XML 15 R15.htm IDEA: XBRL DOCUMENT v3.6.0.2
Label Element Value
Chase Mid-Cap Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Chase Mid-Cap Growth Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The Mid-Cap Fund’s investment objective is to achieve capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
This table describes the fees and expenses that you may pay if you buy and hold shares of the Mid-Cap 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)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination Jan. 27, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover.
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock
The Mid-Cap 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.  During the most recent fiscal year, the Fund’s portfolio turnover rate was 89.68% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 89.68%
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Effective April 1, 2016, the Mid-Cap Fund’s shareholder servicing plan fee was reduced from 0.25% to 0.15%; therefore Other Expenses have been restated to reflect current fees.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Total Annual Fund Operating Expenses do not correlate to the Ratio of Expenses Including Interest Expense to Average Net Assets in the Financial Highlights section of the statutory prospectus, which reflects the operating expenses of the Mid-Cap Fund (including the higher shareholder servicing plan fee prior to April 1, 2016).
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock
The Example is intended to help you compare the cost of investing in the Mid-Cap Fund with the cost of investing in other mutual funds.  The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods.  The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (taking into account the Expense Caps only in the first year).
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:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock
Under normal market conditions, the Mid-Cap Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in the equity securities of companies with medium market capitalizations (a “mid-cap company”).  This policy may only be changed upon sixty (60) days’ prior notice to shareholders.  The Adviser generally considers a mid-cap company to be one that has a market capitalization of between $1 billion and $20 billion.  Mid-cap company stocks that the Adviser purchases for the Fund typically have earnings growth in excess of 10% per year on a historical basis, have demonstrated consistency of earnings growth over time and are believed by the Adviser to be of higher quality than other mid-cap company stocks.  In addition, the Fund may invest a portion of its assets in non-U.S. issuers through the use of depositary receipts, such as American Depository Receipts (“ADRs”).  The Fund may also use a money market funds or exchange-traded funds (“ETFs”) for its cash position.

In buying and selling portfolio securities, the Adviser first screens companies for 10% or greater earnings growth over the last five years, consistency of earnings, and liquidity. The Adviser then applies a proprietary filter to find stocks with certain characteristics, such as earnings momentum and relative price performance, as well as a number of other fundamental and technical factors.  The Adviser then conducts traditional fundamental security analysis to identify the key drivers of growth for each candidate, assess the risks to the company, and determine the most attractive buys for the Mid-Cap Fund.  The Adviser continuously reviews prices and adjusts its price targets in response to changes in stock characteristics.  The existence of alternative securities that the Adviser considers to be more attractive is an added consideration in deciding whether to sell portfolio securities.

The Adviser expects that the Mid-Cap Fund’s investment strategy may often result in a portfolio turnover rate in excess of 100% on an annual basis.
Risk [Heading] rr_RiskHeading Principal Investment Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock
Losing a portion or all of your investment is a risk of investing in the Mid-Cap Fund.  The following additional risks could affect the value of your investment:

·
General Market Risk  – Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions.

·
Management Risk – The Mid-Cap Fund’s ability to achieve its investment objective depends on the Adviser’s ability to correctly identify economic trends and select stocks, particularly in volatile stock markets.

·
Market Risk – The value of stocks and other securities the Mid-Cap Fund holds or the overall stock market may decline over short or extended periods.

·
Medium-Sized Company Risk – A mid-cap company may be more vulnerable to adverse business or economic events than stocks of larger companies.  These stocks present greater risks than securities of larger, more diversified companies.

·
Depositary Receipt   Risk – Depositary receipts involve risks similar to those associated with investments in foreign securities and certain additional risks. Investments in foreign securities may involve financial, economic or political risks not ordinarily associated with the securities of U.S. issuers.  Depositary receipts listed on U.S. exchanges are issued by banks or trust companies, and entitle the holder to all dividends and capital gains that are paid out on the underlying foreign shares. When the Fund invests in depositary receipts as a substitute for an investment directly in the underlying foreign shares, the Fund is exposed to the risk that the depositary receipts may not provide a return that corresponds precisely with that of the underlying foreign shares.

·
Portfolio Turnover Risk – A high portfolio turnover rate (100% or more) has the potential to result in the realization and distribution to shareholders of higher capital gains, which may subject you to a higher tax liability.

The Mid-Cap Fund is intended for investors who:

·
Have a long-term investment horizon;

·
Want to diversify their investment portfolio by investing in a mutual fund that invests in securities of mid-cap companies; and/or

·
Are willing to accept the greater risks of investing in a portfolio with significant common stock holdings.
Risk Lose Money [Text] rr_RiskLoseMoney Losing a portion or all of your investment is a risk of investing in the Mid-Cap Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock
The following performance information provides some indication of the risks of investing in the Mid-Cap Fund and reflects the period for which the Adviser was retained as the Fund’s investment adviser (including a period during which the Fund was organized as a different mutual fund).  The bar chart shows the annual returns for the Fund’s Class N shares from year to year since retention of the Adviser.  The table shows how the Fund’s Class N and Institutional Class shares average annual returns for 1, 5, and 10 years and since retention of the Adviser compare with those of broad measures of market performance and an index that reflects the Lipper category applicable to the Fund.  The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.  Updated performance information is available on the Fund’s website at www.chaseinv.com or by calling the Fund toll-free at 1-888-861-7556.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following performance information provides some indication of the risks of investing in the Mid-Cap Fund and reflects the period for which the Adviser was retained as the Fund’s investment adviser (including a period during which the Fund was organized as a different mutual fund).
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-888-861-7556
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.chaseinv.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Class N – Calendar Year Total Returns as of December 31
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
During the period of time shown in the bar chart, the highest return for a calendar quarter was 14.26% (quarter ended 12/31/2010) and the lowest return for a calendar quarter was -25.32% (quarter ended 12/31/2008).
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2010
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 14.26%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (25.32%)
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes (reflects no deduction for fees, expenses or taxes)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for Class N; after-tax returns for the Institutional Class will vary to the extent it has different expenses.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher The Return After Taxes on Distributions and Sale of Fund Shares is higher than other return figures when a capital loss occurs upon the redemption of Fund shares.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).  After-tax returns are shown only for Class N; after-tax returns for the Institutional Class will vary to the extent it has different expenses.  The Return After Taxes on Distributions and Sale of Fund Shares is higher than other return figures when a capital loss occurs upon the redemption of Fund shares.
Caption rr_AverageAnnualReturnCaption Average Annual Total Returns (for the periods ended December 31, 2016)
Chase Mid-Cap Growth Fund | Russell Midcap® Growth Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell Midcap® Growth Index (reflects no deduction for fees, expenses or taxes)
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 7.33%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 13.51%
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 7.83%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 10.83% [1]
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Sep. 01, 2002
Chase Mid-Cap Growth Fund | Lipper Mid-Cap Growth Funds Index (reflects no deduction for taxes)  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Lipper Mid-Cap Growth Funds Index (reflects no deduction for taxes)
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 6.27%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 11.94%
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 7.32%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 9.64% [1]
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Sep. 01, 2002
Chase Mid-Cap Growth Fund | S&P 500® Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel S&P 500® Index (reflects no deduction for fees, expenses or taxes)
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 11.96%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 14.66%
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 6.95%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 8.64% [1]
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Sep. 01, 2002
Chase Mid-Cap Growth Fund | Class N  
Risk/Return: rr_RiskReturnAbstract  
Redemption Fee (as a percentage of Amount Redeemed) rr_RedemptionFeeOverRedemption (2.00%)
Management Fees rr_ManagementFeesOverAssets 0.75%
Shareholder Servicing Plan Fees rr_Component1OtherExpensesOverAssets 0.15%
Other Expenses (includes Shareholder Servicing Plan Fees) rr_OtherExpensesOverAssets 1.08% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.83% [3]
Less: Fee Waiver rr_FeeWaiverOrReimbursementOverAssets (0.50%) [4]
Total Annual Fund Operating Expenses After Fee Waiver rr_NetExpensesOverAssets 1.33%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 135
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 527
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 944
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 2,107
Annual Return 2007 rr_AnnualReturn2007 19.74%
Annual Return 2008 rr_AnnualReturn2008 (39.65%)
Annual Return 2009 rr_AnnualReturn2009 26.83%
Annual Return 2010 rr_AnnualReturn2010 25.14%
Annual Return 2011 rr_AnnualReturn2011 9.01%
Annual Return 2012 rr_AnnualReturn2012 11.40%
Annual Return 2013 rr_AnnualReturn2013 38.29%
Annual Return 2014 rr_AnnualReturn2014 0.97%
Annual Return 2015 rr_AnnualReturn2015 2.77%
Annual Return 2016 rr_AnnualReturn2016 7.57%
Label rr_AverageAnnualReturnLabel Mid-Cap Fund, Class N Return Before Taxes
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 7.57% [5]
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 11.45% [5]
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 7.96% [5]
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 8.96% [1],[5]
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Sep. 01, 2002 [5]
Chase Mid-Cap Growth Fund | Class N | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Mid-Cap Fund, Class N Return After Taxes on Distributions
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 3.74% [5]
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 8.98% [5]
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 6.70% [5]
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 7.95% [1],[5]
Chase Mid-Cap Growth Fund | Class N | After Taxes on Distributions and Sale of Fund Shares  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Mid-Cap Fund, Class N Return After Taxes on Distributions and Sale of Fund Shares
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 7.52% [5]
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 8.97% [5]
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 6.41% [5]
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 7.48% [1],[5]
Chase Mid-Cap Growth Fund | Institutional Class  
Risk/Return: rr_RiskReturnAbstract  
Redemption Fee (as a percentage of Amount Redeemed) rr_RedemptionFeeOverRedemption (2.00%)
Management Fees rr_ManagementFeesOverAssets 0.75%
Shareholder Servicing Plan Fees rr_Component1OtherExpensesOverAssets none
Other Expenses (includes Shareholder Servicing Plan Fees) rr_OtherExpensesOverAssets 0.94% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.69% [3]
Less: Fee Waiver rr_FeeWaiverOrReimbursementOverAssets (0.51%) [4]
Total Annual Fund Operating Expenses After Fee Waiver rr_NetExpensesOverAssets 1.18%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 120
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 483
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 870
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,955
Label rr_AverageAnnualReturnLabel Mid-Cap Fund, Institutional Class Return Before Taxes
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 7.76% [5]
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 11.70% [5]
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 8.08% [5]
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 9.04% [1],[5]
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Feb. 02, 2012 [5]
[1] Prior to September 1, 2002, the Predecessor Mid-Cap Fund was advised by a different investment adviser. Performance from January 1, 2001, the inception date of the Predecessor Mid-Cap Fund, to August 31, 2002, is not shown.
[2] Effective April 1, 2016, the Mid-Cap Fund's shareholder servicing plan fee was reduced from 0.25% to 0.15%; therefore Other Expenses have been restated to reflect current fees.
[3] Total Annual Fund Operating Expenses do not correlate to the Ratio of Expenses Including Interest Expense to Average Net Assets in the Financial Highlights section of the statutory prospectus, which reflects the operating expenses of the Mid-Cap Fund (including the higher shareholder servicing plan fee prior to April 1, 2016).
[4] Chase Investment Counsel Corporation (the "Adviser") has contractually agreed to waive all or a portion of its management fees and pay Mid-Cap Fund expenses (excluding acquired fund fees and expenses ("AFFE"), leverage interest, and extraordinary expenses) in order to limit Total Annual Fund Operating Expenses for the Mid-Cap Fund Class N and Institutional Class shares to 1.33% and 1.18% of the Fund's average daily net assets, respectively (the "Expense Caps"). The Expense Caps will remain in effect through at least January 27, 2018, and may be terminated only by the Board of Trustees (the "Board") of Advisors Series Trust (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 Caps.
[5] Class N incepted on September 1, 2002, and the Institutional Class incepted on February 2, 2012. Performance shown prior to the inception of the Institutional Class reflects the performance of Class N and includes expenses that are not applicable to and are higher than those of the Institutional Class.