0000894189-13-000116.txt : 20130110 0000894189-13-000116.hdr.sgml : 20130110 20130110101016 ACCESSION NUMBER: 0000894189-13-000116 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130110 DATE AS OF CHANGE: 20130110 EFFECTIVENESS DATE: 20130110 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: 13521749 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: 13521750 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 S000039497 Scharf Balanced Opportunity Fund C000121649 Investor Class LOGOX 485BPOS 1 ast-sbof_485bxbrl.htm POST EFFECTIVE AMENDMENT FOR XBRL ast-sbof_485bxbrl.htm

 
Filed with the Securities and Exchange Commission on January 10, 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. 471
x
                 and
 
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
x
Amendment No. 473
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. 471 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. 468 on Form N-1A filed December 24, 2012.  This PEA No. 471 is filed for the sole purpose of submitting the XBRL exhibits for the risk return summary first provided in PEA No. 468 to the Trust’s Registration Statement for its series: Scharf Balanced Opportunity 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. 471 meets all of the requirements for effectiveness under Rule 485(b) and the Registrant has duly caused this Post-Effective Amendment No. 471 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 10th 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. 471 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 10, 2013
Donald E. O’Connor
   
     
George J. Rebhan*                                     
Trustee
January 10, 2013
George J. Rebhan
   
     
George T. Wofford*                                     
Trustee
January 10, 2013
George T. Wofford
   
     
Joe D. Redwine*                                      
Trustee, Chairman and
January 10, 2013
Joe D. Redwine
Chief Executive Officer
 
     
/s/ Cheryl L. King
Treasurer and
January 10, 2013
Cheryl L. King
Principal Financial Officer
 
     
/s/ Douglas G. Hess
President and
January 10, 2013
Douglas G. Hess
Principal 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 ck0001027596-20121226.xml INSTANCE DOCUMENT 485BPOS 2012-12-26 0001027596 2012-12-26 ADVISORS SERIES TRUST false 2012-12-26 2012-12-31 The Fund is non-diversified under the Investment Company Act of 1940, as amended (the "1940 Act"). To the extent that the Fund invests its assets in fewer securities, the Fund is subject to greater risk of loss if any of those securities become permanently impaired. <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.scharffunds.com/role/ExpenseExample_S000039497Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Scharf Balanced Opportunity Fund (the "Fund") seeks long-term capital<br />appreciation and income.</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 Cap only in the first<br />year). Although your actual costs may be higher or lower, based on these<br />assumptions, your costs would be:</tt> <tt>The Fund invests in a mix of equity securities and fixed-income securities. <br />Under normal market conditions, the Fund allocates between 50% and 75% of <br />its total assets to equity securities. Equity securities in which the Fund <br />may invest include, but are not limited to, common and preferred stock of<br />companies of all market capitalizations, rights and warrants. The Fund may<br />invest up to 50% of its total assets in securities of foreign issuers <br />(excluding depositary receipts), including up to 25% of its total assets <br />in issuers in emerging markets. The Fund may invest without limit in depositary <br />receipts, such as American Depositary Receipts ("ADRs"), European Depositary <br />Receipts ("EDRs") and Global Depositary Receipts ("GDRs"). The Fund may also <br />invest up to 30% of its total assets in other investment companies, including <br />exchange-traded fundsx ("ETFs").<br /><br />Under normal market conditions, the Fund allocates between 25% and 50% of its<br />total assets to fixed-income securities. Fixed-income securities in which the<br />Fund may invest include, but are not limited to, those of domestic and foreign<br />governments, government agencies, inflation-protected securities, asset-backed<br />securities, exchange-traded notes ("ETNs"), money-market instruments, convertible <br />securities, bank debt, limited partnerships, municipalities and companies across <br />a wide range of industries, market capitalizations and maturities, and may include, <br />with respect to up to 30% of the Fund's total assets, those that are rated below <br />investment grade (i.e., "junk bonds"). The Fund may also invest up to 20% of its <br />total assets in Rule 144A securities.<br /> <br />In general, the Adviser utilizes five key elements in its equity investment<br />philosophy: low valuation, discount to fair value, investment flexibility, focus<br />and long-term perspective. Through a proprietary screening process, the Adviser<br />seeks to identify equity securities with low valuations combined with growing<br />earnings, cash flow and/or book value which the Adviser describes as "growth<br />stocks at value prices." The Fund may also invest in "special situations," <br />which may occur when the securities of a company are affected by circumstances,<br />including, but not limited to, hidden assets (i.e., assets that may be<br />undervalued on a company's balance sheet or otherwise difficult to value <br />and therefore not properly reflected in the company's share price), spinoffs,<br />liquidations, reorganizations, recapitalizations, mergers, management changes<br />and technological changes. The Adviser seeks to identify fixed-income investments <br />with favorable risk-reward characteristics. In screening for suitable investments, <br />the Adviser considers many factors, including yield-to-maturity, credit quality, <br />liquidity, call risk, duration risk, and capital appreciation potential.<br /> <br />When selling securities, the Adviser considers the same factors it uses in<br />evaluating a security for purchase and generally sells securities that it<br />believes no longer have sufficient upside potential. <br /> <br />The Fund is non-diversified, which means that it can invest a greater percentage<br />of its assets in any one issuer than a diversified fund. Investing in fewer<br />issuers makes a fund more susceptible to financial, economic or market events<br />impacting such issuers and may cause the Fund's share price to be more volatile<br />than the share price of a diversified fund.</tt> SUMMARY SECTION 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 of Investing in the Fund SHAREHOLDER FEES (fees paid directly from your investment) Performance 866-5SCHARF 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 prices of the securities in which the Fund invests may&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;decline for a number of reasons. These reasons may include changing economic <br />&#xA0;&#xA0;&#xA0;circumstances and/or perceptions about the creditworthiness of individual&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;issuers.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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;<br />&#xA0;&#xA0;&#xA0;actively managed portfolio. The Adviser's management practices and investment<br />&#xA0;&#xA0;&#xA0;strategies might not produce the desired results. The Adviser may be&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;incorrect in its assessment of a stock's appreciation potential.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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;Non-Diversification Risk. The Fund is non-diversified under the Investment&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;Company Act of 1940, as amended (the "1940 Act"). To the extent that the Fund<br />&#xA0;&#xA0;&#xA0;invests its assets in fewer securities, the Fund is subject to greater risk&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;of loss if any of those securities become permanently impaired.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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 and Emerging Market Securities Risk. The risks of investing in the&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;securities of foreign issuers can include fluctuations in foreign currencies,<br />&#xA0;&#xA0;&#xA0;foreign currency exchange controls, political and economic instability,&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;differences in securities regulation and trading, and foreign taxation&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;issues. These risks are greater in emerging markets.&#xA0;&#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 Currency Risk. Currency movements may negatively impact value even&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;when there is no change in value of the security in the issuer's home&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;country. Currency management strategies may substantially change the Fund's&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;exposure to currency exchange rates and could result in losses to the Fund if<br />&#xA0;&#xA0;&#xA0;currencies do not perform as the Adviser expects.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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;Small- and Medium-Sized Company Risk.&#xA0;&#xA0;Small- and medium-sized companies&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;often have less predictable earnings, more limited product lines, markets,&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;distribution channels or financial resources and the management of such&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;companies may be dependent upon one or few key people. The market movements&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;of equity securities of small- and medium-sized companies may be more abrupt <br />&#xA0;&#xA0;&#xA0;and volatile than the market movements of equity securities of larger, more&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;established companies or the stock market in general and small-sized&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;companies in particular, are generally less liquid than the equity securities<br />&#xA0;&#xA0;&#xA0;of larger companies.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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;Investment Style Risk. The Adviser follows an investing style that favors&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;relatively low valuations. At times when this style is out of favor, the Fund<br />&#xA0;&#xA0;&#xA0;may underperform 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;&#xA0;&#xA0;&#xA0;&#xA0;<br /> <br />&#xB7;&#xA0;&#xA0;Investment Company Risk. When the Fund invests in an ETF or mutual fund, it&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;will bear additional expenses based on its pro rata share of the ETF's or&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;mutual fund's operating expenses, including the potential duplication of&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;management fees. The risk of owning an ETF or mutual fund generally reflects <br />&#xA0;&#xA0;&#xA0;the risks of owning the underlying securities the ETF or mutual fund&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;holds. The Fund also will incur brokerage costs when it purchases ETFs.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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;Fixed-Income Securities Risk. The following risks are associated with the&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;Fund's investment in fixed-income securities.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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 />.&#xA0;&#xA0;Prepayment and Extension Risk. The risk that the securities may be paid off <br />&#xA0;&#xA0;&#xA0;earlier or later than expected. Either situation could cause securities to&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;pay lower-than-market rates of interest, which could hurt the Fund's yield&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;or share price.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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 />&#xA0;&#xA0;<br />.&#xA0;&#xA0;Interest Rate Risk. Interest rate risk refers to the risk that bond prices&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;generally fall as interest rates rise; conversely, bond prices generally&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;rise as interest rates fall.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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 />.&#xA0;&#xA0;Credit Risk. Credit risk is the risk of loss on an investment due to the&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;deterioration of an issuer's financial health. Such a deterioration of&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;financial health may result in a reduction of the credit rating of the&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;issuer's securities and may lead to the issuer's inability to honor its&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;contractual obligations including making timely payment of interest and&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;principal.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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 />.&#xA0;&#xA0;High-Yield Securities Risk. Fixed-income securities that are rated below&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;investment grade (i.e., "junk bonds") are subject to additional risk factors<br />&#xA0;&#xA0;&#xA0;due to the speculative nature of these securities, such as increased&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;possibility of default liquidation of the security, and changes in value&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;based on public perception of the issuer.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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 />.&#xA0;&#xA0;Municipal Securities Risk. Municipal securities rely on the creditworthiness<br />&#xA0;&#xA0;&#xA0;or revenue production of their issuers or auxiliary credit enhancement&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;features. Municipal securities may be difficult to obtain because of limited<br />&#xA0;&#xA0;&#xA0;supply, which may increase the cost of such securities and effectively&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;reduce a portfolio's yield. Typically, less information is available about a<br />&#xA0;&#xA0;&#xA0;municipal issuer than is available for other types of securities issuers.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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 />.&#xA0;&#xA0;Asset-Backed Securities Risk.&#xA0;&#xA0;Asset-Backed Securities Risk includes Market <br />&#xA0;&#xA0;&#xA0;Risk, Interest Rate Risk, Credit Risk, Prepayment Risk (i.e., homeowners&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;whose mortgages collateralize the securities held by the Funds may be able&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;to prepay principal due on these mortgages, which could cause the Fund to&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;reinvest the proceeds at lower yields).&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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 />.&#xA0;&#xA0;Exchange-Traded Note Risk. The value of an ETN may be influenced by time to <br />&#xA0;&#xA0;&#xA0;maturity, level of supply and demand for the ETN, volatility and lack of&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;liquidity in the underlying securities' markets, changes in the applicable&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;interest rates, changes in the issuer's credit rating and economic, legal,&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;political or geographic events that affect the referenced index. In&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;addition, the notes issued by ETNs and held by a fund are unsecured debt of <br />&#xA0;&#xA0;&#xA0;the issuer.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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 />.&#xA0;&#xA0;Bank Debt Risk. The Fund's investments in secured and unsecured assignments <br />&#xA0;&#xA0;&#xA0;of bank debt may create substantial risk. In making investments in such&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;debt, which are loans made by banks or other financial intermediaries to&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;borrowers, the Fund will depend primarily upon the creditworthiness of the&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;borrower for payment of principal and interest.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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 />.&#xA0;&#xA0;Inflation Protected Securities Risk. Inflation protected securities include <br />&#xA0;&#xA0;&#xA0;the risk that the rate of inflation will be lower than expected or that the <br />&#xA0;&#xA0;&#xA0;relevant index intended to measure the rate of inflation will be accurately <br />&#xA0;&#xA0;&#xA0;measure the rate of inflation and the securities will not work as intended.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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 />.&#xA0;&#xA0;Rule 144A Securities Risk. The market for Rule 144A securities typically is <br />&#xA0;&#xA0;&#xA0;less active than the market for publicly-traded securities. Rule 144A&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;securities carry the risk that the liquidity of these securities may become <br />&#xA0;&#xA0;&#xA0;impaired, making it more difficult for the Fund to sell these securities.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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 />.&#xA0;&#xA0;Convertible Bond Risk. Convertible bonds are hybrid securities that have&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;characteristics of both bonds and common stocks and are therefore subject to<br />&#xA0;&#xA0;&#xA0;both debt security risks and equity risk. Convertible bonds are subject to&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;equity risk especially when their conversion value is greater than the&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;interest and principal value of the bond. The prices of equity securities&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;may rise or fall because of economic or political changes and may decline&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;over short or extended periods of time.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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;Special Situations Risk. There is a risk that the special situation (i.e.,&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;spin-off, liquidation, merger, etc.) might not occur, which could have a&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;negative impact on the price of the issuer's securities and fail to produce&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;gains or produce a loss for the Fund. In addition, investments in special&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;situation companies may be illiquid and difficult to value, which will&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;require the Fund to employ fair value procedures to value its holdings in&#xA0;&#xA0;&#xA0;&#xA0;<br />&#xA0;&#xA0;&#xA0;such investments.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#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 <br />&#xA0;&#xA0;&#xA0;assurance that the Fund will grow to or maintain an economically viable size.</tt> Fees and Expenses of the Fund Principal Investment Strategies of the Fund www.scharffunds.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.scharffunds.com or by calling the Fund toll-free <br />at 866-5SCHARF.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and <br />hold shares of the Fund.</tt> <div style="display:none">~ http://www.scharffunds.com/role/OperatingExpensesData_S000039497Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.scharffunds.com/role/ShareholderFeesData_S000039497Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> LOGOX 0.0010 122 669 -0.0137 -0.0200 0.0158 0.0099 2014-01-27 0.0120 0.0257 0001027596 ck0001027596:SummaryS000039497Memberck0001027596:S000039497Memberck0001027596:C000121649Member 2012-12-31 2012-12-31 0001027596 ck0001027596:SummaryS000039497Memberck0001027596:S000039497Member 2012-12-31 2012-12-31 0001027596 2012-12-31 2012-12-31 pure iso4217:USD Other expenses are based on estimated amounts for the current fiscal year. Scharf Investments, LLC (the "Adviser") has contractually agreed to waive a portion or all of its management fees and pay Fund expenses in order to limit the Net Annual Fund Operating Expenses (excluding acquired fund fees and expenses ("AFFE"), interest, taxes and extraordinary expenses) to 1.20% of average daily net assets of the Fund (the "Expense Cap"). The Expense Cap will remain in effect through at least January 27, 2014, and may be terminated only by the Board of Trustees (the "Board") of the Trust. The Adviser may request recoupment of previously waived fees and expenses from the Fund for three years from the date they were waived or paid, subject to the Expense Cap. EX-101.SCH 3 ck0001027596-20121226.xsd SCHEMA DOCUMENT 0011 - Document - Document And Entity Information {Elements} link:calculationLink link:presentationLink link:definitionLink 0112 - Document - Risk/Return Summary {Unlabeled} (Scharf Balanced Opportunity Fund) link:calculationLink link:presentationLink link:definitionLink 0113 - Schedule - Shareholder Fees link:calculationLink link:presentationLink link:definitionLink 0114 - Schedule - Annual Fund Operating Expenses link:calculationLink link:presentationLink link:definitionLink 0115 - Schedule - Expense Example {Transposed} link:calculationLink link:presentationLink link:definitionLink EX-101.CAL 4 ck0001027596-20121226_cal.xml CALCULATION LINKBASE DOCUMENT EX-101.DEF 5 ck0001027596-20121226_def.xml DEFINITION LINKBASE DOCUMENT EX-101.LAB 6 ck0001027596-20121226_lab.xml LABEL LINKBASE DOCUMENT EX-101.PRE 7 ck0001027596-20121226_pre.xml PRESENTATION LINKBASE DOCUMENT XML 8 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } ZIP 9 0000894189-13-000116-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000894189-13-000116-xbrl.zip M4$L#!!0````(`$]1*D+1HE^R-2(``%;I```9`!P`8VLP,#`Q,#(W-3DV+3(P M,3(Q,C(V+GAM;%54"0`#YMGN4.;9[E!U>`L``00E#@``!#D!``#L/6MSX[B1 MWU.5_X#37;9FKBQ;DE]C[XY3LBWO3MV,/25YLYO[XH)(2&),$0Q`VE8^Y+=? M=P,@03UL:^QUM!?6/@H60;#1:/0;C1_^_#"-V9U0.I+)QT9[N]5@(@ED&"7C MCXU<-[D.HJC!=,:3D,`8_)?AJ(-BY#/*I2+(M-N1:A$PF[-?3_F?6V6XS-LFR]'AG MY_[^?EN$8ZZ:D@;<#N1TAS6;[F-_,7`>,W:PW6G!B^6COLR3\)CY/YTIP3/H MSD(`Y)AU6NU.$_[M'%YW6L>[^\>MO?_U>\MTIJ+Q)&/O@O?0N;7?A#?:E0EN MP72";=:-8];'KIKUA1;J3H3;=J2'H8H9H#31'QO>I/#G;:G&.S#N[DYD<=(P M/8_Q:?Q(?_CT+2*MZ(\_5/K?[U+O]M'1T0X]=5TC+?^?7+YT$P$5/>G)]!<-N"#JW.X?[10>5U'4RX&HU@;30M)BY"N],Y<"^& MHOP.HO=#@W8=OO8,<\K'3-EG;=-UVS!A`<8T1R M\;&FA>F+$:/U/\9)?6SH:)K&N$KT&U>!DK%X'J71&Q,E1A\;_NHVW0IN/^CP M&PCR^;2^8Z8'A'#L>,CO?:'(]S=@,FC@Z.; MP?7Y3?O&P+K;O@&N%H4?&U%X<_#AH-,ZO.D>G+6/NF='S<[%0:>Y=];J-+L' MNQ?-H];>Q=[A_L$^O`8#[#9.]C[LGWZ]&ORP,P_((GA?@8)DV$O"<^1\;PGG M?N.D8&\'55`K0)4P]Y(LRF9GT$'Q^%,2BH?_$;/7@7EO]^SPM-L^:_9:!]WF MWD5WKWEZ=GC1;)T=GE]<=,Z/#G:[,$"[<5*2E8%Y*5"+>.Z-1B+(HCOQYGAN MK\9S!:AY//?%.-(PJ22[Y--7`OF9:&XU3KKG?_DTN.H/V*#7_]0;L.O^SX-K M'^-5\$K@NS"Q$"=W$?/QFR)ZKW$RXK$6!LH*'(OTX`3]FY-#:S4Y^#`9B)4Z M_JJD3H%*FD='AQ_@'_I[M_C[8'XVYT>]L][%:1OF\*'7W&N=P6RZK5ZST^N M[._VCF`7`MNXZ7QHG%Q/!+L`W8)%FJ'4]X!F\+-0+)N@"GHG=(:+`DK>-.7) MC'6#C,D1:Q_MM;88UXPC@<%+?_S#.WRC@0^P4^/]-KN6-`I,'4?()CRCO\UW M:6C-(OB/:RVPF;"1N(=/@\J0JRB+A-Z"<3,/5)T/_P:(9YED8R03Z*P`ZPA1 M+#4,,6(()/R93:06WDAL*$"+$C!>*M24)P!1/&,@Y'FD0`FE=5VU@"452I6- M9!S)ZUPE$GI=P]Q.8QG<;MP:`]5^%V??9]EWX^S[8K53/M,,V97F`2GX@81% MV`*\!A-<34#1--)H*<"/]Q.1P/JP80XO@1$#V(QCC:,.%=O!<3WTOI.*-3)` MBV:(F`8M;.KP!<3091-0_&'!BA]99K'(R-[Q!YYR6!M8B``?V/<6P":8L*<2 M.H\SI!_7E3\`2`0_3KL",FC5\`S^QR8B1CID'/OS82P8#P(PAC*@W`E8)PXY M]Y,(L0-O)#*#CXUB($&!K_H#<]"O>T>[1T=?A'3(=!&(.-\"I:MB&X^BS&/C1SO/D1$_2D0&/MOUTFIFY+7 M#Y!RSF)@5G.=E;QGJ8JF7,V\7]D_:?%@,L7J/7]IBM6\(GX'#.FK^<#F+MX\ MOQG0XK!3'B,EA^PJQ8V?)X!LPXN,O,!FXSVP%G&K@8!IE/*YL ML#15(HB,8X*3"$&.OK!'5J)LQ1:YY`HWZ]WF;HSVARIR@?HL["@3(X"51#`( M16!I*9O)W-`A<"S$,;(Q%(E&Y")7LIQHGC?>`T6N?D-FR%JG>>;8G"8^68`" M&P/T-VWD/,#@CVP&8O_5;FT!*OWO,^!U]$<6@71.R>32!>\/::$S9.0@I868 M,A['%4D!4,*W0&>P?-WP4X%,V"D!=M`Y:&,M%T!6BS"3\C-!18?M_PF`0)G% M!`>!,!-<6?#X(A=?%`'^V$I,N46"1K/F7<9O#9IA$:T4LL*"7F9G/&4R08W% MO#6*E,[\$1$:E+(QS#D?3PQ2@!/A8AEIB9)R6$A3P'HL0=GRG(H9"KW*CD/T M$'<"*4@#FI'N90Z24QNKV(&##$7^>+;Y>Z^SMU21*M175!^FT0-2 MF_A[CLS-4XJ0.D;1@PB;AE=YS[8K5/PSJ=P)BOT8%DK=B@P1$486^<5N`?*7 MN#%0G\WN!>R+_=:?Z#N'0)X`1(6"`ZP8`1!]`]N4:&,^QA'O$?J23*[LPE.@&T)W\E3G#IB"IG:/%9@MM[< MH0>P)!&-0?<%^@=+H#+Y=^(!IXR;-12PU0$XA1IH(*(TT^^W+$KPN?EJ9W_Y M5ZM@%M^"II@*-<8!#`KFIN=0C\Q:YA;;^)H'3I75&-!*);]+_EJ>L//RC;[M MQ=XUNN=]W8")]'(%3*S:S1_8>Z5'K]":_!C+(4QR^=`_4K^Y^1`G7KEHNZL7 MS0@DCTT7-.2O@C\RK-V$)V/1!/:#$I.DV`-.X/H"`?/[OM+VQ.5'O)3$YP\\ MOSM7,HN+Y0\J.]4?>)Y:GMRH1E0"A"%\`61^8)B7V0G^R&,T.Q+$-TR\_(/Q ML4@"B_M13+NUF2J9&5O)-^EINLTA#VY%U33S^LRO%(`KB-*N+XDX@:F(6=,N M!<945&Y!@G4!F+(([;E5HP]Y<@O[99AM%3@`;2E+8`-.HA0Z3$%/#:(4^$[! MQTL&Q0.%OH:*I(3M&`JP8P%DHSB%.V=>XF*4Q`ZH@K1R`B1A4I*!Q$(@2 MS$9!3%('"K@%\BOX-1!:5Z9:I6.TE``P(#@P74>S)7H'D4ME3F2O#J,$UIX> MCL%HA:]5F"-7"`!N(:XG,$%X'^:Q`YKB4,I;@P-/+W#+$`H`/AKBQM"L@0-G MDPK`*.U),SD?.=I\X'H[[ MS&C:_HCD4J7IDZ9=`.6V[-!8R6#%"&`5@'&2;?>`7Z#%T2@*T+\%:VXP.$]I MV%<@JR90D:R$BF<53Y4UZRH?)9/)+`=P5)U&B1R-JIB((Z"ML%"]A%1CX(&E M+B86U#/478#TE(!*,7"96OK!!0#1,$AG+,2@CL>MD6(RCK45BKTC(:*T`Z4#(";1EY/#/.9'^STM:)*BP:Q%0D8!&`KHF= M`F`3#KQ>Y[@G(J2M/$4XO7FSE1-_).;AG+Q3T'<+2!CJR)8E\2+>`'LK@$\! M;<^Y(:J1#`I#),+J]3@D;GL_S(+*Y[8-L5@7"X4_*IS(6@53?HO\U7B7I[C3 M=:X#D1HUAQ3'!!A(A")2P-K)*2AP@'NK>P`.DZKB&9&;DB@`K0+W':>$!#S7 M8D&Q\!@&?G,H#"AW$M6]6%2W"+?!&R3?PD4F+.!@Z4U10=2%^Q+8 MF"*]$%1'8,KHCC-!Q>>@H0PPEK&?JT3\%0:Y4I]!&]PT/.T"@?_B%"[BJ>@B M':+!BX:Y\7T"OA`[R+5`C@%61!)R1:C9\J-<:#!BD]ZXCZ#O$/F&O$\8*C8& MC:LPLQ@IV=#-TVF<>.'T`MIJR&)^#R'#^`SVVQ%$/J,IS;0O5%3!?8X^*G;[_UT]?F\UV<7O=Z`O1L!O"SE M40BR'311S*L8*3F=)X#W1KHOG6>!AE.NSJ!'UDU";\=3<'135_\(5K\$E2;Y M]"R6H/&[85'>!AWTX.&CN#\Z`""[F^?("_"5O=L$P)P_WI\D?6^_5K[W*`Q%[H!2YFB#DU?D`0 MN5QI(SC_G#'<%[FBV12K\+,Z\6A3-P/H!06LS`&[/'5EF:S['<0##_QXX&N) MOWG7O?&"`+IB;P=Z"U?_^?#Z>'KM5M M>:TOQG+$13'`&+>=H^='@X4N.(K!N"5#/[NU".R*GJ$(Z!2-43>3G!)]`%(P MV;5,M,OGLG_Z;G;C=J(PO3.;G__9B@?1^4II[Z?6QS_$"!V9!^3QN0?RF`"@ M6ML@0707A3F/7Q\CUJ#??A'^ZU;=JEMUJVY]JPPM0B"E'%V2RNZ%2DA!&`KC M?XV,UI"\#.#'>W+R.X#)9H`(R_3L2B3&N8`]4%.,HT16\JV(L3[^;6T\O:A$ M3.G\J`U?A7E@G,^AT)B=;Q.\YV)#-LKV)HO^>$^,1BFT?%W<&<,`6A.6R.=- M(5"'PE7QFG\]E=>MNE6W7H?W7\JD>>Y"78'9[(M"X#E'KUZ+2SUU@FNM\UOK M,,?G'?1ZQC&OE\W_^6?$EIX0VP!*K%MUJV[]=CS[PN9]HS[;B6<_GI=N\E.,'VL4YX'+E",&:_N:N#0EYC[_LW,OSXIT7/+& M*AD#OTXE)L=BK!O157C/J+Z)S8M\K25\O"PN2U4)H_[9M$=<[L*#[_G7B_->9LL[$W(" M6LIOB>+'>U)JM)KY>"R]`KY-#S@%30[]XVCA`EKM9.?RREX&C7B`07)%&6F+ M_$I1EI')W\>(27E4''5!0;FEI>8Y6@,)!5]EH32."Q,)197:SZ3$@&'P[[UY MZU;=JEN_%:]^MC0<3($)-XD9?A%AE$^;@^@?8/@[QP`)QR=>G)H7-;U8'(EZ MX0P>[2E'&8A,2ON.,7":8B0U,!GZY9$52D0NSG*1"QD/;23E`2S]E#JZAL*) M1[N&N9S'T];+Y"[2+XDA/*G.SVT%B7R M:I6J;M6MNE6W7K_U;?X6[X##``MX>:Y29PZ;G$;4BSRG*57[,@$F.K7Y?(7R MV?)#B=@Y=ZH'H[=9-Z/B0]H=(<8`%`$$#\`U1R MPDPUMZ=[!1T@;/+TJ5L-[U!1T!+@NV;>'Q MZA=Q47LZ#\\YE!GIQ9&(XI@DU?Y4$KVOW)X`MGYM`*JHD*9>G\M[DUU=B,T_ MG(\P%3E8+,S3V"5KR-'+EORI&L'0-/1/+UG?0:UC# MF1^TM)_!WTA$Q;-J10"W8',0O,WN>+PG'B#SZV)1]1`B3EC:7+&ADK>`I;%P M%>ML*5M7BT#CO&H16[?JUH:).E/H[).I[[(TZ:(\%55&S;G6$E-J77FCIU,P MOH'I^*4P_(-=R,-575W.5 M22LMDG\]]=#&9>CDOQR-UE!#P8"((UN$F+*=*$)@,B7P1K!>1#58BMIO-GG# MG(KQ%53Y,HZ.1[>I"G(3`7#E)$W."&7U`6S`YEUU*`/%)%>+Y9ZIR-?+@)'* M+Y94RXZZ5;?J5MW:A-933/PI,?O)2A+6QPMMC&PM?J/;;TC*4H7T(B>Q%+Q8 M?M<68/@F\(I6Z3P:8?%-\;VLH:Q'/MOQOE[ZG5T- MH<`*S%*Y4`M]NG+$H9Y-M-J#K*]C\JZ^%SL=[SH,S=^\.B6CVAEF:OW MWEI+C?HI&D^:?T4'[V)`P@,KZ+&7"U)=Z_#&LI; MH1@RO*4E-XF5+,'K+5RB3\5/7UX]!HC"(HR_P4F&YTMS4';MQ3UTW948<53B MO)M.YL_@VNLVS/TDQ4G=UX>L2)]*UUA*> M7]Q->HNRLWQ4J=D1S^QEM`M%<]>*I2HLVT#7C?;JK;S'VN\4\S_P6\W*PZ(/6 MB,,B/_(>[Z1]?8YZ3Y4/I\!.QWQ,UW#%E(B%-SF*^3RO"5J^PUF1\U3()&1_ M+X,#9%E*LV>%DY7B#NXV^A+$:@Y6]7ZZ57E@WR1J[(5_=#`$KV(5(=U=2FEB M1M[H]S4WKUMUJVYM4FLM"=ESUZM?F^O5+V7F']8N2M'1$;1+Q^_Q8O<<"RT: M<1!-R0^XSJ$W=P%N#,99;.P+-$/(K`C%U!9FM`?/+K=[2&N]25^81U&0LY5CP%06ROE+5^[O(:(LI@,R02`0H?,,WM;8C^\9[. MZ6W.\"$`$()-`AV<3K';>L?;9UJV[5K;KU M>VFMI4F=\N26G:-DJ-[NL'A0M*Q.C==')Z$G6;C6T3@QG=8JB3;$KY-@J%:2PYW;\7"I2R"#TYX8W[M,RQ M(PT(JP%R]<@QKQ=!-I1*H4GOWSQ!!01,?43T1X">%X%N2F425]WAMRJI;VTX M2._UDMM*?XBY73W`O``M: MHD3.##6+8G4L9'4!S)9Y+A9&P0A]S18[YC5-Q)P`SW(5- MXP6'(AM?K=(':^BDT3#A/.Q$/U3(%$YTOSGL6_O63MGA=1HPPVXT>NM3T\@$ M`BC*Y3UUKU#EIX`>!"\XG41A4Q3J7$EA36(C^0L&RTHB3G.U##3Y/+:/KLT] M-;`G+N=+8Y6IYZ>N:YQ&Y:$S.=:^X.Q4EFL[S!2>1"0.S_UGU`&SM!S"D,!/ MRZ/O>>F^M6^]$U?M4[AYXJ,WU1F&F\N(1>TR^;+3$<)L.>:^M^)KCP4BML_$ M)C,7@],8\*W$GY#&/XZ2F9H.E16:ST%.HP3^XHHKA#G.L,28YGC_DC,!&(). M=;(R4#+5&9IW1`Y]O@%%VIAO@EX;RF#HZB^J.*D:5CY7B0)04A4V0]C75`4S MM5.]SW:C!P-JAR>%HEJ((;%1RWP&ZZH^;&M"%""*20VPNH9+"D+FK9E5R\/- M.S.P*3N?"M/TV`0KF&QK0M$=IE2:13S!8:FH*PH+"XRF]<1AEC_?YQW:M_:M M?>L#M%Z7/W0HMBECZ&?54#/]3!1==,L9[>03>;8YX8"Y+;X;+_RP$DVGAWJ, M&>@G3%068LFD>F#,_=M90JZ(G)GT<`T20A1)\?AN^U_(YIX<)@UV'P11)@'"L0X(261 MNZN'H2C9I"F3.R;;QBIK@-@=(!0#3#3J[>6/?6O?VK?VK?=NO4[>^LKNQ992 M='^AZM9PB[*QAY%6A6/FQTG$E\JR!;L2EK$?HU/F2\HZ@C#",4XSE^-R%XY; M'MU3F"2'O=D/*582S8-2ZZ9#C#N?@O>PK&(5AZTE"8YZ7./\"$'YZG).(M$- M:,IG033YZ%=NI M6%:KV^J.AC?G(WOD6+9C.W5[9(U:EN,XG8=*M]ONP!_]KF>_6Z;A>R>F[XU: MG99CM4?GW4%_<'%F5WJMSJ#2L/I.I=>S!A5GX)SUSRZ:]4'7'MF698\:YND% MDU+90%5FD2(?LN.=@K%QK*BXV5(2R!EH'X3 M];AP"?5$*">YF?_.QJ`YL)[G<32Z?#`$U`$!QOW]?37&@\DIU1*K@B!J$*C/ M`FD=`E;7^H<#W#)/\2L5'VFQZM',C8%]8'V74+$9$,]15T`O;F`'\,&ST'.Y ML618IW21`Z[S&SUF6!GTXUET'QK(I*K&]X5'J5RTQQ^/,]9?'.5S5:30'@25*6?%U\,[.JU6I3GL_]*[OECA91O)7&9I M'W\A-/5U<(.E^D0E:(_%$^Z/9=&BJ6*`66DJVB6644K*&L8;^E/Z.4[%3J1C M%/4=D8J]P$Y64/LHTC*T]L(P=0-\^$KM?XHEW^"T/RR:ZRV!9\^_$^4(3TS/ MCQ>!NSP*HY"9B(._C%F2+(YJM35+N,:C@-56@#YW$W!D;&R#C"60/QP1-Y)$$`ZF M=82A;D#?X7(^CH+=4`I_-SK9[\YK*>>,8+^[O/KWU?^.:RM3SY8BE@($*H:) M?86"M%JX5W>,4T#[CL2752#3T!=C+%+.3+1;`=6"^,1LO!X!-F#`JL(BMHC& M3\):WLH&#Z`K!.P/V/(M^]T1X<=1P[';H^_#\1B$+^`3(.BPJ^D-XW,_=-_S,WGU(@!Q#\9M5"R[ MXCR7/ZQ`F6'H*TL^V4?2%!^)(UC%6OC*^^AG`=TAT)UF6]]!5^"6$-(PNX.0 MQH+1&.D(\A?\]CV\,L7*<*"(P#H],77=A$VJM]%=K?_K?P$6E`R==K/;.J[E MC^6OBMDM+O/3XXU\F7P0Y.!.19BAG4H]("/:3O'B<4W]$H_C$Z5G=5VQ M_`IY[PCN/?XF7$_!T32*$LSK+>L7)@PS&:U!R7LJRS`UT=\EEMET/Y"%JT,S6BZXQX(BE3%A%01T M0YS0B^[9&7UNV/["'E2=('="3FZ>2-VT:@+Z8O8N+@;FP:%6US=Q'[)N`!W, M`90@OLP>.L`)V57'^IFRH8&T#,`8GHMY(4*8G2L4`\U*)'$G)VCTW85Y(-PB MM$O"P,@9>B<@[$PET.)1>CNC=)/`ZQ+C/RX`#]-QVH<&*G:'66S`F!F)5-EH M;<)\9(;.L\CE6(_9N.%IG"`6Q(SH.M!2SI7NBHE).LN25G^FE'J,3:)TD2>C M8'=^E,88_('D7H?>*8_F.1;$AX&V2OP6M+MH1,4&O`E]/^3K*/>%[QWJ=2J2 M(LZ>^3WUN.)Z..2;&6RTB0&Y?/+$9RE[U+#&1B7_/&FMGYAVU2I^JM#],::X M%;B:&^%JOP-<92+B;@TWQ&5H_!]02P,$%`````@`3U$J0CYHI"G7`@``3PP` M`!T`'`!C:S`P,#$P,C`L``00E#@``!#D!``#55FUOVC`0_EZI_\%+OVQ2\TI?1`2M&.TF)!A2 M:+=J7RJ3'L2/;E/#O9X=D)5M+(VU,JX0`.\_=/<_=^>+.99Y2]`A"$LZZ MEN]X%@(6\X2P>=>ZG=B]27\PL"XO#@\Z[VP;75]][D5HS"AA@`;V")0@.;J+ M@8+`"M`-SCGCZ1KU,8V7%"OM%@T)>YAB"NN M5BL'DCD6-B^<.S%/763;5>"O&XHA.G,"3]L]/8GXDB4AVM[J"]A$3C2G$`6> M']CZ$YS?!%[8.@V]D^_;:)ZM!9DO%'H??]!@[]36%GY-ZS$:L-A!/4I19*`2 M12!!/$+BE)YH*1+IA#+9M;9TY5-!'2[FKO;=\[4;[?;;O%T@Y8DE(67(8^+U#0@B%Y$F)5=P6RS M9=+;\IU<)M:%"=@1G$($,U1P"-4Z@ZXE29I1L,J]A8!9UXH?/*W2"\Y/VVL1T),2 ME*S\4SP%VK4:F;C[Y=R$Y+]G]0G@&R8ZW%A$0-+I4DA(=99VL6Q@LV?6(\SP MO(BIN>S,Z(O(/3/\`JI)P9^'[9E;XS/SZDG9&B\]4:>*15PYU']_FRWU45PB M7+E,T\*;312DE?U,\/2EXU'%Y+NKC;A(0.BK@>^XO]R*S,7WYWU1+WX`4$L#!!0````(`$]1*D*Q'$66_PH` M`%'6```=`!P`8VLP,#`Q,#(W-3DV+3(P,3(Q,C(V7V1E9BYX;6Q55`D``^;9 M[E#FV>Y0=7@+``$$)0X```0Y`0``[5U;;^,V%GXOT/^@>E^Z0'W/I3:2%IXD MTP:;Q`,GW9G=EX"V:$<=70Q*3IQ_7U(68^M"BHHMA;0)%)T9ZY#\/EX.#P\/ MR;/?EXYM/$/D6YY[7FLW6C4#NA//M-S9>>VO^_K@_N+ZNO;[;S_^P]%S/>34NX=1RK0#G:MQ8[O"?OGT:W1B=1MLPGH)@WF\V7UY>&M"<`53WPKP;$\]I&O4Z+?>_ M*X1]XZ31:>%TZR\C;^&:?6/SIPL$05BRB2'UC4ZKW:GC_SJG#YU6OWO<;QW] M?U/:F[\B:_84&#]/_HV%6\=UG*(=H_J+<>U.&L;`MHT1$?6-$?0A>H9F(\K) MCD@:N#Y=_[RVP6LY1G;#0[,FSKO;I(*U'W\P5L+]I6_%$KQTJ7B[^>WVYG[R M!!U0MUP_`.XDEI!DEI6TW>OUFN'736F,PPS>Q#=A'3=7'U?2OM7WPS)OO$E8 MD0)T#*8$^5>=BM7)3Z0QNNW&TC=KOY$"SY!GPQ&<&B'B?O`ZA^K]VI MAYR01&D,?.>FP@U"7C\9TBBWFI'@WZC MOU_"`%@VJ;4T]F1FB4Z^D30""]"D(-ZDLJ)JD&BIXQ`JL.V:$66<`D=266[0 M-"VG&"B<+MA[5,WX10L[*`8NG3R:K!Z#K#<=T-=I2X3:5A"W8E& M42&8L:0E8GS"6:#)8@SK;S53#&E6!A%>\\U8([9:##-/2;6\2*](F5H>'\C6,":V5BL%_2>H8_-/C`!=MDN(_VV!&L[/!&-KGM?3W M9B$\;"6]^>7Q@OR]TSXYZE$5'4/!ERV&Z#TU1-N'6LQ8G<*,BLH4JP[=9:0^ MF+@N-S5$%8BNIE,X":QGF%-A<;GJ\&T,,_K38&GY'*2L%-5A_@*1Y6$U8>;4 M:5RN.GP/.%L.K/!S^6A6:O0"%XB`?8TU\_(_\#4#5K9<5?B8(S;VN2HT(SBS M?%P/;G`'G*PVS!0K']T-G`%[539C="8EML?$MLH1>OR"/'^.%=;"#Q=F%S;P M_0QD/,G*$#Z`L9ULRPR!DO&LUR.#,>D[DR`-*4.F%%LCO1QDVQJ,!5]I];3N M)9FJ(4NBG#I:.`Y`KX6JBI&D?/WP@`#QP]Z_.F//SM`.\>]O>-;6_`#%D>&E M`,TF6A447>!$J:?(Z+1JQAS/[0AK._Q+S5CX M&)\W)TQ`>?Q2JU06Q1RCBG#.JI&(8;O5:K0^BB._#;/F['0+LINN+6W3,698 MVE1QXC(T%)>1P`Q-F&6J6PG(97HPF/QB\WMR;#&'XG[03'5;.M34I<7MNQ&] M[@?2"QV]"3ILXR[%*.*;ZGXK+UY_8GL^-,]K`5K`]8^>&\!E<&5#TG_/:SZ< MD;](-D'DUD-ZC2Q!;]T5H8130H*.NBVS["5Q1.Q(>6(ISTC$[%AA9@D_=L3H M1&%&B95-Q.A7A1EE>](C8KT]()9P>:]G.EFIL5P.J95->H_F;673%6-VUHSO MH)6TJ\:+\"C7?3-PW06P/V,XJ9"'T/)YP(0^X:*^I_TZXDE+=D%]`N@"5VHP M<$T\JX?K!W<"0PQ_PE`=I<$+I#GD;3"5MIFJW9C@]L1X\`VS\V6+58KM#B`R M9)]Y`SPW1:6(OUK!TPB:T`DU=)YR*I"V&A9YG:':7E"@^4MI=^4VT(;COU=& M$K,=4Q)5(?J"+.*!Y[0D6[1LC$G#X`+,@PW_T@9$EF39VX[KR5]D3/#%R\;J MH6#JV9;W@`U%[QDB9E]D2E:-D%>5;%F]&2[A9CBSLVU^K`"'R#!ER.U#R,`6 MJ+@M&!?180RI2MHRC.%]B-8G*)@S)T.N6G1YYCA?O&RL`3G!-GME]O^D0$5X M1#091U:9,!H=ME*(GPY;T6$KTC24#EO182LZ;$7YL)7#"5K)7O%(,`RW))5V M0$HP!G?%*>W"E&`$;DDNZ?=7/%R%OW>@>.0*9[D=,3O=&V;)I;KB(3K<70;% MHW2*Q6?('[@CJF&2^^>4F:I!C$*[[Y2DPCJTR(8]I:NPWF'OQU'33.$.R]O* MH_04MF52/F'*2>'AQ_,K4WH*VS&Q34C*1V'UP=K,I-04MEI$(C+I"D_A]6M. M\`AE6&`16U&\L=#M;`=\:XY\`;F"B!X[.DA8@B#A':*II$6E"[?4(5J%PWS> M5EI8HP^QO;[^(2/@AR.L0W]2U?4AH3^%$.U$2Q0)^&%'N+$$=;C*OH>KT'M+ M61P5CE$_VW[^\)Z<^L]P*N5/V(3D61"N# M;25*X/7;#46!!;?T)Y]$N>8QE#<8590AAYS$YTI$V8DL?RE;22?*`FP9"T!* M\$-5C[Y60.^%Z;TPZ53+_MVLG?<<]A[NC^B]AL/<:XCZ.-N5RI"K%-W_($"M M=AZV2*IZ9%TA9-U#W/'0_F;M;];^9NUOUO[F#_8W9WEG^2;`(;EFA6HBVR:1 M8/59#K>N'$O/O=LGT6XL[<;2;BSY]*2R;JRD)1]R75]#<0D#8-DDT+?D5^&D M>%%-#6^;CD;6'D+%/(3Z73KMT2S!HZE?P=,G"#[N!,&6J,G;Q\/I`T2.Y8+L M2U/>D\D![A/HDQ';8-/O3.[G.Y,Q8_X.OI`;G3\!'YI#]\H/<&T%,.]H"2O5 MH9^#62\V!\]X>0S&EHU5W9O"AVYHWP[135[5QB7+1JA?LU&LOY<`1:YW^*]\UR3K-=\:VI!\SX`N%LS\&5)5H!0OQ:LXZAVB$C> MUX+U"[PZ-JY@;%R]=]KX5%V'%?%?X8P^(E_VP<%O>Z,7WOBS"C1T\+:SRNY@Y M;PNW57Z43^#R7)7?BMR.%#2X>+85' M78%;B(X4ME+XUP\=*:Q9WA5-2'DK/!?FOG=]I+"-)O#>]=&^S!/,^#-Z4Y_" M1!E''2)F)PK/&_D')2A)A74K]V3VB<+ZA7LL^T3A`9?:VXTXG?98.!.]NU1A'R8K%(E24UCI)R*^*".%K4AV9!8EI["6%SDX'='L*=PK M)^!__ M`%!+`P04````"`!/42I"0R46`&UL550)``/FV>Y0YMGN4'5X"P`!!"4.```$.0$``,V= M:V_;.!:&OP\P_X'K_=(!XMB2'2<.VAFD:;H;;%H7269G=H-%(%N,HZDL&92< M)O]^24JR=2$ERI(.C5Z0V(>'?*GGB.)5[W][7;GH!9/`\;T//>-XV$/86_BV MXRT_]'Z_ZU_<75Y?]W[[]>>?WO^MWT=7G_YQ<8MFGNMX&%WWO^"0.*_HSP5V M,;%"C.ZM5]_S5V_HQIIC-T`WCO=];@7X"+'_;>1[Z,^/MS?(/#80>@[#]?E@ M\./'CV-L+RW2][G?XX6_&J!^/\GSWU'ISM'DV!S2=+MO;OV-9Y^C]$>7!%LA MM48V+&V:=_S=-[(7:CP\Z=,41D;F M$;KV%L?HPG71+3,-T"T.,'G!]G'LR8U%(EJ77O"AE]+U.B?NL4^6`^I[-$@, M>S__A"+C\]?`R23X,4K,C<&?7V[N%L]X9?4=+P@M;Y%)R)R)DAK3Z73`OXVL M`^<\X%YN_`6O&H4"(JD%^ZV?F/791ZQZ1\;Q:V#W?F49OB>^BV_Q$^)E.`_? MUOA#+W!6:Q?WXL^>"7X2E\(E9,#2#SR\I!?09CF<]6DF40Y_CS_N(6;T^^WU MU@OWL`D&FZ"_M*QUY,1E$":N>H.H>/Q#QF6F@/@UQ)[-/$>?LO0E%16Y9W7, MG3*W_B+CT&6U[1.A9.XKP(OCI?\RL+$S8)BR'_J"+^2G39D^Q\F=M+/L:>P$.[JVYB^]I?'VD67W/78U:20'8KE,>57#& MDV&,/?>,F&NT]8T2YXA[1P_,/^(9_`\V,KK2;BIH?^#NA8*[#J9]Z&5Q5KNZ M.@[!CQ:Y?+9(>.'9WS!Y\LF*/3'PTTM"E:P5!)V$A"OX69?"POT1;'^@A\@+P%DXL@P&%0O!]7)X%I M`BO+H=PL&),X%!*/R$#?Q4C3=\BMN<9"3MDQ7BW$64F@&-/HCR5N[& M3^+GP\3);LB0N8$?C&@JQJPG!F)LH@RA9(A"*AN.\$_^RG+RCU4"`V"JHUR5 M$3!.`0?R-^L,:+<*/E(4=.1A[9E#PX6*^>GFC5."^XXGZ< MM0-&-Y.Y\O4?CG,$;]UHOB7O+<>L*0>2;2%(><2+RN%(O_9XAY\W"O%'%Z]. M_LE=)04P_9)B*(,S.LO%0F4^--_<65&;#0RX(,BPJJ,L'2%DMP(7* M-TPLZX>2/Z%*.6I+TJ' M8_V>NBVY*OQK8+)9GNH`F#F@66I]%-S%G.6^"(O3:1([F$E+<>;*$WCF*&8[R%=&5*7207RR&,C;#J3@(MB[U+GIN4Z

*'$=AV$@J!S2"_G#"YUMLX]6:#;Y7[2ZHD59'5)452/FA>BJ)+^8< M[;P?P@:#;M2+HNZH(%_O'H/Z$`LCL++*0&/Q/]@B0Z/J,L=6.N(KREI]0>&I M.)*8&S0T-(=+?3'BP/B1#8PC9'"!!Q$86:*$(9"J!GC81TH7::0/]I%Z5W52 M!OOH$&"O)481]A$7J&7TM`(I.>TC0-JK>N%:NM\U>ZKCT3C+MN;^]A[%S]!\ M(!WLTIXU?)>Z1E]:=R=Z_U[E^.0LB_)A]9J;"3/W$P9'O&K_6&O'N'1[D[;] M3/OOZQF?&!GD]6Y7:J:#$W[OAY:+RK?`Z^5,M(5TL"07UT0]1'W>-$8=8DBGVA&4,:KUN!H5RH/EAL30PFZ0LF4T3R= MU(I"OIX7S9Y0*J\#C,Q&]6'FZL//UX>_JX^CJ$+\R@HYB."51H%R-(LKMON5 M4#=X:;G1$QJYX@]Y>CMW+0ARA2(TG1W MKX(IOH67JNZ8]Z\X5.FVB\U@2!?FK=SI39984R^'<=Y(8SEF(N<@>_"E0,7` MRZN@8]IG\[^B?<32686"!0SC^6R5;WC)<.S6@;:YA282S*P$W?,+,DQB?(5* MH5=!2!NC$`LZKTJI@`)#H2CJ#\Y)ZY`]3).ZC?J$W#&: M>6CK&CYH6M9K%O4>;04?Q8K]E&+-(56#UR2\5&L,,M3*AH;T'E/;],S6Y/C- M`SJ0M@5)@C!![QQOX6Y8?Q65'U#[RR$$BW3LJ-O3:$M#(G7V^\6+Y5`5CNN$ M;]^>?2^_Q;_*&B8XRHJ@_-B2;)=+G^.?]H:X._`H:4N;6:U-;QNB0ET<&Y5U MHB=`_L#S.R?$%[9-(1"T(&K)M(9,MBSJH_4G%;%#_2+F&,6>#R6,]M=;'D_4 M;Y"2>Y"1)<:U/,0$]047:RH+S\O-P6.KR3KM23&F#F01>FL""T%T4(O1E=`K MQHN>1>FI`LP\OGUI1FZJFJ&L)7AT9+)7[QZ;Q<"@GJ(-=#.";C2W+WNK*D3# M5I4?J3J89D1(6#$2BC71=1#X)'SR7<>_WQ"/+864SG]++8&"0)*]\LTS6:.W M=8023]HFQMO09$HTZ9XIKP(K8;^L"J#9+WM*DMMJXK_^`11G\@C0^W#4BC1I M(!S`8U$E:+)H@'T@VK[61'!*>_%[(.XSF2H_'(R2_O4VN8;#V!L5/_>F&5U' MKTNY2)`M"@3#E(]6\Y<-"K81E%E"HYO-7KEYW]ZP=Q!S3]$+%K5L,&A)UNYM M>)5:0`$7$U5`72`<#'I^E%+958D,H!'GN:HO\QD5R"XY]0H(Y]H2XS M<+A;DF8*I+VS`F2A-::E]4)KR;=-6BM_XX6(4$N\BM9;!.Q6&:!G[-KHR2?( M.$&V]1:P`1H7!X%P2EF]2GAU;(+!)N@O+6N=NLP##R_I`XG=69VTI5%79]?W&"[])QJO270/>/78[JV]'B%5HLK;;QIST+;FX+KGN020!" M0FA.&@"1-WZ`O_A>X9TZA:_AJ-SFJ;Y$:)SBDB5'/+T6-/$*1*SW0-]1DEFO2?VLOHRN-OZP> M``+@%H<;XLFWPPELX*#/9JQ^FGH:]\B'SIUOS91L(1]$/G2-),EA29$LD`G& M<&FO+VL"37#=CI1Y4@189T=P;Q5Y>`^B5RC$I0#Q_CW$Q??A<&@,S=.3Z803 M:YCFA/.:_N;QCOX\'$W'T],O>#7')%?UY;8M$VS'KYP5G9A76A`E&/K3Z>D9 M_?,XXE,[BV>+/*&/ELM6-;%#2-8^"3<>6^G+]BUU0K@H1%L4QJ/U#FU]H(?( M"W!CTZ(B<]]+U740*\40B^;JRNBX:=K-!`K?.2NR@&F8\MDJW]&3E_1D9F>U MO'ZVH8K\'+.V@X]DC,3-D5`C!+;1/C]VLIB\:R`S!(2XF+OZ^LA1BN5X6R,_ MRDYC3Z$%3:9(DZX^0P5*:<@EJF%9EYZ,(;'30GK-$R1&R8OO"Z#K.A.CN1XA MY(=Q'D8Y46+B`<_"R.5<]>;!=@4K$ MB>,"_LV`=[3E"?'R33J6E#<`"H%LKNH[:^.5!$EZ;8-(#028&0&ZQX\D@"3\ M"F0"$:LR<5MB"\MQ@_<3F\,8XGASB?;N7Z)R3_CSQ]W;:N[G+U'Q>Z`7J&0R M59X!'\:/L'%J%"6'?W/*WJ4WU4K?-&UL550)``/FV>Y0YMGN4'5X"P`!!"4.```$.0$` M`.U=:W/B.!;]/E7S'SSLE]VJ`?-()P.5S!2=I&=3FS0IDMGNW2]=`@OPMA^4 M;!+X]RL9*^"'9`&Q&BQ534UWXVO[^%B^NKKW2+K\8^DZQ@M$@>U[5[56HUDS MH#?V+=N;7M7^>JKWGZ[O[FI__/[S3Y>_U.O&[U]'X$`_FJ0_UL&_NGKQ^&]T6ZT M#&,6AO.>:;Z^OC:@-06H[D=7;XQ]US3J=7KG?Z\Q]HSS1KN)S]L<&?H+S^H9 MVS]=([B^LX5!]8QVL]6NX__:%\_M9J_SH=<\^^^VM3]?(7LZ"XV_C_^!C9L? MZOB,5N)A?S7NO''#Z#N.,22F@3'$#XA>H-6(K^3$#VE@1KW@JK;U7,L16@9TXX;5#S5OFUX?[I_$,NJ!N>T$(O''B1'*QO%-; MW6[7C(ZNK0.[%T17N??'$34"``VF!?E7G9K5R4^$WDZKL0RLVN_DAI?(=^`0 M3HP(0R]%5+;#=N0-K\6\S!"=7M?'W)G[*9OOB0_>W(?HG\*Q;+[3#U9TW\9$;/47-(/?Y:WB7>!S\I`!-)KA9!%$S(C:FT.7, M]P(_M(/O0Q@ND/?M"=LT.]VS[L4#=$<0[8"9=Y5W@_J$;PQGOF-!]`G"X`:$ MX!#,0I=[-_"#.7$\V%O=+N?0"PZ'+WC!=WN`^#:W2T#..@1YT95VA!S?+OKP M`SAN3/T7$R&3@,=_1@]1;[;BCWZKO=_`$-@.82V+/7VQ5"/?.C4&.]_J1D@O MDD`-ER'T+&A1W.1J[^0'HKOC^SO^.'%+AWA/'Q4S94%[317^2YHK_-.W/KZU M16[_R0%3>CD'C*!S5-W?"PVYLVT>^79._MUOG9UW:U!(H^+:[(=J'(?I^ M:%^.FP7,(2K73!ZZ&]\%ML?!%1O(0W0[F?#"S\#->X>Y9N6CNX=3X*SOS?@ZTQ:'8V)'%PA] M>T1^,,<.:Q%$`>:U`X(@!QG/4AK"9S!RTN\RQZ!D/)NXJC\B;6<<9B'EV)02 M:V3#6G:LP0A<2^-ITTIR74.>13D<+5P7H-5.5#%.*=\_/"-` M(7G\#<]V/-]'26P`C>F%\%\SP7PR`Q%;F'/\9KRP/I[9SMLX8()\5RR"H/?W M"BVBV'0T6!UW_CI54U7@1"%,)/ M;G]3W=8BR$I!7N*-GTZE^4F$C>D^B>FE%6D\N>1D'%%,1ELU,KC?64Q*IY*D ML$*GEIR:_@C0-28U['L6CE"B`:`WAA&& M?\+(U63!"YRC,A2Q$C\@F ME2;.FV2;EHTQ'1A<@_E:D)R!R+(L6XZPZ?Q%O@F^>=E8?11.?,?VGW&@Z+]` MQ&R+3$O9"'E4LFVU2.8(13+,QK9]4`(.D<^485<%*=$!J+AO,&FBY4T9D@Z4 M-^V':#-#A-ES,NSDHBL*Q_GF96,-R:R[Z8K9_M,&DO"(>#*.[5:*I*1,\*MM/\H)"2;K*ZT"Q'G M(YLJ5]N-I&M3"LNT^+4QA15;G%14S,J%9B4G!::PK(U;^5-8V;:;WDJJV.WX MF&)H:2@K*@JLA50\E"!%^ZI=1$.4*D5]-%M/0(<+BGYD/!D#I4;1&#E32Z-\ M*.IN>+4\2HVB\7%"-$*Y4-35LH0KE!9%HV$1Y3[-T"B:NRH0*%)VI"2P),Z( M$5H?5>'U'O64D=.9,G)R8G:H!'#)L?%/,R19N&/*\@EN(U3!/!]W M!'KMNW/?PURW!N$,(DH.:17]((!A3B*F^!2=F]2YR?T6"^$VO%):&A<5]H]? M@(UO-\`^TG9'"^S\R?OAH10X1\$\[P/PP#3B@71,//Z8EB4C_`Q#D4:8;R9[ M<1-VII!M6C9&T?ZCO%Y#5QIT!O]D=X8YWB2PSI#K#+G.D.L,^4&IB<(01L%T MC2@G[."YTDE/47H$_` M%".'0,FIIIO6M6]=^]:U;UW[5KGV+;&0F9QUJD0%4U<#U:P&QFV<7>Q@V$E% M]Q\(4+-5A"VVDH^L(X2LHV)-4E>$=$5(5X1T14A7A-X_:.?WX`KF^H4(R8\L M*CVZVY>73I7%S;JDJDNJ.O&J$Z\Z\7IT3RVGK#9MU#KZ$'+S>'EK/2OMQL](.1(V#*CB8 M/$/DVA[(7\]JGXLH6-G2L^T.P:8W8*_F!NR)8/XS?"5;(WP$`;0&WFT08K9" M6#1=D766ZG,K-X/-_@L>'H.1[6!7]SC#HZB--'*OPQ)/W@U9^;XAV%7 M-KKT=CH96"D#27A$_!?'5JLYY0H6]Y,K'G&A6TM?M1!-"]&T$$T+T8Y'7J2% M:%J(=F)"-.FD%&_GIM#LBAW(6&13Y3]*WVJBWB MA&1KSI0911UK6D=%Z:CFZF*B=.@-XK,[-C,2@I0657=K%MA_0M5-S]DJ&L4W M)RY<`[-SIB8QXJM?=A3U-T6\G"DZ".!1HJB7V6&IRS-%HU_^&I=GBGKAO=3M ME#-%8QVV`H\2H^BX@2?\H]3HOIRCX:;+?2M*$F.J8_$D1TJ0HGT8 M=_6A`XE8NNFM0D9-MTHPE%:TPLN3:E M1=&..:6HIVPH.BIBJ^8I,8KVQ"(+XL04=17]D@IF"%)V%,UY0=7@+``$$)0X```0Y`0``[5A;3]M(%'ZOU/]PUD^MA*\AH%@)%05: M18*R2F"%]@5-[$D88<]XQV,(0OWO>\878B=.2-J';;5(D6*/O^_,('JA,F>`#P[4<`R@/1,CX;&!O^N_X=IPMGIU^,17/*( M<0I#\X(JR>9P$]"(2J(H7)&YX")^@G%P1V.R!Q.2TA`$AYO/HW/P+!?@3JG$ MM^W'QT>+AC,B39&;LP(1VV":E:N_BJ!\.+`\!WF+)R.1\="'^M")I$0A&D*, MP@?/<3T3?][AE>?XG:[O[/]=1XOD2;+9G8(/P4<$.UT3&6XCNST8\L""XRB" MD8:F,*(IE0\TM$I+:9XB8`%Y.C!J63UV+"%G-MIU[9N+\Z(4QOMW4&#]^41& MK,'0(Q6G8S.>*L(#6J-@1/<;&/JQKG3=R0JE#,OM]7IV_K2&#NX=C-;Q#KN] M@P8)DR1R.L6"I[E`NK*NYQW4N%QPGL7MT85*VNHIH3:"3$11R8(Z]77>"D=C M0O5"JQ>B:Q21+&IZ*\Q0$MLR]%1*^PF*`OKD?#C8%JC'TJ@DQ'6/T3'IYQQ=33 M$*W+./=I``L'QE;(EWBJB$(Z99SED3MZXIE0\>N7QSR$PAC4K,'S65&^]'O? M7K:V["C#U>>2'^77`8F"+,IMG.-]22X1FXB)Q)G/U0\P%Y&MYY6CE4@_K=V( MI?$'C"96%9)L`&Y5R7:^IE+9D%Z9@G,4QD4_P?,TC M,L$W//P.'\9Y@/"91'H]"^$R2814&=>2?L&P/[XIV*+@&,?HG8A"*K]0FIX2 M1=9(N17R%4T[**3^1(591/7EPB1HFV\*M2ATF>AV!WNDLWE">;I1HRVQKZBT MWU3I&#^Y),KG$+PX@,K#FV8MFI7%.9N3.(GH&K%>`[VB4K>I4FD-2G/P?"4) M3Q.!B?X?OEU55SJB4\@;3E^W=`,C9;H:1CE&9*#YFUM5.Y$"7W/%:+IH=DL# M*^QF;YR+OU2_,JK*PIVDTX%1[X'-JE^[1::%C6$%Q6Y$>SM9V`-M,-T#$D6& M_>M6H"GG#@5`8DL!3E_,_2;YYTW)CJDCIR7U?KOD#Q26Y+_LV:P MK09]N[X'P;OF'J6/)<`.$'CKIFG--AB*G?:Y"')#&RCZSJQXIA[2IP`=UYJG M81GB+A$L*KY;!!5OUPA:][+;^JX(VFEW]X17=MQ;^5UF:><]G;%[\#,AU`X+ M=@Q#\&\_%LFFPX%U,;1R](6Y(._NO'G0L)7ODH+_:SR7)PZY:_QZZ?GNN0?[ MO7KO4U\&;EH?01EX\K%Q/A M54X,,UD>&W`6X<*J%Y,"FV9(9BK33[]*D24#HZ`S--^>0'OSUDA@%?)+)5#L MEK?)8QWR/TRG;Q`Q0````(`$]1*D+1HE^R-2(``%;I```9 M`!@```````$```"D@0````!C:S`P,#$P,C&UL550% M``/FV>Y0=7@+``$$)0X```0Y`0``4$L!`AX#%`````@`3U$J0CYHI"G7`@`` M3PP``!T`&````````0```*2!B"(``&-K,#`P,3`R-S4Y-BTR,#$R,3(R-E]C M86PN>&UL550%``/FV>Y0=7@+``$$)0X```0Y`0``4$L!`AX#%`````@`3U$J M0K$<19;_"@``4=8``!T`&````````0```*2!MB4``&-K,#`P,3`R-S4Y-BTR M,#$R,3(R-E]D968N>&UL550%``/FV>Y0=7@+``$$)0X```0Y`0``4$L!`AX# M%`````@`3U$J0D,E%@'*#@``>;<``!T`&````````0```*2!##$``&-K,#`P M,3`R-S4Y-BTR,#$R,3(R-E]L86(N>&UL550%``/FV>Y0=7@+``$$)0X```0Y M`0``4$L!`AX#%`````@`3U$J0A`&IA6G"@``2.P``!T`&````````0```*2! M+4```&-K,#`P,3`R-S4Y-BTR,#$R,3(R-E]P&UL550%``/FV>Y0=7@+ M``$$)0X```0Y`0``4$L!`AX#%`````@`3U$J0MN#L%6-!```018``!D`&``` M`````0```*2!*TL``&-K,#`P,3`R-S4Y-BTR,#$R,3(R-BYX`L``00E#@``!#D!``!02P4&``````8`!@!*`@``"U`````` ` end EXCEL 10 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\Y,F$X.6%B9%\W.6)F7S1D,&%?.#@V,%\X93,W M9#`T.#`S-S4B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I% M>&-E;%=O6QE#I! M8W1I=F53:&5E=#X-"B`@/'@Z4')O=&5C=%-T#I0 M#I0#I0&UL M/CPA6V5N9&EF72TM/@T*/"]H96%D/@T*("`\8F]D>3X-"B`@(#QP/E1H:7,@ M<&%G92!S:&]U;&0@8F4@;W!E;F5D('=I=&@@36EC'1087)T7SDR83@Y86)D7S'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$'0^ M-#@U0E!/4SQS<&%N/CPO'0^1&5C(#(V+`T*"0DR,#$R M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$"!+97D\+W1D/@T*("`@("`@("`\=&0@8VQA'0^ M1&5C(#(V+`T*"0DR,#$R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$6UB;VP\+W1D/@T*("`@("`@("`\=&0@8VQA'0^ M3$]'3U@\'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2!&=6YD M("A0'!E M;G-E2!I9B!Y;W4@8G5Y(&%N9"`\8G(@ M+SYH;VQD('-H87)E2!F7,@;W(@;&5S'0^04Y.54%,($953D0@3U!% M4D%424Y'($584$5.4T53("AE>'!E;G-E6]U'!E;G-E'!E;G-E'!E;G-E'!E;G-E'!E;G-E2!A9W)E960@=&\@=V%I=F4@82`@ M<&]R=&EO;B!O'!E;G-E($-A<"(I+B!4:&4@17AP96YS92!#87`@=VEL;"!R96UA:6X@:6X@ M969F96-T('1H2`R-RP@,C`Q-"P@86YD M(&UA>2!B92!T97)M:6YA=&5D(&]N;'D@8GD@=&AE($)O87)D(&]F(%1R=7-T M965S("AT:&4@(D)O87)D(BD@;V8@=&AE(%1R=7-T+B!4:&4@061V:7-E2!W97)E('=A:79E9"!O'!E;G-E($-A<"X\+W1D/@T*("`@("`@("`@("`@/"]T M&%M<&QE(&ES(&EN=&5N9&5D('1O(&AE M;'`@>6]U(&-O;7!A6]U/&)R M("\^:6YV97-T("0Q,"PP,#`@:6X@=&AE($9U;F0@9F]R('1H92!T:6UE('!E M6]U'!E;G-E($-A<"!O;FQY(&EN('1H M92!F:7)S=#QB&%M<&QE#0H-"@T*#0HH55-$("0I/&)R/CPO&%M<&QE+"!W:71H(%)E M9&5M<'1I;VXL(#,@665A2!&=6YD($EN=F5S=&]R($-L87-S/"]T9#X-"B`@("`@("`@ M("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ,C(\'0^4')I;F-I<&%L($EN=F5S=&UE;G0@4W1R871E9VEE2!S96-U2!S96-U2!296-E:7!T2`\8G(@+SY296-E:7!T2!A;'-O(#QB&5D+6EN8V]M92!S96-U MF%T:6]N2!I;F-L=61E M+"`\8G(@+SYW:71H(')EF5S(&9I=F4@ M:V5Y(&5L96UE;G1S(&EN(&ET&EB:6QI='DL(&9O8W5S/&)R("\^86YD(&QO M;F2!S96-U2!O8V-U2!A2=S('-H87)E('!R:6-E M*2P@2!F:7AE9"UI;F-O;64@:6YV97-T;65N M=',@/&)R("\^=VET:"!F879O2!F86-T;W)S+"!I M;F-L=61I;F<@>6EE;&0M=&\M;6%T=7)I='DL(&-R961I="!Q=6%L:71Y+"`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`[ M)B-X03`[/&)R("\^)B-X03`[)B-X03`[)B-X03`[97AP;W-U2!2:7-K+B8C>$$P.R8C>$$P.U-M86QL+2!A;F0@;65D:75M+7-I>F5D(&-O M;7!A;FEE$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.SQB$$P.R8C>$$P.R8C>$$P.V]F=&5N(&AA=F4@;&5S$$P.R8C>$$P.R8C>$$P.V%N9"!V;VQA=&EL92!T:&%N('1H M92!M87)K970@;6]V96UE;G1S(&]F(&5Q=6ET>2!S96-U$$P.R8C>$$P.SQB$$P.R8C>$$P.R8C>$$P M.V5S=&%B;&ES:&5D(&-O;7!A;FEEF5D)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[/&)R("\^)B-X03`[ M)B-X03`[)B-X03`[8V]M<&%N:65S(&EN('!A$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.SQB6QE(%)I6QE('1H870@9F%V;W)S)B-X03`[)B-X03`[)B-X03`[)B-X M03`[/&)R("\^)B-X03`[)B-X03`[)B-X03`[2!L;W<@=F%L M=6%T:6]N6QE(&ES(&]U="!O9B!F M879O$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.SQB'!E;G-E M2!R969L96-T$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.SQB$$P.R8C>$$P.R8C>$$P.VAO;&1S+B!4:&4@1G5N9"!A;'-O('=I;&P@:6YC M=7(@8G)O:V5R86=E(&-O$(W.R8C>$$P.R8C M>$$P.T9I>&5D+4EN8V]M92!396-U$$P.R8C>$$P.U!R97!A>6UE;G0@86YD($5X=&5N M2!B M92!P86ED(&]F9B`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`\8G(@+SXF M(WA!,#LF(WA!,#LF(WA!,#MT:&4@:7-S=65R+B8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.SQB M$$P.R8C>$$P.R8C>$$P.V]F(&)A;FL@9&5B M="!M87D@8W)E871E('-U8G-T86YT:6%L(')I$$P.R8C>$$P.R8C>$$P M.W1H92!R:7-K('1H870@=&AE(')A=&4@;V8@:6YF;&%T:6]N('=I;&P@8F4@ M;&]W97(@=&AA;B!E>'!E8W1E9"!O"!I;G1E;F1E9"!T;R!M96%S=7)E M('1H92!R871E(&]F(&EN9FQA=&EO;B!W:6QL(&)E(&%C8W5R871E;'D@/&)R M("\^)B-X03`[)B-X03`[)B-X03`[;65A7!I8V%L;'D@:7,@/&)R("\^)B-X03`[)B-X03`[)B-X03`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`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[/&)R("\^)B-X03`[ M)B-X03`[)B-X03`[$$P M.R8C>$$P.R8C>$$P.R8C>$$P.SQB$$P.R8C>$$P.R8C>$$P.W-U M8V@@:6YV97-T;65N=',N)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M/&)R("\^(#QB$(W.R8C>$$P.R8C>$$P.TYE=R!&=6YD(%)I2!V:6%B;&4@'0^/'1T/E=H96X@=&AE($9U;F0@ M:&%S(&)E96X@:6X@;W!E65A M3X-"CPO:'1M M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Y,F$X.6%B9%\W.6)F7S1D,&%?.#@V M,%\X93,W9#`T.#`S-S4-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO M.3)A.#EA8F1?-SEB9E\T9#!A7S@X-C!?.&4S-V0P-#@P,S'0O:'1M;#L@8VAA M'0^1&5C(#,Q+`T*"0DR,#$R/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S2!&=6YD/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^#0H@ M("`@("`@(#PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0@0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$ M=&@^51E>'1";&]C:SPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'1T/E1H92!38VAA'!E;G-E2&5A9&EN M9SPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^1F5E2!I9B!Y;W4@8G5Y(&%N9"`\8G(@+SYH;VQD('-H87)E2!F'!E;G-E M'0^04Y.54%,($953D0@3U!%4D%424Y'($584$5.4T53 M("AE>'!E;G-E6]U'0^4&]R=&9O;&EO(%1U'0@0FQO8VM=/"]T M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^7,@86YD('-E;&QS/&)R("\^'!E M;G-E'0^3W1H97(@97AP96YS97,@87)E(&)A65A M'!E;G-E17AA;7!L94AE861I;F<\+W1D/@T*("`@("`@("`\=&0@8VQA M'0@0FQO8VM=/"]T M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^65A2!B M92!H:6=H97(@;W(@;&]W97(L(&)A'0^4')I;F-I<&%L($EN=F5S=&UE M;G0@4W1R871E9VEEF%T M:6]N&-L=61I;F<@9&5P M;W-I=&%R>2!R96-E:7!T&5D+6EN8V]M92!S96-U2!I;G9E&-H86YG92UT2!E;&5M96YT2!S M8W)E96YI;F<@<')O8V5S2!E<75I='D@F%T:6]N6]U6]U28C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.SQB$$P.R8C>$$P.R8C>$$P.V1E8VQI;F4@9F]R(&$@;G5M8F5R M(&]F(')E87-O;G,N(%1H97-E(')E87-O;G,@;6%Y(&EN8VQU9&4@8VAA;F=I M;F<@96-O;F]M:6,@/&)R("\^)B-X03`[)B-X03`[)B-X03`[8VER8W5M$$P.R8C>$$P.R8C>$$P.R8C>$$P.SQB M$$P.R8C>$$P.R8C>$$P.VES$(W.R8C>$$P.R8C>$$P.TUA;F%G96UE;G0@4FES:RX@5&AE($9U;F0@:7,@ M$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.SQB$$P.R8C>$$P M.R8C>$$P.V%C=&EV96QY(&UA;F%G960@<&]R=&9O;&EO+B!4:&4@061V:7-E M$(W.R8C>$$P.R8C>$$P M.TYO;BU$:79E2!!8W0@;V8@,3DT M,"P@87,@86UE;F1E9"`H=&AE("(Q.30P($%C="(I+B!4;R!T:&4@97AT96YT M('1H870@=&AE($9U;F0\8G(@+SXF(WA!,#LF(WA!,#LF(WA!,#MI;G9E2!O9B!T:&]S92!S96-U2!I;7!A:7)E9"XF(WA!,#LF(WA!,#LF M(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA! M,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF M(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA! M,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF M(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA! M,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF M(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA! M,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF M(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA! M,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF M(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA! M,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF M(WA!,#LF(WA!,#L\8G(@+SX@/&)R("\^)B-X0C<[)B-X03`[)B-X03`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`H:2YE+BP@:&]M96]W;F5R$$P.R8C>$$P.R8C>$$P.R8C>$$P.SQB M$$P.R8C>$$P.R8C>$$P.W=H;W-E(&UO2!B M92!A8FQE)B-X03`[)B-X03`[/&)R("\^)B-X03`[)B-X03`[)B-X03`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`\8G(@+SXF(WA!,#LF(WA!,#LF(WA!,#MM96%S=7)E M('1H92!R871E(&]F(&EN9FQA=&EO;B!A;F0@=&AE('-E8W5R:71I97,@=VEL M;"!N;W0@=V]R:R!A$$P.R8C>$$P M.U)U;&4@,30T02!396-U2!I2!O9B!T:&5S92!S96-U2!B96-O;64@/&)R M("\^)B-X03`[)B-X03`[)B-X03`[:6UP86ER960L(&UA:VEN9R!I="!M;W)E M(&1I9F9I8W5L="!F;W(@=&AE($9U;F0@=&\@$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P M.R8C>$$P.SQB2!R:7-K2!W:&5N('1H96ER(&-O;G9E$$P.R8C>$$P.R8C>$$P M.R8C>$$P.R8C>$$P.R8C>$$P.SQB$$P.R8C>$$P.R8C>$$P.VEN M=&5R97-T(&%N9"!P2!D M96-L:6YE)B-X03`[)B-X03`[)B-X03`[/&)R("\^)B-X03`[)B-X03`[)B-X M03`[;W9E'1E;F1E9"!P97)I;V1S(&]F('1I;64N)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[ M)B-X03`[)B-X03`[)B-X03`[/&)R("\^(#QB$(W.R8C>$$P.R8C M>$$P.U-P96-I86P@4VET=6%T:6]N2!F86ER('9A;'5E('!R;V-E9'5R97,@=&\@=F%L=64@:71S M(&AO;&1I;F=S(&EN)B-X03`[)B-X03`[)B-X03`[)B-X03`[/&)R("\^)B-X M03`[)B-X03`[)B-X03`['1=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^ M3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^3&]S:6YG(&%L;"!O6]U'0@0FQO8VM=/"]T9#X-"B`@ M("`@("`@/'1D(&-L87-S/3-$=&@^2!C86QL:6YG('1H92!& M=6YD('1O;&PM9G)E92`\8G(@+SYA="`X-C8M-5-#2$%21BX\+W1T/CQS<&%N M/CPO65A'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S7,@;W(@;&5S'!E;G-E'!E;G-E'!E;G-E'!E;G-E M($5X86UP;&4L('=I=&@@4F5D96UP=&EO;BP@,2!996%R/"]T9#X-"B`@("`@ M("`@/'1D(&-L87-S/3-$=&@^'!E;G-E2!A9W)E960@=&\@=V%I=F4@82`@<&]R=&EO;B!O'!E;G-E($-A<"(I+B!4:&4@17AP96YS M92!#87`@=VEL;"!R96UA:6X@:6X@969F96-T('1H2`R-RP@,C`Q-"P@86YD(&UA>2!B92!T97)M:6YA=&5D(&]N;'D@ M8GD@=&AE($)O87)D(&]F(%1R=7-T965S("AT:&4@(D)O87)D(BD@;V8@=&AE M(%1R=7-T+B!4:&4@061V:7-E2!W97)E M('=A:79E9"!O'!E;G-E($-A<"X\ M+W1D/@T*("`@("`@/"]T7!E.B!T97AT+VAT;6P[ M(&-H87)S970](G5S+6%S8VEI(@T*#0H\>&UL('AM;&YS.F\],T0B=7)N.G-C M:&5M87,M;6EC&UL/@T*+2TM+2TM/5].97AT4&%R=%\Y,F$X.6%B9%\W.6)F7S1D,&%? 5.#@V,%\X93,W9#`T.#`S-S4M+0T* ` end XML 11 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Scharf Balanced Opportunity Fund (Prospectus Summary) | Scharf Balanced Opportunity Fund
SUMMARY SECTION
Investment Objective
The Scharf Balanced Opportunity Fund (the "Fund") seeks long-term capital
appreciation and 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.
SHAREHOLDER FEES (fees paid directly from your investment)
Shareholder Fees
Scharf Balanced Opportunity Fund
Investor Class
Redemption Fee (as a percentage of amount redeemed on shares held for 15 days or less) 2.00%
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Scharf Balanced Opportunity Fund
Investor Class
Management Fees 0.99%
Shareholder Servicing Plan Fee 0.10%
Other Expenses (including Shareholder Servicing Plan Fee) [1] 1.58%
Total Annual Fund Operating Expenses 2.57%
Less: Fee Waiver and Expense Reimbursement (1.37%)
Net Annual Fund Operating Expenses [2] 1.20%
[1] Other expenses are based on estimated amounts for the current fiscal year.
[2] Scharf Investments, LLC (the "Adviser") has contractually agreed to waive a portion or all of its management fees and pay Fund expenses in order to limit the Net Annual Fund Operating Expenses (excluding acquired fund fees and expenses ("AFFE"), interest, taxes and extraordinary expenses) to 1.20% of average daily net assets of the Fund (the "Expense Cap"). The Expense Cap will remain in effect through at least January 27, 2014, and may be terminated only by the Board of Trustees (the "Board") of the Trust. The Adviser may request recoupment of previously waived fees and expenses from the Fund for three years from the date they were waived or paid, subject to the Expense Cap.
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 Cap only in the first
year). Although your actual costs may be higher or lower, based on these
assumptions, your costs would be:
Expense Example (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Scharf Balanced Opportunity Fund Investor Class
122 669
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
The Fund invests in a mix of equity securities and fixed-income securities.
Under normal market conditions, the Fund allocates between 50% and 75% of
its total assets to equity securities. Equity securities in which the Fund
may invest include, but are not limited to, common and preferred stock of
companies of all market capitalizations, rights and warrants. The Fund may
invest up to 50% of its total assets in securities of foreign issuers
(excluding depositary receipts), including up to 25% of its total assets
in issuers in emerging markets. The Fund may invest without limit in depositary
receipts, such as American Depositary Receipts ("ADRs"), European Depositary
Receipts ("EDRs") and Global Depositary Receipts ("GDRs"). The Fund may also
invest up to 30% of its total assets in other investment companies, including
exchange-traded fundsx ("ETFs").

Under normal market conditions, the Fund allocates between 25% and 50% of its
total assets to fixed-income securities. Fixed-income securities in which the
Fund may invest include, but are not limited to, those of domestic and foreign
governments, government agencies, inflation-protected securities, asset-backed
securities, exchange-traded notes ("ETNs"), money-market instruments, convertible
securities, bank debt, limited partnerships, municipalities and companies across
a wide range of industries, market capitalizations and maturities, and may include,
with respect to up to 30% of the Fund's total assets, those that are rated below
investment grade (i.e., "junk bonds"). The Fund may also invest up to 20% of its
total assets in Rule 144A securities.

In general, the Adviser utilizes five key elements in its equity investment
philosophy: low valuation, discount to fair value, investment flexibility, focus
and long-term perspective. Through a proprietary screening process, the Adviser
seeks to identify equity securities with low valuations combined with growing
earnings, cash flow and/or book value which the Adviser describes as "growth
stocks at value prices." The Fund may also invest in "special situations,"
which may occur when the securities of a company are affected by circumstances,
including, but not limited to, hidden assets (i.e., assets that may be
undervalued on a company's balance sheet or otherwise difficult to value
and therefore not properly reflected in the company's share price), spinoffs,
liquidations, reorganizations, recapitalizations, mergers, management changes
and technological changes. The Adviser seeks to identify fixed-income investments
with favorable risk-reward characteristics. In screening for suitable investments,
the Adviser considers many factors, including yield-to-maturity, credit quality,
liquidity, call risk, duration risk, and capital appreciation potential.

When selling securities, the Adviser considers the same factors it uses in
evaluating a security for purchase and generally sells securities that it
believes no longer have sufficient upside potential.

The Fund is non-diversified, which means that it can invest a greater percentage
of its assets in any one issuer than a diversified fund. Investing in fewer
issuers makes a fund more susceptible to financial, economic or market events
impacting such issuers and may cause the Fund's share price to be more volatile
than the share price of a diversified fund.
Principal Risks of Investing in the Fund
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 prices of the securities in which the Fund invests may      
   decline for a number of reasons. These reasons may include changing economic
   circumstances and/or perceptions about the creditworthiness of individual    
   issuers.                                                                                                                                       

·  Management Risk. The Fund is subject to management risk because it is an     
   actively managed portfolio. The Adviser's management practices and investment
   strategies might not produce the desired results. The Adviser may be         
   incorrect in its assessment of a stock's appreciation potential.                                                                                            

·  Non-Diversification Risk. The Fund is non-diversified under the Investment   
   Company Act of 1940, as amended (the "1940 Act"). To the extent that the Fund
   invests its assets in fewer securities, the Fund is subject to greater risk  
   of loss if any of those securities become permanently impaired.                                                                                              

·  Foreign and Emerging Market Securities Risk. The risks of investing in the   
   securities of foreign issuers can include fluctuations in foreign currencies,
   foreign currency exchange controls, political and economic instability,      
   differences in securities regulation and trading, and foreign taxation       
   issues. These risks are greater in emerging markets.                         

·  Foreign Currency Risk. Currency movements may negatively impact value even   
   when there is no change in value of the security in the issuer's home        
   country. Currency management strategies may substantially change the Fund's  
   exposure to currency exchange rates and could result in losses to the Fund if
   currencies do not perform as the Adviser expects.                                                                                                              

·  Small- and Medium-Sized Company Risk.  Small- and medium-sized companies     
   often have less predictable earnings, more limited product lines, markets,   
   distribution channels or financial resources and the management of such      
   companies may be dependent upon one or few key people. The market movements  
   of equity securities of small- and medium-sized companies may be more abrupt
   and volatile than the market movements of equity securities of larger, more  
   established companies or the stock market in general and small-sized         
   companies in particular, are generally less liquid than the equity securities
   of larger companies.                                                                                                                                         

·  Investment Style Risk. The Adviser follows an investing style that favors    
   relatively low valuations. At times when this style is out of favor, the Fund
   may underperform funds that use different investing styles.                                                                                                  

·  Investment Company Risk. When the Fund invests in an ETF or mutual fund, it  
   will bear additional expenses based on its pro rata share of the ETF's or    
   mutual fund's operating expenses, including the potential duplication of     
   management fees. The risk of owning an ETF or mutual fund generally reflects
   the risks of owning the underlying securities the ETF or mutual fund         
   holds. The Fund also will incur brokerage costs when it purchases ETFs.                                                                                      

·  Fixed-Income Securities Risk. The following risks are associated with the    
   Fund's investment in fixed-income securities.                                                                                                                  

.  Prepayment and Extension Risk. The risk that the securities may be paid off
   earlier or later than expected. Either situation could cause securities to  
   pay lower-than-market rates of interest, which could hurt the Fund's yield  
   or share price.                                                                                                                                              
  
.  Interest Rate Risk. Interest rate risk refers to the risk that bond prices  
   generally fall as interest rates rise; conversely, bond prices generally    
   rise as interest rates fall.                                                                                                                                 

.  Credit Risk. Credit risk is the risk of loss on an investment due to the    
   deterioration of an issuer's financial health. Such a deterioration of      
   financial health may result in a reduction of the credit rating of the      
   issuer's securities and may lead to the issuer's inability to honor its     
   contractual obligations including making timely payment of interest and     
   principal.                                                                                                                                                    

.  High-Yield Securities Risk. Fixed-income securities that are rated below    
   investment grade (i.e., "junk bonds") are subject to additional risk factors
   due to the speculative nature of these securities, such as increased        
   possibility of default liquidation of the security, and changes in value    
   based on public perception of the issuer.                                                                                                                   

.  Municipal Securities Risk. Municipal securities rely on the creditworthiness
   or revenue production of their issuers or auxiliary credit enhancement      
   features. Municipal securities may be difficult to obtain because of limited
   supply, which may increase the cost of such securities and effectively      
   reduce a portfolio's yield. Typically, less information is available about a
   municipal issuer than is available for other types of securities issuers.                                                                                   

.  Asset-Backed Securities Risk.  Asset-Backed Securities Risk includes Market
   Risk, Interest Rate Risk, Credit Risk, Prepayment Risk (i.e., homeowners    
   whose mortgages collateralize the securities held by the Funds may be able  
   to prepay principal due on these mortgages, which could cause the Fund to   
   reinvest the proceeds at lower yields).                                                                                                                     

.  Exchange-Traded Note Risk. The value of an ETN may be influenced by time to
   maturity, level of supply and demand for the ETN, volatility and lack of    
   liquidity in the underlying securities' markets, changes in the applicable  
   interest rates, changes in the issuer's credit rating and economic, legal,  
   political or geographic events that affect the referenced index. In         
   addition, the notes issued by ETNs and held by a fund are unsecured debt of
   the issuer.                                                                                                                                                 

.  Bank Debt Risk. The Fund's investments in secured and unsecured assignments
   of bank debt may create substantial risk. In making investments in such     
   debt, which are loans 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.                                                                                                             

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

.  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.                                                                                   

.  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.                                                                                                                    

·  Special Situations Risk. There is a risk that the special situation (i.e.,   
   spin-off, liquidation, merger, etc.) might not occur, which could have a     
   negative impact on the price of the issuer's securities and fail to produce  
   gains or produce a loss for the Fund. In addition, investments in special    
   situation companies may be illiquid and difficult to value, which will       
   require the Fund to employ fair value procedures to value its holdings in    
   such investments.                                                                                                                                            

·  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.
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.scharffunds.com or by calling the Fund toll-free
at 866-5SCHARF.

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
Scharf Balanced Opportunity Fund (Prospectus Summary) | Scharf Balanced Opportunity 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 Scharf Balanced Opportunity Fund (the "Fund") seeks long-term capital
appreciation and 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.
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 Cap 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 of the Fund
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests in a mix of equity securities and fixed-income securities.
Under normal market conditions, the Fund allocates between 50% and 75% of
its total assets to equity securities. Equity securities in which the Fund
may invest include, but are not limited to, common and preferred stock of
companies of all market capitalizations, rights and warrants. The Fund may
invest up to 50% of its total assets in securities of foreign issuers
(excluding depositary receipts), including up to 25% of its total assets
in issuers in emerging markets. The Fund may invest without limit in depositary
receipts, such as American Depositary Receipts ("ADRs"), European Depositary
Receipts ("EDRs") and Global Depositary Receipts ("GDRs"). The Fund may also
invest up to 30% of its total assets in other investment companies, including
exchange-traded fundsx ("ETFs").

Under normal market conditions, the Fund allocates between 25% and 50% of its
total assets to fixed-income securities. Fixed-income securities in which the
Fund may invest include, but are not limited to, those of domestic and foreign
governments, government agencies, inflation-protected securities, asset-backed
securities, exchange-traded notes ("ETNs"), money-market instruments, convertible
securities, bank debt, limited partnerships, municipalities and companies across
a wide range of industries, market capitalizations and maturities, and may include,
with respect to up to 30% of the Fund's total assets, those that are rated below
investment grade (i.e., "junk bonds"). The Fund may also invest up to 20% of its
total assets in Rule 144A securities.

In general, the Adviser utilizes five key elements in its equity investment
philosophy: low valuation, discount to fair value, investment flexibility, focus
and long-term perspective. Through a proprietary screening process, the Adviser
seeks to identify equity securities with low valuations combined with growing
earnings, cash flow and/or book value which the Adviser describes as "growth
stocks at value prices." The Fund may also invest in "special situations,"
which may occur when the securities of a company are affected by circumstances,
including, but not limited to, hidden assets (i.e., assets that may be
undervalued on a company's balance sheet or otherwise difficult to value
and therefore not properly reflected in the company's share price), spinoffs,
liquidations, reorganizations, recapitalizations, mergers, management changes
and technological changes. The Adviser seeks to identify fixed-income investments
with favorable risk-reward characteristics. In screening for suitable investments,
the Adviser considers many factors, including yield-to-maturity, credit quality,
liquidity, call risk, duration risk, and capital appreciation potential.

When selling securities, the Adviser considers the same factors it uses in
evaluating a security for purchase and generally sells securities that it
believes no longer have sufficient upside potential.

The Fund is non-diversified, which means that it can invest a greater percentage
of its assets in any one issuer than a diversified fund. Investing in fewer
issuers makes a fund more susceptible to financial, economic or market events
impacting such issuers and may cause the Fund's share price to be more volatile
than the share price of a diversified fund.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
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 prices of the securities in which the Fund invests may      
   decline for a number of reasons. These reasons may include changing economic
   circumstances and/or perceptions about the creditworthiness of individual    
   issuers.                                                                                                                                       

·  Management Risk. The Fund is subject to management risk because it is an     
   actively managed portfolio. The Adviser's management practices and investment
   strategies might not produce the desired results. The Adviser may be         
   incorrect in its assessment of a stock's appreciation potential.                                                                                            

·  Non-Diversification Risk. The Fund is non-diversified under the Investment   
   Company Act of 1940, as amended (the "1940 Act"). To the extent that the Fund
   invests its assets in fewer securities, the Fund is subject to greater risk  
   of loss if any of those securities become permanently impaired.                                                                                              

·  Foreign and Emerging Market Securities Risk. The risks of investing in the   
   securities of foreign issuers can include fluctuations in foreign currencies,
   foreign currency exchange controls, political and economic instability,      
   differences in securities regulation and trading, and foreign taxation       
   issues. These risks are greater in emerging markets.                         

·  Foreign Currency Risk. Currency movements may negatively impact value even   
   when there is no change in value of the security in the issuer's home        
   country. Currency management strategies may substantially change the Fund's  
   exposure to currency exchange rates and could result in losses to the Fund if
   currencies do not perform as the Adviser expects.                                                                                                              

·  Small- and Medium-Sized Company Risk.  Small- and medium-sized companies     
   often have less predictable earnings, more limited product lines, markets,   
   distribution channels or financial resources and the management of such      
   companies may be dependent upon one or few key people. The market movements  
   of equity securities of small- and medium-sized companies may be more abrupt
   and volatile than the market movements of equity securities of larger, more  
   established companies or the stock market in general and small-sized         
   companies in particular, are generally less liquid than the equity securities
   of larger companies.                                                                                                                                         

·  Investment Style Risk. The Adviser follows an investing style that favors    
   relatively low valuations. At times when this style is out of favor, the Fund
   may underperform funds that use different investing styles.                                                                                                  

·  Investment Company Risk. When the Fund invests in an ETF or mutual fund, it  
   will bear additional expenses based on its pro rata share of the ETF's or    
   mutual fund's operating expenses, including the potential duplication of     
   management fees. The risk of owning an ETF or mutual fund generally reflects
   the risks of owning the underlying securities the ETF or mutual fund         
   holds. The Fund also will incur brokerage costs when it purchases ETFs.                                                                                      

·  Fixed-Income Securities Risk. The following risks are associated with the    
   Fund's investment in fixed-income securities.                                                                                                                  

.  Prepayment and Extension Risk. The risk that the securities may be paid off
   earlier or later than expected. Either situation could cause securities to  
   pay lower-than-market rates of interest, which could hurt the Fund's yield  
   or share price.                                                                                                                                              
  
.  Interest Rate Risk. Interest rate risk refers to the risk that bond prices  
   generally fall as interest rates rise; conversely, bond prices generally    
   rise as interest rates fall.                                                                                                                                 

.  Credit Risk. Credit risk is the risk of loss on an investment due to the    
   deterioration of an issuer's financial health. Such a deterioration of      
   financial health may result in a reduction of the credit rating of the      
   issuer's securities and may lead to the issuer's inability to honor its     
   contractual obligations including making timely payment of interest and     
   principal.                                                                                                                                                    

.  High-Yield Securities Risk. Fixed-income securities that are rated below    
   investment grade (i.e., "junk bonds") are subject to additional risk factors
   due to the speculative nature of these securities, such as increased        
   possibility of default liquidation of the security, and changes in value    
   based on public perception of the issuer.                                                                                                                   

.  Municipal Securities Risk. Municipal securities rely on the creditworthiness
   or revenue production of their issuers or auxiliary credit enhancement      
   features. Municipal securities may be difficult to obtain because of limited
   supply, which may increase the cost of such securities and effectively      
   reduce a portfolio's yield. Typically, less information is available about a
   municipal issuer than is available for other types of securities issuers.                                                                                   

.  Asset-Backed Securities Risk.  Asset-Backed Securities Risk includes Market
   Risk, Interest Rate Risk, Credit Risk, Prepayment Risk (i.e., homeowners    
   whose mortgages collateralize the securities held by the Funds may be able  
   to prepay principal due on these mortgages, which could cause the Fund to   
   reinvest the proceeds at lower yields).                                                                                                                     

.  Exchange-Traded Note Risk. The value of an ETN may be influenced by time to
   maturity, level of supply and demand for the ETN, volatility and lack of    
   liquidity in the underlying securities' markets, changes in the applicable  
   interest rates, changes in the issuer's credit rating and economic, legal,  
   political or geographic events that affect the referenced index. In         
   addition, the notes issued by ETNs and held by a fund are unsecured debt of
   the issuer.                                                                                                                                                 

.  Bank Debt Risk. The Fund's investments in secured and unsecured assignments
   of bank debt may create substantial risk. In making investments in such     
   debt, which are loans 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.                                                                                                             

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

.  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.                                                                                   

.  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.                                                                                                                    

·  Special Situations Risk. There is a risk that the special situation (i.e.,   
   spin-off, liquidation, merger, etc.) might not occur, which could have a     
   negative impact on the price of the issuer's securities and fail to produce  
   gains or produce a loss for the Fund. In addition, investments in special    
   situation companies may be illiquid and difficult to value, which will       
   require the Fund to employ fair value procedures to value its holdings in    
   such investments.                                                                                                                                            

·  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.
Risk Lose Money [Text] rr_RiskLoseMoney Losing all or a portion of your investment is a risk of investing in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus The Fund is non-diversified under the Investment Company Act of 1940, as amended (the "1940 Act"). To the extent that the Fund invests its assets in fewer securities, the Fund is subject to greater risk of loss if any of those securities become permanently impaired.
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.scharffunds.com or by calling the Fund toll-free
at 866-5SCHARF.
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 866-5SCHARF
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.scharffunds.com
Scharf Balanced Opportunity Fund (Prospectus Summary) | Scharf Balanced Opportunity Fund | Investor Class
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Redemption Fee (as a percentage of amount redeemed on shares held for 15 days or less) rr_RedemptionFeeOverRedemption (2.00%)
Management Fees rr_ManagementFeesOverAssets 0.99%
Shareholder Servicing Plan Fee rr_Component1OtherExpensesOverAssets 0.10%
Other Expenses (including Shareholder Servicing Plan Fee) rr_OtherExpensesOverAssets 1.58% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.57%
Less: Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.37%)
Net Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.20% [2]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2014-01-27
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 122
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 669
[1] Other expenses are based on estimated amounts for the current fiscal year.
[2] Scharf Investments, LLC (the "Adviser") has contractually agreed to waive a portion or all of its management fees and pay Fund expenses in order to limit the Net Annual Fund Operating Expenses (excluding acquired fund fees and expenses ("AFFE"), interest, taxes and extraordinary expenses) to 1.20% of average daily net assets of the Fund (the "Expense Cap"). The Expense Cap will remain in effect through at least January 27, 2014, and may be terminated only by the Board of Trustees (the "Board") of the Trust. The Adviser may request recoupment of previously waived fees and expenses from the Fund for three years from the date they were waived or paid, subject to the Expense Cap.
XML 13 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

"+ text.join( "

\n" ) +"

"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "

" + text[p] + "

\n"; } } }else{ formatted = '

' + raw + '

'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'
'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } }
XML 14 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Dec. 26, 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. 26, 2012
Document Effective Date dei_DocumentEffectiveDate Dec. 26, 2012
Scharf Balanced Opportunity Fund (Prospectus Summary) | Scharf Balanced Opportunity Fund | Investor Class
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol LOGOX
XML 15 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.6 Html 3 45 1 true 3 0 false 2 false false R1.htm 0011 - Document - Document And Entity Information {Elements} Sheet http://www.scharffunds.com/role/DocumentDocumentandEntityInformation Document And Entity Information false true R2.htm 0112 - Document - Risk/Return Summary {Unlabeled} (Scharf Balanced Opportunity Fund) Sheet http://www.scharffunds.com/role/RiskReturn_S000039497Member Risk/Return Summary (Scharf Balanced Opportunity Fund) false false R6.htm 040000 - Disclosure - Risk/Return Detail Data {Elements} Sheet http://xbrl.sec.gov/rr/role/RiskReturnDetailData Risk/Return Detail Data true false All Reports Book All Reports ck0001027596-20121226.xml ck0001027596-20121226.xsd ck0001027596-20121226_cal.xml ck0001027596-20121226_def.xml ck0001027596-20121226_lab.xml ck0001027596-20121226_pre.xml true true