0000894189-13-006327.txt : 20131119 0000894189-13-006327.hdr.sgml : 20131119 20131119103520 ACCESSION NUMBER: 0000894189-13-006327 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20131119 DATE AS OF CHANGE: 20131119 EFFECTIVENESS DATE: 20131119 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRONTEGRA FUNDS INC CENTRAL INDEX KEY: 0001014913 IRS NUMBER: 364104131 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-07305 FILM NUMBER: 131228879 BUSINESS ADDRESS: STREET 1: U.S. BANCORP FUND SERVICES, LLC STREET 2: 615 EAST MICHIGAN STREET, THIRD FLOOR CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 1-888-825-2100 MAIL ADDRESS: STREET 1: 400 SKOKIE BLVD STREET 2: SUITE 500 CITY: NORTHBROOK STATE: IL ZIP: 60062 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRONTEGRA FUNDS INC CENTRAL INDEX KEY: 0001014913 IRS NUMBER: 364104131 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-07685 FILM NUMBER: 131228880 BUSINESS ADDRESS: STREET 1: U.S. BANCORP FUND SERVICES, LLC STREET 2: 615 EAST MICHIGAN STREET, THIRD FLOOR CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 1-888-825-2100 MAIL ADDRESS: STREET 1: 400 SKOKIE BLVD STREET 2: SUITE 500 CITY: NORTHBROOK STATE: IL ZIP: 60062 0001014913 S000000730 Frontegra Netols Small Cap Value Fund C000002120 Institutional Class FNSVX C000054396 Class Y FNSYX 0001014913 S000022841 Frontegra Timpani Small Cap Growth Fund C000066233 Class Y FTSYX C000066234 Institutional Class FTSGX 0001014913 S000030151 Frontegra Phocas Small Cap Value Fund C000092611 Institutional Class FPSVX 0001014913 S000032914 Frontegra RobecoSAM Global Equity Fund C000101587 Institutional Class FSGLX 0001014913 S000035416 Frontegra MFG Global Equity Fund C000108789 Institutional Class FMGEX 0001014913 S000035417 Frontegra MFG Core Infrastructure Fund C000108790 Institutional Class FMGIX 485BPOS 1 frontegra_485b-xbrl.htm POST EFFECTIVE AMENDMENT (EXHIBIT FILING) XBRL FOR 485B Unassociated Document

 
As filed with the Securities and Exchange Commission on November 19, 2013
 
Securities Act Registration No. 333-07305
Investment Company Act Registration No. 811-07685

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
FORM N-1A
       
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
[Ö]
     
 
Pre-Effective Amendment No. _____
[  ]
     
 
Post-Effective Amendment No. 84
[Ö]
       
and/or
     
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
[Ö]
       
Amendment No. 85

FRONTEGRA FUNDS, INC.
(Exact Name of Registrant as Specified in Charter)

400 Skokie Boulevard, Suite 500
 
Northbrook, Illinois
60062
(Address of Principal Executive Offices)
(Zip Code)

Registrant’s Telephone Number, including Area Code:  (847) 509-9860
 
William D. Forsyth III
400 Skokie Blvd., Suite 500
Northbrook, Illinois  60062
 (Name and Address of Agent for Service)

Copies to:
 
Ellen R. Drought
Godfrey & Kahn, S.C.
780 North Water Street
Milwaukee, Wisconsin  53202

 
It is proposed that this filing will become effective (check appropriate box):
       
   
[X]
immediately upon filing pursuant to paragraph (b) of Rule 485
   
[   ]
on (date) pursuant to paragraph (b) of Rule 485
   
[   ]
60 days after filing pursuant to paragraph (a)(1) of Rule 485
   
[   ]
on (date) pursuant to paragraph (a)(1) of Rule 485
   
[   ]
75 days after filing pursuant to paragraph (a)(2) of Rule 485
   
[   ]
on (date) pursuant to paragraph (a)(2) of Rule 485
 


If appropriate, check the following box:

[X]
 
Explanatory Note: This PEA No. 84 hereby incorporates Parts A, B and C from the Fund’s PEA No. 83 on Form N-1A filed October 28, 2013.  This PEA No. 84 is filed for the sole purpose of submitting the XBRL exhibit for the risk/return summary first provided in PEA No. 83.


 
 
 

 
 

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this Post-Effective Amendment No. 84 to its Registration Statement on Form N-1A to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Northbrook and State of Illinois on the 19th day of November, 2013.


FRONTEGRA FUNDS, INC. (Registrant)

By:      /s/ William D. Forsyth III                                                        
William D. Forsyth III
President


Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment No. 84 to this Registration Statement has been signed below on November 19, 2013 by the following persons in the capacities indicated.

Name
 
Title
/s/ William D. Forsyth III                                                      
William D. Forsyth III
President and a Director
(principal executive officer)
 
/s/ Elyce D. Dilworth                                                      
Elyce D. Dilworth
Chief Compliance Officer and Treasurer
(principal financial officer)
 
/s/ David L. Heald                                                      
David L. Heald
 
Director*
/s/ Steven K. Norgaard                                                      
Steven K. Norgaard
 
Director*
/s/ James M. Snyder                                                     
James M. Snyder
 
Director*
*By:    /s/ William D. Forsyth III
William D. Forsyth III
President
Attorney-in-fact pursuant to
Power of Attorney filed on
October 28, 2013, Post-Effective
Amendment No. 83.
 
 
 
 
 

 

 
EXHIBIT INDEX


Exhibit
Exhibit No.
 
Instance Document
EX-101.INS
Schema Document
EX-101.SCH
Calculation Linkbase Document
EX-101.CAL
Definition Linkbase Document
EX-101.DEF
Label Linkbase Document
EX-101.LAB
Presentation Linkbase Document
EX-101.PRE
 
 

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Pursuant to an expense cap agreement between Frontegra Asset Management, Inc. ("Frontegra"), the Fund's investment adviser, and the Fund, Frontegra has contractually agreed to waive its management fee and/or reimburse the Fund's operating expenses to the extent necessary to ensure that the Fund's total operating expenses (excluding taxes, interest, brokerage commissions, acquired fund fees and expenses ("AFFE") and extraordinary expenses) do not exceed 1.20% of the Fund's average daily net assets. Frontegra is entitled to recoup the fees waived and/or expenses reimbursed within a three-year period from the time the expenses were incurred to the extent of the expense limitation. The expense cap agreement will continue in effect until October 31, 2014, with successive renewal terms of one year unless terminated by Frontegra or the Company prior to any such renewal. "Other Expenses" are presented before any waivers or expense reimbursements. The Fund commenced operations on March 23, 2011. "Other Expenses" of the Class Y shares include a shareholder servicing fee of 0.15%. Pursuant to an expense cap agreement between Timpani Capital Management LLC, the Fund's investment adviser ("Timpani"), and the Fund, Timpani has contractually agreed to waive its management fee and/or reimburse the Fund's operating expenses to the extent necessary to ensure that the Fund's total operating expenses (excluding taxes, interest, brokerage commissions, acquired fund fees and expenses ("AFFE") and extraordinary expenses) do not exceed 1.10% and 1.50% of the Fund's average daily net assets for the Institutional Class and Class Y shares, respectively. Timpani is entitled to recoup the fees waived and/or expenses reimbursed within a three-year period from the time the expenses were incurred to the extent of the expense limitation. The expense cap agreement will continue in effect until October 31, 2014, with successive renewal terms of one year unless terminated by Timpani or the Company prior to any such renewal. "Other Expenses" are presented before any waivers or expense reimbursements. The Institutional Class and Class Y commenced operations on December 16, 2005, and November 1, 2007, respectively. "Other Expenses" of the Class Y shares include a shareholder servicing fee of 0.15%. Acquired Fund Fees and Expenses ("AFFE") are fees and expenses incurred by the Fund in connection with its investments in other investment companies. Total Annual Fund Operating Expenses shown will not correlate to the Fund's ratio of expenses to average net assets appearing in the Financial Highlights table, which does not include AFFE. Pursuant to an expense cap agreement between Frontegra Asset Management, Inc. ("Frontegra"), the Fund's investment adviser, and the Fund, Frontegra has contractually agreed to waive its management fee and/or reimburse the Fund's operating expenses to the extent necessary to ensure that the Fund's total operating expenses (excluding taxes, interest, brokerage commissions, AFFE and extraordinary expenses) do not exceed 1.10% and 1.50% of the Fund's average daily net assets for the Institutional Class and Class Y shares, respectively. Frontegra is entitled to recoup the fees waived and/or expenses reimbursed within a three-year period from the time the expenses were incurred to the extent of the expense limitation. The expense cap agreement will continue in effect until October 31, 2014, with successive renewal terms of one year unless terminated by Frontegra or the Company prior to any such renewal. "Other Expenses" are presented before any waivers or expense reimbursements. Fund returns for the period from September 29, 2006 to October 7, 2010, reflect the performance of the Predecessor Fund. Fund returns for the period from October 8, 2010, to October 31, 2012, reflect the performance of the Class L shares of the Fund. Effective November 1, 2012, the Class L shares were redesignated as Institutional Class shares. The Fund commenced operations on September 29, 2006. Pursuant to an expense cap agreement between Frontegra Asset Management, Inc. ("Frontegra"), the Fund's investment adviser, and the Fund, Frontegra has contractually agreed to waive its management fee and/or reimburse the Fund's operating expenses to the extent necessary to ensure that the Fund's total operating expenses (excluding taxes, interest, brokerage commissions, AFFE and extraordinary expenses) do not exceed 1.10% of the Fund's average daily net assets. Frontegra is entitled to recoup the fees waived and/or expenses reimbursed within a three-year period from the time the expenses were incurred to the extent of the expense limitation. The expense cap agreement will continue in effect until October 31, 2014, with successive renewal terms of one year unless terminated by Frontegra or the Company prior to any such renewal. "Other Expenses" are presented before any waivers or expense reimbursements and have been restated to reflect estimated current expenses due to a decrease in the Fund's assets since fiscal year end. Pursuant to an expense cap agreement between Frontegra Asset Management, Inc. ("Frontegra"), the Fund's investment adviser, and the Fund, Frontegra has contractually agreed to waive its management fee and/or reimburse the Fund's operating expenses to the extent necessary to ensure that the Fund's total operating expenses (excluding taxes, interest, brokerage commissions, acquired fund fees and expenses ("AFFE") and extraordinary expenses) do not exceed 0.70% of the Fund's average daily net assets. Frontegra is entitled to recoup the fees waived and/or expenses reimbursed within a three-year period from the time the expenses were incurred to the extent of the expense limitation. The expense cap agreement will continue in effect until October 31, 2014, with successive renewal terms of one year unless terminated by Frontegra or the Company prior to any such renewal. "Other Expenses" are presented before any waivers or expense reimbursements. The Fund commenced operations on December 28, 2011. Pursuant to an expense cap agreement between Frontegra Asset Management, Inc. ("Frontegra"), the Fund's investment adviser, and the Fund, Frontegra has contractually agreed to waive its management fee and/or reimburse the Fund's operating expenses to the extent necessary to ensure that the Fund's total operating expenses (excluding taxes, interest, brokerage commissions, acquired fund fees and expenses ("AFFE") and extraordinary expenses) do not exceed 0.80% of the Fund's average daily net assets. Frontegra is entitled to recoup the fees waived and/or expenses reimbursed within a three-year period from the time the expenses were incurred to the extent of the expense limitation. The expense cap agreement will continue in effect until October 31, 2014, with successive renewal terms of one year unless terminated by Frontegra or the Company prior to any such renewal. "Other Expenses" are presented before any waivers or expense reimbursements. FRONTEGRA FUNDS INC 485BPOS false 0001014913 2013-06-30 2013-10-28 2013-10-31 2013-10-31 Frontegra RobecoSAM Global Equity Fund FSGLX Performance. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> &#160;The Fund is the successor to the SAM Sustainable Global Active Fund (the &#8220;Predecessor Fund&#8221;) pursuant to a reorganization that was completed on June 10, 2011. &#160;Prior to this date, the Fund had no investment operations. &#160;Accordingly, the performance and financial information for periods prior to June 10, 2011, is historical information for the Predecessor Fund. &#160;The Fund has investment objectives, strategies and policies virtually identical to the Predecessor Fund, which was advised by RobecoSAM USA, Inc. (&#8220;RobecoSAM&#8221;), the current subadviser to the Fund. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> The following performance information provides some indication of the risks of investing in the Fund. &#160;The bar chart shows the changes in the Fund&#8217;s performance from year to year, while the table compares the average annual total returns of the Fund to a broad measure of market performance. &#160;Please keep in mind that past performance (before and after taxes) does not necessarily represent how the Fund will perform in the future. &#160;Updated performance data is available on the Company&#8217;s website at www.frontegra.com or by calling toll-free to 1-888-825-2100. </p> Calendar Year Total Returns (1) 0.1352 -0.0843 0.1073 ~ http://usbank.com/20131028/role/ScheduleAnnualTotalReturnsBarChart20004 column dei_LegalEntityAxis compact ck0001014913_S000032914Member column rr_ProspectusShareClassAxis compact ck0001014913_C000101587Member row primary compact * ~ Best Quarter Return 0.1344 2010-09-30 Worst Quarter Return -0.2015 2011-09-30 The Fund's return from January 1, 2013, through September 30, 2013 0.1888 2013-09-30 <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px; padding-left:24px; text-indent:-24px; clear:left"> The Fund&#8217;s return from January 1, 2013, through September 30, 2013, was 18.88%. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <b>Best and Worst Quarterly Performance (during the periods shown above)</b> </p> <br/><table align="center" cellpadding="0" cellspacing="0" style="font-family: Times New Roman;margin-top: 0px; font-size: 10pt;"> <tr style="font-size: 0;"> <td width="212.8"> &#160; </td> <td width="205.6"> &#160; </td> </tr> <tr> <td style="margin-top: 0px; padding-left: 9.6px; padding-top: 0px; padding-right: 9.6px; padding-bottom: 0px; border-bottom: 1px solid #000000;" valign="top" width="212.8"> <p align="center" style="margin: 0px;"> <em>Best Quarter Return</em> </p> </td> <td style="margin-top: 0px; padding-left: 9.6px; padding-top: 0px; padding-right: 9.6px; padding-bottom: 0px; border-bottom: 1px solid #000000;" valign="top" width="205.6"> <p align="center" style="margin: 0px;"> <em>Worst Quarter Return</em> </p> </td> </tr> <tr> <td style="margin-top: 0px; padding-left: 9.6px; padding-top: 0px; padding-right: 9.6px; padding-bottom: 0px;" valign="top" width="212.8"> <p style="margin: 0px; padding-left: 9.6px; padding-right: 9.6px;"> &#160; </p> </td> <td style="margin-top: 0px; padding-left: 9.6px; padding-top: 0px; padding-right: 9.6px; padding-bottom: 0px;" valign="top" width="205.6"> <p style="margin: 0px; padding-left: 9.6px; padding-right: 9.6px;"> &#160; </p> </td> </tr> <tr> <td style="margin-top: 0px; padding-left: 9.6px; padding-top: 0px; padding-right: 9.6px; padding-bottom: 0px;" valign="top" width="212.8"> <p align="center" style="margin: 0px;"> 13.44% (3rd quarter, 2010) </p> </td> <td style="margin-top: 0px; padding-left: 9.6px; padding-top: 0px; padding-right: 9.6px; padding-bottom: 0px;" valign="top" width="205.6"> <p align="center" style="margin: 0px;"> (20.15)% (3rd quarter, 2011) </p> </td> </tr> </table> <p style="font-family: Times New Roman;margin-top: 0px; margin-bottom: 6px; text-indent: -2px; font-size: 9pt;"> (1) Returns for the 2010 calendar year and the period from January 1, 2010, through June 10, 2011, reflect the performance of the Predecessor Fund. </p> <p style="font-family: Times New Roman;margin-top:13.333px; margin-bottom:13.333px"> The after-tax returns for the Fund were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. &#160;Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown, and after-tax returns are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. </p> 0.1073 0.1099 Return Before Taxes 0.1070 0.0936 Return After Taxes on Distributions 0.0759 0.0886 Return After Taxes on Distributions and Sale of Fund Shares 0.1583 0.1223 MSCI World Index (Net) (reflects no deductions for fees, expense or taxes) ~ http://usbank.com/20131028/role/ScheduleAverageAnnualReturnsTransposed20005 column dei_LegalEntityAxis compact ck0001014913_S000032914Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ The following performance information provides some indication of the risks of investing in the Fund. The bar chart shows the changes in the Fund's performance from year to year, while the table compares the average annual total returns of the Fund to a broad measure of market performance. Please keep in mind that past performance (before and after taxes) does not necessarily represent how the Fund will perform in the future. The after-tax returns for the Fund were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. www.frontegra.com reflects no deductions for fees, expense or taxes Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. 1-888-825-2100 Average Annual Total Returns (For the periods ended December 31, 2012) Investment Objective. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px">The investment objective of the Frontegra RobecoSAM Global Equity Fund (the &#8220;Fund&#8221;) is long-term growth of capital. </p> Example. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px; clear:left">The following example is intended to help you compare the cost of investing in the shares of the Fund with the cost of investing in other mutual funds. &#160;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. &#160;The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same.</p> 122 472 846 1897 ~ http://usbank.com/20131028/role/ScheduleExpenseExampleTransposed20003 column dei_LegalEntityAxis compact ck0001014913_S000032914Member row primary compact * ~ Although your actual costs may be higher or lower, based on these assumptions your costs would be: Portfolio Turnover. <p style="margin-top: 13.333px; margin-bottom: 13.333px; font-family: Times New Roman Bold,Times New Roman;"> <font style="font-family: Times New Roman;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). &#160;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. &#160;These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. &#160;During its most recent fiscal year, the Fund had a portfolio turnover rate of 36% of the average value of its portfolio.</font> </p> 0.36 Principal Investment Risks. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Market Risks. &#160;</i>The Fund&#8217;s investments are subject to market risk, which may cause the value of the Fund&#8217;s investments to decline. &#160;If the value of the Fund&#8217;s investments goes down, the share price of the Fund will go down, and you may lose money. &#160;U.S. and international markets have experienced extreme volatility, reduced liquidity, credit downgrades, increased likelihood of default and valuation difficulties in recent years. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Equity Securities Risks.</i> &#160;Common stocks and other equity securities held by the Fund will fluctuate in value based on the earnings of the company and on general industry and market conditions, leading to fluctuations in the Fund&#8217;s share price. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Stock Selection Risks.</i> &#160;The stocks selected for the Fund may decline in value or not increase in value when the stock market in general is rising. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Foreign Securities Risks. &#160;</i>The Fund&#8217;s foreign investments involve additional risks, including less liquidity, currency-rate fluctuations, political and economic instability, differences in financial reporting standards and securities market regulation, and imposition of foreign withholding taxes. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Emerging Markets Risks.</i> &#160;The risks of foreign investments typically are greater in emerging markets due to factors such as smaller securities markets and lower trading volumes, less developed legal and accounting structures, substantial influence by an emerging market country&#8217;s government over the private sector and potential high levels of inflation, deflation or currency devaluations. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Sustainability Investment Criteria Risks.</i> &#160;The Fund&#8217;s sustainability investment criteria may limit the number of investment opportunities available to the Fund. &#160;The Fund&#8217;s returns may be less than those funds that are not subject to such investment considerations. &#160;Companies that promote sustainability goals may not perform as well as companies that do not pursue such goals. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Currency Risks.</i> &#160;The value of the Fund&#8217;s foreign holdings as measured in U.S. dollars may be affected unfavorably by changes in foreign currency exchange rates. &#160;The Fund may also incur costs in connection with conversions between various currencies. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Small- and Medium-Capitalization Company Risks.</i> &#160;Small-capitalization and medium-capitalization companies are often more volatile and less liquid than larger companies. &#160;Securities of these companies may be subject to greater and more abrupt price fluctuations and may be more susceptible to market pressures and business failures. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Management Risks. &#160;</i>The Fund is subject to management risk as an actively-managed investment portfolio and depends on the decisions of the portfolio managers to produce the desired results. </p> If the value of the Fund's investments goes down, the share price of the Fund will go down, and you may lose money. Fees and Expenses of the Fund. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:6.667px">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </p> -0.0200 15.00 0.0080 0.0000 0.0083 0.0163 -0.0043 0.0120 ~ http://usbank.com/20131028/role/ScheduleShareholderFees20001 column dei_LegalEntityAxis compact ck0001014913_S000032914Member row primary compact * ~ ~ http://usbank.com/20131028/role/ScheduleAnnualFundOperatingExpenses20002 column dei_LegalEntityAxis compact ck0001014913_S000032914Member row primary compact * ~ 2014-10-31 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Shareholder Fees (fees paid directly from your investment) Principal Investment Strategy. <p style="font-family: Times New Roman;margin-top: 0px; margin-bottom: 13.333px;">Under normal market conditions, the Fund invests at least 80% of its net assets in a diversified portfolio of equity and equity-related securities issued by U.S. and non-U.S. companies that combine their market and financial strategy with a high level of environmental awareness and a clearly defined social policy (&#8220;Sustainable Leaders&#8221;). &#160;For purposes of the 80% policy, net assets include any borrowings for investment purposes. As part of its principal investment strategy, the Fund may invest in securities of foreign companies, including emerging markets companies, and may invest in companies of any market capitalization. </p> Frontegra Timpani Small Cap Growth Fund FTSYX FTSGX Performance. <p style="font-family: Times New Roman;margin-top: 0px; margin-bottom: 13.333px;"> The return information provided in the following bar chart and table illustrates how the performance of the Fund can vary, which is one indication of the risks of investing in the Fund. &#160;The bar chart shows the Fund&#8217;s performance for the 2012 calendar year. &#160;The table shows how the Fund&#8217;s average annual returns compare with a broad measure of market performance. &#160;Please keep in mind that the Fund&#8217;s past performance (before and after taxes) does not necessarily represent how it will perform in the future. &#160;Updated performance data is available on the Company&#8217;s website at www.frontegra.com or by calling toll-free to 1-888-825-2100. </p> Calendar Year Total Returns for Institutional Class Shares 0.1791 ~ http://usbank.com/20131028/role/ScheduleAnnualTotalReturnsBarChart20011 column dei_LegalEntityAxis compact ck0001014913_S000022841Member column rr_ProspectusShareClassAxis compact ck0001014913_C000066234Member row primary compact * ~ Best Quarter Return 0.1747 2012-03-31 Worst Quarter Return -0.0365 2012-06-30 The Fund's return from January 1, 2013, through September 30, 2013 0.4175 2013-09-30 <p align="justify" style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> The Fund&#8217;s return from January 1, 2013, through September 30, 2013, was 41.75%. &#160; </p> <br/><p align="center" style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <b>Best and Worst Quarterly Performance (during the periods shown above)</b> </p> <br/><table align="center" cellpadding="0" cellspacing="0" style="font-family: Times New Roman;margin-top:0px; font-size:10pt"> <tr style="font-size:0"> <td width="212.8"> </td> <td width="205.6"> </td> </tr> <tr> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px solid #000000" valign="top" width="212.8"> <p align="center" style="margin:0px"> <i>Best Quarter Return</i> </p> </td> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px solid #000000" valign="top" width="205.6"> <p align="center" style="margin:0px"> <i>Worst Quarter Return</i> </p> </td> </tr> <tr> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign="top" width="212.8"> <p style="margin:0px; padding-left:9.6px; padding-right:9.6px"> &#160; </p> </td> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign="top" width="205.6"> <p style="margin:0px; padding-left:9.6px; padding-right:9.6px"> &#160; </p> </td> </tr> <tr> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign="top" width="212.8"> <p align="center" style="margin:0px"> 17.47% (1st quarter, 2012) </p> </td> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign="top" width="205.6"> <p align="center" style="margin:0px"> (3.65)% (2nd <sup/>quarter, 2012) </p> </td> </tr> <tr> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign="top" width="212.8"> <p style="margin:0px; padding-left:9.6px; padding-right:9.6px"> &#160; </p> </td> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign="top" width="205.6"> <p style="margin:0px; padding-left:9.6px; padding-right:9.6px"> &#160; </p> </td> </tr> </table> <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> The after-tax returns for the Fund were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. &#160;Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown, and after-tax returns are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. </p> 0.1791 0.0405 Return Before Taxes 0.1791 0.0405 Return After Taxes on Distributions 0.1164 0.0345 Return After Taxes on Distributions and Sale of Fund Shares 0.1459 0.0370 Russell 2000 Growth Index (reflects no deductions for fees, expense or taxes) 2011-03-23 2011-03-23 ~ http://usbank.com/20131028/role/ScheduleAverageAnnualReturnsTransposed20012 column dei_LegalEntityAxis compact ck0001014913_S000022841Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ The return information provided in the following bar chart and table illustrates how the performance of the Fund can vary, which is one indication of the risks of investing in the Fund. The bar chart shows the Fund's performance for the 2012 calendar year. Please keep in mind that the Fund's past performance (before and after taxes) does not necessarily represent how it will perform in the future. The after-tax returns for the Fund were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. www.frontegra.com reflects no deductions for fees, expense or taxes Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. 1-888-825-2100 Average Annual Total Returns (For the periods ended December 31, 2012) Investment Objective. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px">The investment objective of the Frontegra Timpani Small Cap Growth Fund (the &#8220;Fund&#8221;) is capital appreciation. </p> Example. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px; clear:left">The following example is intended to help you compare the cost of investing in the shares of the Fund with the cost of investing in other mutual funds. &#160;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. &#160;The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same.</p> 112 956 1816 4041 153 1073 2004 4379 ~ http://usbank.com/20131028/role/ScheduleExpenseExampleTransposed20010 column dei_LegalEntityAxis compact ck0001014913_S000022841Member row primary compact * ~ Although your actual costs may be higher or lower, based on these assumptions your costs would be: Portfolio Turnover. <p style="margin-top: 13.333px; margin-bottom: 13.333px; font-family: Times New Roman Bold,Times New Roman;"> <font style="font-family: Times New Roman;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). &#160;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. &#160;These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. &#160;During its most recent fiscal year, the Fund had a portfolio turnover rate of 140% of the average value of its portfolio.</font> </p> 1.40 Principal Investment Risks. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Market Risks. &#160;</i>The Fund&#8217;s investments are subject to market risk, which may cause the value of the Fund&#8217;s investments to decline. &#160;If the value of the Fund&#8217;s investments goes down, the share price of the Fund will go down, and you may lose money. &#160;U.S. and international markets have experienced extreme volatility, reduced liquidity, credit downgrades, increased likelihood of default and valuation difficulties in recent years. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Stock Selection Risks.</i> &#160;The stocks selected for the Fund may decline in value or not increase in value when the stock market in general is rising. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Equity Securities Risks.</i> &#160;Common stocks and other equity securities held by the Fund will fluctuate in value based on the earnings of the company and on general industry and market conditions, leading to fluctuations in the Fund&#8217;s share price. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Foreign Securities Risks.</i> &#160;Investments in securities of foreign companies involve additional risks, including less liquidity, currency-rate fluctuations, political and economic instability, differences in financial reporting standards and securities market regulation, and imposition of foreign withholding taxes. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>American Depositary Receipts Risks.</i> &#160;The risks of ADRs include many of the risks associated with investing directly in foreign securities, such as currency-rate fluctuations and political and economic instability. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Portfolio Turnover Risks. &#160;</i>The Fund may engage in frequent trading as part of its investment strategy and thus may experience a high portfolio turnover rate. &#160;When the Fund experiences a high portfolio turnover rate, you may realize significant taxable capital gains as a result of frequent trading of the Fund&#8217;s assets and the Fund will incur transaction costs in connection with buying and selling securities, which may lower the Fund&#8217;s return. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Liquidity Risks.</i> &#160;Liquidity risk is the risk that certain securities may be difficult or impossible to sell at the time and price that Timpani would like to sell. &#160;Timpani may have to lower the price, sell other securities instead or forego an investment opportunity. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Growth Investing Risks. &#160;</i>Growth companies are generally more susceptible than established companies to market events and sharp declines in value. &#160;Additionally, growth stocks typically lack the dividend yield that can cushion stock prices in market downturns. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Small Capitalization Risks. &#160;</i>Securities of companies with small market capitalizations are often more volatile, less liquid and more susceptible to market pressures than securities of larger companies. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Management Risks. &#160;</i>The Fund is subject to management risk as an actively-managed investment portfolio and depends on the decisions of the portfolio manager to produce the desired results. </p> If the value of the Fund's investments goes down, the share price of the Fund will go down, and you may lose money. Fees and Expenses of the Fund. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:6.667px">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </p> 0.0000 0.0000 15.00 15.00 0.0100 0.0100 0.0000 0.0025 0.0302 0.0317 0.0402 0.0442 -0.0292 -0.0292 0.0110 0.0150 ~ http://usbank.com/20131028/role/ScheduleShareholderFees20008 column dei_LegalEntityAxis compact ck0001014913_S000022841Member row primary compact * ~ ~ http://usbank.com/20131028/role/ScheduleAnnualFundOperatingExpenses20009 column dei_LegalEntityAxis compact ck0001014913_S000022841Member row primary compact * ~ 2014-10-31 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Shareholder Fees (fees paid directly from your investment) Principal Investment Strategy. <p style="font-family: Times New Roman;margin-top: 0px; margin-bottom: 13.333px;"> Under normal market conditions, the Fund invests at least 80% of its net assets in equity securities of small capitalization companies that the Fund&#8217;s investment adviser, Timpani Capital Management LLC (&#8220;Timpani&#8221;), believes have sound growth potential. &#160;For purposes of the 80% policy, net assets include any borrowings for investment purposes. &#160;The Fund may invest up to 25% of its total assets in American Depositary Receipts (&#8220;ADRs&#8221;) and other foreign securities. &#160;Timpani uses fundamental research, focusing on companies with superior management and whose business models have a high potential for earnings upside. &#160;Timpani may actively trade portfolio securities.&#160; </p> Frontegra Netols Small Cap Value Fund FNSVX FNSYX Performance. <p style="font-family: Times New Roman;margin-top: 0px; margin-bottom: 13.333px;"> The return information provided in the following bar chart and table illustrates how the performance of the Fund can vary, which is one indication of the risks of investing in the Fund. &#160;The bar chart shows the changes in the Fund&#8217;s performance from year to year. &#160;The table shows how the Fund&#8217;s average annual returns compare with a broad measure of market performance. &#160;Please keep in mind that the Fund&#8217;s past performance (before and after taxes) does not necessarily represent how it will perform in the future. &#160;Updated performance data is available on the Company&#8217;s website at www.frontegra.com or by calling toll-free to 1-888-825-2100. </p> Calendar Year Total Returns for Institutional Class Shares 0.1657 0.0708 -0.2565 0.1838 0.2081 -0.0460 0.1357 ~ http://usbank.com/20131028/role/ScheduleAnnualTotalReturnsBarChart20018 column dei_LegalEntityAxis compact ck0001014913_S000000730Member column rr_ProspectusShareClassAxis compact ck0001014913_C000002120Member row primary compact * ~ Best Quarter Return 0.1958 2009-06-30 Worst Quarter Return -0.2516 2011-09-30 The Fund's return from January 1, 2013, through September 30, 2013 0.2859 2013-09-30 <p align="justify" style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> The Fund&#8217;s return from January 1, 2013, through September 30, 2013, was 28.59%. &#160; </p> <br/><p align="center" style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <b>Best and Worst Quarterly Performance (during the periods shown above)</b> </p> <br/><table align="center" cellpadding="0" cellspacing="0" style="font-family: Times New Roman;margin-top:0px; font-size:10pt"> <tr style="font-size:0"> <td width="212.8"> </td> <td width="205.6"> </td> </tr> <tr> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px solid #000000" valign="top" width="212.8"> <p align="center" style="margin:0px"> <i>Best Quarter Return</i> </p> </td> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px solid #000000" valign="top" width="205.6"> <p align="center" style="margin:0px"> <i>Worst Quarter Return</i> </p> </td> </tr> <tr> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign="top" width="212.8"> <p style="margin:0px; padding-left:9.6px; padding-right:9.6px"> &#160; </p> </td> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign="top" width="205.6"> <p style="margin:0px; padding-left:9.6px; padding-right:9.6px"> &#160; </p> </td> </tr> <tr> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign="top" width="212.8"> <p align="center" style="margin:0px"> 19.58% (2nd quarter, 2009) </p> </td> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign="top" width="205.6"> <p align="center" style="margin:0px"> (25.16)% (3rd <sup/>quarter, 2011) </p> </td> </tr> <tr> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign="top" width="212.8"> <p style="margin:0px; padding-left:9.6px; padding-right:9.6px"> &#160; </p> </td> <td style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign="top" width="205.6"> <p style="margin:0px; padding-left:9.6px; padding-right:9.6px"> &#160; </p> </td> </tr> </table> <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> After-tax returns are shown only for Institutional Class shares, and the after-tax returns for the Class Y shares will vary. &#160;The after-tax returns for the Fund were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. &#160;Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown, and after-tax returns are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. </p> 0.1357 0.0287 0.0513 Institutional Class Return Before Taxes 0.1272 0.0271 0.0496 Institutional Class Return After Taxes on Distributions 0.0995 0.0246 0.0443 Institutional Class Return After Taxes on Distributions and Sale of Fund Shares 0.1805 0.0355 0.0388 Russell 2000 Value Index Institutional Class Comparison (reflects no deductions for fees, expense or taxes) 0.1318 0.0246 0.0196 Class Y Return Before Taxes 0.1805 0.0355 0.0261 Russell 2000 Value Index Class Y Comparison (reflects no deductions for fees, expense or taxes) 2005-12-16 2005-12-16 2007-11-01 2007-11-01 ~ http://usbank.com/20131028/role/ScheduleAverageAnnualReturnsTransposed20019 column dei_LegalEntityAxis compact ck0001014913_S000000730Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ Please keep in mind that the Fund's past performance (before and after taxes) does not necessarily represent how it will perform in the future. 1-888-825-2100 The return information provided in the following bar chart and table illustrates how the performance of the Fund can vary, which is one indication of the risks of investing in the Fund. The bar chart shows the changes in the Fund's performance from year to year. The after-tax returns for the Fund were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. www.frontegra.com reflects no deductions for fees, expense or taxes Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Average Annual Total Returns (For the periods ended December 31, 2012) After-tax returns are shown only for Institutional Class shares, and the after-tax returns for the Class Y shares will vary. Investment Objective. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px">The investment objective of the Frontegra Netols Small Cap Value Fund (the &#8220;Fund&#8221;) is capital appreciation. </p> Portfolio Turnover. <p style="font-family: Times New Roman;margin-top: 13.333px; margin-bottom: 13.333px;"> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; 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. &#160;These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. &#160;During its most recent fiscal year, the Fund had a portfolio turnover rate of 28% of the average value of its portfolio. &#160; </p> 0.28 Example. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px; clear:left">The following example is intended to help you compare the cost of investing in the shares of the Fund with the cost of investing in other mutual funds. &#160;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. &#160;The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same.</p> 113 370 647 1436 154 494 858 1882 ~ http://usbank.com/20131028/role/ScheduleExpenseExampleTransposed20017 column dei_LegalEntityAxis compact ck0001014913_S000000730Member row primary compact * ~ Although your actual costs may be higher or lower, based on these assumptions your costs would be: Principal Investment Risks. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Market Risks. &#160;</i>The Fund&#8217;s investments are subject to market risk, which may cause the value of the Fund&#8217;s investments to decline. &#160;If the value of the Fund&#8217;s investments goes down, the share price of the Fund will go down, and you may lose money. &#160;U.S. and international markets have experienced extreme volatility, reduced liquidity, credit downgrades, increased likelihood of default and valuation difficulties in recent years. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Equity Securities Risks.</i> &#160;Common stocks and other equity securities held by the Fund will fluctuate in value based on the earnings of the company and on general industry and market conditions, leading to fluctuations in the Fund&#8217;s share price. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Stock Selection Risks.</i> &#160;The stocks selected for the Fund may decline in value or not increase in value when the stock market in general is rising. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Value Investing Risks.</i> &#160;Netols invests in companies that it believes are undervalued. &#160;Such companies may never increase in price or pay dividends, or may decline even further if the market fails to recognize the company&#8217;s value. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Small Capitalization Company Risks.</i> &#160;Securities of companies with small market capitalizations are often more volatile, less liquid and more susceptible to market pressures than larger companies. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Management Risks. &#160;</i>The Fund is subject to management risk as an actively-managed investment portfolio and depends on the decisions of the portfolio manager to produce the desired results. </p> If the value of the Fund's investments goes down, the share price of the Fund will go down, and you may lose money. Principal Investment Strategy. <p style="font-family: Times New Roman;margin-top: 13.333px; margin-bottom: 13.333px;"> Under normal market conditions, the Fund invests at least 80% of its net assets in equity securities of companies with small market capitalizations. &#160;For purposes of the 80% policy, net assets include any borrowings for investment purposes. &#160;In constructing a portfolio for the Fund, the Fund&#8217;s subadviser, Netols Asset Management, Inc. (&#8220;Netols&#8221;), selects stocks it believes are undervalued and exhibit potential &#8220;change factor&#8221; characteristics. &#160;Netols defines a small capitalization company as any company with a market capitalization no larger than the largest company included in the Russell 2000<sup>&#174;</sup> Value Index at the time of initial investment. &#160;As of September 30, 2013, the largest market capitalization of a company in the Russell 2000<sup>&#174;</sup> Value Index was $4.3 billion and the weighted average market capitalization was $1.4 billion. </p> Fees and Expenses of the Fund. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:6.667px">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </p> 0.0000 0.0000 15.00 15.00 0.0100 0.0100 0.0000 0.0025 0.0018 0.0033 0.0001 0.0001 0.0119 0.0159 -0.0008 -0.0008 0.0111 0.0151 ~ http://usbank.com/20131028/role/ScheduleShareholderFees20015 column dei_LegalEntityAxis compact ck0001014913_S000000730Member row primary compact * ~ ~ http://usbank.com/20131028/role/ScheduleAnnualFundOperatingExpenses20016 column dei_LegalEntityAxis compact ck0001014913_S000000730Member row primary compact * ~ 2014-10-31 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Total Annual Fund Operating Expenses shown will not correlate to the Fund's ratio of expenses to average net assets appearing in the Financial Highlights table, which does not include AFFE. Shareholder Fees (fees paid directly from your investment) Frontegra Phocas Small Cap Value Fund FPSVX Performance. <p style="font-family: Times New Roman;margin-top: 0px; margin-bottom: 13.333px;"> The Fund is the successor to the Phocas Small Cap Value Fund (the &#8220;Predecessor Fund&#8221;) pursuant to a reorganization that was completed on October 8, 2010. &#160;Prior to this date, the Fund had no investment operations. &#160;Accordingly, the performance and financial information for periods prior to October 8, 2010, is historical information for the Predecessor Fund. &#160;The Fund has investment objectives, strategies and policies substantially similar to the Predecessor Fund, which was advised by Phocas, the current subadviser to the Fund. &#160;The Predecessor Fund was subject to different expenses than the Institutional Class shares offered by this prospectus. &#160;Accordingly, the performance for the Predecessor Fund may differ from that of the Fund. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> The return information provided in the following bar chart and table illustrates how the performance of the Fund can vary, which is one indication of the risks of investing in the Fund. &#160;The bar chart shows the changes in the Fund&#8217;s performance from year to year. &#160;The table shows how the Fund&#8217;s average annual returns compare with a broad measure of market performance. &#160;Please keep in mind that the Fund&#8217;s past performance (before and after taxes) does not necessarily represent how it will perform in the future. &#160;Updated performance data is available on the Company&#8217;s website at www.frontegra.com or by calling toll-free to 1-888-825-2100. </p> Calendar Year Total Returns (1) -0.0746 -0.2468 0.2429 0.2994 -0.0599 0.0975 ~ http://usbank.com/20131028/role/ScheduleAnnualTotalReturnsBarChart20025 column dei_LegalEntityAxis compact ck0001014913_S000030151Member column rr_ProspectusShareClassAxis compact ck0001014913_C000092611Member row primary compact * ~ Best Quarter Return 0.2269 2009-09-30 Worst Quarter Return -0.2011 2011-09-30 The Fund's return from January 1, 2013, through September 30, 2013 0.3086 2013-09-30 <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px; clear:left"> The Fund&#8217;s return from January 1, 2013, through September 30, 2013, was 30.86%. &#160; </p> <br/><p align="center" style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <b>Best and Worst Quarterly Performance (during the periods shown above)</b> </p> <br/><table align="center" cellpadding="0" cellspacing="0" style="font-family: Times New Roman;margin-top: 0px; font-size: 10pt;"> <tr style="font-size: 0;"> <td width="212.8"> &#160; </td> <td width="205.6"> &#160; </td> </tr> <tr> <td style="margin-top: 0px; padding-left: 9.6px; padding-top: 0px; padding-right: 9.6px; padding-bottom: 0px; border-bottom: 1px solid #000000;" valign="top" width="212.8"> <p align="center" style="margin: 0px;"> <em>Best Quarter Return</em> </p> </td> <td style="margin-top: 0px; padding-left: 9.6px; padding-top: 0px; padding-right: 9.6px; padding-bottom: 0px; border-bottom: 1px solid #000000;" valign="top" width="205.6"> <p align="center" style="margin: 0px;"> <em>Worst Quarter Return</em> </p> </td> </tr> <tr> <td style="margin-top: 0px; padding-left: 9.6px; padding-top: 0px; padding-right: 9.6px; padding-bottom: 0px;" valign="top" width="212.8"> <p style="margin: 0px; padding-left: 9.6px; padding-right: 9.6px;"> &#160; </p> </td> <td style="margin-top: 0px; padding-left: 9.6px; padding-top: 0px; padding-right: 9.6px; padding-bottom: 0px;" valign="top" width="205.6"> <p style="margin: 0px; padding-left: 9.6px; padding-right: 9.6px;"> &#160; </p> </td> </tr> <tr> <td style="margin-top: 0px; padding-left: 9.6px; padding-top: 0px; padding-right: 9.6px; padding-bottom: 0px;" valign="top" width="212.8"> <p align="center" style="margin: 0px;"> 22.69% (3rd quarter, 2009) </p> </td> <td style="margin-top: 0px; padding-left: 9.6px; padding-top: 0px; padding-right: 9.6px; padding-bottom: 0px;" valign="top" width="205.6"> <p align="center" style="margin: 0px;"> (20.11)% (3rd quarter, 2011) </p> </td> </tr> </table> <p style="font-family: Times New Roman;"> (1) Returns for calendar years 2007-2009 and for the period from January 1, 2010, to October 7, 2010, reflect the performance of the Predecessor Fund. &#160;Returns for the period from October 8, 2010, to October 31, 2012, reflect the performance of the Class L shares of the Fund. &#160;Effective November 1, 2012, the Class L shares were redesignated as Institutional Class shares. </p> 0.0975 0.0465 0.0398 Return Before Taxes 0.0962 0.0457 0.0388 Return After Taxes on Distributions 0.0651 0.0399 0.0341 Return After Taxes on Distributions and Sale of Fund Shares 0.1805 0.0355 0.0255 Russell 2000&#174; Value Index (reflects no deductions for fees, expenses or taxes) 2006-09-29 2006-09-29 ~ http://usbank.com/20131028/role/ScheduleAverageAnnualReturnsTransposed20026 column dei_LegalEntityAxis compact ck0001014913_S000030151Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ <p style="font-family: Times New Roman;margin-top:13.333px; margin-bottom:13.333px"> The after-tax returns for the Fund were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. &#160;Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown, and after-tax returns are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. </p> The return information provided in the following bar chart and table illustrates how the performance of the Fund can vary, which is one indication of the risks of investing in the Fund. The bar chart shows the changes in the Fund's performance from year to year. Please keep in mind that the Fund's past performance (before and after taxes) does not necessarily represent how it will perform in the future. The after-tax returns for the Fund were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. www.frontegra.com Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. (reflects no deductions for fees, expenses or taxes) Average Annual Total Returns (For periods ended December 31, 2012) 1-888-825-2100 Investment Objective. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px">The investment objective of the Frontegra Phocas Small Cap Value Fund (the &#8220;Fund&#8221;) is long-term total investment return through capital appreciation. &#160;This investment objective is fundamental and may not be changed without shareholder approval. </p> Portfolio Turnover. <p style="margin-top: 13.333px; margin-bottom: 13.333px; font-family: Times New Roman Bold,Times New Roman;"> <font style="font-family: Times New Roman;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). &#160;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. &#160;These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. &#160;During its most recent fiscal year, the Fund had a portfolio turnover rate of 196% of the average value of its portfolio. &#160;</font> </p> 1.96 Example. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px; clear:left">The following example is intended to help you compare the cost of investing in the shares of the Fund with the cost of investing in other mutual funds. &#160;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. &#160;The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same.</p> 124 681 1265 2850 ~ http://usbank.com/20131028/role/ScheduleExpenseExampleTransposed20024 column dei_LegalEntityAxis compact ck0001014913_S000030151Member row primary compact * ~ Although your actual costs may be higher or lower, based on these assumptions your costs would be: Principal Investment Risks. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Market Risks. &#160;</i>The Fund&#8217;s investments are subject to market risk, which may cause the value of the Fund&#8217;s investments to decline. &#160;If the value of the Fund&#8217;s investments goes down, the share price of the Fund will go down, and you may lose money. &#160;U.S. and international markets have experienced extreme volatility, reduced liquidity, credit downgrades, increased likelihood of default and valuation difficulties in recent years. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Equity Securities Risks. &#160;</i>Common stocks and other equity securities held by the Fund will fluctuate in value based on the earnings of the company and on general industry and market conditions, leading to fluctuations in the Fund&#8217;s share price. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Stock Selection Risks.</i> &#160;The stocks selected for the Fund may decline in value or not increase in value when the stock market in general is rising. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Foreign Securities Risks. &#160;</i>Investments in securities of foreign companies involve additional risks, including less liquidity, currency-rate fluctuations, political and economic instability, differences in financial reporting standards and securities market regulation, and imposition of foreign withholding taxes. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Management Risks. &#160;</i>The Fund is subject to management risk as an actively-managed investment portfolio and depends on the decisions of the portfolio managers to produce the desired results. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Small Capitalization Company Risks.</i> &#160;Securities of companies with small market capitalizations are often more volatile, less liquid and more susceptible to market pressures than larger companies. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Value Investing Risks.</i> &#160;The Fund invests primarily in value-style stocks, stocks whose prices Phocas believes are undervalued in relation to fundamental measures. &#160;Value stocks may never increase in price or pay dividends as anticipated by Phocas, or may decline even further if the market fails to recognize the company&#8217;s value, if the factors that Phocas believes will increase the price do not occur or if a stock judged to be undervalued is actually appropriately priced. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Sector Risks. &#160;</i>Although Phocas selects stocks based on their individual merits, some economic sectors will represent a larger portion of the Fund&#8217;s overall investment portfolio than other sectors. &#160;Potential negative market or economic developments affecting one of the larger sectors could have a greater impact on the Fund than on a fund with fewer holdings in that sector. </p> If the value of the Fund's investments goes down, the share price of the Fund will go down, and you may lose money. Principal Investment Strategy. <p style="font-family: Times New Roman;margin-top: 0px; margin-bottom: 13.333px;"> Under normal market conditions, the Fund invests at least 80% of its net assets in domestic common stocks and other equity securities (including convertible preferred stocks and warrants) of small-capitalization companies, consistent with companies within the Russell 2000<sup>&#174;</sup> Value Index. &#160;As of September 30, 2013, the largest market capitalization of a company in the Russell 2000<sup>&#174;</sup>Value Index was $4.3 billion and the weighted average market capitalization was $1.4 billion. &#160;For purposes of the 80% policy, net assets include any borrowings for investment purposes. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> The Fund will pursue its investment objective by investing in a diversified portfolio of small-capitalization securities selling at discounts to their fair value as assessed by the investment and research team of Phocas Financial Corporation (&#8220;Phocas&#8221;), the Fund&#8217;s subadviser. &#160;Phocas will typically invest in 80 to 120 companies with initial weightings between 0.50% to 1.50% of total Fund value in order to have broad industry representation and reduce individual security risk within the Fund. &#160; </p> Fees and Expenses of the Fund. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px">This table describes the fees and expenses that you may pay if you buy and hold Institutional Class shares of the Fund. &#160; </p> 0.0000 15.00 0.0100 0.0000 0.0150 0.0012 0.0262 -0.0140 0.0122 ~ http://usbank.com/20131028/role/ScheduleShareholderFees20022 column dei_LegalEntityAxis compact ck0001014913_S000030151Member row primary compact * ~ ~ http://usbank.com/20131028/role/ScheduleAnnualFundOperatingExpenses20023 column dei_LegalEntityAxis compact ck0001014913_S000030151Member row primary compact * ~ 2014-10-31 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Total Annual Fund Operating Expenses shown will not correlate to the Fund's ratio of expenses to average net assets appearing in the Financial Highlights table, which does not include AFFE. "Other Expenses" are presented before any waivers or expense reimbursements and have been restated to reflect estimated current expenses due to a decrease in the Fund's assets since fiscal year end. Shareholder Fees (fees paid directly from your investment) Frontegra MFG Core Infrastructure Fund FMGIX Performance. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> &#160;Performance information for the Fund is not included because the Fund does not have returns for one full calendar year. &#160;Updated performance data is available on the Company&#8217;s website at www.frontegra.com or by calling toll-free to 1-888-825-2100. </p> www.frontegra.com Performance information for the Fund is not included because the Fund does not have returns for one full calendar year. 1-888-825-2100 Investment Objective. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px">The investment objective of the Frontegra MFG Core Infrastructure Fund (the &#8220;Fund&#8221;) is long-term capital appreciation. </p> Example. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px; clear:left">The following example is intended to help you compare the cost of investing in the shares of the Fund with the cost of investing in other mutual funds. &#160;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. &#160;The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same.</p> 72 845 1640 3721 ~ http://usbank.com/20131028/role/ScheduleExpenseExampleTransposed20031 column dei_LegalEntityAxis compact ck0001014913_S000035417Member row primary compact * ~ Although your actual costs may be higher or lower, based on these assumptions your costs would be: Portfolio Turnover. <p style="font-family: Times New Roman;margin-top: 13.333px; margin-bottom: 13.333px;"> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). &#160;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. &#160;These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. &#160;During its most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 7% of the average value of its portfolio. </p> 0.07 Principal Investment Risks. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Market Risks. &#160;</i>The Fund&#8217;s investments are subject to market risk, which may cause the value of the Fund&#8217;s investments to decline. &#160;If the value of the Fund&#8217;s investments goes down, the share price of the Fund will go down, and you may lose money. &#160;U.S. and international markets have experienced extreme volatility, reduced liquidity, credit downgrades, increased likelihood of default and valuation difficulties in recent years. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Equity Securities Risks.</i> &#160;Common stocks and other equity securities held by the Fund will fluctuate in value based on the earnings of the company and on general industry and market conditions, leading to fluctuations in the Fund&#8217;s share price. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Stock Selection Risks.</i> &#160;The stocks selected for the Fund may decline in value or not increase in value when the stock market in general is rising. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Foreign Securities Risks. &#160;</i>Investments in securities of foreign companies involve additional risks, including less liquidity, currency-rate fluctuations, political and economic instability, differences in financial reporting standards and securities market regulation, and imposition of foreign withholding taxes. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Currency Risks.</i> &#160;The value of the Fund&#8217;s foreign holdings as measured in U.S. dollars may be affected unfavorably by changes in foreign currency exchange rates. &#160;The Fund may also incur costs in connection with conversions between various currencies. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Management Risks. &#160;</i>The Fund is subject to management risk as an actively-managed investment portfolio and depends on the decisions of the portfolio management team to produce the desired results. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Infrastructure Investment Risks.</i> &#160;The Fund&#8217;s investments in infrastructure companies will expose the Fund to potential adverse economic, regulatory, political and other changes affecting such investments. &#160;Issuers of securities in infrastructure-related businesses are subject to a variety of factors that may adversely affect their business or operations, including high interest costs in connection with capital construction programs, high leverage, costs associated with environmental or other regulations, the effects of economic slowdowns, adverse changes in fuel prices, the effects of energy conservation policies and other factors. &#160;Transportation infrastructure companies can be significantly affected by economic changes, fuel prices, labor relations, insurance costs and government regulations. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Utilities Industry Risks</i>. &#160;Utility company revenues and costs are subject to regulation by states and other regulators. &#160;Regulatory authorities also may restrict a company&#8217;s access to new markets. &#160;The deregulation of certain utilities companies may subject these companies to greater risks of loss. &#160;Utilities companies may incur unexpected increases in fuel and other operating costs. &#160;Rising interest rates could lead to higher financing costs and reduced earnings. &#160;Utilities are also subject to considerable costs associated with environmental compliance, nuclear waste clean-up and safety regulation. &#160;There is a risk that these costs will not be fully recovered through an increase in revenues. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Small- and Medium-Capitalization Company Risks.</i> &#160;Small-capitalization and medium-capitalization companies are often more volatile and less liquid than larger companies. &#160;Securities of these companies may be subject to greater and more abrupt price fluctuations and may be more susceptible to market pressures and business failures. &#160;Stocks of small and medium-sized companies may underperform the stocks of larger companies as an asset class. </p> If the value of the Fund's investments goes down, the share price of the Fund will go down, and you may lose money. Fees and Expenses of the Fund. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px">This table describes the fees and expenses that you may pay if you buy and hold Institutional Class shares of the Fund. </p> -0.0200 15.00 0.0070 0.0000 0.0296 0.0366 -0.0296 0.0070 ~ http://usbank.com/20131028/role/ScheduleShareholderFees20029 column dei_LegalEntityAxis compact ck0001014913_S000035417Member row primary compact * ~ ~ http://usbank.com/20131028/role/ScheduleAnnualFundOperatingExpenses20030 column dei_LegalEntityAxis compact ck0001014913_S000035417Member row primary compact * ~ 2014-10-31 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Shareholder Fees (fees paid directly from your investment) Principal Investment Strategy. <p style="font-family: Times New Roman;margin-top: 0px; margin-bottom: 13.333px;"> Under normal market conditions, the Fund invests at least 80% of its net assets in equity securities of infrastructure companies, such as utilities, toll roads, airports, ports and communications companies. &#160;For purposes of the 80% policy, net assets include any borrowings for investment purposes. &#160;The Fund will concentrate in the infrastructure sector and the utilities industry. &#160;The Fund will invest in both U.S. and non-U.S. companies. &#160;The Fund&#8217;s subadviser, Magellan Asset Management Limited doing business as MFG Asset Management (&#8220;MFG Asset Management&#8221;), seeks to provide investors with exposure to the infrastructure sector and to deliver stable investment returns relative to other equity funds. &#160;The Fund invests in a diversified portfolio of securities of infrastructure and utility companies that MFG Asset Management has determined have an appropriate capital structure, are likely to generate reliable income streams and are likely to benefit from inflation protection. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> The Fund&#8217;s investment universe will principally consist of companies whose predominant source of earnings is derived from the following infrastructure assets: </p> <br/><p style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; float:left"> &#183; </p> <br/><p style="font-family: Times New Roman;margin:0px; padding-left:48px; text-indent:-2px"> Regulated energy utilities; </p> <br/><p style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left"> &#183; </p> <br/><p style="font-family: Times New Roman;margin:0px; padding-left:48px; text-indent:-2px"> Regulated water utilities; </p> <br/><p style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left"> &#183; </p> <br/><p style="font-family: Times New Roman;margin:0px; padding-left:48px; text-indent:-2px"> Toll roads; </p> <br/><p style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left"> &#183; </p> <br/><p style="font-family: Times New Roman;margin:0px; padding-left:48px; text-indent:-2px"> Airports; </p> <br/><p style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left"> &#183; </p> <br/><p style="font-family: Times New Roman;margin:0px; padding-left:48px; text-indent:-2px"> Ports; </p> <br/><p style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left"> &#183; </p> <br/><p style="font-family: Times New Roman;margin:0px; padding-left:48px; text-indent:-2px"> Communications infrastructure; and </p> <br/><p style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left"> &#183; </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px; padding-left:48px; text-indent:-2px"> Social infrastructure. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px; clear:left"> It is anticipated that the Fund&#8217;s portfolio will generally consist of 80 to 100 companies. </p> Frontegra MFG Global Equity Fund FMGEX Performance. <p style="font-family: Times New Roman;margin-top: 0px; margin-bottom: 13.333px;"> The return information provided in the following bar chart and table illustrates how the performance of the Fund can vary, which is one indication of the risks of investing in the Fund. &#160;The bar chart shows the Fund&#8217;s performance for the 2012 calendar year. &#160;The table shows how the Fund&#8217;s average annual returns compare with a broad measure of market performance. &#160;Please keep in mind that the Fund&#8217;s past performance (before and after taxes) does not necessarily represent how it will perform in the future. &#160;Updated performance data is available on the Company&#8217;s website at www.frontegra.com or by calling toll-free to 1-888-825-2100. </p> Calendar Year Total Returns for Institutional Class Shares 0.1946 ~ http://usbank.com/20131028/role/ScheduleAnnualTotalReturnsBarChart20037 column dei_LegalEntityAxis compact ck0001014913_S000035416Member column rr_ProspectusShareClassAxis compact ck0001014913_C000108789Member row primary compact * ~ Best Quarter Return 0.0893 2012-03-31 Worst Quarter Return -0.0046 2012-06-30 The Fund's return from January 1, 2013, through September 30, 2013 0.1935 2013-09-30 <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> The Fund&#8217;s return from January 1, 2013, through September 30, 2013, was 19.35%. </p> <br/><p align="center" style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <b>Best and Worst Quarterly Performance (during the periods shown above)</b> </p> <br/><table align="center" cellpadding="0" cellspacing="0" style="font-family: Times New Roman;margin-top:0px; font-size:10pt"> <tr style="font-size:0"> <td width="212.8"> </td> <td width="205.6"> </td> </tr> <tr> <td style="margin-top:0px; border-bottom:1px solid #000000" valign="top" width="212.8"> <p align="center" style="margin:0px"> <i>Best Quarter Return</i> </p> </td> <td style="margin-top:0px; border-bottom:1px solid #000000" valign="top" width="205.6"> <p align="center" style="margin:0px"> <i>Worst Quarter Return</i> </p> </td> </tr> <tr> <td style="margin-top:0px" valign="top" width="212.8"> <p style="margin:0px; padding:0px"> &#160; </p> </td> <td style="margin-top:0px" valign="top" width="205.6"> <p style="margin:0px; padding:0px"> &#160; </p> </td> </tr> <tr> <td style="margin-top:0px" valign="top" width="212.8"> <p align="center" style="margin:0px"> 8.93% (1st quarter, 2012) </p> </td> <td style="margin-top:0px" valign="top" width="205.6"> <p align="center" style="margin:0px"> (0.46)% (2nd <sup/>quarter, 2012) </p> </td> </tr> <tr> <td style="margin-top:0px" valign="top" width="212.8"> <p style="margin:0px; padding:0px"> &#160; </p> </td> <td style="margin-top:0px" valign="top" width="205.6"> <p style="margin:0px; padding:0px"> &#160; </p> </td> </tr> </table> <p style="font-family: Times New Roman;margin:0px"> The after-tax returns for the Fund were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. &#160;Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown, and after-tax returns are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. </p> 0.1946 0.1893 Return Before Taxes 0.1893 0.1841 Return After Taxes on Distributions 0.1293 0.1591 Return After Taxes on Distributions and Sale of Fund Shares 0.1583 0.1713 MSCI World Index (Net) (reflects no deductions for fees, expense or taxes) 2011-12-28 2011-12-28 ~ http://usbank.com/20131028/role/ScheduleAverageAnnualReturnsTransposed20038 column dei_LegalEntityAxis compact ck0001014913_S000035416Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ The return information provided in the following bar chart and table illustrates how the performance of the Fund can vary, which is one indication of the risks of investing in the Fund. The bar chart shows the Fund's performance for the 2012 calendar year. Please keep in mind that the Fund's past performance (before and after taxes) does not necessarily represent how it will perform in the future. The after-tax returns for the Fund were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. www.frontegra.com reflects no deductions for fees, expense or taxes Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. 1-888-825-2100 Average Annual Total Returns (For the periods ended December 31, 2012) Investment Objective. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px">The investment objective of the Frontegra MFG Global Equity Fund (the &#8220;Fund&#8221;) is capital appreciation. </p> Example. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px; clear:left">The following example is intended to help you compare the cost of investing in the shares of the Fund with the cost of investing in other mutual funds. &#160;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. &#160;The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same.</p> 82 292 520 1174 ~ http://usbank.com/20131028/role/ScheduleExpenseExampleTransposed20036 column dei_LegalEntityAxis compact ck0001014913_S000035416Member row primary compact * ~ Although your actual costs may be higher or lower, based on these assumptions your costs would be: Portfolio Turnover. <p style="font-family: Times New Roman;margin-top: 13.333px; margin-bottom: 13.333px;"> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). &#160;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. &#160;These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. &#160;During its most recent fiscal year, the Fund had a portfolio turnover rate of 31% of the average value of its portfolio. </p> 0.31 Principal Investment Risks. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Market Risks. &#160;</i>The Fund&#8217;s investments are subject to market risk, which may cause the value of the Fund&#8217;s investments to decline. &#160;If the value of the Fund&#8217;s investments goes down, the share price of the Fund will go down, and you may lose money. &#160;U.S. and international markets have experienced extreme volatility, reduced liquidity, credit downgrades, increased likelihood of default and valuation difficulties in recent years. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Equity Securities Risks.</i> &#160;Common stocks and other equity securities held by the Fund will fluctuate in value based on the earnings of the company and on general industry and market conditions, leading to fluctuations in the Fund&#8217;s share price. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Non-Diversification Risks.</i> &#160;The Fund is non-diversified, which means it may invest more of its assets in a smaller number of companies than funds that are diversified. &#160;Gains or losses on a single stock may have greater impact on the Fund than for other funds that invest in a greater number of companies. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Stock Selection Risks.</i> &#160;The stocks selected for the Fund may decline in value or not increase in value when the stock market in general is rising. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Value Investing Risks.</i> &#160;MFG Asset Management invests in companies that it believes are undervalued. &#160;Such companies may never increase in price or pay dividends, or may decline even further if the market fails to recognize the company&#8217;s value. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Large Capitalization Risks.</i> &#160;Large-cap companies perform differently from, and at times and for extended periods of time worse than, stocks of mid- and small-cap companies. &#160;Larger, more established companies may be unable to respond quickly to new competitive challenges. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Foreign Securities Risks. &#160;</i>Investments in securities of foreign companies involve additional risks, including less liquidity, currency-rate fluctuations, political and economic instability, differences in financial reporting standards and securities market regulation, and imposition of foreign withholding taxes. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Currency Risks.</i> &#160;The value of the Fund&#8217;s foreign holdings as measured in U.S. dollars may be affected unfavorably by changes in foreign currency exchange rates. &#160;The Fund may also incur costs in connection with conversions between various currencies. </p> <br/><p style="font-family: Times New Roman;margin-top:0px; margin-bottom:13.333px"> <i>Management Risks. &#160;</i>The Fund is subject to management risk as an actively-managed investment portfolio and depends on the decisions of the portfolio manager to produce the desired results. </p> If the value of the Fund's investments goes down, the share price of the Fund will go down, and you may lose money. The Fund is non-diversified, which means it may invest more of its assets in a smaller number of companies than funds that are diversified. Gains or losses on a single stock may have greater impact on the Fund than for other funds that invest in a greater number of companies. Fees and Expenses of the Fund. <p style="font-family: Times New Roman;margin-top:0px; margin-bottom:6.667px">This table describes the fees and expenses that you may pay if you buy and hold Institutional Class shares of the Fund. </p> -0.0200 15.00 0.0080 0.0000 0.0017 0.0097 -0.0017 0.0080 ~ http://usbank.com/20131028/role/ScheduleShareholderFees20034 column dei_LegalEntityAxis compact ck0001014913_S000035416Member row primary compact * ~ ~ http://usbank.com/20131028/role/ScheduleAnnualFundOperatingExpenses20035 column dei_LegalEntityAxis compact ck0001014913_S000035416Member row primary compact * ~ 2014-10-31 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Shareholder Fees (fees paid directly from your investment) Principal Investment Strategy. <p style="font-family: Times New Roman;margin-top: 13.333px; margin-bottom: 13.333px;"> Under normal market conditions, the Fund invests at least 80% of its net assets in a non-diversified portfolio of publicly-traded equity securities issued by U.S. and non-U.S. companies. &#160;For purposes of the 80% policy, net assets include any borrowings for investment purposes. &#160;The Fund will normally be diversified among at least three different countries. &#160;The Fund&#8217;s subadviser, Magellan Asset Management Limited doing business as MFG Asset Management (&#8220;MFG Asset Management&#8221;), seeks to identify high quality companies at attractive prices while integrating an in-depth macroeconomic understanding in order to manage risk. &#160;The Fund will normally hold a concentrated number (generally 20 to 40) of companies, selected on a value basis and typically with a market capitalization in excess of U.S. $10 billion at the time of purchase. </p> EX-101.SCH 3 ck0001014913-20131028.xsd SCHEMA DOCUMENT 000001 - 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