0000910472-12-003866.txt : 20121219 0000910472-12-003866.hdr.sgml : 20121219 20121219162450 ACCESSION NUMBER: 0000910472-12-003866 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 6 FILED AS OF DATE: 20121219 DATE AS OF CHANGE: 20121219 EFFECTIVENESS DATE: 20121219 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Copeland Trust CENTRAL INDEX KEY: 0001502745 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-169806 FILM NUMBER: 121274653 BUSINESS ADDRESS: STREET 1: 1400 PEOPLES PLAZA STREET 2: SUITE 104 CITY: NEWARK STATE: DE ZIP: 19702 BUSINESS PHONE: 617-399-6935 MAIL ADDRESS: STREET 1: 1400 PEOPLES PLAZA STREET 2: SUITE 104 CITY: NEWARK STATE: DE ZIP: 19702 FORMER COMPANY: FORMER CONFORMED NAME: Edgartown Trust DATE OF NAME CHANGE: 20101004 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Copeland Trust CENTRAL INDEX KEY: 0001502745 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-22483 FILM NUMBER: 121274654 BUSINESS ADDRESS: STREET 1: 1400 PEOPLES PLAZA STREET 2: SUITE 104 CITY: NEWARK STATE: DE ZIP: 19702 BUSINESS PHONE: 617-399-6935 MAIL ADDRESS: STREET 1: 1400 PEOPLES PLAZA STREET 2: SUITE 104 CITY: NEWARK STATE: DE ZIP: 19702 FORMER COMPANY: FORMER CONFORMED NAME: Edgartown Trust DATE OF NAME CHANGE: 20101004 0001502745 S000039172 Copeland International Risk Managed Dividend Growth Fund C000120504 Copeland International Risk Managed Dividend Growth Fund Class A IDVGX C000120505 Copeland International Risk Managed Dividend Growth Fund Class C IDVCX C000120506 Copeland International Risk Managed Dividend Growth Fund Class I IDVIX 485BPOS 1 copeland485bxbrl.htm 485BPOS GemCom, LLC

Filed with the Securities and Exchange Commission on December 19, 2012

Securities Act Registration No. 333-169806

Investment Company Act Registration No. 811-22483


SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

¨

Pre-Effective Amendment No.

¨

Post-Effective Amendment No. 9

ý

 


and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

¨

Amendment No. 10  

ý

 


(Check appropriate box or boxes.)

Copeland Trust

 (Exact Name of Registrant as Specified in Charter)

Eight Tower Bridge, 161 Washington Street, Suite 1650

Conshohocken, PA  19428

(Address of Principal Executive Offices)(Zip Code)

Registrant’s Telephone Number, including Area Code: (484) 530-4300

Corporate Filing Solutions LLC

1400 Peoples Plaza STE 104

Newark, Delaware 19702

(Name and Address of Agent for Service)


With copy to:

Michael P. Malloy, Esq.

One Logan Square, Suite 2000

Philadelphia, PA 19103-6996


Approximate date of proposed public offering:  It is proposed that this filing will become effective:

x Immediately upon filing pursuant to paragraph (b)

o On (date) pursuant to paragraph (b)

o  60 days after filing pursuant to paragraph (a)(1)

o On (date) 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.

If appropriate, check the following box:

o This post-effective amendment designates a new effective date for a previously filed post-effective amendment.




SIGNATURES



Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this post-effective amendment No. 9 to the Registrant’s Registration Statement on Form N-1A to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Conshohocken, State of Pennsylvania, on the 19th day of December, 2012.



Copeland Trust



By: /s/Barbara Grosso

Barbara Grosso

Secretary


Pursuant to the requirements of the Securities Act of 1933, this post-effective amendment to the Registration Statement has been signed below by the following persons in the capacities and on the 19th day of December, 2012.


Stephen M. Wynne*, Trustee

Bruce M. Aronow*, Trustee

Stephen J. Kneeley*, Trustee

Thomas A. Leonard*, Trustee

Edward C. Rorer*, Trustee

Eric C. Brown*, President and Principal Executive Officer

Mark W. Giovanniello*, Vice-President, Treasurer and Principal Financial Officer




*By: /s/Barbara Grosso

Barbara Grosso

Attorney-in-Fact




EXHIBIT INDEX

 

 

 

Index No.

  

Description of Exhibit

 

 

EX-101.INS

  

XBRL Instance Document

 

 

EX-101.SCH

  

XBRL Taxonomy Extension Schema Document

 

 

EX-101.DEF

  

XBRL Taxonomy Extension Definition Linkbase

 

 

EX-101.LAB

  

XBRL Taxonomy Extension Labels Linkbase

 

 

EX-101.PRE

  

XBRL Taxonomy Extension Presentation Linkbase



EX-101.INS 2 cik0001502745-20121207.xml 0001502745 2012-11-30 2012-11-30 0001502745 cik0001502745:S000039172Member 2012-11-30 2012-11-30 0001502745 cik0001502745:S000039172Member cik0001502745:C000120504Member 2012-11-30 2012-11-30 0001502745 cik0001502745:S000039172Member cik0001502745:C000120505Member 2012-11-30 2012-11-30 0001502745 cik0001502745:S000039172Member cik0001502745:C000120506Member 2012-11-30 2012-11-30 iso4217:USD xbrli:pure Estimated for the Fund's current fiscal year. The Fund's adviser has contractually agreed to waive its fees and/or absorb expenses of the Fund, until at least March 31, 2014, to ensure that total annual fund operating expenses after fee waiver and/or expense reimbursement (exclusive of any taxes, leverage interest, borrowing interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expense on securities sold short, acquired fund fees and expenses or extraordinary expenses such as litigation) will not exceed 1.60%, 2.35%, or 1.45% of the daily average net asset value of Class A, Class C, and Class I shares, respectively, subject to possible recoupment from the Fund in future years on a rolling three year basis (within the three years after the fees have been waived or reimbursed) if such recoupment can be achieved within the foregoing expense limits. This agreement may be terminated by the Fund's Board of Trustees on 60 days written notice to the adviser. Copeland Trust 485BPOS false 0001502745 2012-11-30 2012-12-07 2012-12-07 2012-12-10 Copeland International Risk Managed Dividend Growth Fund Example: <p align="justify" style="LINE-HEIGHT: 14pt; MARGIN-TOP: 0px; FONT-FAMILY: Arial,Times New Roman; MARGIN-BOTTOM: 8px; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Arial">&#160;This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</font> </p> 728 1218 238 907 148 637 ~ http://gemini.com/20121207/role/ScheduleExpenseExampleTransposed20003 column dei_LegalEntityAxis compact cik0001502745_S000039172Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be: Principal Investment Risks: <p align="justify" style="LINE-HEIGHT: 14pt; MARGIN: 0px; FONT-FAMILY: Arial; FONT-SIZE: 12pt"><b><i>As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. &#160;Many factors affect the Fund's net asset value and performance. &#160;</i></b> </p> <br/><p style="LINE-HEIGHT: 14pt; MARGIN-TOP: 0px; TEXT-INDENT: 24px; WIDTH: 48px; FONT-FAMILY: Symbol; MARGIN-BOTTOM: -2px; FLOAT: left; FONT-SIZE: 12pt"> &#183; </p> <br/><p style="LINE-HEIGHT: 14pt; MARGIN-TOP: 0px; TEXT-INDENT: -2px; PADDING-LEFT: 48px; FONT-FAMILY: Arial; MARGIN-BOTTOM: 11px; FONT-SIZE: 12pt" align="justify"> <i>Foreign Investing Risk:</i> &#160;Investments in foreign countries are subject to country-specific risks such as political, diplomatic, regional conflicts, terrorism, war, social and economic instability and policies that have the effect of decreasing the value of foreign securities.&#160; Foreign investments may experience greater volatility than U.S. investments. </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: 24px; WIDTH: 48px; FONT-FAMILY: Symbol; MARGIN-BOTTOM: -2px; FLOAT: left; CLEAR: left; FONT-SIZE: 12pt"> &#183; </p> <br/><p style="LINE-HEIGHT: 14pt; MARGIN-TOP: 0px; TEXT-INDENT: -2px; PADDING-LEFT: 48px; FONT-FAMILY: Arial; MARGIN-BOTTOM: 11px; FONT-SIZE: 12pt" align="justify"> <i>Issuer-Specific Risk: &#160;</i>The value of a specific security can be more volatile than the market as a whole and may perform worse than the market as a whole. </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: 24px; WIDTH: 48px; FONT-FAMILY: Symbol; MARGIN-BOTTOM: -2px; FLOAT: left; CLEAR: left; FONT-SIZE: 12pt"> &#183; </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: -2px; PADDING-LEFT: 48px; FONT-FAMILY: Arial; MARGIN-BOTTOM: 8px; FONT-SIZE: 12pt" align="justify"> <i>Limited History of Operation:</i> &#160;The Fund is a new mutual fund and has a limited history of operation. </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: 24px; WIDTH: 48px; FONT-FAMILY: Symbol; MARGIN-BOTTOM: -2px; FLOAT: left; CLEAR: left; FONT-SIZE: 12pt"> &#183; </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: -2px; PADDING-LEFT: 48px; FONT-FAMILY: Arial; MARGIN-BOTTOM: 8px; FONT-SIZE: 12pt" align="justify"> <i>Management Risk: &#160;</i>The adviser's dependence on its dividend growth and sector rotation strategies and judgments about the attractiveness, value and potential appreciation of particular securities in which the Fund invests may prove incorrect and may not produce the desired results. </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: 24px; WIDTH: 48px; FONT-FAMILY: Symbol; MARGIN-BOTTOM: -2px; FLOAT: left; CLEAR: left; FONT-SIZE: 12pt"> &#183; </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: -2px; PADDING-LEFT: 48px; FONT-FAMILY: Arial; MARGIN-BOTTOM: 8px; FONT-SIZE: 12pt" align="justify"> <i>Market Risk:</i> &#160;Overall securities market risks may affect the value of individual securities in which the Fund invests. &#160;Factors such as foreign and domestic economic growth and market conditions, interest rate levels, and political events affect the securities markets. </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: 24px; WIDTH: 48px; FONT-FAMILY: Symbol; MARGIN-BOTTOM: -2px; FLOAT: left; CLEAR: left; FONT-SIZE: 12pt"> &#183; </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: -2px; PADDING-LEFT: 48px; FONT-FAMILY: Arial; MARGIN-BOTTOM: 8px; FONT-SIZE: 12pt" align="justify"> <i>REIT Risk: &#160;</i>A REIT's performance depends on the types and locations of the rental properties it owns and on how well it manages those properties. &#160;Real estate values rise and fall in response to a variety of factors, including local, regional and national economic conditions, interest rates and tax considerations. &#160; </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: 24px; WIDTH: 48px; FONT-FAMILY: Symbol; MARGIN-BOTTOM: -2px; FLOAT: left; CLEAR: left; FONT-SIZE: 12pt"> &#183; </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: -2px; PADDING-LEFT: 48px; FONT-FAMILY: Arial; MARGIN-BOTTOM: 8px; FONT-SIZE: 12pt" align="justify"> <i>Return Tracking Risk:</i> &#160;The Fund will not be able to replicate exactly the performance of IDVG because the returns generated by the Fund's securities will be reduced by transaction costs. &#160;In addition, the Fund will incur expenses, such as management fees, not incurred by IDVG. &#160;The adviser's judgments about the return tracking characteristics of securities may prove incorrect and may not produce the desired results. </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: 24px; WIDTH: 48px; FONT-FAMILY: Symbol; MARGIN-BOTTOM: -2px; FLOAT: left; CLEAR: left; FONT-SIZE: 12pt"> &#183; </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: -2px; PADDING-LEFT: 48px; FONT-FAMILY: Arial; MARGIN-BOTTOM: 8px; FONT-SIZE: 12pt" align="justify"> <i>Small and Medium Capitalization Risk:</i> &#160;The value of a small or medium capitalization company securities may be subject to more abrupt or erratic market movements than those of larger, more established companies or the market averages in general. </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: 24px; WIDTH: 48px; FONT-FAMILY: Symbol; MARGIN-BOTTOM: -2px; FLOAT: left; CLEAR: left; FONT-SIZE: 12pt"> &#183; </p> <br/><p style="MARGIN-TOP: 0px; TEXT-INDENT: -2px; PADDING-LEFT: 48px; FONT-FAMILY: Arial; MARGIN-BOTTOM: 8px; FONT-SIZE: 12pt" align="justify"> <i>Turnover Risk:</i> &#160;A higher portfolio turnover will result in higher transactional and brokerage costs. &#160;Active trading of securities may also increase the Fund's realized capital gains or losses, which may increase the taxes you pay as a Fund shareholder and reduces after-tax returns if Fund shares are held in a taxable account. </p> As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. Fees and Expenses of the Fund: <p align="justify" style="MARGIN: 0px; FONT-FAMILY: Arial; FONT-SIZE: 12pt">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. &#160;You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. &#160;More information about these and other discounts is available from your financial professional or in <b>How to Purchase Shares</b> on page 17 of this Prospectus and in <font style="FONT-FAMILY: Arial Unicode MS,Arial">&#8220;</font>Purchase, Redemption and Pricing of Shares<font style="FONT-FAMILY: Arial Unicode MS,Arial">&#8221;</font> on page 45 of the Fund<font style="FONT-FAMILY: Arial Unicode MS,Arial">&#8217;</font>s Statement of Additional Information (<font style="FONT-FAMILY: Arial Unicode MS,Arial">&#8220;</font>SAI<font style="FONT-FAMILY: Arial Unicode MS,Arial">&#8221;</font>). </p> 0.0575 0.0000 0.0000 0.0100 0.0000 0.0000 0.0000 0.0000 0.0000 -0.0100 -0.0100 -0.0100 0.0110 0.0110 0.0110 0.0025 0.0100 0.0000 0.0110 0.0110 0.0120 0.0000 0.0000 0.0010 0.0110 0.0110 0.0110 0.0245 0.0320 0.0230 -0.0085 -0.0085 -0.0085 0.0160 0.0235 0.0145 ~ http://gemini.com/20121207/role/ScheduleShareholderFees20001 column dei_LegalEntityAxis compact cik0001502745_S000039172Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://gemini.com/20121207/role/ScheduleAnnualFundOperatingExpenses20002 column dei_LegalEntityAxis compact cik0001502745_S000039172Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2014-03-31 You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) Estimated for the Fund's current fiscal year. 50000 Shareholder Fees(fees paid directly from your investment) Portfolio Turnover: <p align="justify" style="LINE-HEIGHT: 12pt; MARGIN: 0px; FONT-FAMILY: Arial; FONT-SIZE: 12pt"> &#160;The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). &#160;A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. &#160;These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. </p> Principal Investment Strategies: <p align="justify" style="MARGIN: 0px; FONT-FAMILY: Arial; FONT-SIZE: 12pt"> &#160;The Fund seeks to achieve its investment objectives of producing long-term capital appreciation and income <strike/>while preserving capital by purchasing equities of companies with a proven track record of dividend growth within sectors forecasted to appreciate by the adviser's quantitative model. &#160;The Fund <strike/>uses the same strategy as and tracks the performance of the Copeland International Risk Managed Dividend Growth Index ("IDVG"), a publicly-available index published by NASDAQ. &#160;IDVG and the Fund are composed of common stocks, preferred stocks and real estate investment trusts ("REITs") of non-US headquartered companies or entities that have raised their dividends for a minimum of five consecutive years; and cash equivalents. &#160;As an international fund, the Fund invests, under normal market conditions, in at least three different foreign countries, and at least 40% of its assets outside of the US. </p> <br/><p style="MARGIN-TOP: 6px; FONT-FAMILY: Arial; MARGIN-BOTTOM: 6px; FONT-SIZE: 12pt" align="justify"> Under normal market conditions, the Fund invests at least 80% of its assets in securities that have increased their dividend for a minimum of five consecutive years. &#160;To manage risk, the adviser utilizes a quantitative model to determine when abnormal market conditions exist, which may lead to the investment of up to 100% of the portfolio in cash and cash equivalents <strike></strike>for temporary defensive purposes. &#160;Specifically, the adviser utilizes quantitative signals that forecast which sectors of the market are likely to appreciate or depreciate in value. &#160;By avoiding negative sectors and increasing the Fund's allocation to positive sectors and/or cash and cash equivalents, the adviser attempts to limit losses. &#160;The Fund further manages risk through its diversification strategy of allocating generally no more than 5% to a single equity security, measured at time of purchase. &#160;The Fund, in general, invests in companies with a market capitalization of at least $2 Billion upon purchase, but is not restricted to any market capitalization range. </p> <br/><p style="MARGIN-TOP: 6px; FONT-FAMILY: Arial,Times New Roman; MARGIN-BOTTOM: 6px; FONT-SIZE: 12pt" align="justify"> The adviser sells securities when they no longer meet its fundamental <font style="FONT-FAMILY: Arial">dividend growth criteria or quantitative sector selection criteria</font><font style="FONT-FAMILY: Arial">. &#160;The adviser may engage in active and frequent trading to meet the Fund's investment objective.</font><font style="FONT-FAMILY: Arial"><i></i></font> </p> Performance: <p align="justify" style="MARGIN: 0px; FONT-FAMILY: Arial,Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Arial">Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. &#160;In the future, performance information will be presented in this section of the Prospectus. &#160;Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually.</font> <font style="FONT-FAMILY: Arial">&#160;Once the Fund has commenced operations, performance information can be obtained by calling 1-888-9-COPELAND.</font> </p> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. 1-888-9-COPELAND Investment Objectives: <p align="justify" style="LINE-HEIGHT: 14pt; MARGIN: 0px; FONT-FAMILY: Arial; FONT-SIZE: 12pt">The Fund seeks long-term capital appreciation and income while preserving capital in declining markets. &#160; </p> EX-101.SCH 3 cik0001502745-20121207.xsd 000001 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 020000 - Document - Risk/Return Summary {Unlabeled} - Copeland International Risk Managed Dividend Growth Fund link:presentationLink link:definitionLink link:calculationLink 020001 - Schedule - Shareholder Fees link:presentationLink link:definitionLink 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Copeland International Risk Managed Dividend Growth Fund
Copeland International Risk Managed Dividend Growth Fund
Investment Objectives:

The Fund seeks long-term capital appreciation and income while preserving capital in declining markets.  

Fees and Expenses of the Fund:

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.  You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund.  More information about these and other discounts is available from your financial professional or in How to Purchase Shares on page 17 of this Prospectus and in Purchase, Redemption and Pricing of Shares on page 45 of the Funds Statement of Additional Information (SAI).

Shareholder Fees(fees paid directly from your investment)
Shareholder Fees Copeland International Risk Managed Dividend Growth Fund
Copeland International Risk Managed Dividend Growth Fund Class A
Copeland International Risk Managed Dividend Growth Fund Class C
Copeland International Risk Managed Dividend Growth Fund Class I
Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price) 5.75% none none
Maximum Deferred Sales Charge (Load) (as a % of original purchase price) 1.00% none none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and other Distributions none none none
Redemption Fee (as a % of amount redeemed if held less than 30 days) ($15 fee for any redemption paid by wire transfer) 1.00% 1.00% 1.00%
Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Copeland International Risk Managed Dividend Growth Fund
Copeland International Risk Managed Dividend Growth Fund Class A
Copeland International Risk Managed Dividend Growth Fund Class C
Copeland International Risk Managed Dividend Growth Fund Class I
Management Fees 1.10% 1.10% 1.10%
Distribution and/or Service (12b-1) Fees 0.25% 1.00% none
Other Expenses [1] 1.10% 1.10% 1.20%
Shareholder Service Fees none none 0.10%
Other Operating Expenses 1.10% 1.10% 1.10%
Total Annual Fund Operating Expenses 2.45% 3.20% 2.30%
Fee Waiver and/or Expense Reimbursement [2] (0.85%) (0.85%) (0.85%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement 1.60% 2.35% 1.45%
[1] Estimated for the Fund's current fiscal year.
[2] The Fund's adviser has contractually agreed to waive its fees and/or absorb expenses of the Fund, until at least March 31, 2014, to ensure that total annual fund operating expenses after fee waiver and/or expense reimbursement (exclusive of any taxes, leverage interest, borrowing interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expense on securities sold short, acquired fund fees and expenses or extraordinary expenses such as litigation) will not exceed 1.60%, 2.35%, or 1.45% of the daily average net asset value of Class A, Class C, and Class I shares, respectively, subject to possible recoupment from the Fund in future years on a rolling three year basis (within the three years after the fees have been waived or reimbursed) if such recoupment can be achieved within the foregoing expense limits. This agreement may be terminated by the Fund's Board of Trustees on 60 days written notice to the adviser.
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 assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Expense Example Copeland International Risk Managed Dividend Growth Fund (USD $)
1 Year
3 Years
Copeland International Risk Managed Dividend Growth Fund Class A
728 1,218
Copeland International Risk Managed Dividend Growth Fund Class C
238 907
Copeland International Risk Managed Dividend Growth Fund Class I
148 637
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 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.

Principal Investment Strategies:

 The Fund seeks to achieve its investment objectives of producing long-term capital appreciation and income while preserving capital by purchasing equities of companies with a proven track record of dividend growth within sectors forecasted to appreciate by the adviser's quantitative model.  The Fund uses the same strategy as and tracks the performance of the Copeland International Risk Managed Dividend Growth Index ("IDVG"), a publicly-available index published by NASDAQ.  IDVG and the Fund are composed of common stocks, preferred stocks and real estate investment trusts ("REITs") of non-US headquartered companies or entities that have raised their dividends for a minimum of five consecutive years; and cash equivalents.  As an international fund, the Fund invests, under normal market conditions, in at least three different foreign countries, and at least 40% of its assets outside of the US.


Under normal market conditions, the Fund invests at least 80% of its assets in securities that have increased their dividend for a minimum of five consecutive years.  To manage risk, the adviser utilizes a quantitative model to determine when abnormal market conditions exist, which may lead to the investment of up to 100% of the portfolio in cash and cash equivalents for temporary defensive purposes.  Specifically, the adviser utilizes quantitative signals that forecast which sectors of the market are likely to appreciate or depreciate in value.  By avoiding negative sectors and increasing the Fund's allocation to positive sectors and/or cash and cash equivalents, the adviser attempts to limit losses.  The Fund further manages risk through its diversification strategy of allocating generally no more than 5% to a single equity security, measured at time of purchase.  The Fund, in general, invests in companies with a market capitalization of at least $2 Billion upon purchase, but is not restricted to any market capitalization range.


The adviser sells securities when they no longer meet its fundamental dividend growth criteria or quantitative sector selection criteria.  The adviser may engage in active and frequent trading to meet the Fund's investment objective.

Principal Investment Risks:

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Many factors affect the Fund's net asset value and performance.  


·


Foreign Investing Risk:  Investments in foreign countries are subject to country-specific risks such as political, diplomatic, regional conflicts, terrorism, war, social and economic instability and policies that have the effect of decreasing the value of foreign securities.  Foreign investments may experience greater volatility than U.S. investments.


·


Issuer-Specific Risk:  The value of a specific security can be more volatile than the market as a whole and may perform worse than the market as a whole.


·


Limited History of Operation:  The Fund is a new mutual fund and has a limited history of operation.


·


Management Risk:  The adviser's dependence on its dividend growth and sector rotation strategies and judgments about the attractiveness, value and potential appreciation of particular securities in which the Fund invests may prove incorrect and may not produce the desired results.


·


Market Risk:  Overall securities market risks may affect the value of individual securities in which the Fund invests.  Factors such as foreign and domestic economic growth and market conditions, interest rate levels, and political events affect the securities markets.


·


REIT Risk:  A REIT's performance depends on the types and locations of the rental properties it owns and on how well it manages those properties.  Real estate values rise and fall in response to a variety of factors, including local, regional and national economic conditions, interest rates and tax considerations.  


·


Return Tracking Risk:  The Fund will not be able to replicate exactly the performance of IDVG because the returns generated by the Fund's securities will be reduced by transaction costs.  In addition, the Fund will incur expenses, such as management fees, not incurred by IDVG.  The adviser's judgments about the return tracking characteristics of securities may prove incorrect and may not produce the desired results.


·


Small and Medium Capitalization Risk:  The value of a small or medium capitalization company securities may be subject to more abrupt or erratic market movements than those of larger, more established companies or the market averages in general.


·


Turnover Risk:  A higher portfolio turnover will result in higher transactional and brokerage costs.  Active trading of securities may also increase the Fund's realized capital gains or losses, which may increase the taxes you pay as a Fund shareholder and reduces after-tax returns if Fund shares are held in a taxable account.

Performance:

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually.  Once the Fund has commenced operations, performance information can be obtained by calling 1-888-9-COPELAND.

XML 10 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Copeland International Risk Managed Dividend Growth Fund
Objective [Heading] rr_ObjectiveHeading Investment Objectives:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Fund seeks long-term capital appreciation and income while preserving capital in declining markets.  

Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund:
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.  You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund.  More information about these and other discounts is available from your financial professional or in How to Purchase Shares on page 17 of this Prospectus and in Purchase, Redemption and Pricing of Shares on page 45 of the Funds Statement of Additional Information (SAI).

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2014-03-31
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 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.

Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Estimated for the Fund's current fiscal year.
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.

Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies:
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

 The Fund seeks to achieve its investment objectives of producing long-term capital appreciation and income while preserving capital by purchasing equities of companies with a proven track record of dividend growth within sectors forecasted to appreciate by the adviser's quantitative model.  The Fund uses the same strategy as and tracks the performance of the Copeland International Risk Managed Dividend Growth Index ("IDVG"), a publicly-available index published by NASDAQ.  IDVG and the Fund are composed of common stocks, preferred stocks and real estate investment trusts ("REITs") of non-US headquartered companies or entities that have raised their dividends for a minimum of five consecutive years; and cash equivalents.  As an international fund, the Fund invests, under normal market conditions, in at least three different foreign countries, and at least 40% of its assets outside of the US.


Under normal market conditions, the Fund invests at least 80% of its assets in securities that have increased their dividend for a minimum of five consecutive years.  To manage risk, the adviser utilizes a quantitative model to determine when abnormal market conditions exist, which may lead to the investment of up to 100% of the portfolio in cash and cash equivalents for temporary defensive purposes.  Specifically, the adviser utilizes quantitative signals that forecast which sectors of the market are likely to appreciate or depreciate in value.  By avoiding negative sectors and increasing the Fund's allocation to positive sectors and/or cash and cash equivalents, the adviser attempts to limit losses.  The Fund further manages risk through its diversification strategy of allocating generally no more than 5% to a single equity security, measured at time of purchase.  The Fund, in general, invests in companies with a market capitalization of at least $2 Billion upon purchase, but is not restricted to any market capitalization range.


The adviser sells securities when they no longer meet its fundamental dividend growth criteria or quantitative sector selection criteria.  The adviser may engage in active and frequent trading to meet the Fund's investment objective.

Risk [Heading] rr_RiskHeading Principal Investment Risks:
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Many factors affect the Fund's net asset value and performance.  


·


Foreign Investing Risk:  Investments in foreign countries are subject to country-specific risks such as political, diplomatic, regional conflicts, terrorism, war, social and economic instability and policies that have the effect of decreasing the value of foreign securities.  Foreign investments may experience greater volatility than U.S. investments.


·


Issuer-Specific Risk:  The value of a specific security can be more volatile than the market as a whole and may perform worse than the market as a whole.


·


Limited History of Operation:  The Fund is a new mutual fund and has a limited history of operation.


·


Management Risk:  The adviser's dependence on its dividend growth and sector rotation strategies and judgments about the attractiveness, value and potential appreciation of particular securities in which the Fund invests may prove incorrect and may not produce the desired results.


·


Market Risk:  Overall securities market risks may affect the value of individual securities in which the Fund invests.  Factors such as foreign and domestic economic growth and market conditions, interest rate levels, and political events affect the securities markets.


·


REIT Risk:  A REIT's performance depends on the types and locations of the rental properties it owns and on how well it manages those properties.  Real estate values rise and fall in response to a variety of factors, including local, regional and national economic conditions, interest rates and tax considerations.  


·


Return Tracking Risk:  The Fund will not be able to replicate exactly the performance of IDVG because the returns generated by the Fund's securities will be reduced by transaction costs.  In addition, the Fund will incur expenses, such as management fees, not incurred by IDVG.  The adviser's judgments about the return tracking characteristics of securities may prove incorrect and may not produce the desired results.


·


Small and Medium Capitalization Risk:  The value of a small or medium capitalization company securities may be subject to more abrupt or erratic market movements than those of larger, more established companies or the market averages in general.


·


Turnover Risk:  A higher portfolio turnover will result in higher transactional and brokerage costs.  Active trading of securities may also increase the Fund's realized capital gains or losses, which may increase the taxes you pay as a Fund shareholder and reduces after-tax returns if Fund shares are held in a taxable account.

Risk Lose Money [Text] rr_RiskLoseMoney As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance:
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually.  Once the Fund has commenced operations, performance information can be obtained by calling 1-888-9-COPELAND.

Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-888-9-COPELAND
Copeland International Risk Managed Dividend Growth Fund Class A
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum Deferred Sales Charge (Load) (as a % of original purchase price) rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00%
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of Amount Redeemed) rr_RedemptionFeeOverRedemption (1.00%)
Management Fees rr_ManagementFeesOverAssets 1.10%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Shareholder Service Fees rr_Component1OtherExpensesOverAssets none
Other Operating Expenses rr_Component2OtherExpensesOverAssets 1.10%
Other Expenses rr_OtherExpensesOverAssets 1.10% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.45%
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.85%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 1.60%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount 50,000
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 728
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,218
Copeland International Risk Managed Dividend Growth Fund Class C
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a % of original purchase price) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of Amount Redeemed) rr_RedemptionFeeOverRedemption (1.00%)
Management Fees rr_ManagementFeesOverAssets 1.10%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Shareholder Service Fees rr_Component1OtherExpensesOverAssets none
Other Operating Expenses rr_Component2OtherExpensesOverAssets 1.10%
Other Expenses rr_OtherExpensesOverAssets 1.10% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 3.20%
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.85%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 2.35%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 238
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 907
Copeland International Risk Managed Dividend Growth Fund Class I
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a % of original purchase price) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of Amount Redeemed) rr_RedemptionFeeOverRedemption (1.00%)
Management Fees rr_ManagementFeesOverAssets 1.10%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Service Fees rr_Component1OtherExpensesOverAssets 0.10%
Other Operating Expenses rr_Component2OtherExpensesOverAssets 1.10%
Other Expenses rr_OtherExpensesOverAssets 1.20% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.30%
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.85%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 1.45%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 148
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 637
[1] Estimated for the Fund's current fiscal year.
[2] The Fund's adviser has contractually agreed to waive its fees and/or absorb expenses of the Fund, until at least March 31, 2014, to ensure that total annual fund operating expenses after fee waiver and/or expense reimbursement (exclusive of any taxes, leverage interest, borrowing interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expense on securities sold short, acquired fund fees and expenses or extraordinary expenses such as litigation) will not exceed 1.60%, 2.35%, or 1.45% of the daily average net asset value of Class A, Class C, and Class I shares, respectively, subject to possible recoupment from the Fund in future years on a rolling three year basis (within the three years after the fees have been waived or reimbursed) if such recoupment can be achieved within the foregoing expense limits. This agreement may be terminated by the Fund's Board of Trustees on 60 days written notice to the adviser.
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'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

"+ text.join( "

\n" ) +"

"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "

" + text[p] + "

\n"; } } }else{ formatted = '

' + raw + '

'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'
'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } }
XML 13 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Prospectus Date rr_ProspectusDate Dec. 10, 2012
XML 14 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information
0 Months Ended
Nov. 30, 2012
Risk/Return:  
Document Type 485BPOS
Document Period End Date Nov. 30, 2012
Registrant Name Copeland Trust
Central Index Key 0001502745
Amendment Flag false
Document Creation Date Dec. 07, 2012
Document Effective Date Dec. 07, 2012
Prospectus Date Dec. 10, 2012
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