| Label |
Element |
Value |
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Risk/Return [Heading] |
rr_RiskReturnHeading |
Nuance Concentrated Value Fund |
|
| Objective [Heading] |
rr_ObjectiveHeading |
Investment Objective |
|
| Objective, Primary [Text Block] |
rr_ObjectivePrimaryTextBlock |
The Nuance Concentrated Value Fund (the “Fund”) seeks long-term capital appreciation. |
|
| Expense [Heading] |
rr_ExpenseHeading |
Fees and Expenses of the Fund |
|
| Expense Narrative [Text Block] |
rr_ExpenseNarrativeTextBlock |
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts 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 and in “Shareholder Information - Class Descriptions” of the Fund’s statutory Prospectus on page 18. |
|
| 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 the annual fund operating expenses or in the Example, affect the Fund’s performance. For the fiscal year ended April 30, 2013, the Fund’s portfolio turnover rate was 110% of the average value of its portfolio. |
|
| Portfolio Turnover, Rate |
rr_PortfolioTurnoverRate |
110.00% |
|
| Expenses Deferred Charges [Text Block] |
rr_ExpensesDeferredChargesTextBlock |
No sales charge is payable at the time of purchase on investments of $1 million or more, although the Fund may impose a Contingent Deferred Sales Charge ("CDSC") of 1.00% on certain redemptions of those investments made within 12 months of the purchase. If imposed, the CDSC applies to redemptions made within 12 months of purchase and will be assessed on an amount equal to the lesser of the initial value of the shares redeemed and the value of shares redeemed at the time of redemption. |
|
| Expense Breakpoint Discounts [Text] |
rr_ExpenseBreakpointDiscounts |
You may qualify for sales charge discounts 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 |
|
| Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] |
rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees |
The Total Annual Fund Operating Expenses After Expense (Reimbursement)/Recoupment does not correlate to the ratio of expenses to average net assets included in the Financial Highlights section of the Fund's statutory Prospectus, which reflects the operating expenses of the Fund and does not include acquired fund fees and expenses. |
|
| Expense Example [Heading] |
rr_ExpenseExampleHeading |
Example |
|
| Expense Example Narrative [Text Block] |
rr_ExpenseExampleNarrativeTextBlock |
This Example is intended to help you compare the costs 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 (taking into account the expense limitation and any recoupment for one year). |
|
| Expense Example by, Year, Caption [Text] |
rr_ExpenseExampleByYearCaption |
Although your actual costs may be higher or lower, based on these assumptions, your costs would be: |
|
| Strategy [Heading] |
rr_StrategyHeading |
Principal Investment Strategies |
|
| Strategy Narrative [Text Block] |
rr_StrategyNarrativeTextBlock |
The Fund invests primarily in common stocks of companies organized in the United States that the Adviser believes are high quality, though temporarily out of favor. The Fund typically invests in a portfolio of 15 to 35 companies of various market capitalizations and is considered an all-cap strategy. Although the Fund will invest primarily in the common stocks of U.S. companies, the Fund may invest up to 25% of its assets in common stocks of foreign companies that are organized and headquartered in countries classified as “developed” by MSCI. As of June 30, 2013, the following countries were classified as “developed” by MSCI: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, UK, and the United States.
The Adviser selects securities for the Fund’s investment portfolio by using an extensive quantitative screening and fundamental research process that identifies leading businesses selling at a discount to fair value with the potential to generate above-average rates of returns over time. The Adviser seeks to identify companies across a range of industries and market sectors that have leading and sustainable market share positions, above-average financial strength, and are trading at a discount to its internal view of intrinsic value. The Adviser may sell an investment when it achieves or surpasses the Adviser’s proprietary view of intrinsic value or when a security’s competitive position or financial situation erodes beyond the Adviser’s expectations.
At the discretion of the Adviser, the Fund may invest up to 100% of its assets in cash, cash equivalents, and high-quality, short-term debt securities and money market instruments for temporary defensive purposes in response to adverse market, economic or political conditions, which may result in the Fund not achieving its investment objective.
The Fund may also hold short-term debt securities and money market instruments to retain flexibility in meeting redemptions and paying expenses.
The Fund is “non-diversified,” meaning that a relatively high percentage of its assets may be invested in a limited number of issuers of securities. |
|
| Risk [Heading] |
rr_RiskHeading |
Principal Risks |
|
| Risk Narrative [Text Block] |
rr_RiskNarrativeTextBlock |
As with any mutual fund, there are risks to investing. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. Remember, in addition to possibly not achieving your investment goals, you could lose all or a portion of your investment in the Fund over short or even long periods of time. The principal risks of investing in the Fund are:
General Market Risk. The Fund’s net asset value and investment return will fluctuate based upon changes in the value of its portfolio securities. Certain securities selected for the Fund’s portfolio may be worth less than the price originally paid for them, or less than they were worth at an earlier time.
New Fund Risk. The Fund has limited operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size, in which case the Trust’s Board of Trustees (“Board of Trustees”) may determine to liquidate the Fund.
Adviser Risk. The Adviser has limited experience managing a mutual fund.
Management Risk. The Fund may not meet its investment objective or may underperform investment vehicles with similar strategies if the Adviser cannot successfully implement the Fund’s investment strategies.
Non-Diversified Fund Risk. Because the Fund is “non-diversified” and may invest a greater percentage of its assets in the securities of a single issuer, a decline in the value of an investment in a single issuer could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio.
Value-Style Investing Risk. The Fund’s value investments are subject to the risk that their intrinsic values may not be recognized by the broad market or that their prices may decline.
Equity Securities Risk. The equity securities held in the Fund’s portfolio may experience sudden, unpredictable drops in value or long periods of decline in value. This may occur because of factors that affect securities markets generally or factors affecting specific industries, sectors or companies in which the Fund invests.
Large-Cap, Mid-Cap and Small-Cap Companies Risk. The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion. Securities of mid-cap and small-cap companies may be more volatile and less liquid than the securities of large-cap companies.
Foreign Securities Risk. Foreign companies involve risks not generally associated with investment in the securities of U.S. companies, including risks relating to political, social and economic developments abroad and differences between U.S. and foreign regulatory requirements and market practices, including fluctuations in foreign currencies. |
|
| Risk Lose Money [Text] |
rr_RiskLoseMoney |
Remember, in addition to possibly not achieving your investment goals, you could lose all or a portion of your investment in the Fund over short or even long periods of time. |
|
| Risk Nondiversified Status [Text] |
rr_RiskNondiversifiedStatus |
Because the Fund is "non-diversified" and may invest a greater percentage of its assets in the securities of a single issuer, a decline in the value of an investment in a single issuer could cause the Fund's overall value to decline to a greater degree than if the Fund held a more diversified portfolio. |
|
| Risk Not Insured Depository Institution [Text] |
rr_RiskNotInsuredDepositoryInstitution |
An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. |
|
| Bar Chart and Performance Table [Heading] |
rr_BarChartAndPerformanceTableHeading |
Performance |
|
| Performance Narrative [Text Block] |
rr_PerformanceNarrativeTextBlock |
The accompanying bar chart and table provide some indication of the risks of investing in the Fund by showing the Fund’s total return for year ended December 31, 2012. Figures shown in the bar chart are for the Fund’s Institutional Class shares and do not reflect sales charges, which would lower returns. Following the bar chart is the Fund’s highest and lowest quarterly returns during the period shown in the bar chart. The performance table that follows shows the Fund’s returns compared with broad-based market indices. Fund returns shown in the performance table reflect the maximum sales charge of 5.75% for the Fund’s Investor Class shares. Past performance (before and after taxes) will not necessarily continue in the future. Updated performance is available on the Fund’s website at http://www.nuanceinvestments.com/concentrated-value-fund or by calling 1-855-NUANCE3 (1-855-682-6233). |
|
| Performance Information Illustrates Variability of Returns [Text] |
rr_PerformanceInformationIllustratesVariabilityOfReturns |
The accompanying bar chart and table provide some indication of the risks of investing in the Fund by showing the Fund's total return for year ended December 31, 2012. |
|
| Performance Availability Phone [Text] |
rr_PerformanceAvailabilityPhone |
1-855-682-6233 |
|
| Performance Availability Website Address [Text] |
rr_PerformanceAvailabilityWebSiteAddress |
http://www.nuanceinvestments.com/concentrated-value-fund |
|
| Performance Past Does Not Indicate Future [Text] |
rr_PerformancePastDoesNotIndicateFuture |
Past performance (before and after taxes) will not necessarily continue in the future. |
|
| Bar Chart Does Not Reflect Sales Loads [Text] |
rr_BarChartDoesNotReflectSalesLoads |
Figures shown in the bar chart are for the Fund's Institutional Class shares and do not reflect sales charges, which would lower returns. |
|
| Bar Chart Closing [Text Block] |
rr_BarChartClosingTextBlock |
| | | | | | | | | | Best Quarter | Worst Quarter | | | Q1 2012 10.01% | Q2 2012 (3.35)% | | | | | | | Year-to-Date as of June 30, 2013 | | | 12.80% | | | | | | | | |
|
| Year to Date Return, Label |
rr_YearToDateReturnLabel |
Year-to-Date |
|
| Bar Chart, Year to Date Return, Date |
rr_BarChartYearToDateReturnDate |
Jun. 30,
2013 |
|
| Bar Chart, Year to Date Return |
rr_BarChartYearToDateReturn |
12.80% |
|
| Highest Quarterly Return, Label |
rr_HighestQuarterlyReturnLabel |
Best Quarter |
|
| Highest Quarterly Return, Date |
rr_BarChartHighestQuarterlyReturnDate |
Mar. 31,
2012 |
|
| Highest Quarterly Return |
rr_BarChartHighestQuarterlyReturn |
10.01% |
|
| Lowest Quarterly Return, Label |
rr_LowestQuarterlyReturnLabel |
Worst Quarter |
|
| Lowest Quarterly Return, Date |
rr_BarChartLowestQuarterlyReturnDate |
Jun. 30,
2012 |
|
| Lowest Quarterly Return |
rr_BarChartLowestQuarterlyReturn |
(3.35%) |
|
| Performance Table Does Reflect Sales Loads |
rr_PerformanceTableDoesReflectSalesLoads |
Fund returns shown in the performance table reflect the maximum sales charge of 5.75% for the Fund's Investor Class shares. |
|
| 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 situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts ("IRAs"). |
|
| Performance Table Closing [Text Block] |
rr_PerformanceTableClosingTextBlock |
After tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”). |
|
| Caption |
rr_AverageAnnualReturnCaption |
Average Annual Total Returns for the periods ended December 31, 2012 |
|
|
S&P 500 Index
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Label |
rr_AverageAnnualReturnLabel |
S&P 500 Index |
|
| Average Annual Returns, 1 Year |
rr_AverageAnnualReturnYear01 |
16.00% |
|
| Average Annual Returns, Since Inception |
rr_AverageAnnualReturnSinceInception |
6.11% |
|
| Average Annual Returns, Inception Date |
rr_AverageAnnualReturnInceptionDate |
May 31,
2011 |
|
|
Russell 3000 Value Total Return Index
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Label |
rr_AverageAnnualReturnLabel |
Russell 3000 Value Total Return Index |
|
| Average Annual Returns, 1 Year |
rr_AverageAnnualReturnYear01 |
17.55% |
|
| Average Annual Returns, Since Inception |
rr_AverageAnnualReturnSinceInception |
5.42% |
|
| Average Annual Returns, Inception Date |
rr_AverageAnnualReturnInceptionDate |
May 31,
2011 |
|
|
Investor Class
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Maximum Front-End Sales Charge (Load) Imposed on Purchases (as a percentage of the offering price) |
rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice |
5.75% |
|
| Maximum Deferred Sales Charge (Load) (as a percentage of the offering price) |
rr_MaximumDeferredSalesChargeOverOther |
none
|
[1] |
| Management Fees |
rr_ManagementFeesOverAssets |
0.85% |
|
| Distribution and Service (12b-1) Fees |
rr_DistributionAndService12b1FeesOverAssets |
0.25% |
|
| Shareholder Service Fees |
rr_Component1OtherExpensesOverAssets |
0.05% |
|
| Other Expenses |
rr_OtherExpensesOverAssets |
0.42% |
|
| Acquired Fund Fees and Expenses |
rr_AcquiredFundFeesAndExpensesOverAssets |
0.01% |
[2] |
| Total Annual Fund Operating Expenses |
rr_ExpensesOverAssets |
1.58% |
|
| Expense (Reimbursement)/Recoupment |
rr_FeeWaiverOrReimbursementOverAssets |
(0.17%) |
[3] |
| Total Annual Fund Operating Expenses After Expense (Reimbursement)/Recoupment |
rr_NetExpensesOverAssets |
1.41% |
[3] |
| Expense Example, with Redemption, 1 Year |
rr_ExpenseExampleYear01 |
710 |
|
| Expense Example, with Redemption, 3 Years |
rr_ExpenseExampleYear03 |
1,029 |
|
| Expense Example, with Redemption, 5 Years |
rr_ExpenseExampleYear05 |
1,371 |
|
| Expense Example, with Redemption, 10 Years |
rr_ExpenseExampleYear10 |
2,332 |
|
| Label |
rr_AverageAnnualReturnLabel |
Investor Class Return Before Taxes |
|
| Average Annual Returns, 1 Year |
rr_AverageAnnualReturnYear01 |
9.91% |
[4] |
| Average Annual Returns, Since Inception |
rr_AverageAnnualReturnSinceInception |
3.06% |
[4] |
| Average Annual Returns, Inception Date |
rr_AverageAnnualReturnInceptionDate |
May 31,
2011 |
[4] |
|
Institutional Class Shares
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Maximum Front-End Sales Charge (Load) Imposed on Purchases (as a percentage of the offering price) |
rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice |
none
|
|
| Maximum Deferred Sales Charge (Load) (as a percentage of the offering price) |
rr_MaximumDeferredSalesChargeOverOther |
none
|
|
| Management Fees |
rr_ManagementFeesOverAssets |
0.85% |
|
| Distribution and Service (12b-1) Fees |
rr_DistributionAndService12b1FeesOverAssets |
none
|
|
| Shareholder Service Fees |
rr_Component1OtherExpensesOverAssets |
0.05% |
|
| Other Expenses |
rr_OtherExpensesOverAssets |
0.50% |
|
| Acquired Fund Fees and Expenses |
rr_AcquiredFundFeesAndExpensesOverAssets |
0.01% |
[2] |
| Total Annual Fund Operating Expenses |
rr_ExpensesOverAssets |
1.41% |
|
| Expense (Reimbursement)/Recoupment |
rr_FeeWaiverOrReimbursementOverAssets |
(0.25%) |
[3] |
| Total Annual Fund Operating Expenses After Expense (Reimbursement)/Recoupment |
rr_NetExpensesOverAssets |
1.16% |
[3] |
| Expense Example, with Redemption, 1 Year |
rr_ExpenseExampleYear01 |
118 |
|
| Expense Example, with Redemption, 3 Years |
rr_ExpenseExampleYear03 |
422 |
|
| Expense Example, with Redemption, 5 Years |
rr_ExpenseExampleYear05 |
747 |
|
| Expense Example, with Redemption, 10 Years |
rr_ExpenseExampleYear10 |
$ 1,669 |
|
| Annual Return 2012 |
rr_AnnualReturn2012 |
16.91% |
|
| Label |
rr_AverageAnnualReturnLabel |
Institutional Class Return Before Taxes |
|
| Average Annual Returns, 1 Year |
rr_AverageAnnualReturnYear01 |
16.91% |
|
| Average Annual Returns, Since Inception |
rr_AverageAnnualReturnSinceInception |
7.24% |
[4] |
| Average Annual Returns, Inception Date |
rr_AverageAnnualReturnInceptionDate |
May 31,
2011 |
|
|
Institutional Class Shares | After Taxes on Distributions
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Label |
rr_AverageAnnualReturnLabel |
Institutional Class Return After Taxes on Distributions |
|
| Average Annual Returns, 1 Year |
rr_AverageAnnualReturnYear01 |
16.09% |
|
| Average Annual Returns, Since Inception |
rr_AverageAnnualReturnSinceInception |
6.70% |
[4] |
|
Institutional Class Shares | After Taxes on Distributions and Sale of Fund Shares
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Label |
rr_AverageAnnualReturnLabel |
Institutional Class Return After Taxes on Distributions and Sale of Fund Shares |
|
| Average Annual Returns, 1 Year |
rr_AverageAnnualReturnYear01 |
11.62% |
|
| Average Annual Returns, Since Inception |
rr_AverageAnnualReturnSinceInception |
6.05% |
[4] |
|
|
|