0000894189-13-000059.txt : 20130107 0000894189-13-000059.hdr.sgml : 20130107 20130107102112 ACCESSION NUMBER: 0000894189-13-000059 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130107 DATE AS OF CHANGE: 20130107 EFFECTIVENESS DATE: 20130107 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVISORS SERIES TRUST CENTRAL INDEX KEY: 0001027596 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-17391 FILM NUMBER: 13514040 BUSINESS ADDRESS: STREET 1: U.S BANCORP FUND SERVICES, LLC STREET 2: 615 E MICHIGAN STREET CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 414-765-5340 MAIL ADDRESS: STREET 1: 615 E MICHIGAN STREET STREET 2: MK-WI-LC2 CITY: MILWAUKEE STATE: WI ZIP: 53202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVISORS SERIES TRUST CENTRAL INDEX KEY: 0001027596 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-07959 FILM NUMBER: 13514041 BUSINESS ADDRESS: STREET 1: U.S BANCORP FUND SERVICES, LLC STREET 2: 615 E MICHIGAN STREET CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 414-765-5340 MAIL ADDRESS: STREET 1: 615 E MICHIGAN STREET STREET 2: MK-WI-LC2 CITY: MILWAUKEE STATE: WI ZIP: 53202 0001027596 S000039416 Huber Capital Diversified Large Cap Value Fund C000121467 Investor Class HUDIX C000121468 Institutional Class HUDEX 485BPOS 1 ast-hcdlcvf_485bxbrl.htm POST EFFECTIVE AMENDMENT FOR XBRL ast-hcdlcvf_485bxbrl.htm

 
Filed with the Securities and Exchange Commission on January 7, 2013
 
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. 470
x
                and
 
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
x
Amendment No. 472
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. 470 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. 466 on Form N-1A filed December 19, 2012.  This PEA No. 470 is filed for the sole purpose of submitting the XBRL exhibits for the risk return summary first provided in PEA No. 466 to the Trust’s Registration Statement for its series: the Huber Capital Diversified Large Cap Value 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. 470 meets all of the requirements for effectiveness under Rule 485(b) and the Registrant has duly caused this Post-Effective Amendment No. 470 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 7th day of January, 2013.

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. 470 to its Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

Signature
Title
Date
     
Donald E. O’Connor*                                     
Trustee
January 7, 2013
Donald E. O’Connor
   
     
George J. Rebhan*                                     
Trustee
January 7, 2013
George J. Rebhan
   
     
George T. Wofford*                                     
Trustee
January 7, 2013
George T. Wofford
   
     
Joe D. Redwine*                                      
Trustee, Chairman and
January 7, 2013
Joe D. Redwine
Chief Executive Officer
 
     
/s/ Cheryl L. King
Treasurer and Principal
January 7, 2013
Cheryl L. King
Financial Officer
 
     
/s/ Douglas G. Hess
President and Principal
January 7, 2013
Douglas G. Hess
Executive Officer
 
     
*By: /s/ Douglas G. Hess
   
   Douglas G. Hess
   Attorney-In Fact pursuant to
   Power of Attorney
   
 
 
 
 
C-1

 
 
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
 

C-2

EX-101.INS 2 ck0001027596-20121219.xml INSTANCE DOCUMENT 485BPOS 2012-12-19 0001027596 2012-12-19 ADVISORS SERIES TRUST false 2012-12-19 2012-12-31 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund <br />shares are held in a taxable account. These costs, which are not reflected in <br />annual fund operating expenses or in the example, affect the Fund's performance.</tt> <div style="display:none">~ http://www.hubercap.com/role/ExpenseExample_S000039416Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Huber Capital Diversified Large Cap Value Fund (the "Fund") seeks to achieve<br />current income and capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund <br />with the cost of investing in other mutual funds. The Example assumes that you <br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your <br />investment has a 5% return each year and that the Fund's operating expenses <br />remain the same (taking into account the Expense Caps only in the first year). <br />Although your actual costs may be higher or lower, based on these assumptions <br />your costs would be:</tt> <tt>Under normal market conditions, the Fund invests at least 80% of its net <br />assets (plus borrowings for investment purposes) in common stocks of large<br />capitalization U.S. companies ("large cap companies"). The Fund looks for<br />companies whose stocks are considered by the Adviser to be undervalued. The<br />Adviser currently considers large cap companies to be those with market<br />capitalizations in the range of those found in the Russell 1000&#xAE; Value Index,<br />although the portfolio will generally consist of stocks with a market<br />capitalization of $5 billion or above at time of initial purchase. The market<br />capitalization range of the Index changes constantly, but as of its most recent<br />reconstitution date, June 22, 2012, the market capitalization range for the<br />Russell 1000&#xAE; Value Index was between $1.4 billion and $368 billion. The Fund<br />also normally invests in stocks with high cash dividends or payout yields<br />relative to the market. Payout yield refers to dividend yield (the yield from<br />dividends paid) plus buyback yield (the yield associated with a company buying<br />back its own shares to reduce the number of shares on the market, thereby<br />increasing the earnings per share for the remaining shares).<br /> <br />The Fund may also make investments in securities of non-U.S. issuers ("foreign<br />securities"), including issuers in emerging markets. The Fund will invest<br />primarily in domestic U.S. securities but reserves the right to invest up to 20%<br />of its net assets in American Depositary Receipts ("ADRs"), dollar-denominated<br />foreign securities, or directly in foreign securities including in emerging<br />markets. Should appropriate investment opportunities be available, the Fund may<br />invest in initial public offerings ("IPOs") but not in an amount that exceeds<br />50% of the Fund's total assets. Additionally, the Fund may invest in Rule 144A<br />and other restricted securities but not in an amount that exceeds 15% of the<br />Fund's total assets. From time to time, the Fund may be invested in securities<br />of companies in the same economic sector.<br /> <br />The Adviser employs a value investing style, investing in stocks which, in the<br />Adviser's opinion, trade at a significant discount to the present value of<br />future cash flows. The Adviser attempts to identify out-of-favor stocks that<br />represent solid fundamental value. The Adviser identifies these investment<br />opportunities by employing a disciplined, bottom-up investment process that<br />emphasizes internally generated fundamental research. The process includes an<br />initial review, in-depth analysis, and employment of the Adviser's proprietary<br />valuation methodology.<br /> <br />The Adviser makes sell decisions based on valuation, risk and portfolio<br />guidelines or restrictions. As individual stocks approach their intrinsic <br />value and decline in their relative attractiveness, they become candidates <br />for sale. Other sell decisions may occur because of deterioration in the<br />fundamentals that supported the initial investment. Sales are initiated as<br />position exposures approach diversification guidelines when stocks reach their<br />established target price. Proceeds from sales are reinvested in companies that<br />the Adviser believes are more attractively valued.</tt> HUBER CAPITAL DIVERSIFIED LARGE CAP VALUE FUND Example. Other Expenses are based on estimated amounts for the current fiscal year. When the Fund has been in operation for a full calendar year, performance information will be shown here. Investment Objective Losing all or a portion of your investment is a risk of investing in the Fund. Principal Risks SHAREHOLDER FEES (fees paid directly from your investment) Performance (888-482-3726) ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) Portfolio Turnover. <tt>Losing all or a portion of your investment is a risk of investing in the<br />Fund. The following additional risks could affect the value of your investment:<br /> <br />&#xB7;&#xA0;&#xA0;Market Risk. The value of the Fund's shares will fluctuate as a result of <br />&#xA0;&#xA0;&#xA0;the movement of the overall stock market or of the value of the individual&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;securities held by the Fund, and you could lose money.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br /> <br />&#xB7;&#xA0;&#xA0;Equity Risk. The risks that could affect the value of the Fund's shares and&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;the total return on your investment include the possibility that the equity&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;securities held by the Fund will experience sudden, unpredictable drops in&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;value or long periods of decline in value.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br /> <br />&#xB7;&#xA0;&#xA0;Foreign Securities and Emerging Markets Risk. The Fund may invest in foreign&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;securities and in emerging markets. These investments are subject to special&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;risks. Foreign securities can be more volatile than domestic (U.S.) securities. <br />&#xA0;&#xA0;&#xA0;Securities markets of other countries are generally smaller than U.S. securities <br />&#xA0;&#xA0;&#xA0;markets. Many foreign securities may be less liquid and more volatile than U.S. <br />&#xA0;&#xA0;&#xA0;securities, which could affect the Fund's investments. In addition, the Fund <br />&#xA0;&#xA0;&#xA0;may invest in emerging markets which are more volatile than the markets of <br />&#xA0;&#xA0;&#xA0;developed countries.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br /> <br />&#xB7;&#xA0;&#xA0;Initial Public Offering Risk. The Fund may purchase securities of companies&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;that are offered pursuant to an IPO. The risk exists that the market value of <br />&#xA0;&#xA0;&#xA0;IPO shares will fluctuate considerably due to factors such as the absence of a<br />&#xA0;&#xA0;&#xA0;prior public market, unseasoned trading, the small number of shares available <br />&#xA0;&#xA0;&#xA0;for trading and limited information about the issuer. The purchase of IPO&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;shares may involve high transaction costs. IPO shares are subject to market&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;risk and liquidity risk. When the Fund's asset base is small, a significant&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;portion of the Fund's performance could be attributable to investments in&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;IPOs, because such investments would have a magnified impact on the Fund. As&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;the Fund's assets grow, the effect of the Fund's investments in IPOs on the&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;Fund's performance probably will decline, which could reduce the Fund's&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;performance.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br /> <br />&#xB7;&#xA0;&#xA0;Management Risk. The Fund is subject to management risk because it is an&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;actively managed investment portfolio and because the Fund relies on the&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;Adviser's ability to pursue the Fund's goal. The Adviser will apply its&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;investment techniques and risk analyses in making investment decisions <br />&#xA0;&#xA0;&#xA0;for the Fund, but there can be no guarantee that its decisions will <br />&#xA0;&#xA0;&#xA0;produce the desired results.<br />&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xB7;&#xA0;&#xA0;Value Style Investing Risk. The Adviser follows an investing style that favors<br />&#xA0;&#xA0;&#xA0;value investments. The value investing style may over time go in and out of&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;favor. At times when the value investing style is out of favor, the Fund may&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;underperform other funds that use different investing styles.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br /> <br />&#xB7;&#xA0;&#xA0;Sector Emphasis Risk. Sector emphasis risk is the risk that the securities <br />&#xA0;&#xA0;&#xA0;of companies in the same or related businesses, if comprising a significant&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;portion of the Fund's portfolio, could react in some circumstances negatively <br />&#xA0;&#xA0;&#xA0;to market conditions, interest rates and economic, regulatory or fiscal&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;developments and adversely affect the value of the portfolio to a greater&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;extent than if such business comprised a lesser portion of the Fund's&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;portfolio.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br /> <br />&#xB7;&#xA0;&#xA0;New Fund Risk. The Fund is new with no operating history and there can be no&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;assurance that the Fund will grow to or maintain an economically viable size.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br /> <br />&#xB7;&#xA0;&#xA0;Rule 144A Securities Risk. The market for Rule 144A securities typically <br />&#xA0;&#xA0;&#xA0;is less active than the market for publicly-traded securities. Rule 144A&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;securities carry the risk that the liquidity of these securities may become&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;impaired, making it more difficult for the Fund to sell these securities.</tt> Fees and Expenses of the Fund Principal Investment Strategies www.hubercap.com <tt>When the Fund has been in operation for a full calendar year, performance<br />information will be shown here. Updated performance information is available <br />on the Fund's website at www.hubercap.com or by calling the Fund toll-free at<br />888-HUBERCM (888-482-3726).</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the Fund.</tt> <div style="display:none">~ http://www.hubercap.com/role/OperatingExpensesData_S000039416Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.hubercap.com/role/ShareholderFeesData_S000039416Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> HUDEX 0.0000 77 394 -0.0072 -0.0100 0.0072 0.0075 2014-02-28 0.0000 0.0075 0.0147 HUDIX 0.0025 127 549 -0.0072 -0.0100 0.0097 0.0075 2014-02-28 0.0025 0.0125 0.0197 0001027596 ck0001027596:SummaryS000039416Memberck0001027596:S000039416Memberck0001027596:C000121467Member 2012-12-31 2012-12-31 0001027596 ck0001027596:SummaryS000039416Memberck0001027596:S000039416Memberck0001027596:C000121468Member 2012-12-31 2012-12-31 0001027596 ck0001027596:SummaryS000039416Memberck0001027596:S000039416Member 2012-12-31 2012-12-31 0001027596 2012-12-31 2012-12-31 pure iso4217:USD The Fund's "Distribution and Service (Rule 12b-1) Fees" and "Shareholder Servicing Plan Fee" may each accrue up to 0.25% of the average daily net assets of the Institutional Class shares; however, the accrual of each fee is currently set at 0.00% until at least February 28, 2014, and any accrual increase must first be approved by the Trust's Board of Trustees (the "Board"). Other Expenses are based on estimated amounts for the current fiscal year. Huber Capital Management, LLC (the "Adviser") 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 1.25% of the average daily net assets of the Investor Class and 0.75% of the average daily net assets of the Institutional Class (the "Expense Caps"). The Expense Caps will remain in effect through at least February 28, 2014, and may be terminated only by the Trust's Board. The Adviser 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. 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Huber Capital Diversified Large Cap Value Fund (Prospectus Summary) | Huber Capital Diversified Large Cap Value Fund
HUBER CAPITAL DIVERSIFIED LARGE CAP VALUE FUND
Investment Objective
The Huber Capital Diversified Large Cap Value Fund (the "Fund") seeks to achieve
current income and capital appreciation.
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.
SHAREHOLDER FEES (fees paid directly from your investment)
Shareholder Fees Huber Capital Diversified Large Cap Value Fund
Investor Class
Institutional Class
Redemption Fee (as a percentage of amount redeemed on shares held 60 days or less) 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 Huber Capital Diversified Large Cap Value Fund
Investor Class
Institutional Class
Management Fees 0.75% 0.75%
Distribution and Service (Rule 12b-1) Fees 0.25% none [1]
Shareholder Servicing Plan Fee 0.25% none [1]
Other Expenses (includes Shareholder Servicing Plan Fee) [2] 0.97% 0.72%
Total Annual Fund Operating Expenses 1.97% 1.47%
Less: Fee Waiver and Expense Reimbursement [3] (0.72%) (0.72%)
Net Annual Fund Operating Expenses 1.25% 0.75%
[1] The Fund's "Distribution and Service (Rule 12b-1) Fees" and "Shareholder Servicing Plan Fee" may each accrue up to 0.25% of the average daily net assets of the Institutional Class shares; however, the accrual of each fee is currently set at 0.00% until at least February 28, 2014, and any accrual increase must first be approved by the Trust's Board of Trustees (the "Board").
[2] Other Expenses are based on estimated amounts for the current fiscal year.
[3] Huber Capital Management, LLC (the "Adviser") 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 1.25% of the average daily net assets of the Investor Class and 0.75% of the average daily net assets of the Institutional Class (the "Expense Caps"). The Expense Caps will remain in effect through at least February 28, 2014, and may be terminated only by the Trust's Board. The Adviser 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.
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:
Expense Example Huber Capital Diversified Large Cap Value Fund (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Investor Class
127 549
Institutional Class
77 394
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
Under normal market conditions, the Fund invests at least 80% of its net
assets (plus borrowings for investment purposes) in common stocks of large
capitalization U.S. companies ("large cap companies"). The Fund looks for
companies whose stocks are considered by the Adviser to be undervalued. The
Adviser currently considers large cap companies to be those with market
capitalizations in the range of those found in the Russell 1000® Value Index,
although the portfolio will generally consist of stocks with a market
capitalization of $5 billion or above at time of initial purchase. The market
capitalization range of the Index changes constantly, but as of its most recent
reconstitution date, June 22, 2012, the market capitalization range for the
Russell 1000® Value Index was between $1.4 billion and $368 billion. The Fund
also normally invests in stocks with high cash dividends or payout yields
relative to the market. Payout yield refers to dividend yield (the yield from
dividends paid) plus buyback yield (the yield associated with a company buying
back its own shares to reduce the number of shares on the market, thereby
increasing the earnings per share for the remaining shares).

The Fund may also make investments in securities of non-U.S. issuers ("foreign
securities"), including issuers in emerging markets. The Fund will invest
primarily in domestic U.S. securities but reserves the right to invest up to 20%
of its net assets in American Depositary Receipts ("ADRs"), dollar-denominated
foreign securities, or directly in foreign securities including in emerging
markets. Should appropriate investment opportunities be available, the Fund may
invest in initial public offerings ("IPOs") but not in an amount that exceeds
50% of the Fund's total assets. Additionally, the Fund may invest in Rule 144A
and other restricted securities but not in an amount that exceeds 15% of the
Fund's total assets. From time to time, the Fund may be invested in securities
of companies in the same economic sector.

The Adviser employs a value investing style, investing in stocks which, in the
Adviser's opinion, trade at a significant discount to the present value of
future cash flows. The Adviser attempts to identify out-of-favor stocks that
represent solid fundamental value. The Adviser identifies these investment
opportunities by employing a disciplined, bottom-up investment process that
emphasizes internally generated fundamental research. The process includes an
initial review, in-depth analysis, and employment of the Adviser's proprietary
valuation methodology.

The Adviser makes sell decisions based on valuation, risk and portfolio
guidelines or restrictions. As individual stocks approach their intrinsic
value and decline in their relative attractiveness, they become candidates
for sale. Other sell decisions may occur because of deterioration in the
fundamentals that supported the initial investment. Sales are initiated as
position exposures approach diversification guidelines when stocks reach their
established target price. Proceeds from sales are reinvested in companies that
the Adviser believes are more attractively valued.
Principal Risks
Losing all or a portion of your investment is a risk of investing in the
Fund. The following additional risks could affect the value of your investment:

·  Market Risk. The value of the Fund's shares will fluctuate as a result of
   the movement of the overall stock market or of the value of the individual        
   securities held by the Fund, and you could lose money.                             

·  Equity Risk. The risks that could affect the value of the Fund's shares and   
   the total return on your investment include the possibility that the equity   
   securities held by the Fund will experience sudden, unpredictable drops in    
   value or long periods of decline in value.                                    

·  Foreign Securities and Emerging Markets Risk. The Fund may invest in foreign  
   securities and in emerging markets. These investments 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. In addition, the Fund
   may invest in emerging markets which are more volatile than the markets of
   developed countries.                                                                             

·  Initial Public Offering Risk. The Fund may purchase securities of companies   
   that are offered pursuant to an IPO. The risk exists that the market value of
   IPO shares will fluctuate considerably due to factors such as the absence of a
   prior public market, unseasoned trading, the small number of shares available
   for trading and limited information about the issuer. The purchase of IPO     
   shares may involve high transaction costs. IPO shares are subject to market   
   risk and liquidity risk. When the Fund's asset base is small, a significant   
   portion of the Fund's performance could be attributable to investments in     
   IPOs, because such investments would have a magnified impact on the Fund. As  
   the Fund's assets grow, the effect of the Fund's investments in IPOs on the   
   Fund's performance probably will decline, which could reduce the Fund's       
   performance.                                                                                                                                               

·  Management Risk. The Fund is subject to management risk because it is an      
   actively managed investment portfolio and because the Fund relies on the      
   Adviser's ability to pursue the Fund's goal. The Adviser will apply its       
   investment techniques and risk analyses in making investment decisions
   for the Fund, but there can be no guarantee that its decisions will
   produce the desired results.
                                                                                                                          
·  Value Style Investing Risk. The Adviser follows an investing style that favors
   value investments. The value investing style may over time go in and out of   
   favor. At times when the value investing style is out of favor, the Fund may  
   underperform other funds that use different investing styles.                                                                                              

·  Sector Emphasis Risk. Sector emphasis risk is the risk that the securities
   of companies in the same or related businesses, if comprising a significant      
   portion of the Fund's portfolio, could react in some circumstances negatively
   to market conditions, interest rates and economic, regulatory or fiscal       
   developments and adversely affect the value of the portfolio to a greater     
   extent than if such business comprised a lesser portion of the Fund's         
   portfolio.                                                                                                                                              

·  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.                                                                             

·  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 securities.
Performance
When the Fund has been in operation for a full calendar year, performance
information will be shown here. Updated performance information is available
on the Fund's website at www.hubercap.com or by calling the Fund toll-free at
888-HUBERCM (888-482-3726).
XML 12 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Dec. 31, 2012
Huber Capital Diversified Large Cap Value Fund (Prospectus Summary) | Huber Capital Diversified Large Cap Value Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading HUBER CAPITAL DIVERSIFIED LARGE CAP VALUE FUND
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Huber Capital Diversified Large Cap Value Fund (the "Fund") seeks to achieve
current income and capital appreciation.
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.
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.
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:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Under normal market conditions, the Fund invests at least 80% of its net
assets (plus borrowings for investment purposes) in common stocks of large
capitalization U.S. companies ("large cap companies"). The Fund looks for
companies whose stocks are considered by the Adviser to be undervalued. The
Adviser currently considers large cap companies to be those with market
capitalizations in the range of those found in the Russell 1000® Value Index,
although the portfolio will generally consist of stocks with a market
capitalization of $5 billion or above at time of initial purchase. The market
capitalization range of the Index changes constantly, but as of its most recent
reconstitution date, June 22, 2012, the market capitalization range for the
Russell 1000® Value Index was between $1.4 billion and $368 billion. The Fund
also normally invests in stocks with high cash dividends or payout yields
relative to the market. Payout yield refers to dividend yield (the yield from
dividends paid) plus buyback yield (the yield associated with a company buying
back its own shares to reduce the number of shares on the market, thereby
increasing the earnings per share for the remaining shares).

The Fund may also make investments in securities of non-U.S. issuers ("foreign
securities"), including issuers in emerging markets. The Fund will invest
primarily in domestic U.S. securities but reserves the right to invest up to 20%
of its net assets in American Depositary Receipts ("ADRs"), dollar-denominated
foreign securities, or directly in foreign securities including in emerging
markets. Should appropriate investment opportunities be available, the Fund may
invest in initial public offerings ("IPOs") but not in an amount that exceeds
50% of the Fund's total assets. Additionally, the Fund may invest in Rule 144A
and other restricted securities but not in an amount that exceeds 15% of the
Fund's total assets. From time to time, the Fund may be invested in securities
of companies in the same economic sector.

The Adviser employs a value investing style, investing in stocks which, in the
Adviser's opinion, trade at a significant discount to the present value of
future cash flows. The Adviser attempts to identify out-of-favor stocks that
represent solid fundamental value. The Adviser identifies these investment
opportunities by employing a disciplined, bottom-up investment process that
emphasizes internally generated fundamental research. The process includes an
initial review, in-depth analysis, and employment of the Adviser's proprietary
valuation methodology.

The Adviser makes sell decisions based on valuation, risk and portfolio
guidelines or restrictions. As individual stocks approach their intrinsic
value and decline in their relative attractiveness, they become candidates
for sale. Other sell decisions may occur because of deterioration in the
fundamentals that supported the initial investment. Sales are initiated as
position exposures approach diversification guidelines when stocks reach their
established target price. Proceeds from sales are reinvested in companies that
the Adviser believes are more attractively valued.
Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Losing all or a portion of your investment is a risk of investing in the
Fund. The following additional risks could affect the value of your investment:

·  Market Risk. The value of the Fund's shares will fluctuate as a result of
   the movement of the overall stock market or of the value of the individual        
   securities held by the Fund, and you could lose money.                             

·  Equity Risk. The risks that could affect the value of the Fund's shares and   
   the total return on your investment include the possibility that the equity   
   securities held by the Fund will experience sudden, unpredictable drops in    
   value or long periods of decline in value.                                    

·  Foreign Securities and Emerging Markets Risk. The Fund may invest in foreign  
   securities and in emerging markets. These investments 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. In addition, the Fund
   may invest in emerging markets which are more volatile than the markets of
   developed countries.                                                                             

·  Initial Public Offering Risk. The Fund may purchase securities of companies   
   that are offered pursuant to an IPO. The risk exists that the market value of
   IPO shares will fluctuate considerably due to factors such as the absence of a
   prior public market, unseasoned trading, the small number of shares available
   for trading and limited information about the issuer. The purchase of IPO     
   shares may involve high transaction costs. IPO shares are subject to market   
   risk and liquidity risk. When the Fund's asset base is small, a significant   
   portion of the Fund's performance could be attributable to investments in     
   IPOs, because such investments would have a magnified impact on the Fund. As  
   the Fund's assets grow, the effect of the Fund's investments in IPOs on the   
   Fund's performance probably will decline, which could reduce the Fund's       
   performance.                                                                                                                                               

·  Management Risk. The Fund is subject to management risk because it is an      
   actively managed investment portfolio and because the Fund relies on the      
   Adviser's ability to pursue the Fund's goal. The Adviser will apply its       
   investment techniques and risk analyses in making investment decisions
   for the Fund, but there can be no guarantee that its decisions will
   produce the desired results.
                                                                                                                          
·  Value Style Investing Risk. The Adviser follows an investing style that favors
   value investments. The value investing style may over time go in and out of   
   favor. At times when the value investing style is out of favor, the Fund may  
   underperform other funds that use different investing styles.                                                                                              

·  Sector Emphasis Risk. Sector emphasis risk is the risk that the securities
   of companies in the same or related businesses, if comprising a significant      
   portion of the Fund's portfolio, could react in some circumstances negatively
   to market conditions, interest rates and economic, regulatory or fiscal       
   developments and adversely affect the value of the portfolio to a greater     
   extent than if such business comprised a lesser portion of the Fund's         
   portfolio.                                                                                                                                              

·  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.                                                                             

·  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 securities.
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 is available
on the Fund's website at www.hubercap.com or by calling the Fund toll-free at
888-HUBERCM (888-482-3726).
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 (888-482-3726)
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.hubercap.com
Huber Capital Diversified Large Cap Value Fund (Prospectus Summary) | Huber Capital Diversified Large Cap Value Fund | Investor Class
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Redemption Fee (as a percentage of amount redeemed on shares held 60 days or less) rr_RedemptionFeeOverRedemption (1.00%)
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution and Service (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Shareholder Servicing Plan Fee rr_Component1OtherExpensesOverAssets 0.25%
Other Expenses (includes Shareholder Servicing Plan Fee) rr_OtherExpensesOverAssets 0.97% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.97%
Less: Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.72%) [2]
Net Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.25%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2014-02-28
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 127
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 549
Huber Capital Diversified Large Cap Value Fund (Prospectus Summary) | Huber Capital Diversified Large Cap Value Fund | Institutional Class
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Redemption Fee (as a percentage of amount redeemed on shares held 60 days or less) rr_RedemptionFeeOverRedemption (1.00%)
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution and Service (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none [3]
Shareholder Servicing Plan Fee rr_Component1OtherExpensesOverAssets none [3]
Other Expenses (includes Shareholder Servicing Plan Fee) rr_OtherExpensesOverAssets 0.72% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.47%
Less: Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.72%) [2]
Net Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.75%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2014-02-28
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 77
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 394
[1] Other Expenses are based on estimated amounts for the current fiscal year.
[2] Huber Capital Management, LLC (the "Adviser") 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 1.25% of the average daily net assets of the Investor Class and 0.75% of the average daily net assets of the Institutional Class (the "Expense Caps"). The Expense Caps will remain in effect through at least February 28, 2014, and may be terminated only by the Trust's Board. The Adviser 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.
[3] The Fund's "Distribution and Service (Rule 12b-1) Fees" and "Shareholder Servicing Plan Fee" may each accrue up to 0.25% of the average daily net assets of the Institutional Class shares; however, the accrual of each fee is currently set at 0.00% until at least February 28, 2014, and any accrual increase must first be approved by the Trust's Board of Trustees (the "Board").
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Risk Return [Abstract] rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Dec. 19, 2012
Registrant Name dei_EntityRegistrantName ADVISORS SERIES TRUST
Central Index Key dei_EntityCentralIndexKey 0001027596
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Dec. 19, 2012
Document Effective Date dei_DocumentEffectiveDate Dec. 19, 2012
Huber Capital Diversified Large Cap Value Fund (Prospectus Summary) | Huber Capital Diversified Large Cap Value Fund | Investor Class
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol HUDIX
Huber Capital Diversified Large Cap Value Fund (Prospectus Summary) | Huber Capital Diversified Large Cap Value Fund | Institutional Class
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol HUDEX
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