GemCom, LLC

0000910472-12-003973.txt : 20121231 0000910472-12-003973.hdr.sgml : 20121231 20121231123329 ACCESSION NUMBER: 0000910472-12-003973 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 6 FILED AS OF DATE: 20121231 DATE AS OF CHANGE: 20121231 EFFECTIVENESS DATE: 20121231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Compass EMP Funds Trust CENTRAL INDEX KEY: 0001547580 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-181176 FILM NUMBER: 121292941 BUSINESS ADDRESS: STREET 1: 450 WIRESLESS BLVD CITY: HAUPPAUGE STATE: NY ZIP: 11788 BUSINESS PHONE: 631-470-2600 MAIL ADDRESS: STREET 1: 450 WIRESLESS BLVD CITY: HAUPPAUGE STATE: NY ZIP: 11788 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Compass EMP Funds Trust CENTRAL INDEX KEY: 0001547580 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-22696 FILM NUMBER: 121292942 BUSINESS ADDRESS: STREET 1: 450 WIRESLESS BLVD CITY: HAUPPAUGE STATE: NY ZIP: 11788 BUSINESS PHONE: 631-470-2600 MAIL ADDRESS: STREET 1: 450 WIRESLESS BLVD CITY: HAUPPAUGE STATE: NY ZIP: 11788

0001547580 S000037768 Compass EMP Managed Futures Strategy Fund

C000116486 Compass EMP Managed Futures Strategy Fund Class A

C000116487 Compass EMP Managed Futures Strategy Fund Class T

C000116488 Compass EMP Managed Futures Strategy Fund Class C

C000116489 Compass EMP Managed Futures Strategy Fund Class I

0001547580 S000037770 Compass EMP U.S. Long/Short Fixed Income Fund

C000116494 Compass EMP U.S. Long/Short Fixed Income Fund Class A

C000116495 Compass EMP U.S. Long/Short Fixed Income Fund Class T

C000116496 Compass EMP U.S. Long/Short Fixed Income Fund Class C

C000116497 Compass EMP U.S. Long/Short Fixed Income Fund Class I

0001547580 S000037772 Compass EMP U.S. Enhanced Fixed Income Fund

C000116502 Compass EMP U.S. Enhanced Fixed Income Fund Class A

C000116503 Compass EMP U.S. Enhanced Fixed Income Fund Class T

C000116504 Compass EMP U.S. Enhanced Fixed Income Fund Class C

C000116505 Compass EMP U.S. Enhanced Fixed Income Fund Class I

0001547580 S000037781 Compass EMP U.S.Long/Short Fund

C000116536 Compass EMP U.S. Long/Short Fund Class A

C000116537 Compass EMP U.S. Long/Short Fund Class T

C000116538 Compass EMP U.S. Long/Short Fund Class C

C000116539 Compass EMP U.S. Long/Short Fund Class I

485BPOS 1 compassemp485bxbrl.htm 485B GemCom, LLC

Securities Act Registration No. 333-181176

Investment Company Act Registration No. 811-22696

As filed with the Securities and Exchange Commission on December 31, 2012

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ý

¨ Pre-Effective Amendment No.

ý Post-Effective Amendment No. 2

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 ý

ý Amendment No. 5

(Check appropriate box or boxes.)

Compass EMP Funds Trust

(Exact Name of Registrant as Specified in Charter)

17605 Wright Street, Omaha, NE 68130

(Address of Principal Executive Offices)(Zip Code)

Registrant’s Telephone Number, including Area Code: (402) 895-1600

The Corporation Trust Company

1209 Orange Street

Wilmington, DE 19801

(Name and Address of Agent for Service)

With copy to:

JoAnn M. Strasser, Thompson Hine LLP

41 South High Street, Suite 1700

Columbus, Ohio 43215

614-469-3265 (phone)

614-469-3361 (fax)

Approximate date of proposed public offering: As soon as practicable after the effective date of the Registration Statement.

It is proposed that this filing will become effective:

X Immediately upon filing pursuant to paragraph (b)

¨ On (date) pursuant to paragraph (b)

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

¨ On (date) pursuant to paragraph (a)(1)

¨ 75 days after filing pursuant to paragraph (a)(2)

¨ On (date) pursuant to paragraph (a)(2) of Rule 485.

If appropriate, check the following box:

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

This filing relates solely to the Compass EMP Managed Futures Strategy Fund, Compass EMP U.S. Long/Short Fixed Income Fund, Compass EMP U.S. Enhanced Fixed Income Fund and Compass EMP U.S. Long/Short Fund, each a series of the Trust.

Signatures

Pursuant to the requirements of the Securities Act of 1933, as amended, and Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this registration statement under rule 485(b) under the Securities Act and has duly caused this Post-Effective Amendment No. 2 to the Registration Statement on Form N-1A to be signed on its behalf by the undersigned, duly authorized in the City of Columbus, State of Ohio on the 28^th day of December, 2012.

COMPASS EMP FUNDS TRUST

(Registrant)

/s/ JoAnn M. Strasser

By: JoAnn M. Strasser

Attorney-in-Fact

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.


Name	Title	Date
/s/ Stephen M. Hammers Stephen M. Hammers*	President (Principal Executive Officer)	December 28, 2012
/s/ Robert W. Walker Robert W. Walker*	Treasurer (Principal Financial Officer	December 28, 2012
/s/ Donald T. Benson* Donald T. Benson	Trustee	December 28, 2012
/s/ John M. Gering* John M. Gering	Trustee	December 28, 2012
/s/ Ottis E. Mims* Ottis E. Mims	Trustee	December 28, 2012
/s/ David Moore* David Moore	Trustee	December 28, 2012

*By: /s/ JoAnn M. Strasser

JoAnn M. Strasser

Attorney-in-Fact

December 28, 2012

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

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The advisor has contractually agreed to waive its fees and reimburse expenses of the Fund, at least until October 31, 2013 to ensure that Total Annual Fund Operating Expenses After Fee Waiver and Reimbursement (exclusive of any taxes, interest, brokerage commissions, acquired fund fees and expenses, 12b-1 distribution and/or servicing fees and extraordinary expenses, such as litigation or reorganization costs, and inclusive of organizational costs incurred prior to the commencement of operations) will not exceed 1.35% for each class of shares of the Fund. The agreement may be terminated only by the Fund's Board of Trustees on 60 days' written notice to the advisor. Estimated for the current fiscal year. The advisor has contractually agreed to waive its fees and reimburse expenses of the Fund, at least until October 31, 2013 to ensure that Total Annual Fund Operating Expenses After Fee Waiver and Reimbursement (exclusive of any taxes, interest, brokerage commissions, acquired fund fees and expenses, 12b-1 distribution and/or servicing fees and extraordinary expenses, such as litigation or reorganization costs, and inclusive of organizational costs incurred prior to the commencement of operations) will not exceed 1.35% for each class of shares of the Fund. The agreement may be terminated only by the Fund's Board of Trustees on 60 days' written notice to the advisor. Estimated for the current fiscal year. The advisor has contractually agreed to waive its fees and reimburse expenses of the Fund, at least until October 31, 2013 to ensure that Total Annual Fund Operating Expenses After Fee Waiver and Reimbursement (exclusive of any taxes, interest, brokerage commissions, acquired fund fees and expenses, 12b-1 distribution and/or servicing fees and extraordinary expenses, such as litigation or reorganization costs, and inclusive of organizational costs incurred prior to the commencement of operations) will not exceed 0.90% for each class of shares of the Fund. The agreement may be terminated only by the Fund's Board of Trustees on 60 days' written notice to the advisor. Estimated for the current fiscal year. The advisor has contractually agreed to waive its fees and reimburse expenses of the Fund, at least until October 31, 2013 to ensure that Total Annual Fund Operating Expenses After Fee Waiver and Reimbursement (exclusive of any taxes, interest, brokerage commissions, acquired fund fees and expenses, 12b-1 distribution and/or servicing fees and extraordinary expenses, such as litigation or reorganization costs, and inclusive of organizational costs incurred prior to the commencement of operations) will not exceed 0.60% for each class of shares of the Fund. The agreement may be terminated only by the Fund's Board of Trustees on 60 days' written notice to the advisor. Compass EMP Funds Trust 485BPOS false 0001547580 2012-12-31 2012-10-29 2012-11-01 2012-11-01 Compass EMP U.S.Long/Short Fund Example:  This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. 729 1107 532 969 239 792 138 488 ~ http://www.CompassEMPFunds.com/20121029/role/ScheduleExpenseExampleTransposed20003 column dei_LegalEntityAxis compact cik0001547580_S000037781Member 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 each 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 Risks of Investing in the Fund As with any mutual fund, there is no guarantee that the Fund will achieve its goal.  The Fund’s returns will vary and you could lose money on your investment in the Fund.  The Fund is not intended to be a complete investment program. · Fixed Income Risk. The value of the Fund’s direct or indirect investments in <strike></strike>fixed income securities will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of <strike></strike>fixed income securities owned by the Fund. On the other hand, if rates fall, the value of the fixed income securities generally increases. The value of fixed income securities typically falls when an issuer’s credit quality declines and may even become worthless if an issuer defaults. · Futures Risk. The Fund’s use of futures contracts exposes the Fund to leverage and tracking risks because a small investment in futures contracts may produce large losses and futures contracts may not be perfect substitutes for securities. · Junk Bond Risk.  Lower-quality fixed income securities, known as "high yield" or "junk" bonds, present greater risk than bonds of higher quality, including an increased risk of default.  These securities are considered speculative.   · Leverage Risk. Using derivatives to increase the Fund’s combined long and short exposure creates leverage, which can magnify the Fund’s potential for gain or loss and, therefore, amplify the effects of market volatility on the Fund’s share price. · Limited History of Operations.  The Fund is a new mutual fund and has a limited history of operation.   · Management Risk.  The Advisor’s asset selection methodology may produce incorrect judgments about the value a particular asset and may not produce the desired results.   · Short Position Risk.  The Fund will incur a loss as a result of a short position if the price of the short position instrument increases in value between the date of the short position sale and the date on which an offsetting position is purchased.  Short positions may be considered speculative transactions and involve special risks, including greater reliance on the Advisor’s ability to accurately anticipate the future value of a security or instrument.  The Fund’s losses are potentially unlimited in a short position transaction. · Stock Market Risk. Overall stock market risks may affect the value of the Fund. Factors such as domestic economic growth and market conditions, interest rate levels and political events affect the securities markets. · Underlying Funds Risk.  Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.   The Fund's returns will vary and you could lose money on your investment in the Fund. 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 or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds.  More information about these and other discounts is available from your financial professional and in How to Buy Shares on page [_] of the Fund’s Prospectus. 0.0575 0.0350 0.0000 0.0000 -15.00 -15.00 -15.00 -15.00 0.0125 0.0125 0.0125 0.0125 0.0025 0.0050 0.0100 0.0000 0.0037 0.0037 0.0037 0.0037 0.0001 0.0001 0.0001 0.0001 0.0188 0.0213 0.0263 0.0163 -0.0027 -0.0027 -0.0027 -0.0027 0.0161 0.0186 0.0236 0.0136 ~ http://www.CompassEMPFunds.com/20121029/role/ScheduleShareholderFees20001 column dei_LegalEntityAxis compact cik0001547580_S000037781Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://www.CompassEMPFunds.com/20121029/role/ScheduleAnnualFundOperatingExpenses20002 column dei_LegalEntityAxis compact cik0001547580_S000037781Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-10-31 You may qualify for sales charge discounts on purchases of Class A or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds. You may qualify for sales charge discounts on purchases of Class A or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Estimated for the current fiscal year. Estimated for the current fiscal year. 50000 50000 Shareholder Fees (fees paid directly from your investment) Principal Investment Strategies The Fund seeks to achieve its investment objective by investing long or short primarily in a portfolio of equity securities of companies that have their headquarters in the U.S. and the stock of which trades on a U.S. exchange.  The Fund defines equity securities to include common stock, futures on common stock or stock indices, options on common stock; and other entities, including limited partnerships and limited liability companies ("Underlying Funds"), that invest primarily in equity securities.   The Fund will invest its cash in excess of the amount required for futures collateral primarily in fixed <strike></strike>income securities, including U.S. Treasury bills and notes, commercial paper and corporate notes and bonds. With respect to such excess cash investments, the Fund expects the dollar-weighted average fixed <strike></strike>income maturity to be 12 months or less and the <strike></strike>credit quality of such securities to be <strike></strike>primarily investment grade (defined as having a rating of BBB- and above).  However, up to <strike></strike>20 % of the fixed income portfolio may be composed of lower-quality corporate notes and bonds rated B- or higher, which are commonly referred to as <strike></strike>" junk bonds <strike></strike>."  Under normal market conditions, the Fund invests at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in the securities of U.S. issuers.   The Fund’s Advisor uses a proprietary model to determine whether to be long or short in certain equities, industries, sectors or other parts of the equity markets.  The Fund’s Advisor uses the model to attempt to achieve high, low or negative correlations to the broader equity markets.  The Advisor may engage a sub-adviser or sub-advisers to execute a portion of the Fund’s investment strategy. 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.   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 this Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually.  Updated performance information is available by calling 1-888-944-4367. Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. 1-888-944-4367 Investment Objective: The Fund’s objective is capital appreciation. Compass EMP Managed Futures Strategy Fund Example:  This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. 729 1111 532 973 239 796 138 492 ~ http://www.CompassEMPFunds.com/20121029/role/ScheduleExpenseExampleTransposed20008 column dei_LegalEntityAxis compact cik0001547580_S000037768Member 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 each 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 Risks of Investing in the Fund As with any mutual fund, there is no guarantee that the Fund will achieve its goal.  The Fund’s returns will vary and you could lose money on your investment in the Fund.  The Fund is not intended to be a complete investment program. · Commodity Risk. Commodity-related risks include production risks caused by unfavorable weather, animal and plant disease, geologic and environmental factors. Commodity-related risks also include unfavorable changes in government regulation such as tariffs, embargoes or burdensome production rules and restrictions. · Currency Risk.  The Fund’s net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Additionally, certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.   · Fixed Income Risk. The value of the Fund’s direct or indirect investments in <strike></strike>fixed income securities will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of <strike></strike>fixed income securities owned by the Fund. On the other hand, if rates fall, the value of the fixed income securities generally increases. The value of fixed income securities typically falls when an issuer’s credit quality declines and may even become worthless if an issuer defaults. · Foreign Exposure Risk. Special risks associated with investments in foreign markets may include less liquidity, greater volatility, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. · Futures Risk. The Fund’s use of futures contracts exposes the Fund to leverage and tracking risks because a small investment in futures contracts may produce large losses and futures contracts may not be perfect substitutes for securities. · Junk Bond Risk.  Lower-quality fixed income securities, known as "high yield" or "junk" bonds, present greater risk than bonds of higher quality, including an increased risk of default.  These securities are considered speculative.   · Leverage Risk. Using derivatives to increase the Fund’s combined long and short exposure creates leverage, which can magnify the Fund’s potential for gain or loss and, therefore, amplify the effects of market volatility on the Fund’s share price. · Limited History of Operations.  The Fund is a new mutual fund and has a limited history of operation.   · Management Risk.  The Advisor’s asset selection methodology may produce incorrect judgments about the value a particular asset and may not produce the desired results.   · Short Position Risk.  The Fund will incur a loss as a result of a short position if the price of the short position instrument increases in value between the date of the short position sale and the date on which an offsetting position is purchased.  Short positions may be considered speculative transactions and involve special risks, including greater reliance on the Advisor’s ability to accurately anticipate the future value of a security or instrument.  The Fund’s losses are potentially unlimited in a short position transaction. · Underlying Funds Risk.  Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.     · Wholly-Owned Subsidiary Risk. The Subsidiary will not be registered under the Investment Company Act of 1940 ("1940 Act") and, unless otherwise noted in this Prospectus, will not be subject to all of the investor protections of the 1940 Act.  Changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary, respectively, are organized, could result in the inability of the Fund and/or Subsidiary to operate as described in this Prospectus and could negatively affect the Fund and its shareholders. Your cost of investing in the Fund will be higher because you indirectly bear the expenses of the Subsidiary. The Fund's returns will vary and you could lose money on your investment in the Fund. 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 or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds.  More information about these and other discounts is available from your financial professional and in How to Buy Shares on page <strike/>[_] of the Fund’s Prospectus. 0.0575 0.0350 0.0000 0.0000 -15.00 -15.00 -15.00 -15.00 0.0125 0.0125 0.0125 0.0125 0.0025 0.0050 0.0100 0.0000 0.0039 0.0039 0.0039 0.0039 0.0001 0.0001 0.0001 0.0001 0.0190 0.0215 0.0265 0.0165 -0.0029 -0.0029 -0.0029 -0.0029 0.0161 0.0186 0.0236 0.0136 ~ http://www.CompassEMPFunds.com/20121029/role/ScheduleShareholderFees20006 column dei_LegalEntityAxis compact cik0001547580_S000037768Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://www.CompassEMPFunds.com/20121029/role/ScheduleAnnualFundOperatingExpenses20007 column dei_LegalEntityAxis compact cik0001547580_S000037768Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-10-31 You may qualify for sales charge discounts on purchases of Class A or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds. You may qualify for sales charge discounts on purchases of Class A or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Estimated for the current fiscal year. Estimated for the current fiscal year. 50000 50000 Shareholder Fees (fees paid directly from your investment) 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 by investing up to 25% of the Fund’s net assets (measured at the time of investment) in a wholly-owned and controlled subsidiary (the "Subsidiary") that will invest primarily in (long and short) commodity <strike></strike>(such as oil, corn, or gold), currency and financial futures, as well as fixed income securities and other investments intended to serve as margin or collateral for the Subsidiary’s derivative positions.  The Subsidiary may invest in other entities, such as limited partnerships (including commodity pools) and limited liability companies ("Underlying Funds") that invest primarily in (long and short) commodity futures.  When viewed on a consolidated basis, the Subsidiary will be subject to the same investment restrictions as the Fund.  The Subsidiary’s investments in futures contracts are weighted based on the volatility of each contract.   Volatility is a measure of the historical dispersion of a futures contract’s price compared to its mean.  The weight of each futures contract is defined by its own volatility relative to the average volatility of other futures contracts measured over the past 180 days.  Futures contracts with lower volatility receive a higher weighting and futures contracts with higher volatility receive a lower weighting.   The Fund limits its exposure to one commodity to 25%.  The Advisor may engage a sub-adviser or sub-advisers to execute a portion of the Fund’s investment strategy. The Fund will invest the balance of its assets primarily in fixed <strike></strike>income securities, including <strike></strike>domestic and foreign treasury bills and notes, commercial paper and corporate <strike></strike>debt .  The Fund expects the dollar-weighted average fixed <strike></strike>income maturity to be 12 months or less and the <strike></strike>credit quality of such securities to be <strike></strike>primarily investment grade (defined as having a rating of BBB- and above).  However, up to <strike></strike>20 % of the fixed income portfolio may be composed of lower-quality corporate notes and bonds rated B- or higher, which are commonly referred to as <strike></strike>" junk bonds <strike></strike>." 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 this Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually.  Updated performance information is available by calling 1-888-944-4367. Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. 1-888-944-4367 Investment Objective: The Fund’s objective is absolute return. Compass EMP U.S. Long/Short Fixed Income Fund Example:  This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. 686 966 489 825 194 646 93 337 ~ http://www.CompassEMPFunds.com/20121029/role/ScheduleExpenseExampleTransposed20013 column dei_LegalEntityAxis compact cik0001547580_S000037770Member 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 each 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 Risks of Investing in the Fund As with any mutual fund, there is no guarantee that the Fund will achieve its goal.  The Fund’s returns will vary and you could lose money on your investment in the Fund.  The Fund is not intended to be a complete investment program. · Fixed Income Risk. The value of the Fund’s direct or indirect investments in <strike></strike>fixed income securities will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of <strike></strike>fixed income securities owned by the Fund. On the other hand, if rates fall, the value of the fixed income securities generally increases. <strike></strike>The value of fixed income securities typically falls when an issuer’s credit quality declines and may even become worthless if an issuer defaults. · Futures Risk. The Fund’s use of futures contracts exposes the Fund to leverage and tracking risks because a small investment in futures contracts may produce large losses and futures contracts may not be perfect substitutes for securities. · Junk Bond Risk.  Lower-quality fixed income securities, known as "high yield" or "junk" bonds, present greater risk than bonds of higher quality, including an increased risk of default.  These securities are considered speculative.   · Leverage Risk. Using derivatives to increase the Fund’s combined long and short exposure creates leverage, which can magnify the Fund’s potential for gain or loss and, therefore, amplify the effects of market volatility on the Fund’s share price. · Limited History of Operations.  The Fund is a new mutual fund and has a limited history of operation.   · Management Risk.  The Advisor’s asset selection methodology may produce incorrect judgments about the value a particular asset and may not produce the desired results.   · Short Position Risk.  The Fund will incur a loss as a result of a short position if the price of the short position instrument increases in value between the date of the short position sale and the date on which an offsetting position is purchased.  Short positions may be considered speculative transactions and involve special risks, including greater reliance on the Advisor’s ability to accurately anticipate the future value of a security or instrument.  The Fund’s losses are potentially unlimited in a short position transaction. · Underlying Funds Risk.  Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.   The Fund's returns will vary and you could lose money on your investment in the Fund. 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 or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds.  More information about these and other discounts is available from your financial professional and in How to Buy Shares on page <strike/>[_] of the Fund’s Prospectus. 0.0575 0.0350 0.0000 0.0000 -15.00 -15.00 -15.00 -15.00 0.0075 0.0075 0.0075 0.0075 0.0025 0.0050 0.0100 0.0000 0.0037 0.0037 0.0037 0.0037 0.0001 0.0001 0.0001 0.0001 0.0138 0.0163 0.0213 0.0113 -0.0022 -0.0022 -0.0022 -0.0022 0.0116 0.0141 0.0191 0.0091 ~ http://www.CompassEMPFunds.com/20121029/role/ScheduleShareholderFees20011 column dei_LegalEntityAxis compact cik0001547580_S000037770Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://www.CompassEMPFunds.com/20121029/role/ScheduleAnnualFundOperatingExpenses20012 column dei_LegalEntityAxis compact cik0001547580_S000037770Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-10-31 You may qualify for sales charge discounts on purchases of Class A or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds. You may qualify for sales charge discounts on purchases of Class A or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Estimated for the current fiscal year. Estimated for the current fiscal year. 50000 50000 Shareholder Fees (fees paid directly from your investment) Principal Investment Strategies The Fund seeks to achieve its investment objectives primarily by investing (long or short) in U.S. Treasury futures or holding <strike></strike>domestic fixed income securities.  Under normal market conditions, the Fund invests at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in fixed income securities of U.S. issuers, including treasury bills and notes, commercial paper and corporate debt and other forms of indebtedness.  The Fund may invest directly in bond futures, individual <strike></strike>treasury bills or corporate notes and bonds or indirectly in such investments through limited partnerships, limited liability companies and other types of pooled investment vehicles ("Underlying Funds").  Some Underlying Funds that invest in bond or interest rate derivatives may technically be considered commodity pools.   <strike></strike>The Fund’s <strike></strike>investments will be weighted based on the volatility of each investment.   Volatility is a measure of the historical dispersion of an investment’s price compared to its mean.  The weight of each investment is defined by its own volatility relative to the average volatility of other investments measured over the past 180 days.  Investments with lower volatility receive a higher weighting and investments with higher volatility receive a lower weighting.   The Fund seeks to limit risk by hedging during unfavorable market conditions by reducing its exposure to the market.  The Advisor may engage a sub-adviser or sub-advisers to execute a portion of the Fund’s investment strategy.   The Fund will invest its cash in excess of the amount required for futures collateral primarily in fixed <strike></strike>income securities, including U.S. Treasury bills and notes, commercial paper and corporate <strike></strike>debt . With respect to such excess cash investments, the Fund expects the dollar-weighted average fixed <strike></strike>income maturity to be 12 months or less and the <strike></strike>credit quality of such securities to be <strike></strike>primarily investment grade (defined as having a rating of BBB- and above).  However, up to <strike></strike>20 % of the fixed income portfolio may be composed of lower-quality corporate notes and bonds rated B- or higher, which are commonly referred to as <strike></strike>" junk bonds <strike></strike>." 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.   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 this Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually.  Updated performance information is available by calling 1-888-944-4367. Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. 1-888-944-4367 Investment Objective: The Fund’s objective is total return.       Compass EMP U.S. Enhanced Fixed Income Fund Example:  This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. 658 866 459 744 164 563 62 252 ~ http://www.CompassEMPFunds.com/20121029/role/ScheduleExpenseExampleTransposed20018 column dei_LegalEntityAxis compact cik0001547580_S000037772Member 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 each 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 Risks of Investing in the Fund As with any mutual fund, there is no guarantee that the Fund will achieve its goal.  The Fund’s returns will vary and you could lose money on your investment in the Fund.  The Fund is not intended to be a complete investment program. · Fixed Income Risk. The value of the Fund’s direct or indirect investments in <strike></strike>fixed income securities will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of <strike></strike>fixed income securities owned by the Fund. <strike></strike>On the other hand, if rates fall, the value of the fixed income securities generally increases. The value of fixed income securities typically falls when an issuer’s credit quality declines and may even become worthless if an issuer defaults. · Futures Risk.  The Fund’s use of futures contracts exposes the Fund to leverage and tracking risks because a small investment in futures contracts may produce large losses and futures contracts may not be perfect substitutes for securities. · Junk Bond Risk.  Lower-quality fixed income securities, known as "high yield" or "junk" bonds, present greater risk than bonds of higher quality, including an increased risk of default.  These securities are considered speculative.   · Leverage Risk.  Using derivatives to increase the Fund’s long exposure creates leverage, which can magnify the Fund’s potential for gain or loss and, therefore, amplify the effects of market volatility on the Fund’s share price. · Limited History of Operations.  The Fund is a new mutual fund and has a limited history of operation.   · Management Risk.  The Advisor’s asset selection methodology may produce incorrect judgments about the value a particular asset and may not produce the desired results.   · Underlying Funds Risk.  Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.   The Fund's returns will vary and you could lose money on your investment in the Fund. 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 or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds.  More information about these and other discounts is available from your financial professional and in How to Buy Shares on page <strike/>[_] of the Fund’s Prospectus. 0.0575 0.0350 0.0000 0.0000 -15.00 -15.00 -15.00 -15.00 0.0050 0.0050 0.0050 0.0050 0.0025 0.0050 0.0100 0.0000 0.0036 0.0036 0.0036 0.0036 0.0001 0.0001 0.0001 0.0001 0.0112 0.0137 0.0187 0.0087 -0.0026 -0.0026 -0.0026 -0.0026 0.0086 0.0111 0.0161 0.0061 ~ http://www.CompassEMPFunds.com/20121029/role/ScheduleShareholderFees20016 column dei_LegalEntityAxis compact cik0001547580_S000037772Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://www.CompassEMPFunds.com/20121029/role/ScheduleAnnualFundOperatingExpenses20017 column dei_LegalEntityAxis compact cik0001547580_S000037772Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-10-31 You may qualify for sales charge discounts on purchases of Class A or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds. You may qualify for sales charge discounts on purchases of Class A or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Estimated for the current fiscal year. Estimated for the current fiscal year. 50000 50000 Shareholder Fees (fees paid directly from your investment) Principal Investment Strategies The Fund seeks to achieve its investment objectives primarily by investing in long-only U.S. Treasury futures <strike></strike>and domestic fixed income securities.  Under normal market conditions, the Fund invests at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in fixed income securities of U.S. issuers, including treasury bills and notes, commercial paper and corporate debt and other forms of indebtedness.  The Fund may invest directly in bond futures, individual <strike></strike>treasury bills or corporate <strike></strike>debt or indirectly in such investments through limited partnerships, limited liability companies and other types of pooled investment vehicles ("Underlying Funds").  Some Underlying Funds that invest in bond or interest rate derivatives may technically be considered commodity pools.  The Fund’s <strike></strike>investments will be weighted based on the volatility of each investment.   Volatility is a measure of the historical dispersion of an investment’s price compared to its mean.  The weight of each investment is defined by its own volatility relative to the average volatility of other investments measured over the past 180 days.  Investments with lower volatility receive a higher weighting and investments with higher volatility receive a lower weighting.   The Fund will invest its cash in excess of the amount required for futures collateral primarily in fixed <strike></strike>income securities, including <strike></strike>domestic and foreign treasury bills and notes, commercial paper and corporate <strike></strike>debt with <strike></strike>the credit quality of <strike></strike>such securities to be primarily investment grade (defined as having a rating of BBB- and above).  However, up to 20% of the fixed income portfolio may be composed of lower-quality corporate notes and bonds rated B- or higher, which are commonly referred to as "junk bonds."  The Fund’s target bond dollar-weighted duration is three to seven years; however, the Fund may reduce the bond duration based on the rising trend of yields or the declining trend of <strike></strike>fixed income security prices.   <strike></strike> 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.   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 this Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually.  Updated performance information is available by calling 1-888-944-4367. 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cik0001547580-20121029_def.xml EX-101.LAB 5 cik0001547580-20121029_lab.xml Risk/Return: Prospectus: Document Type Document Period End Date Registrant Name Central Index Key Amendment Flag Document Creation Date Document Effective Date Trading Symbol Prospectus Date Risk/Return Summary [Abstract] Compass EMP U.S.Long/Short Fund Compass EMP U.S. Long/Short Fund Class A (Compass EMP U.S.Long/Short Fund) Compass EMP U.S. Long/Short Fund Class A Compass EMP U.S. Long/Short Fund Class T (Compass EMP U.S.Long/Short Fund) Compass EMP U.S. Long/Short Fund Class T Compass EMP U.S. Long/Short Fund Class C (Compass EMP U.S.Long/Short Fund) Compass EMP U.S. Long/Short Fund Class C Compass EMP U.S. Long/Short Fund Class I (Compass EMP U.S.Long/Short Fund) Compass EMP U.S. Long/Short Fund Class I Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) Wire Redemption Fee (per wire redemption; deducted directly from account) Management Fees Distribution and/or Service (12b-1) Fees Other Expenses Acquired Fund Fees and Expenses Total Annual Fund Operating Expenses Fee Waivers and Expense Reimbursement Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursement Expense Example, with Redemption, 1 Year 1 Year Expense Example, No Redemption, 1 Year 1 Year Expense Example, with Redemption, 3 Years 3 Years Expense Example, No Redemption, 3 Years 3 Years Compass EMP Managed Futures Strategy Fund Compass EMP Managed Futures Strategy Fund Class A (Compass EMP Managed Futures Strategy Fund) Compass EMP Managed Futures Strategy Fund Class A Compass EMP Managed Futures Strategy Fund Class T (Compass EMP Managed Futures Strategy Fund) Compass EMP Managed Futures Strategy Fund Class T Compass EMP Managed Futures Strategy Fund Class C (Compass EMP Managed Futures Strategy Fund) Compass EMP Managed Futures Strategy Fund Class C Compass EMP Managed Futures Strategy Fund Class I (Compass EMP Managed Futures Strategy Fund) Compass EMP Managed Futures Strategy Fund Class I Compass EMP U.S. Long/Short Fixed Income Fund Compass EMP U.S. Long/Short Fixed Income Fund Class A (Compass EMP U.S. Long/Short Fixed Income Fund) Compass EMP U.S. Long/Short Fixed Income Fund Class A Compass EMP U.S. Long/Short Fixed Income Fund Class T (Compass EMP U.S. Long/Short Fixed Income Fund) Compass EMP U.S. Long/Short Fixed Income Fund Class T Compass EMP U.S. Long/Short Fixed Income Fund Class C (Compass EMP U.S. Long/Short Fixed Income Fund) Compass EMP U.S. Long/Short Fixed Income Fund Class C Compass EMP U.S. Long/Short Fixed Income Fund Class I (Compass EMP U.S. Long/Short Fixed Income Fund) Compass EMP U.S. Long/Short Fixed Income Fund Class I Compass EMP U.S. Enhanced Fixed Income Fund Compass EMP U.S. Enhanced Fixed Income Fund Class A (Compass EMP U.S. Enhanced Fixed Income Fund) Compass EMP U.S. Enhanced Fixed Income Fund Class A Compass EMP U.S. Enhanced Fixed Income Fund Class T (Compass EMP U.S. Enhanced Fixed Income Fund) Compass EMP U.S. Enhanced Fixed Income Fund Class T Compass EMP U.S. Enhanced Fixed Income Fund Class C (Compass EMP U.S. Enhanced Fixed Income Fund) Compass EMP U.S. Enhanced Fixed Income Fund Class C Compass EMP U.S. Enhanced Fixed Income Fund Class I (Compass EMP U.S. Enhanced Fixed Income Fund) Compass EMP U.S. Enhanced Fixed Income Fund Class I Risk/Return [Heading] Risk/Return [Heading] Objective [Heading] Objective [Heading] Objective, Primary [Text Block] Objective, Primary [Text Block] Objective, Secondary [Text Block] Objective, Secondary [Text Block] Expense [Heading] Expense [Heading] Expense Narrative [Text Block] Expense Narrative [Text Block] Shareholder Fees Caption [Text] Shareholder Fees Caption [Text] Shareholder Fees Column [Text] Shareholder Fees Column [Text] Maximum Cumulative Sales Charge (as a percentage of Offering Price) Maximum Cumulative Sales Charge (as a percentage of Offering Price) Maximum Cumulative Sales Charge (as a percentage) Maximum Cumulative Sales 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