485BPOS

Filed with the Securities and Exchange Commission on November 9, 2012

1933 Act Registration File No. 333-17391

1940 Act File No. 811-07959

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933	x
Pre-Effective Amendment No. ____	¨
Post-Effective Amendment No. 462	x
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940	x
Amendment No. 464	x

(Check appropriate box or boxes.)

ADVISORS SERIES TRUST

(Exact Name of Registrant as Specified in Charter)

615 East Michigan Street

Milwaukee, Wisconsin  53202

(Address of Principal Executive Offices) (Zip Code)

(Registrant’s Telephone Numbers, Including Area Code) (414) 765-6609

Douglas G. Hess, President

Advisors Series Trust

c/o U.S. Bancorp Fund Services, LLC

777 East Wisconsin Avenue, 5th Floor

Milwaukee, Wisconsin 53202

(Name and Address of Agent for Service)

Copies to:

Domenick Pugliese, Esq.

Paul Hastings LLP

75 East 55th Street

New York, New York 10022

It is proposed that this filing will become effective

ý	immediately upon filing pursuant to paragraph (b)
o	on __________ pursuant to paragraph (b)
o	60 days after filing pursuant to paragraph (a)(1)
o	on __________ pursuant to paragraph (a)(1)
o	75 days after filing pursuant to paragraph (a)(2)
o	on __________ pursuant to paragraph (a)(2) of Rule 485.

If appropriate, check the following box

[  ] this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

Explanatory Note: This Post-Effective Amendment (“PEA”) No. 462 to the Advisors Series Trust’s (the “Trust”) Registration Statement on Form N-1A hereby incorporates Parts A, B and C from the Trust’s PEA No. 460 on Form N-1A filed October 30, 2012.  This PEA No. 462 is filed for the sole purpose of submitting the XBRL exhibit for the risk return summary first provided in PEA No. 460 to the Trust’s Registration Statement for its series: the Shenkman Short Duration High Income Fund.

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended (the “Securities Act”) and the Investment Company Act of 1940, as amended, the Registrant certifies that this Post-Effective Amendment No. 462 meets all of the requirements for effectiveness under Rule 485(b) and the Registrant has duly caused this Post-Effective Amendment No. 462 to its Registration Statement on Form N-1A to be signed on its behalf by the undersigned, duly authorized, in the City of Milwaukee and State of Wisconsin, on the 9th day of November, 2012.

Advisors Series Trust

By: /s/ Douglas G. Hess                                              

     Douglas G. Hess

     President

Pursuant to the requirements of the Securities Act, this Post-Effective Amendment No. 462 to its Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

Signature	Title	Date
Sallie P. Diederich*	Trustee	November 9, 2012
Sallie P. Diederich
Donald E. O’Connor*	Trustee	November 9, 2012
Donald E. O’Connor
George J. Rebhan*	Trustee	November 9, 2012
George J. Rebhan
George T. Wofford*	Trustee	November 9, 2012
George T. Wofford
Joe D. Redwine*	Trustee, Chairman and	November 9, 2012
Joe D. Redwine	Chief Executive Officer
/s/ Cheryl L. King	Treasurer and	November 9, 2012
Cheryl L. King	Principal Financial Officer
/s/ Douglas G. Hess	President and	November 9, 2012
Douglas G. Hess	Principal Executive Officer
*By: /s/ Douglas G. Hess
Douglas G. Hess    Attorney-In Fact pursuant to    Power of Attorney

EXHIBIT LIST

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

XML

Shenkman Short Duration High Income Fund (Prospectus Summary) | Shenkman Short Duration High Income Fund

SUMMARY SECTION

Investment Objective

The Shenkman Short Duration High Income Fund (the "Fund") seeks to generate a
high level of current income.

Fees and Expenses of the Fund

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's
Class A shares. More information about these and other discounts is available
from your financial professional and in the "Class A Shares Sales Charge
Reductions and Waivers" section beginning on page 23 of the Fund's Prospectus
and the "Breakpoints/Volume Discounts and Sales Charge Waivers" section on
page 31 of the Fund's Statement of Additional Information ("SAI").

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees Shenkman Short Duration High Income Fund	Class A	Class C	Institutional Class
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)	3.00%	none	none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption price, whichever is less)	none	1.00%	none
Redemption Fee (as a percentage of amount redeemed on shares held for 90 days or less)	1.00%	1.00%	1.00%

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

Annual Fund Operating Expenses Shenkman Short Duration High Income Fund		Class A	Class C	Institutional Class
Management Fees		0.55%	0.55%	0.55%
Distribution and Service (Rule 12b-1) Fees		0.25%	1.00%	none
Shareholder Servicing Plan Fee		0.10%	0.10%	none
Other Expenses (includes Shareholder Servicing Plan Fee)	[1]	0.66%	0.66%	0.56%
Total Annual Fund Operating Expenses		1.46%	2.21%	1.11%
Less: Fee Waiver and Expense Reimbursement	[2]	(0.46%)	(0.46%)	(0.46%)
Net Annual Fund Operating Expenses		1.00%	1.75%	0.65%

Example

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

if you redeem your shares at the end of the period

Expense Example Shenkman Short Duration High Income Fund (USD $)	Expense Example, with Redemption, 1 Year	Expense Example, with Redemption, 3 Years
Class A	399	704
Class C	281	647
Institutional Class	66	307

if you do not redeem your shares at the end of the period

Expense Example, No Redemption Shenkman Short Duration High Income Fund (USD $)	Expense Example, No Redemption, 1 Year	Expense Example, No Redemption, 3 Years
Class A	399	704
Class C	178	647
Institutional Class	66	307

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate
may indicate higher transaction costs and may result in higher taxes when Fund
shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the Example, affect the Fund's performance.

Principal Investment Strategies of the Fund

Under normal market conditions, the Fund will invest at least 80% of its net
assets (plus any borrowings for investment purposes) in fixed income securities
and loans issued by companies that are rated below investment grade (i.e.,
"junk" bonds and loans). The Fund considers below investment grade securities
to include securities with ratings lower than BBB- by Standard & Poor's® Ratings
Group ("S&P") or Baa3 by Moody's Investors Service©, Inc. ("Moody's"), or that
are not rated or considered by the Advisor to be equivalent to high yield
securities. The Fund generally invests in high yield securities rated CCC or
better by S&P or Moody's, but retains the discretion to invest in even lower
rated securities.

The fixed income securities and loans in which the Fund expects to invest
include traditional corporate bonds, U.S. Government obligations and bank loans
to corporate borrowers, and may have fixed, floating or variable rates. The Fund
typically focuses on securities that have short durations (i.e., have an expected
redemption through maturity, call or other corporate action within three years or
less from the time of purchase). The Fund may invest up to 20% of its total assets
in foreign fixed-income securities, including those denominated in U.S. dollars
or other currencies, and may also invest without limit in Rule 144A fixed-income
securities. Additionally, the Fund may invest up to 15% of its total assets in
interest rate swaps for hedging purposes, up to 15% of its total assets in
convertible bonds, and up to 10% of its total assets in preferred stocks. The
Fund may also utilize leverage of no more than 33% of the Fund's total assets as
part of the portfolio management process. In order to purchase securities, the
Fund may create leverage by borrowing money against a line of credit. The Fund
may also create leverage by borrowing money against a margin account where the
Fund's portfolio holdings and cash serve as collateral for the loan.

Duration is a measure of a debt security's price sensitivity to yield. Higher
duration indicates debt securities that are more sensitive to interest rate
changes. Bonds with shorter duration are typically less sensitive to interest
rate changes. Duration takes into account a debt security's cash flows over
time, including the possibility that a debt security might be prepaid by the
issuer or redeemed by the holder prior to its stated maturity date. In contrast,
maturity measures only the time until final payment is due.

In selecting the Fund's investments, the Advisor will employ a multi-faceted,
"bottom up" investment approach that utilizes three proprietary analytical
tools. These three tools include: (1) Quadrant Analysis (which categorizes a
company into one of four proprietary categories or quadrants), (2) C.Scope®
(which assigns each company a credit score) and (3) Relative Value Monitor
(which considers a bond's yield relative to its risk as compared to other
similar investments). These tools are integral to the Advisor in assessing
the potential risk and relative value of each investment and also assist the
Advisor in identifying companies that are likely to have the ability to meet
their interest and principal payments on their debt securities.
  
Investment candidates are analyzed in depth at a variety of risk levels.
Investments are not made on the basis of one single factor. Rather, investments
are made based on the careful consideration of a variety of factors, including:

·  Analyses of business risks (including leverage and technology risk) and macro
   risks (including interest rate trends, capital market conditions and default  
   rates)                                                                        

·  Assessment of the industry's attractiveness and competitiveness

·  Evaluation of the business, including core strengths and competitive          
   weaknesses                                                                    

·  Qualitative evaluation of the management team, including in-person meetings or
   conference calls with key managers                                            

·  Quantitative analyses of the company's financial statements

The Advisor adheres to a rules-based sell discipline to identify early credit
deterioration. The triggering of certain events, including a decline in the
market value of the issue, results in an immediate review of the credit and may
lead to an outright sale.

Principal Investment Risks

Losing all or a portion of your investment is a risk of investing in the Fund.
The success of the Fund cannot be guaranteed. There are risks associated with
investments in the types of securities in which the Fund invests. These risks
include:

•  Bank Loan Risk. The Fund's investments in secured and unsecured assignments of
   bank loans may create substantial risk. In making investments in such loans,   
   which are made by banks or other financial intermediaries to borrowers, the    
   Fund will depend primarily upon the creditworthiness of the borrower for       
   payment of principal and interest.

•  Convertible Bond Risk. Convertible bonds are hybrid securities that have       
   characteristics of both bonds and common stocks and are therefore subject to   
   both debt security risks and equity risk. Convertible bonds are subject to     
   equity risk especially when their conversion value is greater than the interest
   and principal value of the bond. The prices of equity securities may rise or   
   fall because of economic or political changes and may decline over short or    
   extended periods of time.

•  Counterparty Risk. Counterparty risk arises upon entering into borrowing       
   arrangements or derivative transactions and is the risk from the potential     
   inability of counterparties to meet the terms of their contracts.

•  Credit Risk. The issuers of the bonds and other debt securities held by the    
   Fund may not be able to make interest or principal payments.

•  Derivatives Risk. The Fund may invest in derivative securities for bona fide   
   hedging purposes. A derivative security is a financial contract whose value
   is based on (or "derived from") a traditional security (such as a bond) or a      
   market index. Derivatives involve the risk of improper valuation, the risk of  
   ambiguous documentation and the risk that changes in the value of the          
   derivative may not correlate perfectly with the underlying security.  

•  Foreign Securities Risk. Investments in foreign securities involve certain     
   risks not associated with investments in U.S. companies. Foreign securities
   in the Fund's portfolio subject the Fund to the risks associated with investing
   in the particular country, including the political, regulatory, economic,
   social and other conditions or events occurring in the country, as well as            
   fluctuations in its currency and the risks associated with less developed      
   custody and settlement practices.

•  High Yield Risk. High yield debt obligations are speculative investments that  
   are usually issued by highly leveraged (indebted) companies, which means there
   is an increased risk that these companies might not generate sufficient cash   
   flow to pay their debts. Consequently, high yield securities and loans entail  
   greater risk of loss of principal than securities and loans that are investment
   grade rated.

•  Impairment of Collateral Risk. The value of any collateral securing a bond or  
   loan can decline, and may be insufficient to meet the borrower's obligations or
   difficult to liquidate. In addition, the Fund's access to collateral may be    
   limited by bankruptcy or other insolvency laws.

•  Interest Rate Risk. In general, the value of bonds and other fixed income      
   instruments falls when interest rates rise. Longer term obligations are usually
   more sensitive to interest rate changes than shorter term obligations.

•  Investment Risk. The Fund invests primarily in high yield debt obligations     
   issued by companies that may have significant risks as a result of business,   
   financial, market or legal uncertainties. There can be no assurance that the   
   Advisor will correctly evaluate the nature and magnitude of the various factors
   that could affect the value of, and return on, the Fund's investments.

•  Leverage Risk. Leverage is the practice of borrowing money to purchase         
   securities. Leverage can increase the investment returns of the Fund if the    
   securities purchased increase in value in an amount exceeding the cost of the  
   borrowing. However, if the securities decrease in value, the Fund will suffer a
   greater loss than would have resulted without the use of leverage.

•  Liquidity Risk. Low or lack of trading volume may make it difficult to sell    
   securities held by the Fund at quoted market prices.

•  Management Risk. The Fund is subject to management risk because it is an       
   actively managed portfolio. The Advisor's management practices and investment  
   strategies might not work to produce the desired results.

•  Market Risk. The prices of some or all of the securities in which the Fund     
   invests may decline for a number of reasons, including in response to economic
   developments and perceptions about the creditworthiness of individual issuers.
   There is more risk that prices will go down for investors investing over short
   time horizons. Market risk may affect a single issuer, sector of the economy,
   industry, or the market as a whole.

•  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.

•  Preferred Stock Risk. Preferred stocks may be more volatile than fixed income  
   securities and are more correlated with the issuer's underlying common stock   
   than fixed income securities. Additionally, the dividend on a preferred stock  
   may be changed or omitted by the issuer.

•  Rule 144A Securities Risk. The market for Rule 144A securities typically is    
   less active than the market for publicly-traded securities. Rule 144A          
   securities carry the risk that the liquidity of these securities may become    
   impaired, making it more difficult for the Fund to sell these bonds.

Performance

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.shenkmanfunds.com, once the website
is operational, or by calling the Fund toll-free at 1-855-SHENKMAN
(1-855-743-6562).

[1] Other expenses are based on estimated amounts for the current fiscal year.

[2] Shenkman Capital Management, Inc. (the "Advisor") has contractually agreed to waive a portion or all of its management fees and pay Fund expenses (excluding acquired fund fees and expenses ("AFFE"), interest, taxes, interest and dividends on securities sold short and extraordinary expenses) in order to limit Net Annual Fund Operating Expenses to 1.00%, 1.75% and 0.65% of average daily net assets of the Fund's Class A shares, Class C shares and Institutional Class shares, respectively (the "Expense Caps"). The Expense Caps will remain in effect through at least January 28, 2014, and may be terminated only by the 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.

XML

Label	Element	Value
Risk Return [Abstract]	rr_RiskReturnAbstract
ProspectusDate	rr_ProspectusDate	Oct. 30, 2012
Shenkman Short Duration High Income Fund (Prospectus Summary) | Shenkman Short Duration High Income Fund
Risk Return [Abstract]	rr_RiskReturnAbstract
Risk/Return [Heading]	rr_RiskReturnHeading	SUMMARY SECTION
Objective [Heading]	rr_ObjectiveHeading	Investment Objective
Objective, Primary [Text Block]	rr_ObjectivePrimaryTextBlock	The Shenkman Short Duration High Income Fund (the "Fund") seeks to generate a high level of current income.
Expense [Heading]	rr_ExpenseHeading	Fees and Expenses of the Fund
Expense Narrative [Text Block]	rr_ExpenseNarrativeTextBlock	This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. 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's Class A shares. More information about these and other discounts is available from your financial professional and in the "Class A Shares Sales Charge Reductions and Waivers" section beginning on page 23 of the Fund's Prospectus and the "Breakpoints/Volume Discounts and Sales Charge Waivers" section on page 31 of the Fund's Statement of Additional Information ("SAI").
Shareholder Fees Caption [Text]	rr_ShareholderFeesCaption	Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text]	rr_OperatingExpensesCaption	Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading]	rr_PortfolioTurnoverHeading	Portfolio Turnover
Portfolio Turnover [Text Block]	rr_PortfolioTurnoverTextBlock	The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.
Expense Breakpoint Discounts [Text]	rr_ExpenseBreakpointDiscounts	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's Class A shares.
Expense Breakpoint, Minimum Investment Required [Amount]	rr_ExpenseBreakpointMinimumInvestmentRequiredAmount	100,000
Other Expenses, New Fund, Based on Estimates [Text]	rr_OtherExpensesNewFundBasedOnEstimates	Other expenses are based on estimated amounts for the current fiscal year.
Expense Example [Heading]	rr_ExpenseExampleHeading	Example
Expense Example Narrative [Text Block]	rr_ExpenseExampleNarrativeTextBlock	This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Caps only in the first year). Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Expense Example by, Year, Caption [Text]	rr_ExpenseExampleByYearCaption	if you redeem your shares at the end of the period
Expense Example, No Redemption, By Year, Caption [Text]	rr_ExpenseExampleNoRedemptionByYearCaption	if you do not redeem your shares at the end of the period
Strategy [Heading]	rr_StrategyHeading	Principal Investment Strategies of the Fund
Strategy Narrative [Text Block]	rr_StrategyNarrativeTextBlock	Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in fixed income securities and loans issued by companies that are rated below investment grade (i.e., "junk" bonds and loans). The Fund considers below investment grade securities to include securities with ratings lower than BBB- by Standard & Poor's® Ratings Group ("S&P") or Baa3 by Moody's Investors Service©, Inc. ("Moody's"), or that are not rated or considered by the Advisor to be equivalent to high yield securities. The Fund generally invests in high yield securities rated CCC or better by S&P or Moody's, but retains the discretion to invest in even lower rated securities. The fixed income securities and loans in which the Fund expects to invest include traditional corporate bonds, U.S. Government obligations and bank loans to corporate borrowers, and may have fixed, floating or variable rates. The Fund typically focuses on securities that have short durations (i.e., have an expected redemption through maturity, call or other corporate action within three years or less from the time of purchase). The Fund may invest up to 20% of its total assets in foreign fixed-income securities, including those denominated in U.S. dollars or other currencies, and may also invest without limit in Rule 144A fixed-income securities. Additionally, the Fund may invest up to 15% of its total assets in interest rate swaps for hedging purposes, up to 15% of its total assets in convertible bonds, and up to 10% of its total assets in preferred stocks. The Fund may also utilize leverage of no more than 33% of the Fund's total assets as part of the portfolio management process. In order to purchase securities, the Fund may create leverage by borrowing money against a line of credit. The Fund may also create leverage by borrowing money against a margin account where the Fund's portfolio holdings and cash serve as collateral for the loan. Duration is a measure of a debt security's price sensitivity to yield. Higher duration indicates debt securities that are more sensitive to interest rate changes. Bonds with shorter duration are typically less sensitive to interest rate changes. Duration takes into account a debt security's cash flows over time, including the possibility that a debt security might be prepaid by the issuer or redeemed by the holder prior to its stated maturity date. In contrast, maturity measures only the time until final payment is due. In selecting the Fund's investments, the Advisor will employ a multi-faceted, "bottom up" investment approach that utilizes three proprietary analytical tools. These three tools include: (1) Quadrant Analysis (which categorizes a company into one of four proprietary categories or quadrants), (2) C.Scope® (which assigns each company a credit score) and (3) Relative Value Monitor (which considers a bond's yield relative to its risk as compared to other similar investments). These tools are integral to the Advisor in assessing the potential risk and relative value of each investment and also assist the Advisor in identifying companies that are likely to have the ability to meet their interest and principal payments on their debt securities.    Investment candidates are analyzed in depth at a variety of risk levels. Investments are not made on the basis of one single factor. Rather, investments are made based on the careful consideration of a variety of factors, including: ·  Analyses of business risks (including leverage and technology risk) and macro    risks (including interest rate trends, capital market conditions and default      rates)                                                                         ·  Assessment of the industry's attractiveness and competitiveness ·  Evaluation of the business, including core strengths and competitive              weaknesses                                                                     ·  Qualitative evaluation of the management team, including in-person meetings or    conference calls with key managers                                             ·  Quantitative analyses of the company's financial statements The Advisor adheres to a rules-based sell discipline to identify early credit deterioration. The triggering of certain events, including a decline in the market value of the issue, results in an immediate review of the credit and may lead to an outright sale.
Risk [Heading]	rr_RiskHeading	Principal Investment Risks
Risk Narrative [Text Block]	rr_RiskNarrativeTextBlock	Losing all or a portion of your investment is a risk of investing in the Fund. The success of the Fund cannot be guaranteed. There are risks associated with investments in the types of securities in which the Fund invests. These risks include: •  Bank Loan Risk. The Fund's investments in secured and unsecured assignments of    bank loans may create substantial risk. In making investments in such loans,       which are made by banks or other financial intermediaries to borrowers, the        Fund will depend primarily upon the creditworthiness of the borrower for           payment of principal and interest. •  Convertible Bond Risk. Convertible bonds are hybrid securities that have           characteristics of both bonds and common stocks and are therefore subject to       both debt security risks and equity risk. Convertible bonds are subject to         equity risk especially when their conversion value is greater than the interest    and principal value of the bond. The prices of equity securities may rise or       fall because of economic or political changes and may decline over short or        extended periods of time. •  Counterparty Risk. Counterparty risk arises upon entering into borrowing           arrangements or derivative transactions and is the risk from the potential         inability of counterparties to meet the terms of their contracts. •  Credit Risk. The issuers of the bonds and other debt securities held by the        Fund may not be able to make interest or principal payments. •  Derivatives Risk. The Fund may invest in derivative securities for bona fide       hedging purposes. A derivative security is a financial contract whose value    is based on (or "derived from") a traditional security (such as a bond) or a          market index. Derivatives involve the risk of improper valuation, the risk of      ambiguous documentation and the risk that changes in the value of the              derivative may not correlate perfectly with the underlying security.   •  Foreign Securities Risk. Investments in foreign securities involve certain         risks not associated with investments in U.S. companies. Foreign securities    in the Fund's portfolio subject the Fund to the risks associated with investing    in the particular country, including the political, regulatory, economic,    social and other conditions or events occurring in the country, as well as                fluctuations in its currency and the risks associated with less developed          custody and settlement practices. •  High Yield Risk. High yield debt obligations are speculative investments that      are usually issued by highly leveraged (indebted) companies, which means there    is an increased risk that these companies might not generate sufficient cash       flow to pay their debts. Consequently, high yield securities and loans entail      greater risk of loss of principal than securities and loans that are investment    grade rated. •  Impairment of Collateral Risk. The value of any collateral securing a bond or      loan can decline, and may be insufficient to meet the borrower's obligations or    difficult to liquidate. In addition, the Fund's access to collateral may be        limited by bankruptcy or other insolvency laws. •  Interest Rate Risk. In general, the value of bonds and other fixed income          instruments falls when interest rates rise. Longer term obligations are usually    more sensitive to interest rate changes than shorter term obligations. •  Investment Risk. The Fund invests primarily in high yield debt obligations         issued by companies that may have significant risks as a result of business,       financial, market or legal uncertainties. There can be no assurance that the       Advisor will correctly evaluate the nature and magnitude of the various factors    that could affect the value of, and return on, the Fund's investments. •  Leverage Risk. Leverage is the practice of borrowing money to purchase             securities. Leverage can increase the investment returns of the Fund if the        securities purchased increase in value in an amount exceeding the cost of the      borrowing. However, if the securities decrease in value, the Fund will suffer a    greater loss than would have resulted without the use of leverage. •  Liquidity Risk. Low or lack of trading volume may make it difficult to sell        securities held by the Fund at quoted market prices. •  Management Risk. The Fund is subject to management risk because it is an           actively managed portfolio. The Advisor's management practices and investment      strategies might not work to produce the desired results. •  Market Risk. The prices of some or all of the securities in which the Fund         invests may decline for a number of reasons, including in response to economic    developments and perceptions about the creditworthiness of individual issuers.    There is more risk that prices will go down for investors investing over short    time horizons. Market risk may affect a single issuer, sector of the economy,    industry, or the market as a whole. •  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. •  Preferred Stock Risk. Preferred stocks may be more volatile than fixed income      securities and are more correlated with the issuer's underlying common stock       than fixed income securities. Additionally, the dividend on a preferred stock      may be changed or omitted by the issuer. •  Rule 144A Securities Risk. The market for Rule 144A securities typically is        less active than the market for publicly-traded securities. Rule 144A              securities carry the risk that the liquidity of these securities may become        impaired, making it more difficult for the Fund to sell these bonds.
Risk Lose Money [Text]	rr_RiskLoseMoney	Losing all or a portion of your investment is a risk of investing in the Fund.
Bar Chart and Performance Table [Heading]	rr_BarChartAndPerformanceTableHeading	Performance
Performance Narrative [Text Block]	rr_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.shenkmanfunds.com, once the website is operational, or by calling the Fund toll-free at 1-855-SHENKMAN (1-855-743-6562).
Performance One Year or Less [Text]	rr_PerformanceOneYearOrLess	When the Fund has been in operation for a full calendar year, performance information will be shown here.
Performance Availability Phone [Text]	rr_PerformanceAvailabilityPhone	(1-855-743-6562)
Performance Availability Website Address [Text]	rr_PerformanceAvailabilityWebSiteAddress	www.shenkmanfunds.com
Shenkman Short Duration High Income Fund (Prospectus Summary) | Shenkman Short Duration High Income Fund | Class A
Risk Return [Abstract]	rr_RiskReturnAbstract
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)	rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice	3.00%
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption price, whichever is less)	rr_MaximumDeferredSalesChargeOverOfferingPrice	none
Redemption Fee (as a percentage of amount redeemed on shares held for 90 days or less)	rr_RedemptionFeeOverRedemption	(1.00%)
Management Fees	rr_ManagementFeesOverAssets	0.55%
Distribution and Service (Rule 12b-1) Fees	rr_DistributionAndService12b1FeesOverAssets	0.25%
Shareholder Servicing Plan Fee	rr_Component1OtherExpensesOverAssets	0.10%
Other Expenses (includes Shareholder Servicing Plan Fee)	rr_OtherExpensesOverAssets	0.66%	[1]
Total Annual Fund Operating Expenses	rr_ExpensesOverAssets	1.46%
Less: Fee Waiver and Expense Reimbursement	rr_FeeWaiverOrReimbursementOverAssets	(0.46%)	[2]
Net Annual Fund Operating Expenses	rr_NetExpensesOverAssets	1.00%
Fee Waiver or Reimbursement over Assets, Date of Termination	rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination	2014-01-28
Expense Example, with Redemption, 1 Year	rr_ExpenseExampleYear01	399
Expense Example, with Redemption, 3 Years	rr_ExpenseExampleYear03	704
Expense Example, No Redemption, 1 Year	rr_ExpenseExampleNoRedemptionYear01	399
Expense Example, No Redemption, 3 Years	rr_ExpenseExampleNoRedemptionYear03	704
Shenkman Short Duration High Income Fund (Prospectus Summary) | Shenkman Short Duration High Income Fund | Class C
Risk Return [Abstract]	rr_RiskReturnAbstract
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)	rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice	none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption price, whichever is less)	rr_MaximumDeferredSalesChargeOverOfferingPrice	1.00%
Redemption Fee (as a percentage of amount redeemed on shares held for 90 days or less)	rr_RedemptionFeeOverRedemption	(1.00%)
Management Fees	rr_ManagementFeesOverAssets	0.55%
Distribution and Service (Rule 12b-1) Fees	rr_DistributionAndService12b1FeesOverAssets	1.00%
Shareholder Servicing Plan Fee	rr_Component1OtherExpensesOverAssets	0.10%
Other Expenses (includes Shareholder Servicing Plan Fee)	rr_OtherExpensesOverAssets	0.66%	[1]
Total Annual Fund Operating Expenses	rr_ExpensesOverAssets	2.21%
Less: Fee Waiver and Expense Reimbursement	rr_FeeWaiverOrReimbursementOverAssets	(0.46%)	[2]
Net Annual Fund Operating Expenses	rr_NetExpensesOverAssets	1.75%
Fee Waiver or Reimbursement over Assets, Date of Termination	rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination	2014-01-28
Expense Example, with Redemption, 1 Year	rr_ExpenseExampleYear01	281
Expense Example, with Redemption, 3 Years	rr_ExpenseExampleYear03	647
Expense Example, No Redemption, 1 Year	rr_ExpenseExampleNoRedemptionYear01	178
Expense Example, No Redemption, 3 Years	rr_ExpenseExampleNoRedemptionYear03	647
Shenkman Short Duration High Income Fund (Prospectus Summary) | Shenkman Short Duration High Income Fund | Institutional Class
Risk Return [Abstract]	rr_RiskReturnAbstract
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)	rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice	none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption price, whichever is less)	rr_MaximumDeferredSalesChargeOverOfferingPrice	none
Redemption Fee (as a percentage of amount redeemed on shares held for 90 days or less)	rr_RedemptionFeeOverRedemption	(1.00%)
Management Fees	rr_ManagementFeesOverAssets	0.55%
Distribution and Service (Rule 12b-1) Fees	rr_DistributionAndService12b1FeesOverAssets	none
Shareholder Servicing Plan Fee	rr_Component1OtherExpensesOverAssets	none
Other Expenses (includes Shareholder Servicing Plan Fee)	rr_OtherExpensesOverAssets	0.56%	[1]
Total Annual Fund Operating Expenses	rr_ExpensesOverAssets	1.11%
Less: Fee Waiver and Expense Reimbursement	rr_FeeWaiverOrReimbursementOverAssets	(0.46%)	[2]
Net Annual Fund Operating Expenses	rr_NetExpensesOverAssets	0.65%
Fee Waiver or Reimbursement over Assets, Date of Termination	rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination	2014-01-28
Expense Example, with Redemption, 1 Year	rr_ExpenseExampleYear01	66
Expense Example, with Redemption, 3 Years	rr_ExpenseExampleYear03	307
Expense Example, No Redemption, 1 Year	rr_ExpenseExampleNoRedemptionYear01	66
Expense Example, No Redemption, 3 Years	rr_ExpenseExampleNoRedemptionYear03	307

[1] Other expenses are based on estimated amounts for the current fiscal year.

[2] Shenkman Capital Management, Inc. (the "Advisor") has contractually agreed to waive a portion or all of its management fees and pay Fund expenses (excluding acquired fund fees and expenses ("AFFE"), interest, taxes, interest and dividends on securities sold short and extraordinary expenses) in order to limit Net Annual Fund Operating Expenses to 1.00%, 1.75% and 0.65% of average daily net assets of the Fund's Class A shares, Class C shares and Institutional Class shares, respectively (the "Expense Caps"). The Expense Caps will remain in effect through at least January 28, 2014, and may be terminated only by the 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.

XML

Label	Element	Value
Risk Return [Abstract]	rr_RiskReturnAbstract
Document Type	dei_DocumentType	485BPOS
Document Period End Date	dei_DocumentPeriodEndDate	Oct. 30, 2012
Registrant Name	dei_EntityRegistrantName	ADVISORS SERIES TRUST
Central Index Key	dei_EntityCentralIndexKey	0001027596
Amendment Flag	dei_AmendmentFlag	false
Document Creation Date	dei_DocumentCreationDate	Oct. 30, 2012
Document Effective Date	dei_DocumentEffectiveDate	Oct. 30, 2012
Shenkman Short Duration High Income Fund (Prospectus Summary) | Shenkman Short Duration High Income Fund | Class A
Risk Return [Abstract]	rr_RiskReturnAbstract
Trading Symbol	dei_TradingSymbol	SCFAX
Shenkman Short Duration High Income Fund (Prospectus Summary) | Shenkman Short Duration High Income Fund | Class C
Risk Return [Abstract]	rr_RiskReturnAbstract
Trading Symbol	dei_TradingSymbol	NA
Shenkman Short Duration High Income Fund (Prospectus Summary) | Shenkman Short Duration High Income Fund | Institutional Class
Risk Return [Abstract]	rr_RiskReturnAbstract
Trading Symbol	dei_TradingSymbol	SCFIX