extent that the Fund invests significantly
in one region or country. The extent of economic development, political stability,
market depth, infrastructure, capitalization and regulatory oversight can be less
than in more developed markets. The economies of emerging market countries may be
dependent on relatively few industries that are more susceptible to local and
global changes. Emerging market countries may experience rising interest rates,
or, more significantly, rapid inflation or hyperinflation.

Risks of Small and Mid Cap Companies. Compared to mutual funds that focus
exclusively on large capitalization companies, the Fund may be more volatile
because it also invests in small and/or mid capitalization companies. Small and
mid capitalization companies are more likely to have more limited product lines,
fewer capital resources and less depth of management than larger companies.
Securities of smaller companies may have limited liquidity and may be difficult
to value or to sell at an advantageous time or without a substantial drop in
price.

Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological changes, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.

Portfolio Turnover Risk.If the Fund does a lot of trading, it may incur additional
operating expenses, which would reduce performance, and could cause shareowners to
incur a higher level of taxable income or capital gains.

Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.

These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.

An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund buys will increase in value.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading PERFORMANCE INFORMATION
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and the average annual total return table below illustrate the risks
and volatility of an investment in the Fund. The bar chart shows changes in the
Fund's performance from calendar year to calendar year for Institutional Shares.
The table shows how the Fund's average annual total returns for one year and since
inception, both before and after taxes, compare with those of the MSCI EAFE Index,
a broad-based measure of market performance. Total returns would have been lower
had certain fees and expenses not been waived. The Fund makes updated performance
information available at the Fund's website, www.crmfunds.com/performance_daily.aspx,
or at the following telephone number: 800-CRM-2883. Of course, the Fund's past
performance, both before and after taxes, does not necessarily indicate how the
Fund will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one year and since inception, both before and after taxes, compare with those of the MSCI EAFE Index, a broad-based measure of market performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-CRM-2883
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.crmfunds.com/performance_daily.aspx
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEAR ENDED DECEMBER 31
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Calendar YTD Total Return as af September 30, 2012: 13.51%

  Best Quarter During the Period          Worst Quarter During the Period     
       Covered in the Bar Chart                 Covered in the Bar Chart        
                                      
                25.82%                                  (25.94)%                
For the quarter ended June 30, 2009   For the quarter ended September 30, 2011
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes reflects no deduction for fees, expenses or taxes
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate 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.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.
Caption rr_AverageAnnualReturnCaption Average Annual Total Returns as of December 31, 2011
CRM International Opportunity Fund (Prospectus Summary) | CRM International Opportunity Fund | MSCI EAFE Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel MSCI EAFE Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 (12.14%)
Since Inception rr_AverageAnnualReturnSinceInception 7.65%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2008
CRM International Opportunity Fund (Prospectus Summary) | CRM International Opportunity Fund | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Redemption Fee on Shares Held Less Than 30 Days (as a percentage of amount redeemed, if applicable) rr_RedemptionFeeOverRedemption (1.50%)
Management Fees rr_ManagementFeesOverAssets 0.90%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets 0.25%
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 1.79%
Total Other Expenses rr_OtherExpensesOverAssets 2.04%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.95% [1],[2]
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.44%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 1.51% [1],[2]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-11-01
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 154
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 777
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,426
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 3,168
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (18.54%)
Since Inception rr_AverageAnnualReturnSinceInception 13.07%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2008
CRM International Opportunity Fund (Prospectus Summary) | CRM International Opportunity Fund | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Redemption Fee on Shares Held Less Than 30 Days (as a percentage of amount redeemed, if applicable) rr_RedemptionFeeOverRedemption (1.50%)
Management Fees rr_ManagementFeesOverAssets 0.90%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets none
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 1.94%
Total Other Expenses rr_OtherExpensesOverAssets 1.94%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.85% [1],[2]
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.59%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 1.26% [1],[2]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-11-01
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 128
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 732
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,363
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 3,061
Annual Return 2009 rr_AnnualReturn2009 46.84%
Annual Return 2010 rr_AnnualReturn2010 21.44%
Annual Return 2011 rr_AnnualReturn2011 (18.34%)
Year to Date Return, Label rr_YearToDateReturnLabel YTD Total Return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 13.51%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter During the Period Covered in the Bar Chart
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 25.82%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter During the Period Covered in the Bar Chart
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (25.94%)
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (18.34%)
Since Inception rr_AverageAnnualReturnSinceInception 13.35%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2008
CRM International Opportunity Fund (Prospectus Summary) | CRM International Opportunity Fund | Institutional Shares | After Taxes on Distributions
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (21.33%)
Since Inception rr_AverageAnnualReturnSinceInception 11.20%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2008
CRM International Opportunity Fund (Prospectus Summary) | CRM International Opportunity Fund | Institutional Shares | After Taxes on Distributions and Sales
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions and Sale of Shares
1 Year rr_AverageAnnualReturnYear01 (11.10%)
Since Inception rr_AverageAnnualReturnSinceInception 10.59%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2008
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
[2] The Adviser has a contractual obligation to waive a portion of its fees and to assume certain expenses of the Fund to the extent that the total annual fund operating expenses, excluding taxes, extraordinary expenses, brokerage commissions, interest and acquired fund fees and expenses, exceed 1.50% and 1.25% of average daily net assets of Investor Shares and Institutional Shares, respectively. These expense limitations are in effect until November 1, 2013. Prior to that date, the arrangement may be terminated for a class only by the vote of the Board of Trustees of the Fund.
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XML 22 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Oct. 26, 2012
CRM SMALL CAP VALUE FUND (Prospectus Summary) | CRM SMALL CAP VALUE FUND
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading CRM SMALL CAP VALUE FUND
Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock CRM Small Cap Value Fund seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading FEES AND EXPENSES
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table sets forth the fees and expenses that you may pay if you buy and hold
shares of the Fund.
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)
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 103%
of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 103.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading 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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses are
charged and remain the same over the time periods; and you redeemed all of your
investment at the end of each time period.

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, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of U.S. and non-U.S. companies with market
capitalizations at the time of initial purchase within the range of those in the
Russell 2000 Value Index ("small cap companies") that are publicly traded on a
U.S. securities market. The market capitalization range of the Index changes
constantly, and as a result, the capitalization of small cap companies in which
the Fund will invest will also change. As of September 30, 2012, the market
capitalization range of the Index was approximately $45 million to $3.8 billion.
For purposes of the 80% investment policy, equity and equity related securities
include: common and preferred stocks, securities convertible into common stock,
and warrants on common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to
identify those changes that are material to a company's operations, outlook and
prospects while also identifying companies that it believes have been neglected
by other investors. The Adviser utilizes a primarily qualitative research process
focused on these attributes to identify and invest in relatively undervalued
companies. These factors formulate the Adviser's investment case for each company
under consideration for investment. An important function of the Adviser's
investment process is to set a price target at which the security will be sold,
provided that there has been no fundamental change in the investment case. The
Adviser monitors each security held by the Fund to determine if the security
continues to act in accordance with the Adviser's initial assessment. Ordinarily,
once the Adviser believes that an investment case has realized its anticipated
prospects, the security will be sold. Additionally, the security would typically
be sold if the identified change does not have the expected impact on earnings
and cash flow of the company, the company's fundamentals deteriorate, or due to
other market conditions that would cause the Adviser to believe a sale would be
advisable.
Risk [Heading] rr_RiskHeading PRINCIPAL INVESTMENT RISKS
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund holds will increase in value. The
following is a summary description of certain risks of investing in the Fund.

Market Risk. Stock markets are volatile and can decline significantly in
response to adverse issuer, regulatory, market or economic developments.
Different parts of the U.S. market and different markets around the world can
react differently to these developments. When market prices fall, the value of
your investment will go down. The financial crisis that began in 2008 has caused
a significant decline in the value and liquidity of many securities of issuers
worldwide. Some governmental and non-governmental issuers (notably in Europe)
have defaulted on, or been forced to restructure, their debts, and many other
issuers have faced difficulties obtaining credit. These market conditions may
continue, worsen or spread, including in the U.S., Europe and beyond. Further
defaults or restructurings by governments and others of their debt could have
additional adverse effects on economies, financial markets and asset valuations
around the world. Whether or not the Fund invests in securities of issuers
located in or with significant exposure to countries experiencing economic and
financial difficulties, these events could negatively affect the value and
liquidity of the Fund's investments. The Fund may experience a substantial or
complete loss on any individual security. In addition, legislation recently
enacted in the U.S. calls for changes in many aspects of financial regulation.
The impact of the legislation on the markets, and the practical implications for
market participants, may not be fully known for some time.

Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that
affect particular companies or industries, including changes in market demand
for particular goods and services, increases in costs of supply, changes in
management, increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.

Portfolio Selection Risk. The value of your investment may decrease if the
Adviser's judgment about the attractiveness, value of, or market trends affecting
a particular security, industry or sector, country or region, or about market
movements, is incorrect.

Risks of Small Cap Companies. Compared to mutual funds that focus exclusively on
large capitalization companies, the Fund may be more volatile because it invests
in small capitalization companies. Small capitalization companies are more likely
to have more limited product lines, fewer capital resources and less depth of
management than larger companies. Securities of smaller companies may have
limited liquidity and may be difficult to value or to sell at an advantageous
time or without a substantial drop in price.

Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, imposition of currency
controls or restrictions, natural disasters and political, economic or social
instability. Because many foreign markets are smaller, less liquid and more
volatile, the Fund may not be able to sell portfolio securities at times, in
amounts and at prices it considers reasonable. In some foreign countries, less
information is available about issuers and markets. Foreign markets may offer
less protection to investors. Foreign stocks can fluctuate more widely in price
than comparable U.S. stocks, and they may also be less liquid. Currency
fluctuations could erase investment gains or add to investment losses.

Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological change, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.

Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur
additional operating expenses, which would reduce performance, and could cause
shareowners to incur a higher level of taxable income or capital gains.

Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.

These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.

An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund holds will increase in value.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading PERFORMANCE INFORMATION
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and the average annual total return table below illustrate
the risks and volatility of an investment in the Fund. The bar chart shows
changes in the Fund's performance from calendar year to calendar year for
Institutional Shares. The table shows how the Fund's average annual total
returns for one, five and ten years, both before and after taxes, compare
with those of the Russell 2000 Value Index and the Russell 2000 Index, two
broad based measures of market performance. This performance information
includes performance of the Fund's predecessor, the CRM Small Cap Value Fund
(a series of WT Mutual Fund), for periods from January 1, 2002 through September
30, 2005. The Fund makes updated performance information available at the Fund's
website, www.crmfunds.com/performance_daily.aspx, or at the following telephone
number: 800-CRM-2883. Of course, the Fund's past performance, both before and
after taxes, does not necessarily indicate how the Fund will perform in the
future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one, five and ten years, both before and after taxes, compare with those of the Russell 2000 Value Index and the Russell 2000 Index, two broad based measures of market performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-CRM-2883
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.crmfunds.com/performance_daily.aspx
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Calendar YTD Total Return as of September 30, 2012: 13.16%

  Best Quarter During the Period          Worst Quarter During the Period     
       Covered in the Bar Chart                 Covered in the Bar Chart        
                                      
                27.38%                                  (24.58)%                
For the quarter ended June 30, 2003   For the quarter ended September 30, 2011
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes reflects no deduction for fees, expenses or taxes
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate 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.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.
Caption rr_AverageAnnualReturnCaption Average Annual Total Returns as of December 31, 2011
CRM SMALL CAP VALUE FUND (Prospectus Summary) | CRM SMALL CAP VALUE FUND | Russell 2000 Value Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell 2000 Value Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 (5.50%)
5 Years rr_AverageAnnualReturnYear05 (1.87%)
10 Years rr_AverageAnnualReturnYear10 6.40%
CRM SMALL CAP VALUE FUND (Prospectus Summary) | CRM SMALL CAP VALUE FUND | Russell 2000 Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell 2000 Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 (4.18%)
5 Years rr_AverageAnnualReturnYear05 0.15%
10 Years rr_AverageAnnualReturnYear10 5.62%
CRM SMALL CAP VALUE FUND (Prospectus Summary) | CRM SMALL CAP VALUE FUND | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets 0.25%
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 0.08%
Total Other Expenses rr_OtherExpensesOverAssets 0.33%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.09% [1]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 111
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 347
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 601
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,329
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (13.48%)
5 Years rr_AverageAnnualReturnYear05 (0.78%)
10 Years rr_AverageAnnualReturnYear10 5.72%
CRM SMALL CAP VALUE FUND (Prospectus Summary) | CRM SMALL CAP VALUE FUND | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets none
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 0.10%
Total Other Expenses rr_OtherExpensesOverAssets 0.10%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.86% [1]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 88
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 274
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 477
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,061
Annual Return 2002 rr_AnnualReturn2002 (17.60%)
Annual Return 2003 rr_AnnualReturn2003 48.69%
Annual Return 2004 rr_AnnualReturn2004 18.11%
Annual Return 2005 rr_AnnualReturn2005 10.64%
Annual Return 2006 rr_AnnualReturn2006 14.75%
Annual Return 2007 rr_AnnualReturn2007 (3.12%)
Annual Return 2008 rr_AnnualReturn2008 (30.44%)
Annual Return 2009 rr_AnnualReturn2009 29.44%
Annual Return 2010 rr_AnnualReturn2010 28.64%
Annual Return 2011 rr_AnnualReturn2011 (13.28%)
Year to Date Return, Label rr_YearToDateReturnLabel YTD Total Return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 13.16%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter During the Period Covered in the Bar Chart
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2003
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 27.38%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter During the Period Covered in the Bar Chart
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (24.58%)
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (13.28%)
5 Years rr_AverageAnnualReturnYear05 (0.54%)
10 Years rr_AverageAnnualReturnYear10 5.98%
CRM SMALL CAP VALUE FUND (Prospectus Summary) | CRM SMALL CAP VALUE FUND | Institutional Shares | After Taxes on Distributions
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (15.52%)
5 Years rr_AverageAnnualReturnYear05 (1.71%)
10 Years rr_AverageAnnualReturnYear10 4.52%
CRM SMALL CAP VALUE FUND (Prospectus Summary) | CRM SMALL CAP VALUE FUND | Institutional Shares | After Taxes on Distributions and Sales
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions and Sale of Shares
1 Year rr_AverageAnnualReturnYear01 (6.07%)
5 Years rr_AverageAnnualReturnYear05 (0.66%)
10 Years rr_AverageAnnualReturnYear10 4.82%
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
XML 23 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Jun. 30, 2012
Registrant Name dei_EntityRegistrantName CRM Mutual Fund Trust
Central Index Key dei_EntityCentralIndexKey 0001322252
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Oct. 26, 2012
Document Effective Date dei_DocumentEffectiveDate Oct. 26, 2012
CRM SMALL CAP VALUE FUND (Prospectus Summary) | CRM SMALL CAP VALUE FUND | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRMSX
CRM SMALL CAP VALUE FUND (Prospectus Summary) | CRM SMALL CAP VALUE FUND | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRISX
CRM SMALL/MID CAP VALUE FUND (Prospectus Summary) | CRM SMALL/MID CAP VALUE FUND | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRMAX
CRM SMALL/MID CAP VALUE FUND (Prospectus Summary) | CRM SMALL/MID CAP VALUE FUND | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRIAX
CRM MID CAP VALUE FUND (Prospectus Summary) | CRM MID CAP VALUE FUND | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRMMX
CRM MID CAP VALUE FUND (Prospectus Summary) | CRM MID CAP VALUE FUND | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRIMX
CRM LARGE CAP OPPORTUNITY FUND (Prospectus Summary) | CRM LARGE CAP OPPORTUNITY FUND | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRMGX
CRM LARGE CAP OPPORTUNITY FUND (Prospectus Summary) | CRM LARGE CAP OPPORTUNITY FUND | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRIGX
CRM All Cap Value Fund (Prospectus Summary) | CRM All Cap Value Fund | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRMEX
CRM All Cap Value Fund (Prospectus Summary) | CRM All Cap Value Fund | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRIEX
CRM Global Opportunity Fund (Prospectus Summary) | CRM Global Opportunity Fund | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRMWX
CRM Global Opportunity Fund (Prospectus Summary) | CRM Global Opportunity Fund | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRIWX
CRM International Opportunity Fund (Prospectus Summary) | CRM International Opportunity Fund | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRMIX
CRM International Opportunity Fund (Prospectus Summary) | CRM International Opportunity Fund | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CRIIX
XML 24 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Oct. 26, 2012
CRM MID CAP VALUE FUND (Prospectus Summary) | CRM MID CAP VALUE FUND
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading CRM MID CAP VALUE FUND
Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock CRM Mid Cap Value Fund seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading FEES AND EXPENSES
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table sets forth the fees and expenses that you may pay if you buy and hold
shares of the Fund.
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)
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 105%
of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 105.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading 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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses are
charged and remain the same over the time periods; and you redeemed all of your
investment at the end of each time period.

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, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of U.S. and non-U.S. companies with market
capitalizations at the time of initial purchase within the range of those in
the Russell Midcap Value Index ("mid cap companies") that are publicly traded
on a U.S. securities market. The market capitalization range of the Index
changes constantly, and as a result, the capitalization of mid cap companies
in which the Fund will invest will also change. As of September 30, 2012, the
market capitalization range of the Index was approximately $300 million to
$18.7 billion. For purposes of the 80% investment policy, equity and equity
related securities include: common and preferred stocks, securities convertible
into common stock, and warrants on common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to
identify those changes that are material to a company's operations, outlook and
prospects while also identifying companies that it believes have been neglected
by other investors. The Adviser utilizes a primarily qualitative research process
focused on these attributes to identify and invest in relatively undervalued
companies. These factors formulate the Adviser's investment case for each company
under consideration for investment. An important function of the Adviser's
investment process is to set a price target at which the security will be sold,
provided that there has been no fundamental change in the investment case. The
Adviser monitors each security held by the Fund to determine if the security
continues to act in accordance with the Adviser's initial assessment. Ordinarily,
once the Adviser believes that an investment case has realized its anticipated
prospects, the security will be sold. Additionally, the security would typically
be sold if the identified change does not have the expected impact on earnings and
cash flow of the company or a company's fundamentals deteriorate, or due to other
market conditions that would cause the Adviser to believe a sale would be advisable.
Risk [Heading] rr_RiskHeading PRINCIPAL INVESTMENT RISKS
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund buys will increase in value. The
following is a summary description of certain risks of investing in the Fund.

Market Risk. Stock markets are volatile and can decline significantly in
response to adverse issuer, regulatory, market or economic developments.
Different parts of the U.S. market and different markets around the world can
react differently to these developments. When market prices fall, the value of
your investment will go down. The financial crisis that began in 2008 has caused
a significant decline in the value and liquidity of many securities of issuers
worldwide. Some governmental and non-governmental issuers (notably in Europe)
have defaulted on, or been forced to restructure, their debts, and many other
issuers have faced difficulties obtaining credit. These market conditions may
continue, worsen or spread, including in the U.S., Europe and beyond. Further
defaults or restructurings by governments and others of their debt could have
additional adverse effects on economies, financial markets and asset valuations
around the world. Whether or not the Fund invests in securities of issuers
located in or with significant exposure to countries experiencing economic and
financial difficulties, these events could negatively affect the value and
liquidity of the Fund's investments. The Fund may experience a substantial or
complete loss on any individual security. In addition, legislation recently
enacted in the U.S. calls for changes in many aspects of financial regulation.
The impact of the legislation on the markets, and the practical implications for
market participants, may not be fully known for some time.

Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that
affect particular companies or industries, including changes in market demand
for particular goods and services, increases in costs of supply, changes in
management, increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.

Portfolio Selection Risk. The value of your investment may decrease if the
Adviser's judgment about the attractiveness, value of, or market trends affecting
a particular security, industry or sector, country or region, or about market
movements, is incorrect.

Risks of Mid Cap Companies. Compared to mutual funds that focus exclusively on
large capitalization companies, the Fund may be more volatile because it invests
in mid capitalization companies. Mid capitalization companies are more likely to
have more limited product lines, fewer capital resources and less depth of
management than larger companies.

Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, imposition of currency
controls or restrictions, natural disasters and political, economic or social
instability. Because many foreign markets are smaller, less liquid and more
volatile, the Fund may not be able to sell portfolio securities at times, in
amounts and at prices it considers reasonable. In some foreign countries, less
information is available about issuers and markets. Foreign markets may offer
less protection to investors. Foreign stocks can fluctuate more widely in price
than comparable U.S. stocks, and they may also be less liquid. Currency
fluctuations could erase investment gains or add to investment losses.

Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological changes, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.

Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur additional
operating expenses, which would reduce performance, and could cause shareowners to
incur a higher level of taxable income or capital gains.

Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.

These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.

An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund buys will increase in value.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading PERFORMANCE INFORMATION
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and the average annual total return table below illustrate the
risks and volatility of an investment in the Fund. The bar chart shows changes
in the Fund's performance from calendar year to calendar year for Institutional
Shares. The table shows how the Fund's average annual total returns for one,
five and ten years, both before and after taxes, compare with those of the
Russell Midcap Value Index and the Russell Midcap Index, two broad based
measures of market performance. This performance information includes
performance of the Fund's predecessor, the CRM Mid Cap Value Fund (a series of
WT Mutual Fund), for periods from January 1, 2002 through September 30, 2005.
The Fund makes updated performance information available at the Fund's website,
www.crmfunds.com/performance_daily.aspx, or at the following telephone number:
800-CRM-2883. Of course, the Fund's past performance, both before and after
taxes, does not necessarily indicate how the Fund will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one, five and ten years, both before and after taxes, compare with those of the Russell Midcap Value Index and the Russell Midcap Index, two broad based measures of market performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-CRM-2883
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.crmfunds.com/performance_daily.aspx
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Calendar YTD Total Return as of September 30, 2012: 13.60%

    Best Quarter During the Period          Worst Quarter During the Period    
       Covered in the Bar Chart                Covered in the Bar Chart        
                                      
                18.00%                                 (22.24)%                
For the quarter ended June 30, 2003   For the quarter ended December 31, 2008
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes reflects no deduction for fees, expenses or taxes
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate 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.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.
Caption rr_AverageAnnualReturnCaption Average Annual Total Returns as of December 31, 2011
CRM MID CAP VALUE FUND (Prospectus Summary) | CRM MID CAP VALUE FUND | Russell Midcap Value Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell Midcap Value Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 (1.38%)
5 Years rr_AverageAnnualReturnYear05 0.04%
10 Years rr_AverageAnnualReturnYear10 7.67%
CRM MID CAP VALUE FUND (Prospectus Summary) | CRM MID CAP VALUE FUND | Russell Midcap Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell Midcap Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 (1.55%)
5 Years rr_AverageAnnualReturnYear05 1.41%
10 Years rr_AverageAnnualReturnYear10 6.99%
CRM MID CAP VALUE FUND (Prospectus Summary) | CRM MID CAP VALUE FUND | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.69%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets 0.25%
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 0.08%
Total Other Expenses rr_OtherExpensesOverAssets 0.33%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.03% [1]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 105
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 328
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 569
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,259
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (7.13%)
5 Years rr_AverageAnnualReturnYear05 0.21%
10 Years rr_AverageAnnualReturnYear10 6.44%
CRM MID CAP VALUE FUND (Prospectus Summary) | CRM MID CAP VALUE FUND | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.69%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets none
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 0.12%
Total Other Expenses rr_OtherExpensesOverAssets 0.12%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.82% [1]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 84
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 262
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 455
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,014
Annual Return 2002 rr_AnnualReturn2002 (16.67%)
Annual Return 2003 rr_AnnualReturn2003 41.92%
Annual Return 2004 rr_AnnualReturn2004 24.98%
Annual Return 2005 rr_AnnualReturn2005 7.96%
Annual Return 2006 rr_AnnualReturn2006 17.26%
Annual Return 2007 rr_AnnualReturn2007 10.43%
Annual Return 2008 rr_AnnualReturn2008 (35.03%)
Annual Return 2009 rr_AnnualReturn2009 28.65%
Annual Return 2010 rr_AnnualReturn2010 18.88%
Annual Return 2011 rr_AnnualReturn2011 (6.94%)
Year to Date Return, Label rr_YearToDateReturnLabel YTD Total Return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 13.60%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter During the Period Covered in the Bar Chart
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2003
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 18.00%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter During the Period Covered in the Bar Chart
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (22.24%)
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (6.94%)
5 Years rr_AverageAnnualReturnYear05 0.42%
10 Years rr_AverageAnnualReturnYear10 6.69%
CRM MID CAP VALUE FUND (Prospectus Summary) | CRM MID CAP VALUE FUND | Institutional Shares | After Taxes on Distributions
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (7.20%)
5 Years rr_AverageAnnualReturnYear05 (0.21%)
10 Years rr_AverageAnnualReturnYear10 6.03%
CRM MID CAP VALUE FUND (Prospectus Summary) | CRM MID CAP VALUE FUND | Institutional Shares | After Taxes on Distributions and Sales
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions and Sale of Shares
1 Year rr_AverageAnnualReturnYear01 (4.52%)
5 Years rr_AverageAnnualReturnYear05 0.14%
10 Years rr_AverageAnnualReturnYear10 5.65%
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
XML 25 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Oct. 26, 2012
CRM SMALL/MID CAP VALUE FUND (Prospectus Summary) | CRM SMALL/MID CAP VALUE FUND
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading SMALL/MID CAP VALUE FUND
Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock CRM Small/Mid Cap Value Fund seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading FEES AND EXPENSES
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table sets forth the fees and expenses that you may pay if you buy and hold
shares of the Fund.
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)
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 96%
of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 96.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading 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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses are
charged and remain the same over the time periods; and you redeemed all of your
investment at the end of each time period.

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, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of U.S. and non-U.S. companies with market
capitalizations at the time of initial purchase within the range of those in
the Russell 2500 Value Index or in the S&P Mid Cap 400 Value Index (together,
"small/mid cap companies") that are publicly traded on a U.S. securities market.
The market capitalization ranges of the Indices change constantly, and as a
result, the capitalization of small/mid cap companies in which the Fund will
invest will also change. As of September 30, 2012, the market capitalization
range of the Russell 2500 Value Index was approximately $45 million to $8.5
billion, and the market capitalization range of the S&P Mid Cap 400 Value
Index was approximately $237 million to $14.7 billion. For purposes of the 80%
investment policy, equity and equity related securities include: common and
preferred stocks, securities convertible into common stock, and warrants on
common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to identify
those changes that are material to a company's operations, outlook and prospects
while also identifying companies that it believes have been neglected by other
investors. The Adviser utilizes a primarily qualitative research process focused
on these attributes to identify and invest in relatively undervalued companies.
These factors formulate the Adviser's investment case for each company under
consideration for investment. An important function of the Adviser's investment
process is to set a price target at which the security will be sold, provided
that there has been no fundamental change in the investment case. The Adviser
monitors each security held by the Fund to determine if the security continues
to act in accordance with the Adviser's initial assessment. Ordinarily, once
the Adviser believes that an investment case has realized its anticipated
prospects, the security will be sold. Additionally, the security would typically
be sold if the identified change does not have the expected impact on earnings
and cash flow of the company or a company's fundamentals deteriorate, or due to
other market conditions that would cause the Adviser to believe a sale would be
advisable.
Risk [Heading] rr_RiskHeading PRINCIPAL INVESTMENT RISKS
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund buys will increase in value. The
following is a summary description of certain risks of investing in the Fund.

Market Risk. Stock markets are volatile and can decline significantly in
response to adverse issuer, regulatory, market or economic developments.
Different parts of the U.S. market and different markets around the world can
react differently to these developments. When market prices fall, the value of
your investment will go down. The financial crisis that began in 2008 has caused
a significant decline in the value and liquidity of many securities of issuers
worldwide. Some governmental and non-governmental issuers (notably in Europe)
have defaulted on, or been forced to restructure, their debts, and many other
issuers have faced difficulties obtaining credit. These market conditions may
continue, worsen or spread, including in the U.S., Europe and beyond. Further
defaults or restructurings by governments and others of their debt could have
additional adverse effects on economies, financial markets and asset valuations
around the world. Whether or not the Fund invests in securities of issuers
located in or with significant exposure to countries experiencing economic and
financial difficulties, these events could negatively affect the value and
liquidity of the Fund's investments. The Fund may experience a substantial or
complete loss on any individual security. In addition, legislation recently
enacted in the U.S. calls for changes in many aspects of financial regulation.
The impact of the legislation on the markets, and the practical implications for
market participants, may not be fully known for some time.

Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that affect
particular companies or industries, including changes in market demand for
particular goods and services, increases in costs of supply, changes in
management, increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.

Portfolio Selection Risk. The value of your investment may decrease if the
Adviser's judgment about the attractiveness, value of, or market trends affecting
a particular security, industry or sector, country or region, or about market
movements, is incorrect.

Risks of Small and Mid Cap Companies. Compared to mutual funds that focus
exclusively on large capitalization companies, the Fund may be more volatile
because it invests in small and/or mid capitalization companies. Small and mid
capitalization companies are more likely to have more limited product lines,
fewer capital resources and less depth of management than larger companies.
Securities of smaller companies may have limited liquidity and may be difficult
to value or to sell at an advantageous time or without a substantial drop in
price.

Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, imposition of currency
controls or restrictions, natural disasters and political, economic or social
instability. Because many foreign markets are smaller, less liquid and more
volatile, the Fund may not be able to sell portfolio securities at times, in
amounts and at prices it considers reasonable. In some foreign countries, less
information is available about issuers and markets. Foreign markets may offer
less protection to investors. Foreign stocks can fluctuate more widely in price
than comparable U.S. stocks, and they may also be less liquid. Currency
fluctuations could erase investment gains or add to investment losses.

Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological changes, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.

Portfolio Turnover Risk.If the Fund does a lot of trading, it may incur additional
operating expenses, which would reduce performance, and could cause shareowners to
incur a higher level of taxable income or capital gains.

Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.

These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.

An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund buys will increase in value.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading PERFORMANCE INFORMATION
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and the average annual total return table below illustrate the risks
and volatility of an investment in the Fund. The bar chart shows changes in the
Fund's performance from calendar year to calendar year for Institutional Shares.
The table shows how the Fund's average annual total returns for one year, five
years and since inception, both before and after taxes, compare with those of the
Russell 2500 Value Index and the Russell 2500 Index, two broad based measures of
market performance. This performance information includes performance of the Fund's
predecessor, the CRM Small/Mid Cap Value Fund (a series of WT Mutual Fund) for
periods from September 1, 2004 (commencement of operations) through September 30,
2005. Total returns would have been lower had certain fees and expenses not been
waived. The Fund makes updated performance information available at the Fund's
website, www.crmfunds.com/performance_daily.aspx, or at the following telephone
number: 800-CRM-2883. Of course, the Fund's past performance, both before and
after taxes, does not necessarily indicate how the Fund will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one year, five years and since inception, both before and after taxes, compare with those of the Russell 2500 Value Index and the Russell 2500 Index, two broad based measures of market performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-CRM-2883
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.crmfunds.com/performance_daily.aspx
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading ANNUAL TOTAL RETURNS FOR THE INSITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Calendar YTD Total Return as of September 30, 2012: 14.12%

   Best Quarter During the Period             Worst Quarter During the Period     
        Covered in the Bar Chart                    Covered in the Bar Chart        
                                         
                 15.75%                                     (22.70)%                
For the quarter ended December 31, 2010     For the quarter ended September 30, 2011
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes reflects no deduction for fees, expenses or taxes
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate 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.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.
Caption rr_AverageAnnualReturnCaption Average Annual Total Returns as of December 31, 2011
CRM SMALL/MID CAP VALUE FUND (Prospectus Summary) | CRM SMALL/MID CAP VALUE FUND | Russell 2500 Value Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell 2500 Value Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 (3.36%)
5 Years rr_AverageAnnualReturnYear05 (0.58%)
Since Inception rr_AverageAnnualReturnSinceInception 5.44%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 01, 2004
CRM SMALL/MID CAP VALUE FUND (Prospectus Summary) | CRM SMALL/MID CAP VALUE FUND | Russell 2500 Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell 2500 Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 (2.51%)
5 Years rr_AverageAnnualReturnYear05 1.24%
Since Inception rr_AverageAnnualReturnSinceInception 6.47%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 01, 2004
CRM SMALL/MID CAP VALUE FUND (Prospectus Summary) | CRM SMALL/MID CAP VALUE FUND | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets 0.25%
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 0.08%
Total Other Expenses rr_OtherExpensesOverAssets 0.33%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.09% [1]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 111
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 347
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 601
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,329
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (5.38%)
5 Years rr_AverageAnnualReturnYear05 1.97%
Since Inception rr_AverageAnnualReturnSinceInception 6.88%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 01, 2004
CRM SMALL/MID CAP VALUE FUND (Prospectus Summary) | CRM SMALL/MID CAP VALUE FUND | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets none
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 0.12%
Total Other Expenses rr_OtherExpensesOverAssets 0.12%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.88% [1]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 90
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 281
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 488
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,084
Annual Return 2005 rr_AnnualReturn2005 6.76%
Annual Return 2006 rr_AnnualReturn2006 19.35%
Annual Return 2007 rr_AnnualReturn2007 8.49%
Annual Return 2008 rr_AnnualReturn2008 (31.36%)
Annual Return 2009 rr_AnnualReturn2009 27.49%
Annual Return 2010 rr_AnnualReturn2010 24.01%
Annual Return 2011 rr_AnnualReturn2011 (5.20%)
Year to Date Return, Label rr_YearToDateReturnLabel YTD Total Return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 14.12%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter During the Period Covered in the Bar Chart
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2010
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 15.75%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter During the Period Covered in the Bar Chart
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (22.70%)
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (5.20%)
5 Years rr_AverageAnnualReturnYear05 2.22%
Since Inception rr_AverageAnnualReturnSinceInception 7.14%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 01, 2004
CRM SMALL/MID CAP VALUE FUND (Prospectus Summary) | CRM SMALL/MID CAP VALUE FUND | Institutional Shares | After Taxes on Distributions
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (6.78%)
5 Years rr_AverageAnnualReturnYear05 1.52%
Since Inception rr_AverageAnnualReturnSinceInception 6.39%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 01, 2004
CRM SMALL/MID CAP VALUE FUND (Prospectus Summary) | CRM SMALL/MID CAP VALUE FUND | Institutional Shares | After Taxes on Distributions and Sales
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions and Sale of Shares
1 Year rr_AverageAnnualReturnYear01 (2.24%)
5 Years rr_AverageAnnualReturnYear05 1.67%
Since Inception rr_AverageAnnualReturnSinceInception 5.95%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 01, 2004
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
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M\-2^-O\`H%^'/_`>?_X]1<+'V917QG_PU+XV_P"@7X<_\!Y__CU'_#4OC;_H M%^'/_`>?_P"/47"Q]F45\9_\-2^-O^@7X<_\!Y__`(]1_P`-2^-O^@7X<_\` M`>?_`./47"Q]F45\9_\`#4OC;_H%^'/_``'G_P#CU'_#4OC;_H%^'/\`P'G_ M`/CU%PL?9E%?&?\`PU+XV_Z!?AS_`,!Y_P#X]1_PU+XV_P"@7X<_\!Y__CU% MPL?9E%?&?_#4OC;_`*!?AS_P'G_^/4?\-2^-O^@7X<_\!Y__`(]1<+'U'\5? M^27^,/\`L#7G_HAZ*^3?$'[2'B_7=!U+2;O3M`2VO[:6UE:*"8.$D4J2I,I& +<$XR#1429<4?_]D` ` end XML 27 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
CRM MID CAP VALUE FUND (Prospectus Summary) | CRM MID CAP VALUE FUND
CRM MID CAP VALUE FUND
INVESTMENT OBJECTIVE
CRM Mid Cap Value Fund seeks long-term capital appreciation.
FEES AND EXPENSES
This table sets forth the fees and expenses that you may pay if you buy and hold
shares of the Fund.
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses CRM MID CAP VALUE FUND
Investor Shares
Institutional Shares
Management Fees 0.69% 0.69%
Distribution (12b-1) Fees none none
Shareholder Servicing Fee 0.25% none
Other Miscellaneous Expenses 0.08% 0.12%
Total Other Expenses 0.33% 0.12%
Acquired Fund Fees and Expenses 0.01% 0.01%
Total Annual Fund Operating Expenses [1] 1.03% 0.82%
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses are
charged and remain the same over the time periods; and you redeemed all of your
investment at the end of each time period.

Although your actual costs may be higher or lower based on these assumptions,
your costs would be:
Expense Example CRM MID CAP VALUE FUND (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Investor Shares
105 328 569 1,259
Institutional Shares
84 262 455 1,014
PORTFOLIO TURNOVER
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 105%
of the average value of its portfolio.
PRINCIPAL INVESTMENT STRATEGIES
The Fund, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of U.S. and non-U.S. companies with market
capitalizations at the time of initial purchase within the range of those in
the Russell Midcap Value Index ("mid cap companies") that are publicly traded
on a U.S. securities market. The market capitalization range of the Index
changes constantly, and as a result, the capitalization of mid cap companies
in which the Fund will invest will also change. As of September 30, 2012, the
market capitalization range of the Index was approximately $300 million to
$18.7 billion. For purposes of the 80% investment policy, equity and equity
related securities include: common and preferred stocks, securities convertible
into common stock, and warrants on common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to
identify those changes that are material to a company's operations, outlook and
prospects while also identifying companies that it believes have been neglected
by other investors. The Adviser utilizes a primarily qualitative research process
focused on these attributes to identify and invest in relatively undervalued
companies. These factors formulate the Adviser's investment case for each company
under consideration for investment. An important function of the Adviser's
investment process is to set a price target at which the security will be sold,
provided that there has been no fundamental change in the investment case. The
Adviser monitors each security held by the Fund to determine if the security
continues to act in accordance with the Adviser's initial assessment. Ordinarily,
once the Adviser believes that an investment case has realized its anticipated
prospects, the security will be sold. Additionally, the security would typically
be sold if the identified change does not have the expected impact on earnings and
cash flow of the company or a company's fundamentals deteriorate, or due to other
market conditions that would cause the Adviser to believe a sale would be advisable.
PRINCIPAL INVESTMENT RISKS
It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund buys will increase in value. The
following is a summary description of certain risks of investing in the Fund.

Market Risk. Stock markets are volatile and can decline significantly in
response to adverse issuer, regulatory, market or economic developments.
Different parts of the U.S. market and different markets around the world can
react differently to these developments. When market prices fall, the value of
your investment will go down. The financial crisis that began in 2008 has caused
a significant decline in the value and liquidity of many securities of issuers
worldwide. Some governmental and non-governmental issuers (notably in Europe)
have defaulted on, or been forced to restructure, their debts, and many other
issuers have faced difficulties obtaining credit. These market conditions may
continue, worsen or spread, including in the U.S., Europe and beyond. Further
defaults or restructurings by governments and others of their debt could have
additional adverse effects on economies, financial markets and asset valuations
around the world. Whether or not the Fund invests in securities of issuers
located in or with significant exposure to countries experiencing economic and
financial difficulties, these events could negatively affect the value and
liquidity of the Fund's investments. The Fund may experience a substantial or
complete loss on any individual security. In addition, legislation recently
enacted in the U.S. calls for changes in many aspects of financial regulation.
The impact of the legislation on the markets, and the practical implications for
market participants, may not be fully known for some time.

Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that
affect particular companies or industries, including changes in market demand
for particular goods and services, increases in costs of supply, changes in
management, increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.

Portfolio Selection Risk. The value of your investment may decrease if the
Adviser's judgment about the attractiveness, value of, or market trends affecting
a particular security, industry or sector, country or region, or about market
movements, is incorrect.

Risks of Mid Cap Companies. Compared to mutual funds that focus exclusively on
large capitalization companies, the Fund may be more volatile because it invests
in mid capitalization companies. Mid capitalization companies are more likely to
have more limited product lines, fewer capital resources and less depth of
management than larger companies.

Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, imposition of currency
controls or restrictions, natural disasters and political, economic or social
instability. Because many foreign markets are smaller, less liquid and more
volatile, the Fund may not be able to sell portfolio securities at times, in
amounts and at prices it considers reasonable. In some foreign countries, less
information is available about issuers and markets. Foreign markets may offer
less protection to investors. Foreign stocks can fluctuate more widely in price
than comparable U.S. stocks, and they may also be less liquid. Currency
fluctuations could erase investment gains or add to investment losses.

Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological changes, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.

Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur additional
operating expenses, which would reduce performance, and could cause shareowners to
incur a higher level of taxable income or capital gains.

Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.

These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.

An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
PERFORMANCE INFORMATION
The bar chart and the average annual total return table below illustrate the
risks and volatility of an investment in the Fund. The bar chart shows changes
in the Fund's performance from calendar year to calendar year for Institutional
Shares. The table shows how the Fund's average annual total returns for one,
five and ten years, both before and after taxes, compare with those of the
Russell Midcap Value Index and the Russell Midcap Index, two broad based
measures of market performance. This performance information includes
performance of the Fund's predecessor, the CRM Mid Cap Value Fund (a series of
WT Mutual Fund), for periods from January 1, 2002 through September 30, 2005.
The Fund makes updated performance information available at the Fund's website,
www.crmfunds.com/performance_daily.aspx, or at the following telephone number:
800-CRM-2883. Of course, the Fund's past performance, both before and after
taxes, does not necessarily indicate how the Fund will perform in the future.
ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31
Bar Chart
Calendar YTD Total Return as of September 30, 2012: 13.60%

    Best Quarter During the Period          Worst Quarter During the Period    
       Covered in the Bar Chart                Covered in the Bar Chart        
                                      
                18.00%                                 (22.24)%                
For the quarter ended June 30, 2003   For the quarter ended December 31, 2008
Average Annual Total Returns as of December 31, 2011
Average Annual Total Returns CRM MID CAP VALUE FUND
Label
1 Year
5 Years
10 Years
Investor Shares
Before Taxes (7.13%) 0.21% 6.44%
Institutional Shares
Before Taxes (6.94%) 0.42% 6.69%
Institutional Shares After Taxes on Distributions
After Taxes on Distributions (7.20%) (0.21%) 6.03%
Institutional Shares After Taxes on Distributions and Sales
After Taxes on Distributions and Sale of Shares (4.52%) 0.14% 5.65%
Russell Midcap Value Index
Russell Midcap Value Index (reflects no deduction for fees, expenses or taxes) (1.38%) 0.04% 7.67%
Russell Midcap Index
Russell Midcap Index (reflects no deduction for fees, expenses or taxes) (1.55%) 1.41% 6.99%
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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.
XML 28 R26.htm IDEA: XBRL DOCUMENT v2.4.0.6
CRM All Cap Value Fund (Prospectus Summary) | CRM All Cap Value Fund
CRM ALL CAP VALUE FUND
INVESTMENT OBJECTIVE
CRM All Cap Value Fund seeks long-term capital appreciation.
FEES AND EXPENSES
This table sets forth the fees and expenses that you may pay if you buy and hold
shares of the Fund.
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses CRM All Cap Value Fund
Investor Shares
Institutional Shares
Management Fees 0.95% 0.95%
Distribution (12b-1) Fees none none
Shareholder Servicing Fee 0.25% none
Other Miscellaneous Expenses 0.38% 0.38%
Total Other Expenses 0.63% 0.38%
Acquired Fund Fees and Expenses 0.01% 0.01%
Total Annual Fund Operating Expenses [1][2] 1.59% 1.34%
Fee Waiver and Expense Reimbursement [2] (0.08%) (0.08%)
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement [1][2] 1.51% 1.26%
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
[2] The Adviser has a contractual obligation to waive a portion of its fees and to assume certain expenses of the Fund to the extent that the total annual fund operating expenses, excluding taxes, extraordinary expenses, brokerage commissions, interest and acquired fund fees and expenses, exceed 1.50% and 1.25% of average daily net assets of Investor Shares and Institutional Shares, respectively. These expense limitations are in effect until November 1, 2013. Prior to that date, the arrangement may be terminated for a class only by the vote of the Board of Trustees of the Fund.
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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses
(reflecting applicable contractual fee waivers and expense reimbursement
arrangements) are charged and remain the same over the time periods; and
you redeemed all of your investment at the end of each time period.

Although your actual costs may be higher or lower based on these assumptions,
your costs would be:
Expense Example CRM All Cap Value Fund (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Investor Shares
154 494 858 1,882
Institutional Shares
128 417 726 1,606
PORTFOLIO TURNOVER
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 145%
of the average value of its portfolio.
PRINCIPAL INVESTMENT STRATEGIES
The Fund, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of U.S. and non-U.S. companies that are
publicly traded on a U.S. securities market. There are no limits on the market
capitalizations of the companies in which the Fund may invest. For purposes of
the 80% investment policy, equity and equity related securities include: common
and preferred stocks, securities convertible into common stock, and warrants on
common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to identify
those changes that are material to a company's operations, outlook and prospects
while also identifying companies that it believes have been neglected by other
investors. The Adviser utilizes a primarily qualitative research process focused
on these attributes to identify and invest in relatively undervalued companies.
These factors formulate the Adviser's investment case for each company under
consideration for investment. An important function of the Adviser's investment
process is to set a price target at which the security will be sold, provided
that there has been no fundamental change in the investment case. The Adviser
monitors each security held by the Fund to determine if the security continues
to act in accordance with the Adviser's initial assessment. Ordinarily, once the
Adviser believes that an investment case has realized its anticipated prospects,
the security will be sold. Additionally, the security would typically be sold if
the identified change does not have the expected impact on earnings and cash flow
of the company or a company's fundamentals deteriorate, or due to other market
conditions that would cause the Adviser to believe a sale would be advisable.
PRINCIPAL INVESTMENT RISKS
It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund buys will increase in value. The
following is a summary description of certain risks of investing in the Fund.

Market Risk. Stock markets are volatile and can decline significantly in response
to adverse issuer, regulatory, market or economic developments. Different parts
of the U.S. market and different markets around the world can react differently
to these developments. When market prices fall, the value of your investment
will go down. The financial crisis that began in 2008 has caused a significant
decline in the value and liquidity of many securities of issuers worldwide.
Some governmental and non-governmental issuers (notably in Europe) have
defaulted on, or been forced to restructure, their debts, and many other issuers
have faced difficulties obtaining credit. These market conditions may continue,
worsen or spread, including in the U.S., Europe and beyond. Further defaults or
restructurings by governments and others of their debt could have additional
adverse effects on economies, financial markets and asset valuations around the
world. Whether or not the Fund invests in securities of issuers located in or
with significant exposure to countries experiencing economic and financial
difficulties, these events could negatively affect the value and liquidity of
the Fund's investments. The Fund may experience a substantial or complete loss
on any individual security. In addition, legislation recently enacted in the
U.S. calls for changes in many aspects of financial regulation. The impact of
the legislation on the markets, and the practical implications for market
participants, may not be fully known for some time.

Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that affect
particular companies or industries, including changes in market demand for
particular goods and services, increases in costs of supply, changes in management,
increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.

Portfolio Selection Risk. The value of your investment may decrease if the
Adviser's judgment about the attractiveness, value of, or market trends affecting
a particular security, industry or sector, country or region, or about market
movements, is incorrect.

Risks of Small and Mid Cap Companies. Compared to mutual funds that focus
exclusively on large capitalization companies, the Fund may be more volatile
because it also invests in small and/or mid capitalization companies. Small and
mid capitalization companies are more likely to have more limited product lines,
fewer capital resources and less depth of management than larger companies.
Securities of smaller companies may have limited liquidity and may be difficult
to value or to sell at an advantageous time or without a substantial drop in
price.

Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, imposition of currency
controls or restrictions, natural disasters and political, economic or social
instability. Because many foreign markets are smaller, less liquid and more
volatile, the Fund may not be able to sell portfolio securities at times, in
amounts and at prices it considers reasonable. In some foreign countries, less
information is available about issuers and markets. Foreign markets may offer
less protection to investors. Foreign stocks can fluctuate more widely in price
than comparable U.S. stocks, and they may also be less liquid. Currency
fluctuations could erase investment gains or add to investment losses.

Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological changes, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.

Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur
additional operating expenses, which would reduce performance, and could cause
shareowners to incur a higher level of taxable income or capital gains.

Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.

These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.

An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
PERFORMANCE INFORMATION
The bar chart and the average annual total return table below illustrate the risks
and volatility of an investment in the Fund. The bar chart shows changes in the
Fund's performance from calendar year to calendar year for Institutional Shares.
The table shows how the Fund's average annual total returns for one year, five
years and since inception, both before and after taxes, compare with those of the
Russell 3000 Value Index and the Russell 3000 Index, two broad-based measures of
market performance. Total returns would have been lower had certain fees and
expenses not been waived. The Fund makes updated performance information available
at the Fund's website, www.crmfunds.com/performance_daily.aspx, or at the following
telephone number: 800-CRM-2883. Of course, the Fund's past performance, both before
and after taxes, does not necessarily indicate how the Fund will perform in the future.
ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31
Bar Chart
Calendar YTD Total Return as of September 30, 2012: 16.23%

  Best Quarter During the Period        Worst Quarter During the Period    
       Covered in the Bar Chart               Covered in the Bar Chart        
                                      
                17.89%                                 (23.47)%                
For the quarter ended June 30, 2009   For the quarter ended December 31, 2008
Average Annual Total Returns as of December 31, 2011
Average Annual Total Returns CRM All Cap Value Fund
Label
1 Year
5 Years
Since Inception
Inception Date
Investor Shares
Before Taxes (9.91%) (1.57%) (0.95%) Oct. 24, 2006
Institutional Shares
Before Taxes (9.67%) (1.31%) (0.69%) Oct. 24, 2006
Institutional Shares After Taxes on Distributions
After Taxes on Distributions (10.01%) (1.52%) (0.91%) Oct. 24, 2006
Institutional Shares After Taxes on Distributions and Sales
After Taxes on Distributions and Sale of Shares (5.88%) (1.16%) (0.64%) Oct. 24, 2006
Russell 3000 Value Index
Russell 3000 Value Index (reflects no deduction for fees, expenses or taxes) (0.10%) (2.58%) (1.61%) Oct. 24, 2006
Russell 3000 Index
Russell 3000 Index (reflects no deduction for fees, expenses or taxes) 1.03% (0.01%) 0.66% Oct. 24, 2006
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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.
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Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Oct. 26, 2012
CRM Global Opportunity Fund (Prospectus Summary) | CRM Global Opportunity Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading CRM GLOBAL OPPORTUNITY FUND
Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock CRM Global Opportunity Fund seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading FEES AND EXPENSES
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table sets forth 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)
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 191%
of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 191.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading 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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses
(reflecting applicable contractual fee waivers and expense reimbursement
arrangements) are charged and remain the same over the time periods; and you
redeemed all of your investment at the end of each time period.

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, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of U.S. and foreign companies. The Fund
normally invests in the securities of companies that are tied economically to at
least 10 countries, including the U.S. The Fund may invest in companies located
in developed and emerging markets. Emerging markets include countries that have
an emerging stock market as defined by Standard & Poor's, Inc., countries or
markets with low- to middle-income economies as classified by the World Bank,
and other countries or markets with similar emerging characteristics. The Fund
may at any one time invest all or substantially all of its assets in foreign
companies and at another time invest substantially in U.S. companies, although,
under normal market conditions, it is expected that a majority of the Fund's
assets will be invested in foreign companies. The Fund may invest in companies
of any size. For purposes of the 80% investment policy, equity and equity
related securities include: common and preferred stocks, securities convertible
into common stock, and warrants on common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to identify
those changes that are material to a company's operations, outlook and prospects
while also identifying companies that it believes have been neglected by other
investors. The Adviser utilizes a primarily qualitative research process focused
on these attributes to identify and invest in relatively undervalued companies.
These factors formulate the Adviser's investment case for each company under
consideration for investment. An important function of the Adviser's investment
process is to set a price target at which the security will be sold, provided
that there has been no fundamental change in the investment case. The Adviser
monitors each security held by the Fund to determine if the security continues
to act in accordance with the Adviser's initial assessment. Ordinarily, once the
Adviser believes that an investment case has realized its anticipated prospects,
the security will be sold. Additionally, the security would typically be sold if
the identified change does not have the expected impact on earnings and cash
flow of the company or a company's fundamentals deteriorate, or due to other
market conditions that would cause the Adviser to believe a sale would be advisable.
Risk [Heading] rr_RiskHeading PRINCIPAL INVESTMENT RISKS
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund buys will increase in value. The
following is a summary description of certain risks of investing in the Fund.

Market Risk. Stock markets are volatile and can decline significantly in
response to adverse issuer, regulatory, market or economic developments.
Different parts of the U.S. market and different markets around the world can
react differently to these developments. When market prices fall, the value of
your investment will go down. The financial crisis that began in 2008 has caused
a significant decline in the value and liquidity of many securities of issuers
worldwide. Some governmental and non-governmental issuers (notably in Europe)
have defaulted on, or been forced to restructure, their debts, and many other
issuers have faced difficulties obtaining credit. These market conditions may
continue, worsen or spread, including in the U.S., Europe and beyond. Further
defaults or restructurings by governments and others of their debt could have
additional adverse effects on economies, financial markets and asset valuations
around the world. Whether or not the Fund invests in securities of issuers
located in or with significant exposure to countries experiencing economic and
financial difficulties, these events could negatively affect the value and
liquidity of the Fund's investments. The Fund may experience a substantial or
complete loss on any individual security. In addition, legislation recently
enacted in the U.S. calls for changes in many aspects of financial regulation.
The impact of the legislation on the markets, and the practical implications for
market participants, may not be fully known for some time.

Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that affect
particular companies or industries, including changes in market demand for
particular goods and services, increases in costs of supply, changes in management,
increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.

Portfolio Selection Risk. The value of your investment may decrease if the Adviser's
judgment about the attractiveness, value of, or market trends affecting a particular
security, industry or sector, country or region, or about market movements, is
incorrect.

Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, natural disasters and
political, economic or social instability. Because many foreign markets are
smaller, less liquid and more volatile, the Fund may not be able to sell
portfolio securities at times, in amounts and at prices it considers reasonable.
In some foreign countries, less information is available about issuers and
markets. Foreign markets may offer less protection to investors. Foreign stocks
can fluctuate more widely in price than comparable U.S. stocks, and they may
also be less liquid.

Currency Risk. The Fund generally invests in securities denominated in foreign
currencies, and could experience gains or losses solely on changes in the
exchange rate between foreign currencies and the U.S. dollar. Currency exchange
rates can be volatile, and are affected by factors such as general economic
conditions, the actions of the U.S. and foreign governments or central banks,
and the imposition of currency controls or restrictions and speculation.

Emerging Markets Risk.The risks of investing in foreign securities are generally
greater in emerging markets, or to the extent that the Fund invests significantly
in one region or country. The extent of economic development, political stability,
market depth, infrastructure, capitalization and regulatory oversight can be less
than in more developed markets. The economies of emerging market countries may be
dependent on relatively few industries that are more susceptible to local and
global changes. Emerging market countries may experience rising interest rates,
or, more significantly, rapid inflation or hyperinflation.

Risks of Small and Mid Cap Companies. Compared to mutual funds that focus
exclusively on large capitalization companies, the Fund may be more volatile
because it also invests in small and/or mid capitalization companies. Small and
mid capitalization companies are more likely to have more limited product lines,
fewer capital resources and less depth of management than larger companies.
Securities of smaller companies may have limited liquidity and may be difficult
to value or sell at advantageous time or without a substantial drop in price.

Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological changes, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.

Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur
additional operating expenses, which would reduce performance, and could cause
shareowners to incur a higher level of taxable income or capital gains.

Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.

These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.

An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney It is possible to lose money by investing in the Fund. There is no guarantee that the stock market or the stocks the Fund buys will increase in value.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading PERFORMANCE INFORMATION
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and the average annual total return table below illustrate the risks
and volatility of an investment in the Fund. The bar chart shows changes in the
Fund's performance from calendar year to calendar year for Institutional Shares.
The table shows how the Fund's average annual total returns for one year and since
inception, both before and after taxes, compare with those of the MSCI World Index,
a broad-based measure of market performance. Total returns would have been lower
had certain fees and expenses not been waived. The Fund makes updated performance
information available at the Fund's website, www.crmfunds.com/performance_daily.aspx,
or at the following telephone number: 800-CRM-2883. Of course, the Fund's past
performance, both before and after taxes, does not necessarily indicate how the
Fund will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and the average annual total return table below illustrate the risks and volatility of an investment in the Fund. The bar chart shows changes in the Fund's performance from calendar year to calendar year for Institutional Shares. The table shows how the Fund's average annual total returns for one year and since inception, both before and after taxes, compare with those of the MSCI World Index, a broad-based measure of market performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-CRM-2883
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.crmfunds.com/performance_daily.aspx
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Of course, the Fund's past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEAR ENDED DECEMBER 31
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Calendar YTD Total Return as of September 30, 2012: 14.24%

  Best Quarter During the Period          Worst Quarter During the Period     
       Covered in the Bar Chart                 Covered in the Bar Chart        
                                      
                25.54%                                  (25.69)%                
For the quarter ended June 30, 2009   For the quarter ended September 30, 2011
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes reflects no deduction for fees, expenses or taxes
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate 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.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns will depend on your tax situation, may differ from those shown and are not relevant if you hold your shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for Institutional Shares. After-tax returns for Investor Shares will vary.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.
Caption rr_AverageAnnualReturnCaption Average Annual Total Returns as of December 31, 2011
CRM Global Opportunity Fund (Prospectus Summary) | CRM Global Opportunity Fund | MSCI World Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel MSCI World Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 (5.54%)
Since Inception rr_AverageAnnualReturnSinceInception 11.13%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2008
CRM Global Opportunity Fund (Prospectus Summary) | CRM Global Opportunity Fund | Investor Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Redemption Fee on Shares Held Less Than 30 Days (as a percentage of amount redeemed, if applicable) rr_RedemptionFeeOverRedemption (1.50%)
Management Fees rr_ManagementFeesOverAssets 0.90%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets 0.25%
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 0.47%
Total Other Expenses rr_OtherExpensesOverAssets 0.72%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.63% [1],[2]
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.12%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 1.51% [1],[2]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-11-01
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 154
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 502
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 875
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,923
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (19.25%)
Since Inception rr_AverageAnnualReturnSinceInception 12.95%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2008
CRM Global Opportunity Fund (Prospectus Summary) | CRM Global Opportunity Fund | Institutional Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Redemption Fee on Shares Held Less Than 30 Days (as a percentage of amount redeemed, if applicable) rr_RedemptionFeeOverRedemption (1.50%)
Management Fees rr_ManagementFeesOverAssets 0.90%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fee rr_Component1OtherExpensesOverAssets none
Other Miscellaneous Expenses rr_Component2OtherExpensesOverAssets 0.48%
Total Other Expenses rr_OtherExpensesOverAssets 0.48%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.39% [1],[2]
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.13%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 1.26% [1],[2]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-11-01
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 128
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 427
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 748
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,657
Annual Return 2009 rr_AnnualReturn2009 44.80%
Annual Return 2010 rr_AnnualReturn2010 23.88%
Annual Return 2011 rr_AnnualReturn2011 (19.07%)
Year to Date Return, Label rr_YearToDateReturnLabel YTD Total Return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 14.24%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter During the Period Covered in the Bar Chart
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 25.54%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter During the Period Covered in the Bar Chart
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (25.69%)
Label rr_AverageAnnualReturnLabel Before Taxes
1 Year rr_AverageAnnualReturnYear01 (19.07%)
Since Inception rr_AverageAnnualReturnSinceInception 13.23%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2008
CRM Global Opportunity Fund (Prospectus Summary) | CRM Global Opportunity Fund | Institutional Shares | After Taxes on Distributions
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (22.86%)
Since Inception rr_AverageAnnualReturnSinceInception 11.21%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2008
CRM Global Opportunity Fund (Prospectus Summary) | CRM Global Opportunity Fund | Institutional Shares | After Taxes on Distributions and Sales
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel After Taxes on Distributions and Sale of Shares
1 Year rr_AverageAnnualReturnYear01 (11.86%)
Since Inception rr_AverageAnnualReturnSinceInception 10.41%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2008
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
[2] The Adviser has a contractual obligation to waive a portion of its fees and to assume certain expenses of the Fund to the extent that the total annual fund operating expenses, excluding taxes, extraordinary expenses, brokerage commissions, interest and acquired fund fees and expenses, exceed 1.50% and 1.25% of average daily net assets of Investor Shares and Institutional Shares, respectively. These expense limitations are in effect until November 1, 2013. Prior to that date, the arrangement may be terminated for a class only by the vote of the Board of Trustees of the Fund.
XML 34 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6
CRM LARGE CAP OPPORTUNITY FUND (Prospectus Summary) | CRM LARGE CAP OPPORTUNITY FUND
CRM LARGE CAP OPPORTUNITY FUND
INVESTMENT OBJECTIVE
CRM Large Cap Opportunity Fund seeks long-term capital appreciation.
FEES AND EXPENSES
This table sets forth the fees and expenses that you may pay if you buy and hold
shares of the Fund.
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses CRM LARGE CAP OPPORTUNITY FUND
Investor Shares
Institutional Shares
Management Fees 0.75% 0.75%
Distribution (12b-1) Fees none none
Shareholder Servicing Fee 0.25% none
Other Miscellaneous Expenses 0.33% 0.34%
Total Other Expenses 0.58% 0.34%
Acquired Fund Fees and Expenses 0.01% 0.01%
Total Annual Fund Operating Expenses [1][2] 1.34% 1.10%
Fee Waiver and Expense Reimbursement [2] (0.18%) (0.19%)
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement [1][2] 1.16% 0.91%
[1] Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets that is included in the Fund's financial highlights, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
[2] The Adviser has a contractual obligation to waive a portion of its fees and to assume certain expenses of the Fund to the extent that the total annual fund operating expenses, excluding taxes, extraordinary expenses, brokerage commissions, interest and acquired fund fees and expenses, exceed 1.15% and 0.90% of average daily net assets of Investor Shares and Institutional Shares, respectively. These expense limitations are in effect until November 1, 2013. Prior to that date, the arrangement may be terminated for a class only by the vote of the Board of Trustees of the Fund.
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 below shows what
you would pay if you invested $10,000 over the various time periods indicated.
The Example assumes that you reinvested all dividends and other distributions;
the average annual return was 5%; the Fund's total operating expenses (reflecting
applicable contractual fee waivers and expense reimbursement arrangements) are
charged and remain the same over the time periods; and you redeemed all of your
investment at the end of each time period.

Although your actual costs may be higher or lower based on these assumptions,
your costs would be:
Expense Example CRM LARGE CAP OPPORTUNITY FUND (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Investor Shares
118 407 717 1,597
Institutional Shares
93 331 588 1,323
PORTFOLIO TURNOVER
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 fund operating expenses or in the example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 126%
of the average value of its portfolio.
PRINCIPAL INVESTMENT STRATEGIES
The Fund, under normal circumstances, invests at least 80% of its assets in
equity and equity related securities of U.S. and non-U.S. companies with market
capitalizations at the time of initial purchase within the range of those in the
Russell 1000 Value Index ("large cap companies") that are publicly traded on a
U.S. securities market. The market capitalization range of the Index changes
constantly, and as a result, the capitalization of large cap companies in which
the Fund will invest will also change. As of September 30, 2012, the market
capitalization range of the Index was approximately $300 million to $427.6 billion.
For purposes of the 80% investment policy, equity and equity related securities
include: common and preferred stocks, securities convertible into common stock,
and warrants on common stock.

The Adviser evaluates investment opportunities for the Fund using a proprietary
value-oriented process that seeks to identify companies characterized by three
attributes: change, neglect and relative valuation. The Adviser seeks to identify
those changes that are material to a company's operations, outlook and prospects
while also identifying companies that it believes have been neglected by other
investors. The Adviser utilizes a primarily qualitative research process focused
on these attributes to identify and invest in relatively undervalued companies.
These factors formulate the Adviser's investment case for each company under
consideration for investment. An important function of the Adviser's investment
process is to set a price target at which the security will be sold, provided
that there has been no fundamental change in the investment case. The Adviser
monitors each security held by the Fund to determine if the security continues
to act in accordance with the Adviser's initial assessment. Ordinarily, once the
Adviser believes that an investment case has realized its anticipated prospects,
the security will be sold. Additionally, the security would typically be sold if
the identified change does not have the expected impact on earnings and cash flow
of the company or a company's fundamentals deteriorate, or due to other market
conditions that would cause the Adviser to believe a sale would be advisable.
PRINCIPAL INVESTMENT RISKS
It is possible to lose money by investing in the Fund. There is no guarantee
that the stock market or the stocks the Fund buys will increase in value. The
following is a summary description of certain risks of investing in the Fund.
  
Market Risk. Stock markets are volatile and can decline significantly in
response to adverse issuer, regulatory, market or economic developments.
Different parts of the U.S. market and different markets around the world can
react differently to these developments. When market prices fall, the value of
your investment will go down. The financial crisis that began in 2008 has caused
a significant decline in the value and liquidity of many securities of issuers
worldwide. Some governmental and non-governmental issuers (notably in Europe)
have defaulted on, or been forced to restructure, their debts, and many other
issuers have faced difficulties obtaining credit. These market conditions may
continue, worsen or spread, including in the U.S., Europe and beyond. Further
defaults or restructurings by governments and others of their debt could have
additional adverse effects on economies, financial markets and asset valuations
around the world. Whether or not the Fund invests in securities of issuers
located in or with significant exposure to countries experiencing economic and
financial difficulties, these events could negatively affect the value and
liquidity of the Fund's investments. The Fund may experience a substantial or
complete loss on any individual security. In addition, legislation recently
enacted in the U.S. calls for changes in many aspects of financial regulation.
The impact of the legislation on the markets, and the practical implications
for market participants, may not be fully known for some time.
  
Company Risk. The value of an individual security or particular type of security
can be more volatile than the market as a whole and can perform differently from
the market as a whole. This may result from a wide variety of factors that
affect particular companies or industries, including changes in market demand
for particular goods and services, increases in costs of supply, changes in
management, increased competition and changes in regulatory environment.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and other types of stocks and can continue to be undervalued by the market
for long periods of time. The Adviser may be incorrect when it decides that a
stock is undervalued by the market.
  
Portfolio Selection Risk. The value of your investment may decrease if the
Adviser's judgment about the attractiveness, value of, or market trends
affecting a particular security, industry or sector, country or region, or
about market movements, is incorrect.
  
Risks of Foreign Investments. Investing in foreign securities involves special
risks that can increase the potential for losses. These risks may include
nationalization or expropriation of assets, illiquid foreign securities markets,
confiscatory taxation, foreign withholding taxes, imposition of currency
controls or restrictions, natural disasters and political, economic or social
instability. Because many foreign markets are smaller, less liquid and more
volatile, the Fund may not be able to sell portfolio securities at times, in
amounts and at prices it considers reasonable. In some foreign countries, less
information is available about issuers and markets. Foreign markets may offer
less protection to investors. Foreign stocks can fluctuate more widely in price
than comparable U.S. stocks, and they may also be less liquid. Currency
fluctuations could erase investment gains or add to investment losses.
  
Focus Risk. To the extent that the Fund invests in a smaller number of issuers
or emphasizes investments in particular industries or market sectors, the Fund
will be subject to a greater degree to any market price movements, regulatory or
technological changes, economic conditions or other developments affecting those
issuers or companies in those industries or market sectors.
  
Portfolio Turnover Risk. If the Fund does a lot of trading, it may incur additional
operating expenses, which would reduce performance, and could cause shareowners to
incur a higher level of taxable income or capital gains.
  
Expense Risk. Your actual costs of investing in the Fund may be higher than the
expenses shown in "Annual Fund Operating Expenses" for a variety of reasons. For
example, expense ratios may be higher than those shown if overall net assets
decrease. Net assets are more likely to decrease and Fund expense ratios are
more likely to increase when markets are volatile.
  
These and other risks are discussed in more detail later in this prospectus or
in the statement of additional information.
  
An investment in the Fund is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
PERFORMANCE INFORMATION
The bar chart and the average annual total return table below illustrate
the risks and volatility of an investment in the Fund. The bar chart shows
changes in the Fund's performance from calendar year to calendar year for
Institutional Shares. The table shows how the Fund's average annual total
returns for one year, five years and since inception, both before and after
taxes, compare with those of the Russell 1000 Value Index and the Russell
1000 Index, two broad-based measures of market performance. Total returns
would have been lower had certain fees and expenses not been waived. The
Fund makes updated performance information available at the Fund's website,
www.crmfunds.com/performance_daily.aspx, or at the following telephone number:
800-CRM-2883. Of course, the Fund's past performance, both before and after
taxes, does not necessarily indicate how the Fund will perform in the future.
ANNUAL TOTAL RETURNS FOR INSTITUTIONAL SHARES FOR CALENDAR YEARS ENDED DECEMBER 31
Bar Chart
Calendar YTD Total Return as of September 30, 2012: 16.45%

    Best Quarter During the Period          Worst Quarter During the Period    
       Covered in the Bar Chart                Covered in the Bar Chart        
                                      
                14.15%                                 (20.18)%                
For the quarter ended June 30, 2009   For the quarter ended December 31, 2008
Average Annual Total Returns as of December 31, 2011
Average Annual Total Returns CRM LARGE CAP OPPORTUNITY FUND
Label
1 Year
5 Years
Since Inception
Inception Date
Investor Shares
Before Taxes (2.91%) (1.51%) 1.28% Dec. 01, 2005
Institutional Shares
Before Taxes (2.73%) (1.28%) 1.53% Dec. 01, 2005
Institutional Shares After Taxes on Distributions
After Taxes on Distributions (2.97%) (1.71%) 1.13% Dec. 01, 2005
Institutional Shares After Taxes on Distributions and Sales
After Taxes on Distributions and Sale of Shares (1.78%) (1.24%) 1.16% Dec. 01, 2005
Russell 1000 Value Index
Russell 1000 Value Index (reflects no deduction for fees, expenses or taxes) 0.39% (2.64%) 1.21% Dec. 01, 2005
Russell 1000 Index
Russell 1000 Index (reflects no deduction for fees, expenses or taxes) 1.50% (0.02%) 2.40% Dec. 01, 2005
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.
Actual after-tax returns will depend on your tax situation, may differ from those
shown and are not relevant if you hold your shares through tax-deferred arrangements,
such as 401(k) plans or individual retirement accounts. After-tax returns are shown
only for Institutional Shares. After-tax returns for Investor Shares will vary.