XML 10 R26.htm IDEA: XBRL DOCUMENT v2.3.0.15
LabelElementValue
Risk/Return:rr_RiskReturnAbstract 
ProspectusDaterr_ProspectusDateOct. 28, 2011
Davidson Intermediate Fixed Income Fund (Prospectus Summary) | Davidson Intermediate Fixed Income Fund
 
Risk/Return:rr_RiskReturnAbstract 
Risk/Return, Headingrr_RiskReturnHeadingSUMMARY SECTION
Investment Objective, Headingrr_ObjectiveHeadingInvestment Objective
investment Objective, Primaryrr_ObjectivePrimaryTextBlock
The Davidson Intermediate Fixed Income Fund (the "Fund") seeks income and the
preservation of principal.
Expense, Headingrr_ExpenseHeadingFees and Expenses
Expense, Narrativerr_ExpenseNarrativeTextBlock
This table describes the fees and expenses that you may pay if you buy and hold
shares of the Fund. You may qualify for sales charge discounts if you and your
family invest, or agree to invest in the future, at least $100,000 in the
Fund. More information about these and other discounts is available from your
financial professional and in the "Class A Shares" section on page 11 of the
Fund's statutory Prospectus and the "Breakpoints/Volume Discounts and Sales
Charge Waivers" section on page 47 of the Fund's Statement of Additional
Information ("SAI").
Shareholder Fees, Captionrr_ShareholderFeesCaptionShareholder Fees (fees paid directly from your investment)
Operating Expenses, Captionrr_OperatingExpensesCaptionAnnual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover, Headingrr_PortfolioTurnoverHeadingPortfolio Turnover.
Portfolio Turnoverrr_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
the Annual Fund Operating Expenses or in the Example, affect the Fund's
performance.
Expense Breakpoint, Discountsrr_ExpenseBreakpointDiscountsYou may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000 in the Fund.
Expense Breakpoint, Minimum Investment Required Amountrr_ExpenseBreakpointMinimumInvestmentRequiredAmount$ 100,000
Other Expenses, New Fund, Based on Estimatesrr_OtherExpensesNewFundBasedOnEstimatesOther expenses are based on estimated customary Fund expenses for the current fiscal year.
Expense Example, Headingrr_ExpenseExampleHeadingExample.
Expense Example, Narrativerr_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
either redeem or do not 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 (taking into account the
Expense Caps only in the first year).
Expense Example, By Year, Captionrr_ExpenseExampleByYearCaptionAlthough your actual costs may be higher or lower, based on these assumptions your costs would be:
Investment Strategy, Headingrr_StrategyHeadingPrincipal Investment Strategies of the Fund
Investment Strategy, Narrativerr_StrategyNarrativeTextBlock
The Fund normally invests at least 80% of its net assets (plus any borrowings
for investment purposes) in fixed income securities. The fixed income securities
in which the Fund will generally invest include those of governments, agencies,
inflation-protected securities, asset-backed securities, municipal bonds and
companies across a wide range of industries and market capitalizations and are
generally rated within the BBB-category or better by Standard & Poor's Rating
Group ("Standard & Poor's") or the Baa3 category or better by Moody's Investors
Services ("Moody's"). The Fund normally invests within the intermediate term
structure of the yield curve and will seek to achieve its investment objective
through duration tilts, sector allocations, credit exposures, and security
selection. The maturities of the securities in which the Fund expects to invest
will generally range from 1 to 10 years. The average-dollar weighted maturity of
the securities in which the Fund expects to invest will generally range from 3
to 10 years. Duration tilts may be interpreted as differences in the duration of
the Fund relative to duration of the benchmark. Duration is a measure of the
sensitivity of the Fund's NAV to interest rate movements. For fixed-coupon
bonds, duration can be intuitively defined as the average maturity of all bond
payments, where each payment is weighted by its value. Duration tilts will be
limited from 75% to 125% of the Barclays Capital Intermediate Government/Credit
Index. The Advisor determines that a particular security should be purchased by
evaluating macroeconomic factors including interest rate trends, monetary
policy, inflation outlook, treasury supply and demand, interest rate volatility,
the strategy duration target, and yield curve position.

The Fund may seek to enhance returns through the use of other investment
strategies such as the use of options (for hedging purposes), investment in
foreign securities, and in other investment companies including exchange-traded
funds ("ETFs"). The Fund may invest up to 20% of its net assets in put and call
options. The Fund may invest up to 25% of its net assets in foreign securities,
including in emerging markets. Through its investment in foreign securities, the
Fund may invest up to 20% of its net assets in American Depositary Receipts
("ADRs"). The Fund also may invest up to 20% of its net assets in other
investment companies and may invest in the securities of small and medium-sized
companies.

The Advisor may sell a position if the fundamentals have deteriorated, a
security becomes fully valued, or for purposes of portfolio construction and
risk management. The Advisor may also sell a position if a better alternative
becomes available.

At the discretion of the Advisor, the Fund may invest its assets in cash, cash
equivalents, and high-quality, short-term debt securities and money market
instruments for temporary defensive purposes in response to adverse market,
economic or political conditions.
Risk, Headingrr_RiskHeadingPrincipal Risks of Investing in the Fund
Risk, Narrativerr_RiskNarrativeTextBlock
Losing all or a portion of your investment is a risk of investing in the
Fund. The following principal risks could affect the value of your investment:

·  Asset-Backed Securities Risk. Asset-backed securities may decline in value
   when defaults on the underlying assets occur and may exhibit additional
   volatility in periods of changing interest rates. When interest rates decline,
   the prepayment of assets underlying such securities may require the Fund to
   reinvest that money at lower prevailing interest rates, resulting in reduced
   returns.

·  Credit Risk. The risk that the Fund could lose money if the issuer or
   guarantor of a fixed income security, or the counterparty to a derivative
   contract, is unable or unwilling to meet its financial obligations.

·  ETF and Mutual Fund Risk. ETFs are typically open-end investment companies
   that are bought and sold on a national securities exchange. Investment
   companies (mutual funds) and ETFs have management fees that are part of their
   costs, and the Fund will indirectly bear its proportionate share of these
   costs.

·  Foreign and Emerging Market Securities Risk. The Fund may invest in foreign
   securities which are subject to special risks. Foreign securities can be more
   volatile than domestic (U.S.) securities. Securities markets of other
   countries are generally smaller than U.S. securities markets. Many foreign
   securities may be less liquid and more volatile than U.S. securities, which
   could affect the Fund's investments. The risks are enhanced in emerging
   markets.

·  Foreign Governments Investment Risk. The issuer of the foreign debt or the
   governmental authorities that control the repayment of such debt may be unable
   or unwilling to repay principal or interest when due, and the Fund may have
   limited recourse in the event of a default. The market prices of debt
   obligations of foreign governments and their agencies, and the Fund's net
   asset value ("NAV"), may be more volatile than prices of U.S. debt
   obligations.

·  Government-Sponsored Entities Risk. Securities issued by government-sponsored
   entities may not be backed by the full faith and credit of the United States.

·  Inflation Protected Securities Risk. Inflation protected securities include
   the risk that the rate of inflation will be lower than expected or that the
   relevant index intended to measure the rate of inflation will be accurately
   measure the rate of inflation and the securities will not work as intended.

·  Interest Rate Risk. The risk that fixed income securities will decline in
   value because of an increase in interest rates; a fund with a longer average
   portfolio duration will be more sensitive to changes in interest rates than a
   fund with a shorter average portfolio duration.

·  Issuer Risk. The value of securities held by the Fund may experience sudden,
   unpredictable drops in value or long periods of decline in value due to
   reasons directly related to the issuer, including management performance,
   financial leverage, and reduced demand for the issuer's goods and services.

·  Management Risk. Management risk means that your investment in the Fund varies
   with the success and failure of the Advisor's investment strategies and the
   Advisor's research, analysis and determination of portfolio securities.

·  New Fund Risk. The Fund is new with no operating history and there can be no
   assurance that the Fund will grow to or maintain an economically viable size,
   in which case the Board may determine to liquidate the Fund.

·  Options Risk. Options on securities may be subject to greater fluctuations in
   value than an investment in the underlying securities. Purchasing and writing
   put and call options are highly specialized activities and entail greater than
   ordinary investment risks.

·  Small and Medium Companies Risk. Investing in securities of small and medium
   capitalization companies may involve greater volatility than investing in
   larger and more established companies because small and medium capitalization
   companies can be subject to more abrupt or erratic share price changes than
   larger, more established companies.

This Fund may be appropriate for investors who:

·  Have a long-term investment horizon; and

·  Want to add an investment with potential for income and to diversify their
   investment portfolio.
Risk, Lose Moneyrr_RiskLoseMoneyLosing all or a portion of your investment is a risk of investing in the Fund.
Bar Chart and Performance Table, Headingrr_BarChartAndPerformanceTableHeadingPerformance
Performance, Narrativerr_PerformanceNarrativeTextBlock
When the Fund has been in operation for a full calendar year, performance
information will be shown here. Updated performance information will be
available on the Fund's website at www.davidsonmutualfunds.com or by calling the
Fund toll-free at 1-877-332-0529.
Performance, One Year or Lessrr_PerformanceOneYearOrLessWhen the Fund has been in operation for a full calendar year, performance information will be shown here.
Performance, Availability Phone Numberrr_PerformanceAvailabilityPhone1-877-332-0529
Performance, Availability Website Addressrr_PerformanceAvailabilityWebSiteAddresswww.davidsonmutualfunds.com
Davidson Intermediate Fixed Income Fund (Prospectus Summary) | Davidson Intermediate Fixed Income Fund | Class A
 
Risk/Return:rr_RiskReturnAbstract 
Fee Waiver or Reimbursement over Assets, Date of Terminationrr_FeeWaiverOrReimbursementOverAssetsDateOfTermination2012-10-28
Davidson Intermediate Fixed Income Fund (Prospectus Summary) | Davidson Intermediate Fixed Income Fund | Class I
 
Risk/Return:rr_RiskReturnAbstract 
Fee Waiver or Reimbursement over Assets, Date of Terminationrr_FeeWaiverOrReimbursementOverAssetsDateOfTermination2012-10-28
Davidson Intermediate Fixed Income Fund | Class A
 
Risk/Return:rr_RiskReturnAbstract 
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice2.75%
Management Feesrr_ManagementFeesOverAssets0.35%
Distribution and Service (Rule 12b-1) Feesrr_DistributionAndService12b1FeesOverAssets0.25%
Other Expensesrr_OtherExpensesOverAssets0.84%[1]
Total Annual Fund Operating Expensesrr_ExpensesOverAssets1.44%
Less: Fee Waiver and Expense Reimbursementrr_FeeWaiverOrReimbursementOverAssets(0.50%)
Net Annual Fund Operating Expensesrr_NetExpensesOverAssets0.94%[2]
Expense Example, With Redemption, 1 Yearrr_ExpenseExampleYear01368
Expense Example, With Redemption, 3 Yearsrr_ExpenseExampleYear03670
Davidson Intermediate Fixed Income Fund | Class I
 
Risk/Return:rr_RiskReturnAbstract 
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Management Feesrr_ManagementFeesOverAssets0.35%
Distribution and Service (Rule 12b-1) Feesrr_DistributionAndService12b1FeesOverAssets none
Other Expensesrr_OtherExpensesOverAssets0.84%[1]
Total Annual Fund Operating Expensesrr_ExpensesOverAssets1.19%
Less: Fee Waiver and Expense Reimbursementrr_FeeWaiverOrReimbursementOverAssets(0.50%)
Net Annual Fund Operating Expensesrr_NetExpensesOverAssets0.69%[2]
Expense Example, With Redemption, 1 Yearrr_ExpenseExampleYear0170
Expense Example, With Redemption, 3 Yearsrr_ExpenseExampleYear03$ 328
[1]Other expenses are based on estimated customary Fund expenses for the current fiscal year.
[2]Davidson Investment Advisors, Inc. (the "Advisor") has contractually agreed to waive all or a portion of its management fees and pay expenses of the Fund to ensure that Net Annual Fund Operating Expenses (excluding acquired fund fees and expenses ("AFFE"), interest, taxes and extraordinary expenses) do not exceed 0.94% of average daily net assets of the Fund's Class A shares and 0.69% of average daily net assets of the Fund's Class I shares (the "Expense Caps"). The Expense Caps will remain in effect through at least October 28, 2012, and may be terminated only by Advisors Series Trust's Board of Trustees (the "Board"). The Advisor may request recoupment of previously waived fees and paid expenses from the Fund for three years from the date they were waived or paid, subject to the Expense Caps.