U.S. BANCORP FUND SERVICES, LLC

615 E. Michigan Street

Milwaukee, Wisconsin 53202

May 4, 2007

VIA EDGAR TRANSMISSION

U.S. Securities and Exchange Commission

100 F Street, N.E.

Washington, DC 20549

Re: Advisors Series Trust (the “Trust”)

File Nos.: 333-17391 and 811-07959

Dear Sir or Madam:

Pursuant to Rule 497(j) under the Securities Act of 1933, as amended, and pursuant to the Investment Company Act of 1940, as amended, and the regulations thereunder, the Trust on behalf of its series, the Al Frank Fund and Al Frank Dividend Value Fund, (collectively, the “Funds”), hereby certifies that the forms of Prospectus and Statement of Additional Information that would have been filed under Rule 497(b) or (c) would not have differed from that contained in the most recent amendment dated April 30, 2007 and filed electronically as Post-Effective Amendment No. 242 to the Trust’s Registration Statement on Form N-1A.

If you have any questions or require further information, do not hesitate to contact the undersigned at (414) 765-6609.

Sincerely,

/s/ Jeanine M. Bajczyk

Jeanine M. Bajczyk, Esq.

for U.S. Bancorp Fund Services, LLC