As filed with the Securities and Exchange Commission on November 15, 2012
File Nos. 002-67052 and 811-03023
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933
Post-Effective Amendment No. 387
AND
REGISTRATION STATEMENT UNDER THE
INVESTMENT COMPANY ACT OF 1940
Amendment No. 388
FORUM FUNDS
Three Canal Plaza, Suite 600
Portland, Maine 04101
207-347-2090
Francine J. Rosenberger, Esq.
K&L Gates LLP
1601 K Street, N.W.
Washington, D.C. 20006
Copies to:
Lina Bhatnagar
Atlantic Fund Services
Three Canal Plaza
Portland, ME 04101
It is proposed that this filing will become effective:
[X] immediately upon filing pursuant to Rule 485, paragraph (b)(1)
[ ] on ______________, pursuant to Rule 485, paragraph (b)(1)
[ ] 60 days after filing pursuant to Rule 485, paragraph (a)(1)
[ ] on ______________, pursuant to Rule 485, paragraph (a)(1)
[ ] 75 days after filing pursuant to Rule 485, paragraph (a)(2)
[ ] on ______________, pursuant to Rule 485, paragraph (a)(2)
[ ] this post-effective amendment designates a new effective date for a previously filed post-effective amendment.
This PEA No. 387 is filed for the sole purpose of submitting XBRL exhibit for the risk/return summary first provided in PEA No. 382 to the Trusts Registration Statement.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it has met all of the requirements for effectiveness of this registration statement under Rule 485(b) of the Securities Act of 1933 and has duly caused this amendment to its registration statement on Form N-1A to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Portland, and State of Maine on November 15, 2012.
Forum Funds |
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/s/ Stacey E. Hong |
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Stacey E. Hong, President |
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Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below by the following persons in the capacities indicated on November 15, 2012.
(a) | Principal Executive Officer | |
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| /s/ Stacey E. Hong |
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| Stacey E. Hong |
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| Principal Executive Officer | |
(b) | Principal Financial Officer |
| /s/ Karen Shaw |
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| Karen Shaw |
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| Principal Financial Officer | |
(c) | A majority of the Trustees |
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| John Y. Keffer, Trustee* |
| James C. Cheng, Trustee* |
| J. Michael Parish, Trustee* |
| Costas Azariadis, Trustee* |
| David Tucker, Trustee* |
By: | /s/ Lina Bhatnagar |
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| Lina Bhatnagar |
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| As Attorney-in-fact |
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* Pursuant to powers of attorney previously filed.
EXHIBIT INDEX
Index No. |
| Description of Exhibit |
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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 Label Linkbase | |
EX-101.PRE | XBRL Taxonomy Extension Presentation Linkbase | |
| Label | Element | Value | ||
|---|---|---|---|---|
| [RiskReturnAbstract] | rr_RiskReturnAbstract | |||
| Document Type | dei_DocumentType | 485BPOS | ||
| Document Period End Date | dei_DocumentPeriodEndDate | Jun. 30, 2012 | ||
| Registrant Name | dei_EntityRegistrantName | Forum Funds | ||
| Central Index Key | dei_EntityCentralIndexKey | 0000315774 | ||
| Amendment Flag | dei_AmendmentFlag | false | ||
| Document Creation Date | dei_DocumentCreationDate | Oct. 25, 2012 | ||
| Document Effective Date | dei_DocumentEffectiveDate | Nov. 01, 2012 | ||
| Prospectus Date | rr_ProspectusDate | Nov. 01, 2012 | ||
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DF Dent Midcap Growth Fund
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| [RiskReturnAbstract] | rr_RiskReturnAbstract | |||
| Risk/Return [Heading] | rr_RiskReturnHeading | DF Dent Midcap Growth Fund | ||
| Objective [Heading] | rr_ObjectiveHeading | Investment Objective |
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| Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The objective of the DF Dent Midcap Growth Fund (the Fund) is to seek long-term capital appreciation. |
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| Expense [Heading] | rr_ExpenseHeading | Fees and Expenses |
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| 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. |
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| Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment) |
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| 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) |
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| Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination |
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| Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover. |
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| Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 24% of the average value of its portfolio. |
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| Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 24.00% | ||
| Expense Example by Year [Heading] | rr_ExpenseExampleByYearHeading | Example. |
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| 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. 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 Funds operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
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| Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies |
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| Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund normally invests at least 80% of its net assets (plus borrowings for investment purposes) in equity securities of medium-size companies (80% Policy). For these purposes, the Adviser defines medium-sized companies as those companies with market capitalizations in the range of $507.5 million to $18.5 billion, which was the two-year average of the market capitalization range of companies in the Russell Midcap Growth Index on December 31, 2009 and 2010. The Fund typically invests in U.S.-listed equity securities, including common stocks, preferred stocks, securities convertible into U.S. common stocks, real estate investment trusts (REITs), American Depositary Receipts (ADRs), and exchange-traded funds (ETFs). The Fund invests in equity securities of domestic companies that in the Advisers view possess superior long-term growth characteristics and have strong, sustainable earnings prospects and reasonably valued stock prices. The Fund may invest in companies that do not have particularly strong earnings histories but do have other attributes that in the Advisers view may contribute to accelerated growth in the foreseeable future. The Adviser relies on selecting individual stocks and does not try to predict when the stock market may rise or fall. The Adviser uses in-house research and other sources to conduct analyses of prospective Fund investments. In purchasing Fund investments, the Advisers process begins with an economic analysis of prospective Fund investments across a range of industries. The Adviser then uses fundamental research to identify companies that it believes are well managed, are leaders in an industry niche, are consistent producers or exhibit sustainable growth. The Adviser may sell a security in the Funds portfolio if, for example, it becomes overvalued or its fundamentals change. The Adviser may also change the weighting in a stock if it becomes an excessively large position within the Fund due to appreciation. |
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| Strategy Portfolio Concentration [Text] | rr_StrategyPortfolioConcentration | The Fund normally invests at least 80% of its net assets (plus borrowings for investment purposes) in equity securities of medium-size companies (80% Policy). For these purposes, the Adviser defines medium-sized companies as those companies with market capitalizations in the range of $507.5 million to $18.5 billion, which was the two-year average of the market capitalization range of companies in the Russell Midcap Growth Index on December 31, 2009 and 2010. | ||
| Risk [Heading] | rr_RiskHeading | Principal Investment Risks |
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| Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The Funds net asset value (NAV) and investment return will fluctuate based upon changes in the value of its portfolio securities. You could lose money on your investment in the Fund or the Fund could underperform other investments. 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 government agency. It is important that investors closely review and understand the risks of investing in the Fund. ADR Risk. The Fund may invest in ADRs. ADR risks include, but are not limited to fluctuations in foreign currencies, political and financial instability, less liquidity and greater volatility, lack of uniform accounting, auditing and financial reporting standards and increased price volatility. ADRs may not track the price of the underlying securities, and their value may change materially at times when the U.S. markets are not open for trading. Convertible Securities Risk. Investments in convertible securities entail some of the risks of both equity and debt securities. The value of convertible securities tends to decline as interest rates rise and, because of the conversion feature, tends to vary with the fluctuations in the market value of the underlying securities. Equity Risk. The Funds equity holdings may decline in value because of changes in price of a particular holding or a broad stock market decline. The value of a security may decline for a number of reasons which directly relate to the issuer of a security. Growth Company Risk. The Funds investments in growth securities may be more sensitive to company earnings and more volatile than the market in general. Management Risk. The Fund is actively managed, and its performance will reflect the Advisers ability to make investment decisions that are suited to achieving the Funds investment objectives. Market Events Risk. Turbulence in the financial markets and reduced liquidity in equity, credit and fixed-income markets may negatively affect issuers worldwide, which could have an adverse effect on the Fund. Mid Capitalization Company Risk. The Funds investments in mid capitalization companies may be less liquid and their securities prices may fluctuate more than those of larger, more established companies. Non-Diversification Risk. The Fund is non-diversified. Investment by the Fund in securities of a limited number of issuers may expose it to greater market risk and potential monetary losses than if its assets were diversified among the securities of a greater number of issuers. Preferred Stock Risk. Preferred stock is a class of a capital stock that typically pays dividends at a specified rate. Preferred stock is generally senior to common stock, but subordinate to debt securities, with respect to the payment of dividends and on liquidation of the issuer. The market value of preferred stock generally decreases when interest rates rise and is also affected by the issuers ability to make payments on the preferred stock. Registered Investment Company and Exchange-Traded Funds Risk. The risks of investment in these securities typically reflect the risks of types of instruments in which the investment companies and Exchange-Traded Funds (ETFs) invest. By investing in another investment company or ETF, the Fund becomes a shareholder of that investment company or ETF and bears its proportionate share of the fees and expenses of the other investment company or ETF. REIT Risk. The value of the Funds investments in REITs may change in response to changes in the real estate market such as declines in the value of real estate, lack of available capital or financing opportunities, and increases in property taxes or operating costs. REITs typically are subject to management fees and other expenses that are separate from those of the Fund. Small Capitalization Company Risk. The Funds investments in small capitalization companies may be less liquid and their securities prices may fluctuate more than those of larger, more established companies. Value Investment Risk. The Fund may invest in securities the Adviser believes are undervalued. The value of the Funds shares may decline, even if stock prices generally are rising because value stocks may fall out of favor with the market or react differently to market, political and economic developments. |
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| Risk Lose Money [Text] | rr_RiskLoseMoney | You could lose money on your investment in the Fund or the Fund could underperform other investments. |
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| Risk Nondiversified Status [Text] | rr_RiskNondiversifiedStatus | Non-Diversification Risk. The Fund is non-diversified. Investment by the Fund in securities of a limited number of issuers may expose it to greater market risk and potential monetary losses than if its assets were diversified among the securities of a greater number of issuers. |
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| 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 government agency. |
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| Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance Information |
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| Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | Performance information for the Fund is not provided because the Fund has not been operational for a full calendar year. |
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DF Dent Midcap Growth Fund | DF Dent Midcap Growth Fund
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| [RiskReturnAbstract] | rr_RiskReturnAbstract | |||
| Trading Symbol | dei_TradingSymbol | DFDMX | ||
| Maximum 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_MaximumDeferredSalesChargeOverOfferingPrice | none | ||
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Distributions (as a percentage of the offering price) | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||
| Redemption Fee (as a percentage of amount redeemed within 60 days of purchase, if applicable) | rr_RedemptionFeeOverRedemption | (2.00%) | ||
| Exchange Fee (as a percentage of amount redeemed, if applicable) | rr_ExchangeFeeOverRedemption | none | ||
| Management Fees | rr_ManagementFeesOverAssets | 1.00% | ||
| Distribution and/or Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||
| Other Expenses | rr_OtherExpensesOverAssets | 2.45% | ||
| Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 3.45% | ||
| Fee Waiver and/or Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (2.35%) | [1] | |
| Net Annual Fund Operating Expenses | rr_NetExpensesOverAssets | 1.10% | ||
| Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | 112 | ||
| 3 Years | rr_ExpenseExampleYear03 | 350 | ||
| Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 1,136 | ||
| Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | 3,210 | ||
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DF Dent Premier Growth Fund
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| [RiskReturnAbstract] | rr_RiskReturnAbstract | |||
| Risk/Return [Heading] | rr_RiskReturnHeading | DF Dent Premier Growth Fund | ||
| Objective [Heading] | rr_ObjectiveHeading | Investment Objective |
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| Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The objective of the DF Dent Premier Growth Fund (the Fund) is to seek long-term capital appreciation. |
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| Expense [Heading] | rr_ExpenseHeading | Fees and Expenses |
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| 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. |
||
| Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment) |
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| 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) |
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| Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | October 31, 2015 | ||
| Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover. |
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| Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 14% of the average value of its portfolio. |
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| Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 14.00% | ||
| Expense Example by Year [Heading] | rr_ExpenseExampleByYearHeading | Example. |
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| 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. 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 Funds operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
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| Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies |
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| Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund invests primarily in equity securities, such as common, preferred and convertible stock, of domestic companies that possess superior long-term growth characteristics and have strong, sustainable earnings prospects and reasonably valued stock prices. The Fund may also invest in companies that do not have particularly strong earnings histories but do have other attributes that may contribute to accelerated growth in the foreseeable future. The Fund primarily invests in medium- and large-size domestic companies. According to the Adviser, medium-size companies typically have market capitalizations in the range of $1.5 billion to $7 billion, and large-size companies typically have market capitalizations greater than $7 billion. The Funds investment strategy also permits the Fund to invest in small-size companies, which, according to the Adviser, are companies that typically have market capitalizations under $1.5 billion. If the Fund is not invested primarily in medium- and large-size domestic companies due to, among other things, changes in the market capitalization of those companies in the Funds portfolio, the Fund will limit new investments to medium- and large-size domestic companies. The Adviser relies on selecting individual stocks and does not try to predict when the stock market may rise or fall. The Adviser uses in-house research and other sources to conduct analyses of prospective Fund investments. Under normal market conditions, the Fund will typically hold approximately 25-50 stocks. In purchasing Fund investments, the Advisers process begins with an economic analysis of prospective Fund investments across a range of industries. The Adviser then uses fundamental research to identify companies that it believes are well managed, are leaders in an industry niche, are consistent producers or exhibit sustainable growth. The Adviser may sell a stock in the Funds portfolio if, for example, it becomes overvalued or its fundamentals change. The Adviser may also change the weighting in a stock if it becomes an excessively large position within the Fund due to appreciation. |
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| Strategy Portfolio Concentration [Text] | rr_StrategyPortfolioConcentration | The Fund invests primarily in equity securities, such as common, preferred and convertible stock, of domestic companies that possess superior long-term growth characteristics and have strong, sustainable earnings prospects and reasonably valued stock prices. The Fund may also invest in companies that do not have particularly strong earnings histories but do have other attributes that may contribute to accelerated growth in the foreseeable future. The Fund primarily invests in medium- and large-size domestic companies. According to the Adviser, medium-size companies typically have market capitalizations in the range of $1.5 billion to $7 billion, and large-size companies typically have market capitalizations greater than $7 billion. | ||
| Risk [Heading] | rr_RiskHeading | Principal Investment Risks |
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| Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The Funds net asset value (NAV) and investment return will fluctuate based upon changes in the value of its portfolio securities. You could lose money on your investment in the Fund or the Fund could underperform other investments. 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 government agency. It is important that investors closely review and understand the risks of investing in the Fund. Convertible Securities Risk. Investments in convertible securities entail some of the risks of both equity and debt securities. The value of convertible securities tends to decline as interest rates rise and, because of the conversion feature, tends to vary with the fluctuations in the market value of the underlying securities. Equity Risk. The Funds equity holdings may decline in value because of changes in price of a particular holding or a broad stock market decline. The value of a security may decline for a number of reasons which directly relate to the issuer of a security. Focused Portfolio Risk. Since the Fund tends to invest in a smaller number of stocks than do many other similar mutual funds, changes in the value of individual stocks held by the Fund may have a larger impact on the Funds NAV than if the Fund were more broadly invested. Growth Company Risk. The Funds investments in growth securities may be more sensitive to company earnings and more volatile than the market in general. Large Capitalization Company Risk. The Funds investments in large capitalization companies may underperform other segments of the market because they may be less responsive to competitive challenges and opportunities and unable to attain high growth rates during periods of economic expansion. Management Risk. The Fund is actively managed, and its performance will reflect the Advisers ability to make investment decisions that are suited to achieving the Funds investment objectives. Market Events Risk. Turbulence in the financial markets and reduced liquidity in equity, credit and fixed-income markets may negatively affect issuers worldwide, which could have an adverse effect on the Fund. Mid Capitalization Company Risk. The Funds investments in mid capitalization companies may be less liquid and their securities prices may fluctuate more than those of larger, more established companies. Preferred Stock Risk. Preferred stock is a class of a capital stock that typically pays dividends at a specified rate. Preferred stock is generally senior to common stock, but subordinate to debt securities, with respect to the payment of dividends and on liquidation of the issuer. The market value of preferred stock generally decreases when interest rates rise and is also affected by the issuers ability to make payments on the preferred stock. Small Capitalization Company Risk. The Funds investments in small capitalization companies may be less liquid and their securities prices may fluctuate more than those of larger, more established companies. Value Investment Risk. The Fund may invest in securities the Adviser believes are undervalued. The value of the Funds shares may decline, even if stock prices generally are rising because value stocks may fall out of favor with the market or react differently to market, political and economic developments. |
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| Risk Lose Money [Text] | rr_RiskLoseMoney | You could lose money on your investment in the Fund or the Fund could underperform other investments. |
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| 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 government agency. |
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| Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance Information |
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| Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The following chart and table illustrate the variability of the Fund's returns as of December 31, 2011. The chart and table provide some indication of the risks of investing in the Fund by showing the changes in the performance from year to year and how the Funds average annual returns for one, five, and ten years compare to the Standard & Poor's 500 Index (the S&P 500 Index). Updated performance information is available at www.dfdent.com or by calling (866) 2DF-DENT or (866) 233-3368 (toll free). Performance information represents only past performance, before and after taxes, and does not necessarily indicate future results. |
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| Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The following chart and table illustrate the variability of the Fund's returns as of December 31, 2011. |
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| Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | (866) 233-3368 |
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| Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | www.dfdent.com |
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| Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | Performance information represents only past performance, before and after taxes, and does not necessarily indicate future results. |
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| Bar Chart [Heading] | rr_BarChartHeading | Annual Returns as of December 31 |
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| Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | The calendar year-to-date total return as of September 30, 2012 was 12.22%. During the period shown, the highest return for a quarter was 20.09% for the quarter ended June 30, 2009, and the lowest return was -27.35% for the quarter ended December 31, 2008. |
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| Year to Date Return, Label | rr_YearToDateReturnLabel | The calendar year-to-date total return as of September 30, 2012 was |
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| Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Sep. 30, 2012 | ||
| Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | 12.22% | ||
| Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2009 | ||
| Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 20.09% | ||
| Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2008 | ||
| Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (27.35%) | ||
| Performance Table Heading | rr_PerformanceTableHeading | Average
Annual Total Returns (For the periods ended December 31, 2011) |
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| 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. |
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| Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (IRAs). |
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| 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 an investors tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (IRAs). | ||
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DF Dent Premier Growth Fund | DF Dent Premier Growth Fund
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| [RiskReturnAbstract] | rr_RiskReturnAbstract | |||
| Trading Symbol | dei_TradingSymbol | DFDPX | ||
| Maximum 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_MaximumDeferredSalesChargeOverOfferingPrice | none | ||
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Distributions (as a percentage of the offering price) | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||
| Redemption Fee (as a percentage of amount redeemed within 60 days of purchase, if applicable) | rr_RedemptionFeeOverRedemption | none | ||
| Exchange Fee (as a percentage of amount redeemed, if applicable) | rr_ExchangeFeeOverRedemption | none | ||
| Management Fees | rr_ManagementFeesOverAssets | 1.00% | ||
| Distribution and/or Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||
| Other Expenses | rr_OtherExpensesOverAssets | 0.29% | ||
| Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.29% | ||
| Fee Waiver and/or Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.19%) | [1] | |
| Net Annual Fund Operating Expenses | rr_NetExpensesOverAssets | 1.10% | ||
| Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | 112 | ||
| 3 Years | rr_ExpenseExampleYear03 | 350 | ||
| Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 650 | ||
| Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | 1,504 | ||
| Annual Return 2002 | rr_AnnualReturn2002 | (22.32%) | ||
| Annual Return 2003 | rr_AnnualReturn2003 | 33.98% | ||
| Annual Return 2004 | rr_AnnualReturn2004 | 17.88% | ||
| Annual Return 2005 | rr_AnnualReturn2005 | 12.36% | ||
| Annual Return 2006 | rr_AnnualReturn2006 | 9.38% | ||
| Annual Return 2007 | rr_AnnualReturn2007 | 16.55% | ||
| Annual Return 2008 | rr_AnnualReturn2008 | (42.20%) | ||
| Annual Return 2009 | rr_AnnualReturn2009 | 30.30% | ||
| Annual Return 2010 | rr_AnnualReturn2010 | 25.30% | ||
| Annual Return 2011 | rr_AnnualReturn2011 | 1.70% | ||
| Label | rr_AverageAnnualReturnLabel | Return Before Taxes | ||
| 1 Year | rr_AverageAnnualReturnYear01 | 1.70% | ||
| 5 Years | rr_AverageAnnualReturnYear05 | 2.26% | ||
| 10 Years | rr_AverageAnnualReturnYear10 | 5.37% | ||
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DF Dent Premier Growth Fund | After Taxes on Distributions | DF Dent Premier Growth Fund
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| [RiskReturnAbstract] | rr_RiskReturnAbstract | |||
| Label | rr_AverageAnnualReturnLabel | Return After Taxes on Distributions | ||
| 1 Year | rr_AverageAnnualReturnYear01 | 1.70% | ||
| 5 Years | rr_AverageAnnualReturnYear05 | 2.14% | ||
| 10 Years | rr_AverageAnnualReturnYear10 | 5.28% | ||
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DF Dent Premier Growth Fund | After Taxes on Distributions and Sales | DF Dent Premier Growth Fund
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| [RiskReturnAbstract] | rr_RiskReturnAbstract | |||
| Label | rr_AverageAnnualReturnLabel | Return After Taxes on Distributions and Sale of Fund Shares | ||
| 1 Year | rr_AverageAnnualReturnYear01 | 1.10% | ||
| 5 Years | rr_AverageAnnualReturnYear05 | 1.91% | ||
| 10 Years | rr_AverageAnnualReturnYear10 | 4.69% | ||
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DF Dent Premier Growth Fund | S&P 500 Index
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| [RiskReturnAbstract] | rr_RiskReturnAbstract | |||
| Index No Deduction for Fees, Expenses, Taxes [Text] | rr_IndexNoDeductionForFeesExpensesTaxes |
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| Label | rr_AverageAnnualReturnLabel | (reflects no deduction for fees, expenses or taxes) | ||
| 1 Year | rr_AverageAnnualReturnYear01 | 2.11% | ||
| 5 Years | rr_AverageAnnualReturnYear05 | (0.25%) | ||
| 10 Years | rr_AverageAnnualReturnYear10 | 2.92% | ||
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