485BPOS

As filed with the Securities and Exchange Commission May 22, 2013

File Nos. 002-81915 and 811-03668

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM N-1A

REGISTRATION STATEMENT UNDER THE

SECURITIES ACT OF 1933

Post-Effective Amendment No. 49

AND

REGISTRATION STATEMENT UNDER THE

INVESTMENT COMPANY ACT OF 1940

Amendment No. 51

THE WRIGHT MANAGED INCOME TRUST

440 Wheelers Farm Road

Milford, Connecticut 06461

207-347-2000

Christopher A. Madden

Atlantic Fund Services

Three Canal Plaza, Suite 600

Portland, Maine 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.

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 that it 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 Milford, and the State of Connecticut on the 22nd day of May, 2013.

THE WRIGHT MANAGED INCOME TRUST

/s/ Peter M. Donovan

Peter M. Donovan, President

Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment to the Registration Statement has been signed below by the following persons in the capacities indicated and on the 22nd day of May, 2013.

SIGNATURE	TITLE
/s/ Peter M. Donovan	President, Principal Executive Officer
Peter M. Donovan	and Trustee
Michael J. McKeen*	Treasurer, Principal Financial
Michael J. McKeen	and Accounting Officer
James J. Clarke*	Trustee
James J. Clarke
Dorcas R. Hardy*	Trustee
Dorcas R. Hardy
Richard E. Taber*	Trustee
Richard E. Taber

* By: 

/s/ Peter M. Donovan                                                      

Peter M. Donovan

Attorney-in-Fact

Pursuant to power of attorney as previously filed.

EXHIBITS LIST

EXHIBIT

Instance Document

Ex-101.INS

Schema Document

Ex-101.SCH

Definition Linkbase Document

Ex-101.DEF

Label Linkbase Document

Ex-101.LAB

Presentation Linkbase Document

Ex-101.PRE

XML

Label

Element

Value

[RiskReturnAbstract]

rr_RiskReturnAbstract

Document Type

dei_DocumentType

485BPOS

Document Period End Date

dei_DocumentPeriodEndDate

Dec. 31, 2012

Registrant Name

dei_EntityRegistrantName

Wright Managed Income Trust

Central Index Key

dei_EntityCentralIndexKey

0000715165

Amendment Flag

dei_AmendmentFlag

false

Document Creation Date

dei_DocumentCreationDate

Apr. 26, 2013

Document Effective Date

dei_DocumentEffectiveDate

May 01, 2013

Prospectus Date

rr_ProspectusDate

May 01, 2013

Wright Current Income Fund

[RiskReturnAbstract]

rr_RiskReturnAbstract

Risk/Return [Heading]

rr_RiskReturnHeading

Wright Current Income Fund Summary

Objective [Heading]

rr_ObjectiveHeading

Investment Objective

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The Wright Current Income Fund (“WCIF” or “fund”) seeks a high level of current income consistent with moderate fluctuations of principal. “High level” is determined by the investment adviser and measured relative to other fixed income instruments that may seek relative stability of principal.

Expense [Heading]

rr_ExpenseHeading

Fees and Expenses

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.

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

2014-04-30

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block]

rr_PortfolioTurnoverTextBlock

The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 27% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

27.00%

Expense Example by Year [Heading]

rr_ExpenseExampleByYearHeading

Example

Expense Example Narrative [Text Block]

rr_ExpenseExampleNarrativeTextBlock

This Example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. 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 except in year one. 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 at least 80% of its net assets plus borrowings for investment purposes in debt obligations issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities, mortgage-related securities of governmental or corporate issuers and corporate debt securities. The U.S. Government securities in which the fund may invest are bills, notes, and bonds issued by the U.S. Treasury which are direct obligations of the U.S. Government; securities of the Government National Mortgage Association (“GNMA” or “Ginnie Mae”) or the Export-Import Bank of the United States (“Ex-Im Bank”), which are obligations of U.S. Government agencies and instrumentalities secured by the full faith and credit of the U.S. Treasury; obligations secured by the right to borrow from the U.S. Treasury; and securities of the Federal Home Loan Bank (“FHLB”), the Federal National Mortgage Association (“FNMA” or “Fannie Mae”), and the Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”) which are obligations backed only by the credit of the government agency itself. In addition, the fund’s investments may include mortgage-backed securities of any maturity or type guaranteed by, or secured by collateral that is guaranteed by, the U.S. Government, its agencies, instrumentalities or its sponsored corporations; and privately-issued mortgage-backed and asset-backed securities of any maturity or type (rated at the time of investment BBB- or better by S&P and Fitch or Baa3 or better by Moody’s or of comparable quality as determined by the Adviser if unrated at the time of investment).

The fund may invest in commercial paper, certificates of deposit, bankers acceptances rated A-1 by Standard & Poor’s Ratings Group (“S&P”) and Fitch, Inc. (“Fitch”) or P-1 by Moody’s Investor Services, Inc. (“Moody’s”). The fund may also invest in corporate obligations with maturities longer than one year rated BBB- or better by S&P and Fitch or Baa3 or better by Moody’s or of comparable quality as determined by the Adviser if unrated at the time of investment. Should a security in which the fund invests decline in credit quality, the security may be sold. The fund reinvests all principal payments. There are no limits on the minimum or maximum weighted average maturity of the fund’s portfolio or an individual security. As of December 31, 2012, the fund’s average maturity was 4.3 years and its duration was 2.5 years. Duration measures how quickly the principal and interest of a bond is expected to be paid. It is also used to predict how much a bond’s value will rise and fall in response to small changes in interest rates. Generally, the shorter a fund’s duration, the less its securities will decline in value when there is an increase in interest rates. The fund seeks to outperform the Barclays GNMA Index. Securities held in the fund may have variable rates or may have fixed rates for a specified period before becoming variable at a predetermined positive or negative increment versus a widely available index or benchmark such as the 3-month London Interbank Offer Rate (“LIBOR”) or 3-month U.S. Treasury Bills.

In order to respond to adverse market, economic, political or other conditions, the fund may assume a temporary defensive position that is inconsistent with its principal investment strategies.

Strategy Portfolio Concentration [Text]

rr_StrategyPortfolioConcentration

The fund invests at least 80% of its net assets plus borrowings for investment purposes in debt obligations issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities, mortgage-related securities of governmental or corporate issuers and corporate debt securities.

Risk [Heading]

rr_RiskHeading

Principal Risks

Risk Narrative [Text Block]

rr_RiskNarrativeTextBlock

· General Investing 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. The fund is not a complete investment program and you may lose money by investing in the fund. All investments carry risk and there is no guarantee that the fund will be able to achieve its investment objective.

· Management Risk: The fund is actively managed and its performance, therefore, will reflect the Adviser's ability to make investment decisions which are suited to achieving the fund's investment objective. Due to its active management, the fund could underperform other mutual funds with similar investment objectives.

· Government Securities Risk: The fund invests in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as Ginnie Mae, Fannie Mae, or Freddie Mac securities). Unlike Ginnie Mae securities, securities issued or guaranteed by U.S. government-related organizations such as Fannie Mae and Freddie Mac are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government would provide financial support. Therefore, U.S. government-related organizations such as Fannie Mae or Freddie Mac may not have the funds to meet their payment obligations in the future.

· Mortgage-Related and Other Asset-Backed Securities Risk: The fund may invest in a variety of mortgage-related and other asset-backed securities which are subject to interest rate risk, credit risk, extension risk and prepayment risk.

· Interest Rate Risk: Bond prices fall when interest rates rise and vice versa. The longer the duration of a bond, the greater sensitivity the bond has to changes in interest rates and greater the potential change in price. Also, the fund’s yield may decline during times of falling interest rates. Inflationary and deflationary pressures may impact interest rates.

· Credit or Default Risk: An issuer’s credit rating may be downgraded or the issuer may be unable to pay principal and interest obligations.

· Prepayment Risk: When interest rates decline, the issuer of a higher yielding security may prepay the principal. This forces the fund to reinvest in lower yielding securities. This risk is especially applicable to mortgage-backed securities, the principal on which may be prepaid at any time. Corporate bonds may have a “call” feature which gives the issuer the right to redeem outstanding bonds before their scheduled maturity.

· Extension Risk: If interest rates rise, repayments of principal on certain fixed-income securities may occur at a slower-than-expected rate and, as a result, the expected maturity of such securities could lengthen which could cause their value to decline and increase such securities’ sensitivity to changes in interest rates.

Risk Lose Money [Text]

rr_RiskLoseMoney

The fund is not a complete investment program and you may lose money by investing in the fund.

Bar Chart and Performance Table [Heading]

rr_BarChartAndPerformanceTableHeading

Performance

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The following chart and table illustrate the variability of the fund's returns as of December 31, 2012. 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 fund's average annual returns for one, five and ten years compare to the Barclays GNMA Index. Updated performance is available on a quarterly basis at www.wrightinvestors.com or by calling 1-800-555-0644 (toll free). As with all mutual funds, past performance (before and after taxes) does not guarantee future results.

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, 2012.

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

800-555-0644

Performance Availability Website Address [Text]

rr_PerformanceAvailabilityWebSiteAddress

www.wrightinvestors.com

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

As with all mutual funds, past performance (before and after taxes) does not guarantee future results.

Bar Chart [Heading]

rr_BarChartHeading

Year-by-Year Total Return as of December 31
WCIF

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

During the period shown, the highest return for a quarter was 3.24% (3rd quarter 2006) and the lowest return was -0.79% (2nd quarter 2004).

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Sep. 30, 2006

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

3.24%

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Jun. 30, 2004

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(0.79%)

Performance Table Heading

rr_PerformanceTableHeading

Average Annual Total Returns as of December 31, 2012

Performance Table Uses Highest Federal Rate

rr_PerformanceTableUsesHighestFederalRate

After-tax returns are calculated using the highest individual federal income tax rates and do not reflect the impact of state and local taxes.

Performance Table Not Relevant to Tax Deferred

rr_PerformanceTableNotRelevantToTaxDeferred

The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Performance Table Closing [Text Block]

rr_PerformanceTableClosingTextBlock

The fund’s annual return shown on the bar chart does not reflect the impact of taxes. The table below shows before and after-tax performance. After-tax returns are calculated using the highest individual federal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Wright Current Income Fund | Wright Current Income Fund

[RiskReturnAbstract]

rr_RiskReturnAbstract

Trading Symbol

dei_TradingSymbol

WCIFX

Management Fees

rr_ManagementFeesOverAssets

0.45%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

Other Expenses

rr_OtherExpensesOverAssets

0.46%

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

1.16%

Fee Waiver

rr_FeeWaiverOrReimbursementOverAssets

(0.16%)

^[1]

Net Annual Fund Operating Expenses After Fee Waiver

rr_NetExpensesOverAssets

1.00%

^[1]

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

102

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

353

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

623

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

1,395

Annual Return 2003

rr_AnnualReturn2003

1.74%

Annual Return 2004

rr_AnnualReturn2004

3.31%

Annual Return 2005

rr_AnnualReturn2005

1.76%

Annual Return 2006

rr_AnnualReturn2006

3.92%

Annual Return 2007

rr_AnnualReturn2007

5.77%

Annual Return 2008

rr_AnnualReturn2008

6.10%

Annual Return 2009

rr_AnnualReturn2009

6.20%

Annual Return 2010

rr_AnnualReturn2010

5.70%

Annual Return 2011

rr_AnnualReturn2011

6.22%

Annual Return 2012

rr_AnnualReturn2012

3.06%

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

3.06%

5 Years

rr_AverageAnnualReturnYear05

5.45%

10 Years

rr_AverageAnnualReturnYear10

4.36%

Wright Current Income Fund | After Taxes on Distributions | Wright Current Income Fund

[RiskReturnAbstract]

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

Return after taxes on distributions

1 Year

rr_AverageAnnualReturnYear01

1.66%

5 Years

rr_AverageAnnualReturnYear05

3.82%

10 Years

rr_AverageAnnualReturnYear10

2.64%

Wright Current Income Fund | After Taxes on Distributions and Sales | Wright Current Income Fund

[RiskReturnAbstract]

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

Return after taxes on distributions and sales of fund shares

1 Year

rr_AverageAnnualReturnYear01

1.98%

5 Years

rr_AverageAnnualReturnYear05

3.70%

10 Years

rr_AverageAnnualReturnYear10

2.73%

Wright Current Income Fund | Barclays GNMA Index

[RiskReturnAbstract]

rr_RiskReturnAbstract

Index No Deduction for Fees, Expenses, Taxes [Text]

rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

Label

rr_AverageAnnualReturnLabel

(reflects no deductions for fees, expenses or taxes)

1 Year

rr_AverageAnnualReturnYear01

2.42%

5 Years

rr_AverageAnnualReturnYear05

6.03%

10 Years

rr_AverageAnnualReturnYear10

5.21%

Wright Total Return Bond Fund

[RiskReturnAbstract]

rr_RiskReturnAbstract

Risk/Return [Heading]

rr_RiskReturnHeading

Wright Total Return Bond Fund Summary

Objective [Heading]

rr_ObjectiveHeading

Investment Objective

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The Wright Total Return Bond Fund (“WTRB” or “fund”) seeks a superior rate of total return, consisting of a high level of income plus price appreciation. “Superior rate” is determined by the investment adviser and measured relative to other bond investments that may seek a high level of income. “High level” is determined by the investment adviser and measured relative to other bond investments that may seek total return.

Expense [Heading]

rr_ExpenseHeading

Fees and Expenses

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.

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

2014-04-30

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block]

rr_PortfolioTurnoverTextBlock

The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 68% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

68.00%

Expense Example by Year [Heading]

rr_ExpenseExampleByYearHeading

Example

Expense Example Narrative [Text Block]

rr_ExpenseExampleNarrativeTextBlock

This Example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. 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 except in year one. 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

Under normal circumstances, the fund invests at least 80% of its net assets plus borrowings for investment purposes in U.S. Government and non-U.S. Government investment grade (rated at the time of investment BBB- or better by S&P and Fitch or Baa3 or better by Moody's or of comparable quality if unrated at the time of investment) debt securities. Government securities in which the fund may invest are bills, notes, and bonds issued by the U.S. Treasury which are direct obligations of the U.S. Government; securities of the Government National Mortgage Association (“GNMA” or “Ginnie Mae”) or the Export-Import Bank of the United States (“Ex-Im Bank”), which are obligations of U.S. Government agencies and instrumentalities secured by the full faith and credit of the U.S. Treasury; obligations secured by the right to borrow from the U.S. Treasury; and securities of the Federal Home Loan Bank (“FHLB”), the Federal National Mortgage Association (“FNMA” or “Fannie Mae”), and the Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”) which are obligations backed only by the credit of the government agency itself. In addition, the fund’s investments may include mortgage-backed securities of any maturity or type guaranteed by, or secured by collateral that is guaranteed by, the U.S. Government, its agencies, instrumentalities or its sponsored corporations; and privately-issued mortgage-backed and asset-backed securities of any maturity or type (rated at the time of investment BBB- or better by S&P and Fitch or Baa3 or better by Moody’s or of comparable quality as determined by the Adviser if unrated at the time of investment). These securities meet the Wright Quality Ratings standards (“Wright Quality Ratings”), which reflect fundamental criteria for investment acceptance, financial strength, profitability & stability and growth. Should a security in which the fund invests decline in its credit quality, the security may be sold. The fund may invest in commercial paper, certificates of deposit, bankers acceptances rated A-1 by S&P and Fitch or P-1 by Moody's. Investment selections differ depending on the trend in interest rates. The fund looks for securities that in Wright's judgment will produce the best total return.

Wright allocates assets among different market sectors (U.S. Treasury securities, U.S. Government agency securities, corporate bonds, and mortgage-backed and asset-backed securities) with different maturities based on its view of the relative value of each sector or maturity. There are no limits on the minimum or maximum weighted average maturity of the fund's portfolio or an individual security. As of December 31, 2012, the fund's average maturity was 6.2 years and its duration was 4.3 years. Duration measures how quickly the principal and interest of a bond is expected to be paid. It is also used to predict how much a bond's value will rise and fall in response to small changes in interest rates. Generally, the shorter a fund's duration, the less its securities will decline in value when there is an increase in interest rates. The fund seeks to outperform the Barclays U.S. Aggregate Index.

In order to respond to adverse market, economic, political or other conditions, the fund may assume a temporary defensive position that is inconsistent with its principal investment strategies.

Strategy Portfolio Concentration [Text]

rr_StrategyPortfolioConcentration

Under normal circumstances, the fund invests at least 80% of its net assets plus borrowings for investment purposes in U.S. Government and non-U.S. Government investment grade (rated at the time of investment BBB- or better by S&P and Fitch or Baa3 or better by Moody's or of comparable quality if unrated at the time of investment) debt securities.

Risk [Heading]

rr_RiskHeading

Principal Risks

Risk Narrative [Text Block]

rr_RiskNarrativeTextBlock

· General Investing 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. The fund is not a complete investment program and you may lose money by investing in the fund. All investments carry risk and there is no guarantee that the fund will be able to achieve its investment objective.

· Management Risk: The fund is actively managed and its performance, therefore, will reflect the Adviser's ability to make investment decisions which are suited to achieving the fund's investment objective. Due to its active management, the fund could underperform other mutual funds with similar investment objectives.

· Government Securities Risk: The fund invests in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as Ginnie Mae, Fannie Mae, or Freddie Mac securities). Unlike Ginnie Mae securities, securities issued or guaranteed by U.S. government-related organizations such as Fannie Mae and Freddie Mac are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government would provide financial support. Therefore, U.S. government-related organizations such as Fannie Mae or Freddie Mac may not have the funds to meet their payment obligations in the future.

· Mortgage-Related and Other Asset-Backed Securities Risk: The fund may invest in a variety of mortgage-related and other asset-backed securities which are subject to interest rate risk, credit risk, extension risk and prepayment risk.

· Interest Rate Risk: Bond prices fall when interest rates rise and vice versa. The longer the duration of a bond, the greater sensitivity the bond has to changes in interest rates and greater the potential change in price. Also, the fund’s yield may decline during times of falling interest rates. Inflationary and deflationary pressures may impact interest rates.

· Credit or Default Risk: An issuer’s credit rating may be downgraded or the issuer may be unable to pay principal and interest obligations.

· Prepayment Risk: When interest rates decline, the issuer of a higher yielding security may prepay the principal. This forces the fund to reinvest in lower yielding securities. This risk is especially applicable to mortgage-backed securities, the principal on which may be prepaid at any time. Corporate bonds may have a “call” feature which gives the issuer the right to redeem outstanding bonds before their scheduled maturity.

· Extension Risk: If interest rates rise, repayments of principal on certain fixed-income securities may occur at a slower-than-expected rate and, as a result, the expected maturity of such securities could lengthen which could cause their value to decline and increase such securities’ sensitivity to changes in interest rates.

· Foreign Securities Risk: Foreign securities are subject to additional risks including currency risk (changes in foreign currency rates reducing the value of the fund’s assets), seizure, expropriation or nationalization of a company’s assets, less publicly available information, and the impact of political, social or diplomatic events.

Risk Lose Money [Text]

rr_RiskLoseMoney

The fund is not a complete investment program and you may lose money by investing in the fund.

Bar Chart and Performance Table [Heading]

rr_BarChartAndPerformanceTableHeading

Performance

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The following chart and table illustrate the variability of the fund's returns as of December 31, 2012. 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 fund's average annual returns for one, five and ten years compare to the Barclays U.S. Aggregate Index. Updated performance is available on a quarterly basis at www.wrightinvestors.com or by calling 1-800-555-0644 (toll free). As with all mutual funds, past performance (before and after taxes) does not guarantee future results.

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, 2012.

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

800-555-0644

Performance Availability Website Address [Text]

rr_PerformanceAvailabilityWebSiteAddress

www.wrightinvestors.com

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

As with all mutual funds, past performance (before and after taxes) does not guarantee future results.

Bar Chart [Heading]

rr_BarChartHeading

Year-by-Year Total Return as of December 31
WTRB

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

During the period shown, the highest return for a quarter was 4.58% (2nd quarter 2009) and the lowest return was -2.48% (2nd quarter 2004).

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Jun. 30, 2009

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

4.58%

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Jun. 30, 2004

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(2.48%)

Performance Table Heading

rr_PerformanceTableHeading

Average Annual Total Returns as of December 31, 2012

Performance Table Uses Highest Federal Rate

rr_PerformanceTableUsesHighestFederalRate

After-tax returns are calculated using the highest individual federal income tax rates and do not reflect the impact of state and local taxes.

Performance Table Not Relevant to Tax Deferred

rr_PerformanceTableNotRelevantToTaxDeferred

The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Performance Table Closing [Text Block]

rr_PerformanceTableClosingTextBlock

The fund’s annual return shown on the bar chart does not reflect the impact of taxes. The table below shows before and after-tax performance. After-tax returns are calculated using the highest individual federal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Wright Total Return Bond Fund | Wright Total Return Bond Fund

[RiskReturnAbstract]

rr_RiskReturnAbstract

Trading Symbol

dei_TradingSymbol

WTRBX

Management Fees

rr_ManagementFeesOverAssets

0.45%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

Other Expenses

rr_OtherExpensesOverAssets

0.71%

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

1.41%

Fee Waiver

rr_FeeWaiverOrReimbursementOverAssets

(0.46%)

^[2]

Net Annual Fund Operating Expenses After Fee Waiver

rr_NetExpensesOverAssets

0.95%

^[2]

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

97

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

401

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

727

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

1,651

Annual Return 2003

rr_AnnualReturn2003

3.25%

Annual Return 2004

rr_AnnualReturn2004

3.52%

Annual Return 2005

rr_AnnualReturn2005

1.54%

Annual Return 2006

rr_AnnualReturn2006

3.34%

Annual Return 2007

rr_AnnualReturn2007

5.64%

Annual Return 2008

rr_AnnualReturn2008

1.69%

Annual Return 2009

rr_AnnualReturn2009

10.53%

Annual Return 2010

rr_AnnualReturn2010

6.18%

Annual Return 2011

rr_AnnualReturn2011

6.68%

Annual Return 2012

rr_AnnualReturn2012

4.16%

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

4.16%

5 Years

rr_AverageAnnualReturnYear05

5.81%

10 Years

rr_AverageAnnualReturnYear10

4.62%

Wright Total Return Bond Fund | After Taxes on Distributions | Wright Total Return Bond Fund

[RiskReturnAbstract]

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

Return after taxes on distributions

1 Year

rr_AverageAnnualReturnYear01

2.91%

5 Years

rr_AverageAnnualReturnYear05

4.26%

10 Years

rr_AverageAnnualReturnYear10

3.06%

Wright Total Return Bond Fund | After Taxes on Distributions and Sales | Wright Total Return Bond Fund

[RiskReturnAbstract]

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

Return after taxes on distributions and sales of fund shares

1 Year

rr_AverageAnnualReturnYear01

2.70%

5 Years

rr_AverageAnnualReturnYear05

4.05%

10 Years

rr_AverageAnnualReturnYear10

3.02%

Wright Total Return Bond Fund | Barclays U.S. Aggregate Index

[RiskReturnAbstract]

rr_RiskReturnAbstract

Index No Deduction for Fees, Expenses, Taxes [Text]

rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

Label

rr_AverageAnnualReturnLabel

(reflects no deductions for fees, expenses or taxes)

1 Year

rr_AverageAnnualReturnYear01

4.21%

5 Years

rr_AverageAnnualReturnYear05

5.95%

10 Years

rr_AverageAnnualReturnYear10

5.18%

[1] Under a written agreement in effect through April 30, 2014, the fund's investment adviser, Wright Investors' Service, Inc. ("Wright" or "Adviser") and the fund's distributor, Wright Investors' Service Distributors, Inc. ("Distributor") waive a portion of their advisory fee and/or distribution fees and assume operating expenses of the fund to the extent necessary to limit the net operating expense ratio to 1.00% (excluding interest, taxes, brokerage commissions, other expenditures which are capitalized in accordance with generally accepted accounting principles, and other extraordinary expenses not incurred in the ordinary course of the fund's business). Net Annual Fund Operating Expenses may exceed the 1.00% limitation if exclusions from the fee waiver apply. This written agreement may be changed or eliminated before April 30, 2014 only with the consent of the fund's board of trustees (the "Board of Trustees" or "Trustees").

[2] Under a written agreement in effect through April 30, 2014, the fund's investment adviser, Wright Investors' Service, Inc. ("Wright" or "Adviser") and the fund's distributor, Wright Investors' Service Distributors, Inc. ("Distributor") waive a portion of their advisory fee and/or distribution fees and assume operating expenses of the fund to the extent necessary to limit the net operating expense ratio to 0.95% (excluding interest, taxes, brokerage commissions, other expenditures which are capitalized in accordance with generally accepted accounting principles, and other extraordinary expenses not incurred in the ordinary course of the fund's business). Net Annual Fund Operating Expenses may exceed the 0.95% limitation if exclusions from the fee waiver apply. This written agreement may be changed or eliminated before April 30, 2014 only with the consent of the fund's board of trustees (the "Board of Trustees" or "Trustees").

XML

Wright Total Return Bond Fund

Investment Objective

The Wright Total Return Bond Fund (“WTRB” or “fund”) seeks a superior rate of total return, consisting of a high level of income plus price appreciation. “Superior rate” is determined by the investment adviser and measured relative to other bond investments that may seek a high level of income. “High level” is determined by the investment adviser and measured relative to other bond investments that may seek total return.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses		Wright Total Return Bond Fund
Management Fees		0.45%
Distribution and Service (12b-1) Fees		0.25%
Other Expenses		0.71%
Total Annual Fund Operating Expenses		1.41%
Fee Waiver	[1]	(0.46%)
Net Annual Fund Operating Expenses After Fee Waiver	[1]	0.95%

Example

This Example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same except in year one. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example (USD $)	1 Year	3 Years	5 Years	10 Years
Wright Total Return Bond Fund	97	401	727	1,651

Portfolio Turnover

The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 68% of the average value of its portfolio.

Principal Investment Strategies

Under normal circumstances, the fund invests at least 80% of its net assets plus borrowings for investment purposes in U.S. Government and non-U.S. Government investment grade (rated at the time of investment BBB- or better by S&P and Fitch or Baa3 or better by Moody's or of comparable quality if unrated at the time of investment) debt securities. Government securities in which the fund may invest are bills, notes, and bonds issued by the U.S. Treasury which are direct obligations of the U.S. Government; securities of the Government National Mortgage Association (“GNMA” or “Ginnie Mae”) or the Export-Import Bank of the United States (“Ex-Im Bank”), which are obligations of U.S. Government agencies and instrumentalities secured by the full faith and credit of the U.S. Treasury; obligations secured by the right to borrow from the U.S. Treasury; and securities of the Federal Home Loan Bank (“FHLB”), the Federal National Mortgage Association (“FNMA” or “Fannie Mae”), and the Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”) which are obligations backed only by the credit of the government agency itself. In addition, the fund’s investments may include mortgage-backed securities of any maturity or type guaranteed by, or secured by collateral that is guaranteed by, the U.S. Government, its agencies, instrumentalities or its sponsored corporations; and privately-issued mortgage-backed and asset-backed securities of any maturity or type (rated at the time of investment BBB- or better by S&P and Fitch or Baa3 or better by Moody’s or of comparable quality as determined by the Adviser if unrated at the time of investment). These securities meet the Wright Quality Ratings standards (“Wright Quality Ratings”), which reflect fundamental criteria for investment acceptance, financial strength, profitability & stability and growth. Should a security in which the fund invests decline in its credit quality, the security may be sold. The fund may invest in commercial paper, certificates of deposit, bankers acceptances rated A-1 by S&P and Fitch or P-1 by Moody's. Investment selections differ depending on the trend in interest rates. The fund looks for securities that in Wright's judgment will produce the best total return.

Wright allocates assets among different market sectors (U.S. Treasury securities, U.S. Government agency securities, corporate bonds, and mortgage-backed and asset-backed securities) with different maturities based on its view of the relative value of each sector or maturity. There are no limits on the minimum or maximum weighted average maturity of the fund's portfolio or an individual security. As of December 31, 2012, the fund's average maturity was 6.2 years and its duration was 4.3 years. Duration measures how quickly the principal and interest of a bond is expected to be paid. It is also used to predict how much a bond's value will rise and fall in response to small changes in interest rates. Generally, the shorter a fund's duration, the less its securities will decline in value when there is an increase in interest rates. The fund seeks to outperform the Barclays U.S. Aggregate Index.

In order to respond to adverse market, economic, political or other conditions, the fund may assume a temporary defensive position that is inconsistent with its principal investment strategies.

Principal Risks

· General Investing 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. The fund is not a complete investment program and you may lose money by investing in the fund. All investments carry risk and there is no guarantee that the fund will be able to achieve its investment objective.

· Management Risk: The fund is actively managed and its performance, therefore, will reflect the Adviser's ability to make investment decisions which are suited to achieving the fund's investment objective. Due to its active management, the fund could underperform other mutual funds with similar investment objectives.

· Government Securities Risk: The fund invests in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as Ginnie Mae, Fannie Mae, or Freddie Mac securities). Unlike Ginnie Mae securities, securities issued or guaranteed by U.S. government-related organizations such as Fannie Mae and Freddie Mac are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government would provide financial support. Therefore, U.S. government-related organizations such as Fannie Mae or Freddie Mac may not have the funds to meet their payment obligations in the future.

· Mortgage-Related and Other Asset-Backed Securities Risk: The fund may invest in a variety of mortgage-related and other asset-backed securities which are subject to interest rate risk, credit risk, extension risk and prepayment risk.

· Interest Rate Risk: Bond prices fall when interest rates rise and vice versa. The longer the duration of a bond, the greater sensitivity the bond has to changes in interest rates and greater the potential change in price. Also, the fund’s yield may decline during times of falling interest rates. Inflationary and deflationary pressures may impact interest rates.

· Credit or Default Risk: An issuer’s credit rating may be downgraded or the issuer may be unable to pay principal and interest obligations.

· Prepayment Risk: When interest rates decline, the issuer of a higher yielding security may prepay the principal. This forces the fund to reinvest in lower yielding securities. This risk is especially applicable to mortgage-backed securities, the principal on which may be prepaid at any time. Corporate bonds may have a “call” feature which gives the issuer the right to redeem outstanding bonds before their scheduled maturity.

· Extension Risk: If interest rates rise, repayments of principal on certain fixed-income securities may occur at a slower-than-expected rate and, as a result, the expected maturity of such securities could lengthen which could cause their value to decline and increase such securities’ sensitivity to changes in interest rates.

· Foreign Securities Risk: Foreign securities are subject to additional risks including currency risk (changes in foreign currency rates reducing the value of the fund’s assets), seizure, expropriation or nationalization of a company’s assets, less publicly available information, and the impact of political, social or diplomatic events.

Performance

The following chart and table illustrate the variability of the fund's returns as of December 31, 2012. 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 fund's average annual returns for one, five and ten years compare to the Barclays U.S. Aggregate Index. Updated performance is available on a quarterly basis at www.wrightinvestors.com or by calling 1-800-555-0644 (toll free). As with all mutual funds, past performance (before and after taxes) does not guarantee future results.

Year-by-Year Total Return as of December 31
WTRB

During the period shown, the highest return for a quarter was 4.58% (2nd quarter 2009) and the lowest return was -2.48% (2nd quarter 2004).

Average Annual Total Returns as of December 31, 2012

Average Annual Total Returns	Label	1 Year	5 Years	10 Years
Wright Total Return Bond Fund	Return before taxes	4.16%	5.81%	4.62%
Wright Total Return Bond Fund After Taxes on Distributions	Return after taxes on distributions	2.91%	4.26%	3.06%
Wright Total Return Bond Fund After Taxes on Distributions and Sales	Return after taxes on distributions and sales of fund shares	2.70%	4.05%	3.02%
Wright Total Return Bond Fund Barclays U.S. Aggregate Index	(reflects no deductions for fees, expenses or taxes)	4.21%	5.95%	5.18%

The fund’s annual return shown on the bar chart does not reflect the impact of taxes. The table below shows before and after-tax performance. After-tax returns are calculated using the highest individual federal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

[1] Under a written agreement in effect through April 30, 2014, the fund's investment adviser, Wright Investors' Service, Inc. ("Wright" or "Adviser") and the fund's distributor, Wright Investors' Service Distributors, Inc. ("Distributor") waive a portion of their advisory fee and/or distribution fees and assume operating expenses of the fund to the extent necessary to limit the net operating expense ratio to 0.95% (excluding interest, taxes, brokerage commissions, other expenditures which are capitalized in accordance with generally accepted accounting principles, and other extraordinary expenses not incurred in the ordinary course of the fund's business). Net Annual Fund Operating Expenses may exceed the 0.95% limitation if exclusions from the fee waiver apply. This written agreement may be changed or eliminated before April 30, 2014 only with the consent of the fund's board of trustees (the "Board of Trustees" or "Trustees").

XML

Wright Current Income Fund

Wright Current Income Fund Summary

Investment Objective

The Wright Current Income Fund (“WCIF” or “fund”) seeks a high level of current income consistent with moderate fluctuations of principal. “High level” is determined by the investment adviser and measured relative to other fixed income instruments that may seek relative stability of principal.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses		Wright Current Income Fund
Management Fees		0.45%
Distribution and Service (12b-1) Fees		0.25%
Other Expenses		0.46%
Total Annual Fund Operating Expenses		1.16%
Fee Waiver	[1]	(0.16%)
Net Annual Fund Operating Expenses After Fee Waiver	[1]	1.00%

Example

This Example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same except in year one. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example (USD $)	1 Year	3 Years	5 Years	10 Years
Wright Current Income Fund	102	353	623	1,395

Portfolio Turnover

The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 27% of the average value of its portfolio.

Principal Investment Strategies

The fund invests at least 80% of its net assets plus borrowings for investment purposes in debt obligations issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities, mortgage-related securities of governmental or corporate issuers and corporate debt securities. The U.S. Government securities in which the fund may invest are bills, notes, and bonds issued by the U.S. Treasury which are direct obligations of the U.S. Government; securities of the Government National Mortgage Association (“GNMA” or “Ginnie Mae”) or the Export-Import Bank of the United States (“Ex-Im Bank”), which are obligations of U.S. Government agencies and instrumentalities secured by the full faith and credit of the U.S. Treasury; obligations secured by the right to borrow from the U.S. Treasury; and securities of the Federal Home Loan Bank (“FHLB”), the Federal National Mortgage Association (“FNMA” or “Fannie Mae”), and the Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”) which are obligations backed only by the credit of the government agency itself. In addition, the fund’s investments may include mortgage-backed securities of any maturity or type guaranteed by, or secured by collateral that is guaranteed by, the U.S. Government, its agencies, instrumentalities or its sponsored corporations; and privately-issued mortgage-backed and asset-backed securities of any maturity or type (rated at the time of investment BBB- or better by S&P and Fitch or Baa3 or better by Moody’s or of comparable quality as determined by the Adviser if unrated at the time of investment).

The fund may invest in commercial paper, certificates of deposit, bankers acceptances rated A-1 by Standard & Poor’s Ratings Group (“S&P”) and Fitch, Inc. (“Fitch”) or P-1 by Moody’s Investor Services, Inc. (“Moody’s”). The fund may also invest in corporate obligations with maturities longer than one year rated BBB- or better by S&P and Fitch or Baa3 or better by Moody’s or of comparable quality as determined by the Adviser if unrated at the time of investment. Should a security in which the fund invests decline in credit quality, the security may be sold. The fund reinvests all principal payments. There are no limits on the minimum or maximum weighted average maturity of the fund’s portfolio or an individual security. As of December 31, 2012, the fund’s average maturity was 4.3 years and its duration was 2.5 years. Duration measures how quickly the principal and interest of a bond is expected to be paid. It is also used to predict how much a bond’s value will rise and fall in response to small changes in interest rates. Generally, the shorter a fund’s duration, the less its securities will decline in value when there is an increase in interest rates. The fund seeks to outperform the Barclays GNMA Index. Securities held in the fund may have variable rates or may have fixed rates for a specified period before becoming variable at a predetermined positive or negative increment versus a widely available index or benchmark such as the 3-month London Interbank Offer Rate (“LIBOR”) or 3-month U.S. Treasury Bills.

In order to respond to adverse market, economic, political or other conditions, the fund may assume a temporary defensive position that is inconsistent with its principal investment strategies.

Principal Risks

· General Investing 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. The fund is not a complete investment program and you may lose money by investing in the fund. All investments carry risk and there is no guarantee that the fund will be able to achieve its investment objective.

· Management Risk: The fund is actively managed and its performance, therefore, will reflect the Adviser's ability to make investment decisions which are suited to achieving the fund's investment objective. Due to its active management, the fund could underperform other mutual funds with similar investment objectives.

· Government Securities Risk: The fund invests in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as Ginnie Mae, Fannie Mae, or Freddie Mac securities). Unlike Ginnie Mae securities, securities issued or guaranteed by U.S. government-related organizations such as Fannie Mae and Freddie Mac are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government would provide financial support. Therefore, U.S. government-related organizations such as Fannie Mae or Freddie Mac may not have the funds to meet their payment obligations in the future.

· Mortgage-Related and Other Asset-Backed Securities Risk: The fund may invest in a variety of mortgage-related and other asset-backed securities which are subject to interest rate risk, credit risk, extension risk and prepayment risk.

· Interest Rate Risk: Bond prices fall when interest rates rise and vice versa. The longer the duration of a bond, the greater sensitivity the bond has to changes in interest rates and greater the potential change in price. Also, the fund’s yield may decline during times of falling interest rates. Inflationary and deflationary pressures may impact interest rates.

· Credit or Default Risk: An issuer’s credit rating may be downgraded or the issuer may be unable to pay principal and interest obligations.

· Prepayment Risk: When interest rates decline, the issuer of a higher yielding security may prepay the principal. This forces the fund to reinvest in lower yielding securities. This risk is especially applicable to mortgage-backed securities, the principal on which may be prepaid at any time. Corporate bonds may have a “call” feature which gives the issuer the right to redeem outstanding bonds before their scheduled maturity.

· Extension Risk: If interest rates rise, repayments of principal on certain fixed-income securities may occur at a slower-than-expected rate and, as a result, the expected maturity of such securities could lengthen which could cause their value to decline and increase such securities’ sensitivity to changes in interest rates.

Performance

The following chart and table illustrate the variability of the fund's returns as of December 31, 2012. 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 fund's average annual returns for one, five and ten years compare to the Barclays GNMA Index. Updated performance is available on a quarterly basis at www.wrightinvestors.com or by calling 1-800-555-0644 (toll free). As with all mutual funds, past performance (before and after taxes) does not guarantee future results.

Year-by-Year Total Return as of December 31
WCIF

During the period shown, the highest return for a quarter was 3.24% (3rd quarter 2006) and the lowest return was -0.79% (2nd quarter 2004).

Average Annual Total Returns as of December 31, 2012

Average Annual Total Returns	Label	1 Year	5 Years	10 Years
Wright Current Income Fund	Return before taxes	3.06%	5.45%	4.36%
Wright Current Income Fund After Taxes on Distributions	Return after taxes on distributions	1.66%	3.82%	2.64%
Wright Current Income Fund After Taxes on Distributions and Sales	Return after taxes on distributions and sales of fund shares	1.98%	3.70%	2.73%
Wright Current Income Fund Barclays GNMA Index	(reflects no deductions for fees, expenses or taxes)	2.42%	6.03%	5.21%

The fund’s annual return shown on the bar chart does not reflect the impact of taxes. The table below shows before and after-tax performance. After-tax returns are calculated using the highest individual federal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Wright Total Return Bond Fund

Wright Total Return Bond Fund Summary

Investment Objective

The Wright Total Return Bond Fund (“WTRB” or “fund”) seeks a superior rate of total return, consisting of a high level of income plus price appreciation. “Superior rate” is determined by the investment adviser and measured relative to other bond investments that may seek a high level of income. “High level” is determined by the investment adviser and measured relative to other bond investments that may seek total return.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses		Wright Total Return Bond Fund
Management Fees		0.45%
Distribution and Service (12b-1) Fees		0.25%
Other Expenses		0.71%
Total Annual Fund Operating Expenses		1.41%
Fee Waiver	[1]	(0.46%)
Net Annual Fund Operating Expenses After Fee Waiver	[1]	0.95%

Example

This Example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same except in year one. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example (USD $)	1 Year	3 Years	5 Years	10 Years
Wright Total Return Bond Fund	97	401	727	1,651

Portfolio Turnover

The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 68% of the average value of its portfolio.

Principal Investment Strategies

Under normal circumstances, the fund invests at least 80% of its net assets plus borrowings for investment purposes in U.S. Government and non-U.S. Government investment grade (rated at the time of investment BBB- or better by S&P and Fitch or Baa3 or better by Moody's or of comparable quality if unrated at the time of investment) debt securities. Government securities in which the fund may invest are bills, notes, and bonds issued by the U.S. Treasury which are direct obligations of the U.S. Government; securities of the Government National Mortgage Association (“GNMA” or “Ginnie Mae”) or the Export-Import Bank of the United States (“Ex-Im Bank”), which are obligations of U.S. Government agencies and instrumentalities secured by the full faith and credit of the U.S. Treasury; obligations secured by the right to borrow from the U.S. Treasury; and securities of the Federal Home Loan Bank (“FHLB”), the Federal National Mortgage Association (“FNMA” or “Fannie Mae”), and the Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”) which are obligations backed only by the credit of the government agency itself. In addition, the fund’s investments may include mortgage-backed securities of any maturity or type guaranteed by, or secured by collateral that is guaranteed by, the U.S. Government, its agencies, instrumentalities or its sponsored corporations; and privately-issued mortgage-backed and asset-backed securities of any maturity or type (rated at the time of investment BBB- or better by S&P and Fitch or Baa3 or better by Moody’s or of comparable quality as determined by the Adviser if unrated at the time of investment). These securities meet the Wright Quality Ratings standards (“Wright Quality Ratings”), which reflect fundamental criteria for investment acceptance, financial strength, profitability & stability and growth. Should a security in which the fund invests decline in its credit quality, the security may be sold. The fund may invest in commercial paper, certificates of deposit, bankers acceptances rated A-1 by S&P and Fitch or P-1 by Moody's. Investment selections differ depending on the trend in interest rates. The fund looks for securities that in Wright's judgment will produce the best total return.

Wright allocates assets among different market sectors (U.S. Treasury securities, U.S. Government agency securities, corporate bonds, and mortgage-backed and asset-backed securities) with different maturities based on its view of the relative value of each sector or maturity. There are no limits on the minimum or maximum weighted average maturity of the fund's portfolio or an individual security. As of December 31, 2012, the fund's average maturity was 6.2 years and its duration was 4.3 years. Duration measures how quickly the principal and interest of a bond is expected to be paid. It is also used to predict how much a bond's value will rise and fall in response to small changes in interest rates. Generally, the shorter a fund's duration, the less its securities will decline in value when there is an increase in interest rates. The fund seeks to outperform the Barclays U.S. Aggregate Index.

In order to respond to adverse market, economic, political or other conditions, the fund may assume a temporary defensive position that is inconsistent with its principal investment strategies.

Principal Risks

· General Investing 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. The fund is not a complete investment program and you may lose money by investing in the fund. All investments carry risk and there is no guarantee that the fund will be able to achieve its investment objective.

· Management Risk: The fund is actively managed and its performance, therefore, will reflect the Adviser's ability to make investment decisions which are suited to achieving the fund's investment objective. Due to its active management, the fund could underperform other mutual funds with similar investment objectives.

· Government Securities Risk: The fund invests in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as Ginnie Mae, Fannie Mae, or Freddie Mac securities). Unlike Ginnie Mae securities, securities issued or guaranteed by U.S. government-related organizations such as Fannie Mae and Freddie Mac are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government would provide financial support. Therefore, U.S. government-related organizations such as Fannie Mae or Freddie Mac may not have the funds to meet their payment obligations in the future.

· Mortgage-Related and Other Asset-Backed Securities Risk: The fund may invest in a variety of mortgage-related and other asset-backed securities which are subject to interest rate risk, credit risk, extension risk and prepayment risk.

· Interest Rate Risk: Bond prices fall when interest rates rise and vice versa. The longer the duration of a bond, the greater sensitivity the bond has to changes in interest rates and greater the potential change in price. Also, the fund’s yield may decline during times of falling interest rates. Inflationary and deflationary pressures may impact interest rates.

· Credit or Default Risk: An issuer’s credit rating may be downgraded or the issuer may be unable to pay principal and interest obligations.

· Prepayment Risk: When interest rates decline, the issuer of a higher yielding security may prepay the principal. This forces the fund to reinvest in lower yielding securities. This risk is especially applicable to mortgage-backed securities, the principal on which may be prepaid at any time. Corporate bonds may have a “call” feature which gives the issuer the right to redeem outstanding bonds before their scheduled maturity.

· Extension Risk: If interest rates rise, repayments of principal on certain fixed-income securities may occur at a slower-than-expected rate and, as a result, the expected maturity of such securities could lengthen which could cause their value to decline and increase such securities’ sensitivity to changes in interest rates.

· Foreign Securities Risk: Foreign securities are subject to additional risks including currency risk (changes in foreign currency rates reducing the value of the fund’s assets), seizure, expropriation or nationalization of a company’s assets, less publicly available information, and the impact of political, social or diplomatic events.

Performance

The following chart and table illustrate the variability of the fund's returns as of December 31, 2012. 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 fund's average annual returns for one, five and ten years compare to the Barclays U.S. Aggregate Index. Updated performance is available on a quarterly basis at www.wrightinvestors.com or by calling 1-800-555-0644 (toll free). As with all mutual funds, past performance (before and after taxes) does not guarantee future results.

Year-by-Year Total Return as of December 31
WTRB

During the period shown, the highest return for a quarter was 4.58% (2nd quarter 2009) and the lowest return was -2.48% (2nd quarter 2004).

Average Annual Total Returns as of December 31, 2012

Average Annual Total Returns	Label	1 Year	5 Years	10 Years
Wright Total Return Bond Fund	Return before taxes	4.16%	5.81%	4.62%
Wright Total Return Bond Fund After Taxes on Distributions	Return after taxes on distributions	2.91%	4.26%	3.06%
Wright Total Return Bond Fund After Taxes on Distributions and Sales	Return after taxes on distributions and sales of fund shares	2.70%	4.05%	3.02%
Wright Total Return Bond Fund Barclays U.S. Aggregate Index	(reflects no deductions for fees, expenses or taxes)	4.21%	5.95%	5.18%

The fund’s annual return shown on the bar chart does not reflect the impact of taxes. The table below shows before and after-tax performance. After-tax returns are calculated using the highest individual federal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

[1] Under a written agreement in effect through April 30, 2014, the fund's investment adviser, Wright Investors' Service, Inc. ("Wright" or "Adviser") and the fund's distributor, Wright Investors' Service Distributors, Inc. ("Distributor") waive a portion of their advisory fee and/or distribution fees and assume operating expenses of the fund to the extent necessary to limit the net operating expense ratio to 1.00% (excluding interest, taxes, brokerage commissions, other expenditures which are capitalized in accordance with generally accepted accounting principles, and other extraordinary expenses not incurred in the ordinary course of the fund's business). Net Annual Fund Operating Expenses may exceed the 1.00% limitation if exclusions from the fee waiver apply. This written agreement may be changed or eliminated before April 30, 2014 only with the consent of the fund's board of trustees (the "Board of Trustees" or "Trustees").

[1] Under a written agreement in effect through April 30, 2014, the fund's investment adviser, Wright Investors' Service, Inc. ("Wright" or "Adviser") and the fund's distributor, Wright Investors' Service Distributors, Inc. ("Distributor") waive a portion of their advisory fee and/or distribution fees and assume operating expenses of the fund to the extent necessary to limit the net operating expense ratio to 0.95% (excluding interest, taxes, brokerage commissions, other expenditures which are capitalized in accordance with generally accepted accounting principles, and other extraordinary expenses not incurred in the ordinary course of the fund's business). Net Annual Fund Operating Expenses may exceed the 0.95% limitation if exclusions from the fee waiver apply. This written agreement may be changed or eliminated before April 30, 2014 only with the consent of the fund's board of trustees (the "Board of Trustees" or "Trustees").

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Wright Current Income Fund

Investment Objective

The Wright Current Income Fund (“WCIF” or “fund”) seeks a high level of current income consistent with moderate fluctuations of principal. “High level” is determined by the investment adviser and measured relative to other fixed income instruments that may seek relative stability of principal.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses		Wright Current Income Fund
Management Fees		0.45%
Distribution and Service (12b-1) Fees		0.25%
Other Expenses		0.46%
Total Annual Fund Operating Expenses		1.16%
Fee Waiver	[1]	(0.16%)
Net Annual Fund Operating Expenses After Fee Waiver	[1]	1.00%

Example

This Example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same except in year one. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example (USD $)	1 Year	3 Years	5 Years	10 Years
Wright Current Income Fund	102	353	623	1,395

Portfolio Turnover

The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 27% of the average value of its portfolio.

Principal Investment Strategies

The fund invests at least 80% of its net assets plus borrowings for investment purposes in debt obligations issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities, mortgage-related securities of governmental or corporate issuers and corporate debt securities. The U.S. Government securities in which the fund may invest are bills, notes, and bonds issued by the U.S. Treasury which are direct obligations of the U.S. Government; securities of the Government National Mortgage Association (“GNMA” or “Ginnie Mae”) or the Export-Import Bank of the United States (“Ex-Im Bank”), which are obligations of U.S. Government agencies and instrumentalities secured by the full faith and credit of the U.S. Treasury; obligations secured by the right to borrow from the U.S. Treasury; and securities of the Federal Home Loan Bank (“FHLB”), the Federal National Mortgage Association (“FNMA” or “Fannie Mae”), and the Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”) which are obligations backed only by the credit of the government agency itself. In addition, the fund’s investments may include mortgage-backed securities of any maturity or type guaranteed by, or secured by collateral that is guaranteed by, the U.S. Government, its agencies, instrumentalities or its sponsored corporations; and privately-issued mortgage-backed and asset-backed securities of any maturity or type (rated at the time of investment BBB- or better by S&P and Fitch or Baa3 or better by Moody’s or of comparable quality as determined by the Adviser if unrated at the time of investment).

The fund may invest in commercial paper, certificates of deposit, bankers acceptances rated A-1 by Standard & Poor’s Ratings Group (“S&P”) and Fitch, Inc. (“Fitch”) or P-1 by Moody’s Investor Services, Inc. (“Moody’s”). The fund may also invest in corporate obligations with maturities longer than one year rated BBB- or better by S&P and Fitch or Baa3 or better by Moody’s or of comparable quality as determined by the Adviser if unrated at the time of investment. Should a security in which the fund invests decline in credit quality, the security may be sold. The fund reinvests all principal payments. There are no limits on the minimum or maximum weighted average maturity of the fund’s portfolio or an individual security. As of December 31, 2012, the fund’s average maturity was 4.3 years and its duration was 2.5 years. Duration measures how quickly the principal and interest of a bond is expected to be paid. It is also used to predict how much a bond’s value will rise and fall in response to small changes in interest rates. Generally, the shorter a fund’s duration, the less its securities will decline in value when there is an increase in interest rates. The fund seeks to outperform the Barclays GNMA Index. Securities held in the fund may have variable rates or may have fixed rates for a specified period before becoming variable at a predetermined positive or negative increment versus a widely available index or benchmark such as the 3-month London Interbank Offer Rate (“LIBOR”) or 3-month U.S. Treasury Bills.

In order to respond to adverse market, economic, political or other conditions, the fund may assume a temporary defensive position that is inconsistent with its principal investment strategies.

Principal Risks

· General Investing 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. The fund is not a complete investment program and you may lose money by investing in the fund. All investments carry risk and there is no guarantee that the fund will be able to achieve its investment objective.

· Management Risk: The fund is actively managed and its performance, therefore, will reflect the Adviser's ability to make investment decisions which are suited to achieving the fund's investment objective. Due to its active management, the fund could underperform other mutual funds with similar investment objectives.

· Government Securities Risk: The fund invests in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as Ginnie Mae, Fannie Mae, or Freddie Mac securities). Unlike Ginnie Mae securities, securities issued or guaranteed by U.S. government-related organizations such as Fannie Mae and Freddie Mac are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government would provide financial support. Therefore, U.S. government-related organizations such as Fannie Mae or Freddie Mac may not have the funds to meet their payment obligations in the future.

· Mortgage-Related and Other Asset-Backed Securities Risk: The fund may invest in a variety of mortgage-related and other asset-backed securities which are subject to interest rate risk, credit risk, extension risk and prepayment risk.

· Interest Rate Risk: Bond prices fall when interest rates rise and vice versa. The longer the duration of a bond, the greater sensitivity the bond has to changes in interest rates and greater the potential change in price. Also, the fund’s yield may decline during times of falling interest rates. Inflationary and deflationary pressures may impact interest rates.

· Credit or Default Risk: An issuer’s credit rating may be downgraded or the issuer may be unable to pay principal and interest obligations.

· Prepayment Risk: When interest rates decline, the issuer of a higher yielding security may prepay the principal. This forces the fund to reinvest in lower yielding securities. This risk is especially applicable to mortgage-backed securities, the principal on which may be prepaid at any time. Corporate bonds may have a “call” feature which gives the issuer the right to redeem outstanding bonds before their scheduled maturity.

· Extension Risk: If interest rates rise, repayments of principal on certain fixed-income securities may occur at a slower-than-expected rate and, as a result, the expected maturity of such securities could lengthen which could cause their value to decline and increase such securities’ sensitivity to changes in interest rates.

Performance

The following chart and table illustrate the variability of the fund's returns as of December 31, 2012. 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 fund's average annual returns for one, five and ten years compare to the Barclays GNMA Index. Updated performance is available on a quarterly basis at www.wrightinvestors.com or by calling 1-800-555-0644 (toll free). As with all mutual funds, past performance (before and after taxes) does not guarantee future results.

Year-by-Year Total Return as of December 31
WCIF

During the period shown, the highest return for a quarter was 3.24% (3rd quarter 2006) and the lowest return was -0.79% (2nd quarter 2004).

Average Annual Total Returns as of December 31, 2012

Average Annual Total Returns	Label	1 Year	5 Years	10 Years
Wright Current Income Fund	Return before taxes	3.06%	5.45%	4.36%
Wright Current Income Fund After Taxes on Distributions	Return after taxes on distributions	1.66%	3.82%	2.64%
Wright Current Income Fund After Taxes on Distributions and Sales	Return after taxes on distributions and sales of fund shares	1.98%	3.70%	2.73%
Wright Current Income Fund Barclays GNMA Index	(reflects no deductions for fees, expenses or taxes)	2.42%	6.03%	5.21%

The fund’s annual return shown on the bar chart does not reflect the impact of taxes. The table below shows before and after-tax performance. After-tax returns are calculated using the highest individual federal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

[1] Under a written agreement in effect through April 30, 2014, the fund's investment adviser, Wright Investors' Service, Inc. ("Wright" or "Adviser") and the fund's distributor, Wright Investors' Service Distributors, Inc. ("Distributor") waive a portion of their advisory fee and/or distribution fees and assume operating expenses of the fund to the extent necessary to limit the net operating expense ratio to 1.00% (excluding interest, taxes, brokerage commissions, other expenditures which are capitalized in accordance with generally accepted accounting principles, and other extraordinary expenses not incurred in the ordinary course of the fund's business). Net Annual Fund Operating Expenses may exceed the 1.00% limitation if exclusions from the fee waiver apply. This written agreement may be changed or eliminated before April 30, 2014 only with the consent of the fund's board of trustees (the "Board of Trustees" or "Trustees").