Label

Element

Value

Risk/Return:

rr_RiskReturnAbstract

Supplement [Text Block]

ck0001027596_SupplementTextBlock

January 2, 2015

O’SHAUGHNESSY ALL CAP CORE FUND

(the “Fund”)

Class I – OFAIX

A series of Advisors Series Trust (the “Trust”)

Supplement dated January 2, 2015 to the Summary Prospectus, Prospectus and

Statement of Additional Information (“SAI”) dated November 28, 2014

Effective January 1, 2015, O’Shaughnessy Asset Management, LLC (the “Adviser”) has further agreed to temporarily waive all or a portion of its management fees and pay operating expenses (excluding acquired fund fees and expenses, interest, taxes and extraordinary expenses) of the Fund in order to limit the net annual Fund operating expenses to 0.60% of the average daily net assets of Class I through at least December 31, 2015.  In addition, the Trust has reduced the shareholder servicing plan fee accrual payable by the Fund to 0.00% through at least December 31, 2015.  In connection with these changes, effective January 1, 2015, the following modifications are made to the Fund’s Summary Prospectus, Prospectus and SAI.

Risk/Return [Heading]

rr_RiskReturnHeading

O'Shaughnessy All Cap Core Fund

Expense Narrative [Text Block]

rr_ExpenseNarrativeTextBlock

    · The Fund’s Annual Fund Operating Expenses table on page 1 of each of the Summary Prospectus and Prospectus is deleted and replaced with the following:

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)

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

2015-12-31

Expense Example Narrative [Text Block]

rr_ExpenseExampleNarrativeTextBlock

      ·   The Fund’s Example on page 1 of each of the Summary Prospectus and Prospectus is deleted and replaced with the following:

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 temporary expense limitation only in the first year).

Expense Example by, Year, Caption [Text]

rr_ExpenseExampleByYearCaption

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

Expense Example Closing [Text Block]

rr_ExpenseExampleClosingTextBlock

*   *   *   *   *

Please retain this Supplement with your Summary Prospectus, Prospectus and SAI

for future reference.

Class I

Risk/Return:

rr_RiskReturnAbstract

Management Fees

rr_ManagementFeesOverAssets

0.55%

Distribution (Rule 12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

none

Other Expenses

rr_OtherExpensesOverAssets

0.21%

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

0.76%

Less: Fee Waiver and Expense Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.16%)

^[1]

Net Annual Fund Operating Expenses

rr_NetExpensesOverAssets

0.60%

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

61

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

227

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

407

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

927

[1] Effective January 1, 2015, O'Shaughnessy Asset Management, LLC (the "Adviser") has further agreed to temporarily pay for all operating expenses (excluding acquired fund fees and expenses ("AFFE"), interest, taxes and extraordinary expenses) incurred by the Fund through at least December 31, 2015, to the extent necessary to limit Net Annual Fund Operating Expenses for the Fund to 0.60% of the average daily net assets of Class I (the "temporary expense limitation"). The temporary expense limitation may be discontinued at any time after December 31, 2015. The Adviser may not recoup amounts subject to the temporary expense limitation in future periods. Prior to January 1, 2015, the contractual expense cap for Class I shares of the Fund under the Fund's written operating expenses limitation agreement was 0.99%.