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2012-09-28
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<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.</tt>
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<tt>The ORIGIN INTERNATIONAL EQUITY FUND (the "Fund") seeks to achieve long-term<br />capital appreciation.</tt>
<tt>This Example is intended to help you compare the cost of investing in shares of<br />the Fund with the cost of investing in other mutual funds.  The Example below<br />shows what you would pay if you invested $10,000 in the Fund's Class I shares<br />for the time periods indicated and then redeem all of your shares at the end of<br />those periods.  The Example also assumes that your investment has a 5% return<br />each year and that the Fund's operating expenses remain the same.  Although your<br />actual costs may be higher or lower, based on these assumptions, your costs<br />would be:</tt>
<tt>The Fund primarily invests in equity securities of foreign (i.e., non-U.S.)<br />companies, with equity market capitalization of more than $1 billion.  In<br />selecting investments for the Fund, the Adviser uses a disciplined and<br />systematic approach to identify companies which exhibit a positive balance <br />of four characteristics:<br /> <br />1. Strong capital management -- companies which have a track record of high <br />   and rising cash flow return on investment;<br /> <br />2. Undervaluation -- companies whose ability to continue to generate high<br />   returns appears under-recognized by the current share price;<br /><br />3. Positive Relative Earnings Revisions -- companies with improving near-term <br />   business prospects as measured by relative changes in analysts' earnings <br />   forecasts; and<br /><br />4. Positive Relative Share Price Trend -- companies whose attractive  <br />   characteristics are starting to be recognized by the market.<br /><br />The Adviser then ranks the companies on the basis of the four characteristics<br />and conducts its own due diligence on those companies that appear at the top of<br />its list to determine which companies will be selected for the Fund's portfolio.  <br />The Fund may focus its investments in specific sectors or industries and may not <br />have exposure to all economic sectors; however, the Fund will not invest more <br />than 25% of its assets in a single industry.  The Fund will normally invest its <br />assets in equity securities of non-U.S. companies without regard to whether a <br />company is located in a country with a developed or emerging market.<br /> <br />The Adviser reviews the portfolio on a monthly basis and may sell a portfolio<br />security if it believes the fundamentals of the issuer are deteriorating, deems<br />that the security has become overvalued, or determines that better investment<br />opportunities are available.</tt>
ORIGIN INTERNATIONAL EQUITY FUND
Example
"Other Expenses" are based on estimated amounts for the current fiscal year.
The Fund's performance information is only shown when the Fund has had a full calendar year of operations.
Investment Objective
It is possible to lose money by investing in the Fund.
Summary of Principal Risks
Shareholder Fees (fees paid directly from your investment):
Performance Information
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Portfolio Turnover
<tt>The Fund is subject to the principal risks summarized below.  These risks could<br />adversely affect the Fund's net asset value ("NAV"), yield and total return.  It<br />is possible to lose money by investing in the Fund.<br /> <br />o Emerging Markets Risk: Emerging markets are riskier than more developed markets <br />  because they tend to develop unevenly and may never fully develop.  Investments in <br />  emerging markets may be considered speculative. Emerging markets are more likely to <br />  experience hyperinflation and currency devaluations, which adversely affect returns <br />  to U.S. investors.  In addition, many emerging securities markets have far lower <br />  trading volumes and less liquidity than developed markets.<br /><br />o Equity Securities Risk: Stock markets are volatile.  The price of equity securities <br />  fluctuates based on changes in a company's financial condition and overall market and <br />  economic conditions.<br />  <br />o Foreign Securities Risk: The risk that investing in foreign (non-U.S.) securities <br />  may result in the Fund experiencing more rapid and extreme changes in value than a <br />  fund that invests exclusively in securities of U.S. companies, due to less liquid <br />  markets, and adverse economic, political, diplomatic, financial, and regulatory <br />  factors. Foreign governments also may impose limits on investment and repatriation <br />  and impose taxes. Any of these events could cause the value of the Fund's investments <br />  to decline.<br /><br />o Management Risk: As with any managed fund, the Adviser may not be successful in <br />  selecting the best-performing securities or investment techniques, and the Fund's <br />  performance may lag behind that of similar funds.  The Adviser may also miss out on <br />  an investment opportunity because the assets necessary to take advantage of the <br />  opportunity are tied up in less advantageous investments.<br /> <br />o Market Risk: The risk that the market value of a security may, sometimes rapidly <br />  and unpredictably, fluctuate. The prices of securities change in response to many <br />  factors including the historical and prospective earnings of the issuer, the value <br />  of its assets, general economic conditions, interest rates, investor perceptions and <br />  market liquidity.<br /><br />o Sector Risk: The Fund may focus its investments from time to time in a limited <br />  number of economic sectors.  The Fund may not have exposure to all economic sectors.  <br />  To the extent that it does so, developments affecting companies in that sector or <br />  sectors will likely have a magnified effect on the Fund's NAV and total returns and <br />  may subject the Fund to greater risk of loss. Accordingly, the Fund could be <br />  considerably more volatile than a broad-based market index or other mutual funds <br />  that are diversified across a greater number of securities and sectors.<br /><br />o Small/Mid Cap Risk: The risk that securities of small or mid capitalization <br />  companies may be subject to more abrupt or erratic market movements than securities <br />  of larger, more established companies. Generally the smaller the company size, the <br />  greater the risk. Small and mid capitalization companies may have limited product <br />  lines or financial resources, or may be dependent upon a small or inexperienced <br />  management group and their securities may trade less frequently and in lower volume <br />  than the securities of larger companies, which could lead to higher transaction costs.<br /><br />o Valuation Risk: The risk that the Fund has valued certain of its securities at a <br />  higher price than it can sell them.</tt>
Expenses and Fees
Summary of Principal Investment Strategies
<tt>The Fund's performance information is only shown when the Fund has had a full<br />calendar year of operations.  The Fund does not yet have a full calendar year <br />of operations, accordingly, there is no performance information included in <br />this Prospectus.</tt>
<tt>The table below describes the fees and expenses that you may pay if you buy and<br />hold shares of the Fund.</tt>
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"Other Expenses" are based on estimated amounts for the current fiscal year.
Origin Asset Management LLP ("Origin" or the "Adviser") has contractually agreed to reduce its advisory fee and/or reimburse certain expenses of the Fund to the extent necessary to ensure that the Fund's total operating expenses (excluding any class-specific fees and expenses, interest, extraordinary items, "Acquired Fund fees and expenses" and brokerage commissions) do not exceed 1.25% (on an annual basis) of average daily net assets of the Fund (the "Expense Limitation"). The Expense Limitation will remain in place until August 31, 2015, unless the Board of Trustees of FundVantage Trust (the "Trust") approves its earlier termination. The Adviser is entitled to recoup, subject to approval by the Board of Trustees, such amounts reduced or reimbursed for a period of up to three (3) years from the year in which the Adviser reduced its compensation and/or assumed expenses for the Fund. No recoupment will occur unless the Fund's expenses are below the Expense Limitation.