0001104659-12-073092.txt : 20121101 0001104659-12-073092.hdr.sgml : 20121101 20121101131802 ACCESSION NUMBER: 0001104659-12-073092 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 8 FILED AS OF DATE: 20121101 DATE AS OF CHANGE: 20121101 EFFECTIVENESS DATE: 20121101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FundVantage Trust CENTRAL INDEX KEY: 0001388485 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-141120 FILM NUMBER: 121172888 BUSINESS ADDRESS: BUSINESS PHONE: 610-382-8667 MAIL ADDRESS: STREET 1: 301 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 0001388485 S000030887 WHV Emerging Markets Equity Fund C000095846 Class A WHEAX C000095847 Class I WHEIX 497 1 a12-22823_5497.htm 497

 

GRAPHIC

 

3000 Two Logan Square

Eighteenth and Arch Streets

Philadelphia, PA  19103-2799

215.981.4000

Fax 215.981.4750

 

John P. Falco

direct dial:  215.981.4659

falcoj@pepperlaw.com

 

November 1, 2012

 

VIA EDGAR

 

Filing Desk

U.S. Securities and Exchange Commission

100 F Street, NE

Washington, DC  20549

 

Re:

FundVantage Trust

File Nos. 333-141120 and 811-22027

 

Ladies and Gentlemen:

 

On behalf of FundVantage Trust (the “Trust”), and pursuant to Rule 497(e) under the Securities Act of 1933, as amended, attached for filing are exhibits containing interactive data format risk/return summary information that mirrors the risk/return summary information in the supplement filed with the Securities and Exchange Commission on October 11, 2012 to the prospectus dated September 1, 2012, for Class A and Class I shares of the WHV International Equity Fund and WHV Emerging Markets Equity Fund  (each a “Fund,” and together, the “Funds”), each a series of the Trust. The 497(e) is being filed for the sole purpose of submitting the exhibits containing interactive data format risk/return summary information for the Funds.

 

If you have any questions, please contact the undersigned at 215.981.4659.

 

 

Very truly yours,

 

 

 

/s/ John P. Falco

 

 

 

John P. Falco

 

cc:           Mr. Joel L. Weiss

 

 

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Boston

Washington, D.C.

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www.pepperlaw.com

 


EX-101.INS 2 ck0001388485-20120430.xml XBRL INSTANCE DOCUMENT Other 2012-04-30 0001388485 2012-10-11 FundVantage Trust false 2012-10-11 2012-09-01 <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 64.04% <br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.whv.com/role/ExpenseExample_S000030887Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.whv.com/role/BarChartData_S000030887Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The WHV Emerging Markets Equity Fund (the "Emerging Markets Fund" or the "Fund")<br />seeks to achieve long-term capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in shares of the <br />Fund with the cost of investing in other mutual funds. The Example below shows what <br />you would pay if you invested $10,000 in the Fund's Class A shares and $500,000 <br />(minimum investment) in Class I shares for the time periods indicated and then redeem <br />all of your shares at the end of those periods. The Example also assumes that your <br />investment has a 5% return each year and that the Fund's operating expenses remain <br />the same. Although your actual costs may be higher or lower, based on these <br />assumptions, your costs would be:</tt> reflects no deductions for fees or expenses <tt>The Fund primarily invests in equity securities of companies domiciled in emerging <br />markets that the Adviser believes are attractively valued. The Fund primarily <br />invests in common stock, securities convertible into common stock and depositary <br />receipts. The Fund may invest directly in foreign securities or indirectly through <br />shares of Global Depositary Receipts ("GDRs") and American Depositary Receipts <br />("ADRs").<br /> <br />The Adviser uses a Growth-at-a-Reasonable Price ("GARP") oriented investment<br />process to select securities that it believes exhibit growth and are attractively <br />valued. The Adviser begins with a top-down approach to identify countries that <br />it deems favorable for investment. The Adviser assesses the attractiveness of a <br />country by analyzing: the country's economic fundamentals and business environment, <br />the quality of earnings of the companies operating within the country and the <br />valuation characteristics of the country's markets. After selecting the countries <br />the Adviser deems favorable for investment, the Adviser performs fundamental analysis <br />to identify companies it believes have strong fundamentals, compelling valuation and <br />identifiable catalysts for growth. The Adviser analyzes individual stock attributes <br />using fundamental research and disciplined valuation techniques. The Fund may focus <br />its investments in one or more economic sectors. The Fund generally holds 30 to 50 <br />securities.<br /> <br />The Adviser may sell a portfolio security if it believes that the security has become <br />overvalued; the fundamentals of the company or industry indicate signs of deterioration; <br />the catalysts for purchase are no longer valid; there are concerns regarding the accounting <br />practices or management of the issuer; or better investment opportunities are available.</tt> FUND SUMMARY You may qualify for sales charge discounts with respect to Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 or more in the 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. Investment Objective 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. Summary of Principal Risks Shareholder Fees (fees paid directly from your investment): 0.6404 Actual after-tax returns depend on your tax situation and 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 Information 50000 The bar chart and the performance table illustrate the risks and volatility of an investment in Class I shares of the Fund for the past calendar year and show how the average annual total returns for one year, and since inception, before and after taxes, compare with those of the MSCI Emerging Markets Index, a broad measure of market performance. <tt>Calendar Year-to-Date Total Return as of June 30, 2012: 4.87% <br /><br />Best Quarter&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Worst Quarter <br />8.36%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;-24.62% <br />(December 31, 2011)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(September 30, 2011)</tt> 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>The Fund is subject to the principal risks summarized below. These risks could<br />adversely affect the Fund's NAV, yield and total return. It is possible to lose<br />money by investing in the Fund.<br /> <br />&#x2022; Emerging Markets Risk: Emerging markets are riskier than more developed markets <br />&#xA0;&#xA0;because they tend to develop unevenly and may never fully develop. Investments in <br />&#xA0;&#xA0;emerging markets may be considered speculative. Emerging markets are more likely <br />&#xA0;&#xA0;to experience hyperinflation and currency devaluations, which adversely affect <br />&#xA0;&#xA0;returns to U.S. investors. In addition, many emerging securities markets have far <br />&#xA0;&#xA0;lower trading volumes and less liquidity than developed markets.<br /> <br />&#x2022; Equity Securities Risk: Stock markets are volatile. The price of equity securities <br />&#xA0;&#xA0;fluctuates based on changes in a company's financial condition and overall market <br />&#xA0;&#xA0;and economic conditions.<br /> <br />&#x2022; Foreign Securities Risk: The risk that investing in foreign (non-U.S.) securities <br />&#xA0;&#xA0;may result in the Fund experiencing more rapid and extreme changes in value than a <br />&#xA0;&#xA0;fund that invests exclusively in securities of U.S. companies, due to less liquid <br />&#xA0;&#xA0;markets, and adverse economic, political, diplomatic, financial, and regulatory <br />&#xA0;&#xA0;factors. Foreign governments also may impose limits on investment and repatriation <br />&#xA0;&#xA0;and impose taxes. Any of these events could cause the value of the Fund's investments <br />&#xA0;&#xA0;to decline.<br /> <br />&#x2022; Management Risk: As with any managed fund, the Adviser may not be successful in <br />&#xA0;&#xA0;selecting the best-performing securities or investment techniques, and the Fund's <br />&#xA0;&#xA0;performance may lag behind that of similar funds. The Adviser may also miss out on <br />&#xA0;&#xA0;an investment opportunity because the assets necessary to take advantage of the <br />&#xA0;&#xA0;opportunity are tied up in less advantageous investments.<br />&#xA0;&#xA0;<br />&#x2022; Market Risk: The risk that the market value of a security may, sometimes rapidly <br />&#xA0;&#xA0;and unpredictably, fluctuate. The prices of securities change in response to many <br />&#xA0;&#xA0;factors including the historical and prospective earnings of the issuer, the value <br />&#xA0;&#xA0;of its assets, general economic conditions, interest rates, investor perceptions <br />&#xA0;&#xA0;and market liquidity.<br /> <br />&#x2022; Sector Risk: The Fund may focus its investments from time to time in a limited<br />&#xA0;&#xA0;number of economic sectors. The Fund may not have exposure to all economic sectors. <br />&#xA0;&#xA0;To the extent that it does so, developments affecting companies in that sector or <br />&#xA0;&#xA0;sectors will likely have a magnified effect on the Fund's NAV and total returns and <br />&#xA0;&#xA0;may subject the Fund to greater risk of loss. Accordingly, the Fund could be <br />&#xA0;&#xA0;considerably more volatile than a broad-based market index or other mutual funds <br />&#xA0;&#xA0;that are diversified across a greater number of securities and sectors.<br /> <br />&#x2022; Valuation Risk: The risk that the Fund has valued certain of its securities at a <br />&#xA0;&#xA0;higher price than it can sell them.</tt> Expenses and Fees After-tax returns shown are for Class I shares; after-tax returns for Class A shares will vary. Summary of Principal Investment Strategies <tt>The bar chart and the performance table illustrate the risks and volatility of<br />an investment in Class I shares of the Fund for the past calendar year and show<br />how the average annual total returns for one year, and since inception, before<br />and after taxes, compare with those of the MSCI Emerging Markets Index, a broad<br />measure of market performance. Total returns would have been lower had certain<br />fees and expenses not been waived or reimbursed. Past performance, both before<br />and after taxes, does not necessarily indicate how the Fund will perform in the<br />future.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Class A and Class I shares of the Fund. You may qualify for sales charge discounts <br />with respect to Class A shares if you and your family invest, or agree to invest <br />in the future, at least $50,000 or more in the Fund. More information about these <br />and other discounts is available from your financial professional and in the <br />section entitled "Purchase of Shares" on page 19 of the Fund's prospectus.</tt> <div style="display:none">~ http://www.whv.com/role/OperatingExpensesData_S000030887Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.whv.com/role/PerformanceTableData_S000030887Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.whv.com/role/ShareholderFeesData_S000030887Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> MSCI Emerging Markets (Net) Index (reflects no deductions for fees or expenses) -0.1842 -0.1842 2010-12-31 Class I Shares Return After Taxes on Distributions and Sale of Shares -0.1260 -0.1260 2010-12-31 Class I Shares Return After Taxes on Distributions -0.1956 -0.1956 2010-12-31 WHEIX Worst Quarter Best Quarter 0.0000 2012-06-30 Class I Shares Return Before Taxes 7631 2011-12-31 141471 -0.2462 -0.1271 450071 -0.0200 251793 0.0836 -0.1938 0.1321 0.0100 2013-12-31 2011-09-30 Calendar Year-to-Date Total Return -0.1938 0.0000 0.0150 0.1421 -0.1938 2010-12-31 0.0487 0.0000 WHEAX 0.0575 Class A Shares Return Before Taxes 743 3823 -0.1638 9760 -0.0200 6148 -0.2412 0.1688 0.0100 2013-12-31 0.0025 0.0175 0.1813 -0.2412 2010-12-31 0.0100 0001388485 ck0001388485:SummaryS000030887Memberck0001388485:S000030887Memberck0001388485:C000095846Member 2012-09-01 2012-09-01 0001388485 ck0001388485:SummaryS000030887Memberck0001388485:S000030887Memberck0001388485:C000095847Member 2012-09-01 2012-09-01 0001388485 ck0001388485:SummaryS000030887Memberck0001388485:S000030887Memberrr:AfterTaxesOnDistributionsMemberck0001388485:C000095847Member 2012-09-01 2012-09-01 0001388485 ck0001388485:SummaryS000030887Memberck0001388485:S000030887Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0001388485:C000095847Member 2012-09-01 2012-09-01 0001388485 ck0001388485:SummaryS000030887Memberck0001388485:S000030887Memberck0001388485:RRINDEX00001Member 2012-09-01 2012-09-01 0001388485 ck0001388485:SummaryS000030887Memberck0001388485:S000030887Member 2012-09-01 2012-09-01 0001388485 2012-09-01 2012-09-01 pure iso4217:USD A 1.00% contingent deferred sales charge ("CDSC") may apply to investments of $1 million or more of Class A shares (and therefore no initial sales charge was paid by the shareholder) when shares are redeemed within 18 months after initial purchase. The CDSC shall not apply to those purchases of Class A shares of $1 million or more where the selling broker dealer was not paid a commission. The Adviser has contractually agreed to reduce its investment 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 1.50% (on an annual basis) of average daily net assets of the Fund (the "Expense Limitation"). The Expense Limitation will remain in place until December 31, 2013, unless the Board of Trustees approves its earlier termination. The Adviser is entitled to recover, 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. 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 depend on your tax situation and 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. The "Class I Shares Return After Taxes on Distributions and Sale of Shares" is higher than the "Class I Shares Return Before Taxes" and/or the "Class I Shares Return After Taxes on Distributions" because of realized losses that would have been sustained upon the sale of Fund shares immediately after the relevant periods. After-tax returns shown are for Class I shares; after-tax returns for Class A shares will vary. The MSCI Emerging Markets (Net) Index is a float-adjusted market capitalization index that is designed to measure equity market performance in global emerging markets. The index does not reflect deductions for individual federal income taxes; however; this index is net total return which reinvests dividends after the deduction of withholding taxes, using (for international indices) a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties. MSCI Emerging Markets (Net) Index uses the maximum withholding tax rate applicable to institutional investors. The returns for this index do not include any transaction costs, management fees or other costs. You cannot invest directly in any index. 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Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Sep. 01, 2012
WHV Emerging Markets Equity Fund (Prospectus Summary) | WHV Emerging Markets Equity Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading FUND SUMMARY
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The WHV Emerging Markets Equity Fund (the "Emerging Markets Fund" or the "Fund")
seeks to achieve long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading Expenses and Fees
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold
Class A and Class I shares of the Fund. You may qualify for sales charge discounts
with respect to Class A shares if you and your family invest, or agree to invest
in the future, at least $50,000 or more in the Fund. More information about these
and other discounts is available from your financial professional and in the
section entitled "Purchase of Shares" on page 19 of the Fund's prospectus.
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 64.04%
of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 64.04%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts with respect to Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 or more in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount 50,000
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 shares of the
Fund with the cost of investing in other mutual funds. The Example below shows what
you would pay if you invested $10,000 in the Fund's Class A shares and $500,000
(minimum investment) in Class I shares for the time periods indicated and then redeem
all of your shares at the end of those periods. The Example also assumes that your
investment has a 5% return each year and that the Fund's operating expenses remain
the same. Although your actual costs may be higher or lower, based on these
assumptions, your costs would be:
Strategy [Heading] rr_StrategyHeading Summary of Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund primarily invests in equity securities of companies domiciled in emerging
markets that the Adviser believes are attractively valued. The Fund primarily
invests in common stock, securities convertible into common stock and depositary
receipts. The Fund may invest directly in foreign securities or indirectly through
shares of Global Depositary Receipts ("GDRs") and American Depositary Receipts
("ADRs").

The Adviser uses a Growth-at-a-Reasonable Price ("GARP") oriented investment
process to select securities that it believes exhibit growth and are attractively
valued. The Adviser begins with a top-down approach to identify countries that
it deems favorable for investment. The Adviser assesses the attractiveness of a
country by analyzing: the country's economic fundamentals and business environment,
the quality of earnings of the companies operating within the country and the
valuation characteristics of the country's markets. After selecting the countries
the Adviser deems favorable for investment, the Adviser performs fundamental analysis
to identify companies it believes have strong fundamentals, compelling valuation and
identifiable catalysts for growth. The Adviser analyzes individual stock attributes
using fundamental research and disciplined valuation techniques. The Fund may focus
its investments in one or more economic sectors. The Fund generally holds 30 to 50
securities.

The Adviser may sell a portfolio security if it believes that the security has become
overvalued; the fundamentals of the company or industry indicate signs of deterioration;
the catalysts for purchase are no longer valid; there are concerns regarding the accounting
practices or management of the issuer; or better investment opportunities are available.
Risk [Heading] rr_RiskHeading Summary of Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to the principal risks summarized below. These risks could
adversely affect the Fund's NAV, yield and total return. It is possible to lose
money by investing in the Fund.

• Emerging Markets Risk: Emerging markets are riskier than more developed markets
  because they tend to develop unevenly and may never fully develop. Investments in
  emerging markets may be considered speculative. Emerging markets are more likely
  to experience hyperinflation and currency devaluations, which adversely affect
  returns to U.S. investors. In addition, many emerging securities markets have far
  lower trading volumes and less liquidity than developed markets.

• Equity Securities Risk: Stock markets are volatile. The price of equity securities
  fluctuates based on changes in a company's financial condition and overall market
  and economic conditions.

• Foreign Securities Risk: The risk that investing in foreign (non-U.S.) securities
  may result in the Fund experiencing more rapid and extreme changes in value than a
  fund that invests exclusively in securities of U.S. companies, due to less liquid
  markets, and adverse economic, political, diplomatic, financial, and regulatory
  factors. Foreign governments also may impose limits on investment and repatriation
  and impose taxes. Any of these events could cause the value of the Fund's investments
  to decline.

• Management Risk: As with any managed fund, the Adviser may not be successful in
  selecting the best-performing securities or investment techniques, and the Fund's
  performance may lag behind that of similar funds. The Adviser may also miss out on
  an investment opportunity because the assets necessary to take advantage of the
  opportunity are tied up in less advantageous investments.
  
• Market Risk: The risk that the market value of a security may, sometimes rapidly
  and unpredictably, fluctuate. The prices of securities change in response to many
  factors including the historical and prospective earnings of the issuer, the value
  of its assets, general economic conditions, interest rates, investor perceptions
  and market liquidity.

• Sector Risk: The Fund may focus its investments from time to time in a limited
  number of economic sectors. The Fund may not have exposure to all economic sectors.
  To the extent that it does so, developments affecting companies in that sector or
  sectors will likely have a magnified effect on the Fund's NAV and total returns and
  may subject the Fund to greater risk of loss. Accordingly, the Fund could be
  considerably more volatile than a broad-based market index or other mutual funds
  that are diversified across a greater number of securities and sectors.

• Valuation Risk: The risk that the Fund has valued certain of its securities at a
  higher price than it can sell them.
Risk Lose Money [Text] rr_RiskLoseMoney It is possible to lose money by investing in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance Information
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and the performance table illustrate the risks and volatility of
an investment in Class I shares of the Fund for the past calendar year and show
how the average annual total returns for one year, and since inception, before
and after taxes, compare with those of the MSCI Emerging Markets Index, a broad
measure of market performance. Total returns would have been lower had certain
fees and expenses not been waived or reimbursed. 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 performance table illustrate the risks and volatility of an investment in Class I shares of the Fund for the past calendar year and show how the average annual total returns for one year, and since inception, before and after taxes, compare with those of the MSCI Emerging Markets Index, a broad measure of market performance.
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance, both before and after taxes, does not necessarily indicate how the Fund will perform in the future.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Calendar Year-to-Date Total Return as of June 30, 2012: 4.87%

Best Quarter             Worst Quarter
8.36%                    -24.62%
(December 31, 2011)      (September 30, 2011)
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes reflects no deductions for fees or expenses
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 depend on your tax situation and 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 shown are for Class I shares; after-tax returns for Class A shares will vary.
Caption rr_AverageAnnualReturnCaption Average Annual Total Returns as of December 31, 2011
WHV Emerging Markets Equity Fund (Prospectus Summary) | WHV Emerging Markets Equity Fund | MSCI Emerging Markets (Net) Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel MSCI Emerging Markets (Net) Index (reflects no deductions for fees or expenses) [1]
1 Year rr_AverageAnnualReturnYear01 (18.42%)
Since Inception rr_AverageAnnualReturnSinceInception (18.42%)
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2010
WHV Emerging Markets Equity Fund (Prospectus Summary) | WHV Emerging Markets Equity Fund | Class A
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Maximum Sales Charge (Load) imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of the original purchase price or the net asset value at redemption) rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00% [2]
Redemption Fee (as a percentage of amount redeemed within 60 days of purchase) rr_RedemptionFeeOverRedemption (2.00%)
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 16.88%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 18.13% [3]
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (16.38%) [3]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 1.75% [3]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-12-31
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 743
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 3,823
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 6,148
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 9,760
Label rr_AverageAnnualReturnLabel Class A Shares Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 (24.12%)
Since Inception rr_AverageAnnualReturnSinceInception (24.12%)
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2010
WHV Emerging Markets Equity Fund (Prospectus Summary) | WHV Emerging Markets Equity Fund | Class I
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Maximum Sales Charge (Load) imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of the original purchase price or the net asset value at redemption) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Redemption Fee (as a percentage of amount redeemed within 60 days of purchase) rr_RedemptionFeeOverRedemption (2.00%)
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 13.21%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 14.21% [3]
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (12.71%) [3]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 1.50% [3]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-12-31
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 7,631
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 141,471
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 251,793
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 450,071
Annual Return 2011 rr_AnnualReturn2011 (19.38%)
Year to Date Return, Label rr_YearToDateReturnLabel Calendar Year-to-Date Total Return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 4.87%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2011
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 8.36%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (24.62%)
Label rr_AverageAnnualReturnLabel Class I Shares Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 (19.38%)
Since Inception rr_AverageAnnualReturnSinceInception (19.38%)
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2010
WHV Emerging Markets Equity Fund (Prospectus Summary) | WHV Emerging Markets Equity Fund | Class I | After Taxes on Distributions
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Class I Shares Return After Taxes on Distributions [4]
1 Year rr_AverageAnnualReturnYear01 (19.56%)
Since Inception rr_AverageAnnualReturnSinceInception (19.56%)
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2010
WHV Emerging Markets Equity Fund (Prospectus Summary) | WHV Emerging Markets Equity Fund | Class I | After Taxes on Distributions and Sales
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Class I Shares Return After Taxes on Distributions and Sale of Shares [4]
1 Year rr_AverageAnnualReturnYear01 (12.60%)
Since Inception rr_AverageAnnualReturnSinceInception (12.60%)
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 2010
[1] The MSCI Emerging Markets (Net) Index is a float-adjusted market capitalization index that is designed to measure equity market performance in global emerging markets. The index does not reflect deductions for individual federal income taxes; however; this index is net total return which reinvests dividends after the deduction of withholding taxes, using (for international indices) a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties. MSCI Emerging Markets (Net) Index uses the maximum withholding tax rate applicable to institutional investors. The returns for this index do not include any transaction costs, management fees or other costs. You cannot invest directly in any index.
[2] A 1.00% contingent deferred sales charge ("CDSC") may apply to investments of $1 million or more of Class A shares (and therefore no initial sales charge was paid by the shareholder) when shares are redeemed within 18 months after initial purchase. The CDSC shall not apply to those purchases of Class A shares of $1 million or more where the selling broker dealer was not paid a commission.
[3] The Adviser has contractually agreed to reduce its investment 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 1.50% (on an annual basis) of average daily net assets of the Fund (the "Expense Limitation"). The Expense Limitation will remain in place until December 31, 2013, unless the Board of Trustees approves its earlier termination. The Adviser is entitled to recover, 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.
[4] 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 depend on your tax situation and 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. The "Class I Shares Return After Taxes on Distributions and Sale of Shares" is higher than the "Class I Shares Return Before Taxes" and/or the "Class I Shares Return After Taxes on Distributions" because of realized losses that would have been sustained upon the sale of Fund shares immediately after the relevant periods. After-tax returns shown are for Class I shares; after-tax returns for Class A shares will vary.
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WHV Emerging Markets Equity Fund (Prospectus Summary) | WHV Emerging Markets Equity Fund
FUND SUMMARY
Investment Objective
The WHV Emerging Markets Equity Fund (the "Emerging Markets Fund" or the "Fund")
seeks to achieve long-term capital appreciation.
Expenses and Fees
This table describes the fees and expenses that you may pay if you buy and hold
Class A and Class I shares of the Fund. You may qualify for sales charge discounts
with respect to Class A shares if you and your family invest, or agree to invest
in the future, at least $50,000 or more in the Fund. More information about these
and other discounts is available from your financial professional and in the
section entitled "Purchase of Shares" on page 19 of the Fund's prospectus.
Shareholder Fees (fees paid directly from your investment):
Shareholder Fees WHV Emerging Markets Equity Fund
Class A
Class I
Maximum Sales Charge (Load) imposed on Purchases (as a percentage of offering price) 5.75% none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of the original purchase price or the net asset value at redemption) 1.00% [1] none
Redemption Fee (as a percentage of amount redeemed within 60 days of purchase) 2.00% 2.00%
[1] A 1.00% contingent deferred sales charge ("CDSC") may apply to investments of $1 million or more of Class A shares (and therefore no initial sales charge was paid by the shareholder) when shares are redeemed within 18 months after initial purchase. The CDSC shall not apply to those purchases of Class A shares of $1 million or more where the selling broker dealer was not paid a commission.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Annual Fund Operating Expenses WHV Emerging Markets Equity Fund
Class A
Class I
Management Fees 1.00% 1.00%
Distribution (Rule 12b-1) Fees 0.25% none
Other Expenses 16.88% 13.21%
Total Annual Fund Operating Expenses [1] 18.13% 14.21%
Fee Waiver and/or Expense Reimbursement [1] (16.38%) (12.71%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement [1] 1.75% 1.50%
[1] The Adviser has contractually agreed to reduce its investment 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 1.50% (on an annual basis) of average daily net assets of the Fund (the "Expense Limitation"). The Expense Limitation will remain in place until December 31, 2013, unless the Board of Trustees approves its earlier termination. The Adviser is entitled to recover, 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.
Example
This Example is intended to help you compare the cost of investing in shares of the
Fund with the cost of investing in other mutual funds. The Example below shows what
you would pay if you invested $10,000 in the Fund's Class A shares and $500,000
(minimum investment) in Class I shares for the time periods indicated and then redeem
all of your shares at the end of those periods. The Example also assumes that your
investment has a 5% return each year and that the Fund's operating expenses remain
the same. Although your actual costs may be higher or lower, based on these
assumptions, your costs would be:
Expense Example WHV Emerging Markets Equity 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
Class A
743 3,823 6,148 9,760
Class I
7,631 141,471 251,793 450,071
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 64.04%
of the average value of its portfolio.
Summary of Principal Investment Strategies
The Fund primarily invests in equity securities of companies domiciled in emerging
markets that the Adviser believes are attractively valued. The Fund primarily
invests in common stock, securities convertible into common stock and depositary
receipts. The Fund may invest directly in foreign securities or indirectly through
shares of Global Depositary Receipts ("GDRs") and American Depositary Receipts
("ADRs").

The Adviser uses a Growth-at-a-Reasonable Price ("GARP") oriented investment
process to select securities that it believes exhibit growth and are attractively
valued. The Adviser begins with a top-down approach to identify countries that
it deems favorable for investment. The Adviser assesses the attractiveness of a
country by analyzing: the country's economic fundamentals and business environment,
the quality of earnings of the companies operating within the country and the
valuation characteristics of the country's markets. After selecting the countries
the Adviser deems favorable for investment, the Adviser performs fundamental analysis
to identify companies it believes have strong fundamentals, compelling valuation and
identifiable catalysts for growth. The Adviser analyzes individual stock attributes
using fundamental research and disciplined valuation techniques. The Fund may focus
its investments in one or more economic sectors. The Fund generally holds 30 to 50
securities.

The Adviser may sell a portfolio security if it believes that the security has become
overvalued; the fundamentals of the company or industry indicate signs of deterioration;
the catalysts for purchase are no longer valid; there are concerns regarding the accounting
practices or management of the issuer; or better investment opportunities are available.
Summary of Principal Risks
The Fund is subject to the principal risks summarized below. These risks could
adversely affect the Fund's NAV, yield and total return. It is possible to lose
money by investing in the Fund.

• Emerging Markets Risk: Emerging markets are riskier than more developed markets
  because they tend to develop unevenly and may never fully develop. Investments in
  emerging markets may be considered speculative. Emerging markets are more likely
  to experience hyperinflation and currency devaluations, which adversely affect
  returns to U.S. investors. In addition, many emerging securities markets have far
  lower trading volumes and less liquidity than developed markets.

• Equity Securities Risk: Stock markets are volatile. The price of equity securities
  fluctuates based on changes in a company's financial condition and overall market
  and economic conditions.

• Foreign Securities Risk: The risk that investing in foreign (non-U.S.) securities
  may result in the Fund experiencing more rapid and extreme changes in value than a
  fund that invests exclusively in securities of U.S. companies, due to less liquid
  markets, and adverse economic, political, diplomatic, financial, and regulatory
  factors. Foreign governments also may impose limits on investment and repatriation
  and impose taxes. Any of these events could cause the value of the Fund's investments
  to decline.

• Management Risk: As with any managed fund, the Adviser may not be successful in
  selecting the best-performing securities or investment techniques, and the Fund's
  performance may lag behind that of similar funds. The Adviser may also miss out on
  an investment opportunity because the assets necessary to take advantage of the
  opportunity are tied up in less advantageous investments.
  
• Market Risk: The risk that the market value of a security may, sometimes rapidly
  and unpredictably, fluctuate. The prices of securities change in response to many
  factors including the historical and prospective earnings of the issuer, the value
  of its assets, general economic conditions, interest rates, investor perceptions
  and market liquidity.

• Sector Risk: The Fund may focus its investments from time to time in a limited
  number of economic sectors. The Fund may not have exposure to all economic sectors.
  To the extent that it does so, developments affecting companies in that sector or
  sectors will likely have a magnified effect on the Fund's NAV and total returns and
  may subject the Fund to greater risk of loss. Accordingly, the Fund could be
  considerably more volatile than a broad-based market index or other mutual funds
  that are diversified across a greater number of securities and sectors.

• Valuation Risk: The risk that the Fund has valued certain of its securities at a
  higher price than it can sell them.
Performance Information
The bar chart and the performance table illustrate the risks and volatility of
an investment in Class I shares of the Fund for the past calendar year and show
how the average annual total returns for one year, and since inception, before
and after taxes, compare with those of the MSCI Emerging Markets Index, a broad
measure of market performance. Total returns would have been lower had certain
fees and expenses not been waived or reimbursed. Past performance, both before
and after taxes, does not necessarily indicate how the Fund will perform in the
future.
Bar Chart
Calendar Year-to-Date Total Return as of June 30, 2012: 4.87%

Best Quarter             Worst Quarter
8.36%                    -24.62%
(December 31, 2011)      (September 30, 2011)
Average Annual Total Returns as of December 31, 2011
Average Annual Total Returns WHV Emerging Markets Equity Fund
Label
1 Year
Since Inception
Inception Date
Class A
Class A Shares Return Before Taxes (24.12%) (24.12%) Dec. 31, 2010
Class I
Class I Shares Return Before Taxes (19.38%) (19.38%) Dec. 31, 2010
Class I After Taxes on Distributions
Class I Shares Return After Taxes on Distributions [1] (19.56%) (19.56%) Dec. 31, 2010
Class I After Taxes on Distributions and Sales
Class I Shares Return After Taxes on Distributions and Sale of Shares [1] (12.60%) (12.60%) Dec. 31, 2010
MSCI Emerging Markets (Net) Index
MSCI Emerging Markets (Net) Index (reflects no deductions for fees or expenses) [2] (18.42%) (18.42%) Dec. 31, 2010
[1] 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 depend on your tax situation and 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. The "Class I Shares Return After Taxes on Distributions and Sale of Shares" is higher than the "Class I Shares Return Before Taxes" and/or the "Class I Shares Return After Taxes on Distributions" because of realized losses that would have been sustained upon the sale of Fund shares immediately after the relevant periods. After-tax returns shown are for Class I shares; after-tax returns for Class A shares will vary.
[2] The MSCI Emerging Markets (Net) Index is a float-adjusted market capitalization index that is designed to measure equity market performance in global emerging markets. The index does not reflect deductions for individual federal income taxes; however; this index is net total return which reinvests dividends after the deduction of withholding taxes, using (for international indices) a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties. MSCI Emerging Markets (Net) Index uses the maximum withholding tax rate applicable to institutional investors. The returns for this index do not include any transaction costs, management fees or other costs. You cannot invest directly in any index.
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Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
Document Type dei_DocumentType Other
Document Period End Date dei_DocumentPeriodEndDate Apr. 30, 2012
Registrant Name dei_EntityRegistrantName FundVantage Trust
Central Index Key dei_EntityCentralIndexKey 0001388485
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Oct. 11, 2012
Document Effective Date dei_DocumentEffectiveDate Oct. 11, 2012
WHV Emerging Markets Equity Fund (Prospectus Summary) | WHV Emerging Markets Equity Fund | Class A
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol WHEAX
WHV Emerging Markets Equity Fund (Prospectus Summary) | WHV Emerging Markets Equity Fund | Class I
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol WHEIX
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