485BPOS

Filed with the U.S. Securities and Exchange Commission on August 6, 2018

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	☒
Pre‑Effective Amendment No.	☐
Post‑Effective Amendment No. 848	☒
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940	☒
Amendment No. 850	☒

(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) 765-6872

Douglas G. Hess, President and Chief Executive Officer

Advisors Series Trust

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

777 East Wisconsin Avenue, 5^th Floor

Milwaukee, Wisconsin 53202

(Name and Address of Agent for Service)

Copies to:

Domenick Pugliese, Esq.

Schiff Hardin LLP

666 Fifth Avenue, Suite 1700

New York, New York 10103

It is proposed that this filing will become effective

ý	immediately upon filing pursuant to paragraph (b)
☐	on pursuant to paragraph (b)
☐	60 days after filing pursuant to paragraph (a)(1)
☐	on pursuant to paragraph (a)(1)
☐	75 days after filing pursuant to paragraph (a)(2)
☐	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. 848 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. 847 on Form N-1A filed July 27, 2018.  This PEA No. 848 is filed for the sole purpose of submitting the XBRL exhibit for the risk/return summary first provided in PEA No. 847 to the Trust's Registration Statement with respect to the Trust's series:  Aasgard Dividend Growth Small & Mid-Cap 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 ("PEA") No. 848 meets all of the requirements for effectiveness under Rule 485(b) and the Registrant has duly caused this PEA No. 848 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 6^th day of August, 2018.

Advisors Series Trust

By: /s/ Douglas G. Hess                       

Douglas G. Hess

President

Pursuant to the requirements of the Securities Act, this PEA No. 848 to its Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

Signature	Title	Date
Gail S. Duree*	Trustee	August 6, 2018
Gail S. Duree
David G. Mertens*	Trustee	August 6, 2018
David G. Mertens
George J. Rebhan*	Trustee	August 6, 2018
George J. Rebhan
Raymond B. Woolson*	Trustee	August 6, 2018
Raymond B. Woolson
Joe D. Redwine*	Trustee	August 6, 2018
Joe D. Redwine
/s/ Cheryl L. King	Treasurer and Principal	August 6, 2018
Cheryl L. King	Financial Officer
/s/ Douglas G. Hess	President, Chief Executive Officer	August 6, 2018
Douglas G. Hess	and Principal Executive Officer
*By: /s/ Douglas G. Hess		August 6, 2018
Douglas G. Hess Attorney-In Fact pursuant to Power of Attorney

EXHIBIT LIST

Exhibit	Exhibit No.
Instance Document	EX-101.INS
Schema Document	EX-101.SCH
Calculation Linkbase Document	EX-101.CAL
Definition Linkbase Document	EX-101.DEF
Label Linkbase Document	EX-101.LAB
Presentation Linkbase Document	EX-101.PRE

XML

Document and Entity Information	Total
Prospectus:
Document Type	485BPOS
Document Period End Date	Mar. 31, 2018
Registrant Name	ADVISORS SERIES TRUST
Central Index Key	0001027596
Amendment Flag	false
Document Creation Date	Jul. 27, 2018
Document Effective Date	Jul. 29, 2018
Prospectus Date	Jul. 29, 2018
Aasgard Dividend Growth Small & Mid-Cap Fund | No Load Class
Prospectus:
Trading Symbol	AADGX

XML

Aasgard Dividend Growth Small & Mid-Cap Fund

Aasgard Dividend Growth Small & Mid-Cap Fund

Investment Objectives

The Fund seeks a combination of dividend income and capital appreciation,

with a secondary focus on lower than market volatility.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold No Load Shares of the Fund.

SHAREHOLDER FEES (fees paid directly from your investment)

Shareholder Fees	Aasgard Dividend Growth Small & Mid-Cap Fund No Load Class USD ($)
SHAREHOLDER FEES (fees paid directly from your investment)	none

ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses	Aasgard Dividend Growth Small & Mid-Cap Fund No Load Class
Management Fees	0.85%
Other Expenses	0.57%
Acquired Fund Fees and Expenses	0.08%
Total Annual Fund Operating Expenses	1.50%	[1]
Less: Fee Waiver	(0.17%)	[2]
Total Annual Fund Operating Expenses After Fee Waiver	1.33%

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	1 Year	3 Years	5 Years	10 Years
Aasgard Dividend Growth Small & Mid-Cap Fund | No Load Class | USD ($)	135	457	802	1,776

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.  During the most recent fiscal year, the Fund’s portfolio turnover rate was 53% of the average value of its portfolio.

Principal Investment Strategies

Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in dividend-paying common stocksof small- and medium-sized companies.  The Fund invests primarily in the common stocks of domesticsmall and medium capitalization companies with market capitalizations under $15 billion that the Advisor believes have strong growth potential and attractive dividend and yield opportunities.  The Fund may also invest up to 15% of its net assets in real estate investment trusts (“REITs”).

The Advisor employs a proprietary ranking system to evaluate the universe of U.S. small- and medium-sized capitalization companies that are traded on U.S. exchanges.  Companies are ranked within their sectors according to the relative dividend yield, dividend growth, dividend consistency, valuation, free-cash flow, and payout ratio.  Each stock considered for purchase must have (i) a current yield of at least 1.00% and (ii) issuer’s five year projected dividend growth rate of at least 5%.  Holdings are reviewed for sale if they have fallen more than 10% since their purchase and may be replaced with stocks the Advisor believes have a higher potential for gain.  This often has the additional benefit of realizing taxable losses that can be used to offset future realized gains.  The Fund’s strategy strives to reduce volatility by limiting individual positions sizes to 5% of the Fund’s total assets and by limiting single industry exposure to less than 20% of the Fund’s total assets.

Target prices are developed for each security, but the Advisor does not have a strict sell discipline.  The Advisor believes that in times of extreme market volatility, a strict sell discipline would require wholesale liquidations resulting in extremely large cash positions.  Under most circumstances, the Advisor will not hold cash positions in excess of 15% of the Fund’s net assets in order to maintain participation in growth opportunities in the overall market but will consider cash positions in excess of this threshold under certain market or economic conditions.

Principal Investment Risks

Losing all or a portion of your investment is a risk of investing in the Fund.  The following risks could affect the value of your investment:

· Management Risk – If the Advisor’s investment strategies do not produce the expected results, the value of the Fund may decrease.

· Market and Regulatory Risk – Events in the financial markets and economy may cause volatility and uncertainty and adversely impact the Fund’s performance. Market events may affect a single issuer, industry, sector, or the market as a whole. Traditionally liquid investments may experience periods of diminished liquidity. Governmental and regulatory actions, including tax law changes, may also impair portfolio management and have unexpected or adverse consequences on particular markets, strategies, or investments.

· Equity Securities Risk – The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions.

· Small- and Medium-Sized Companies 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 Fund’s investments in dividend-paying common stocks may cause the Fund tounderperform funds that do not limit their investments to dividend-paying common stocks during periods when dividend-paying stocks underperform other types of stocks.  In addition, if stocks held by the Fund reduce or stop paying dividends, the Fund’s ability to generate income may be affected.

· Growth Stock Risk – Over time, a growth oriented investing style may go in and out of favor, which may cause the Fund to underperform other equity funds that use different investing styles.

· Real Estate Investment Trust (REIT) Risk – Investments in REITs will be subject to the risks associated with the direct ownership of real estate.  Risks commonly associated with the direct ownership of real estate include fluctuations in the value of underlying properties, defaults by borrowers or tenants, changes in interest rates and risks related to general or local economic conditions.  REITs have their own expenses, and the Fund will bear a proportionate share of those expenses.  In addition, the value of an individual REIT’s securities can decline if the REIT fails to continue qualifying for special tax treatment.

Performance

The following information provides some indication of the risks of investing in the Fund.  The bar chart shows the annual return for the Fund for one year.  The table shows how the Fund’s average annual returns for the 1-year and since inception periods compare with broad measures of market performance.  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 www.coldstream.com/mutual-fund-home or by calling the Fund toll-free at 1-877-476-1909.

Calendar Year Total Returns as of December 31,

The Fund’s calendar year-to-date return as of June 30, 2018 was 4.77%.  During the period of time shown in the bar chart, the Fund’s highest quarterly return was 5.18% for the quarter ended December 31, 2017, and the lowest quarterly return was 2.72% for the quarter ended March 31, 2017.

Average Annual Total Returns (For the period ended December 31, 2017)

Average Annual Returns - Aasgard Dividend Growth Small & Mid-Cap Fund	Label	Average Annual Returns, 1 Year	Average Annual Returns, Since Inception	Average Annual Returns, Inception Date
No Load Class	Return Before Taxes	15.49%	17.97%	Apr. 01, 2016
After Taxes on Distributions | No Load Class	Return After Taxes on Distributions	14.17%	16.96%
After Taxes on Distributions and Sale of Fund Shares | No Load Class	Return After Taxes on Distributions and Sale of Fund Shares	9.24%	13.65%
S&P MidCap® 400 Index (reflects no deduction for fees, expenses or taxes)	S&P MidCap® 400 Index (reflects no deduction for fees, expenses or taxes)	16.24%	18.51%	Apr. 01, 2016

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 situation and may differ from those shown.  Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).

[1] Total Annual Fund Operating Expenses do not correlate to the Ratio of Operating Expenses to Average Net Assets Before Advisory Fee Waiver in the Financial Highlights section of the statutory prospectus, which reflects the operating expenses of the Fund and does not include expenses attributed to acquired fund fees and expenses ("AFFE").

[2] Coldstream Capital Management, Inc., marketed as, "Coldstream Wealth Management" (the "Advisor") has contractually agreed to waive a portion or all of its management fees and pay Fund expenses in order to ensure Total Annual Fund Operating Expenses (excluding AFFE, taxes, interest expense and extraordinary expenses) do not exceed 1.25% of the Fund's average daily net assets (the "Expense Cap"). The Expense Cap will remain in effect through at least July 28, 2019, and may be terminated only by the Board of Trustees (the "Board") of the Trust. The Advisor 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

Label

Element

Value

Aasgard Dividend Growth Small & Mid-Cap Fund

Risk/Return:

rr_RiskReturnAbstract

Risk/Return [Heading]

rr_RiskReturnHeading

Aasgard Dividend Growth Small & Mid-Cap Fund

Objective [Heading]

rr_ObjectiveHeading

Investment Objectives

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The Fund seeks a combination of dividend income and capital appreciation,

Objective, Secondary [Text Block]

rr_ObjectiveSecondaryTextBlock

with a secondary focus on lower than market volatility.

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 No Load 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)

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

Jul. 28, 2019

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.  During the most recent fiscal year, the Fund’s portfolio turnover rate was 53% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

53.00%

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 Operating Expenses to Average Net Assets Before Advisory Fee Waiver in the Financial Highlights section of the statutory prospectus, which reflects the operating expenses of the Fund and does not include expenses attributed to acquired fund fees and expenses (“AFFE”).

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).

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 Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in dividend-paying common stocksof small- and medium-sized companies.  The Fund invests primarily in the common stocks of domesticsmall and medium capitalization companies with market capitalizations under $15 billion that the Advisor believes have strong growth potential and attractive dividend and yield opportunities.  The Fund may also invest up to 15% of its net assets in real estate investment trusts (“REITs”).

The Advisor employs a proprietary ranking system to evaluate the universe of U.S. small- and medium-sized capitalization companies that are traded on U.S. exchanges.  Companies are ranked within their sectors according to the relative dividend yield, dividend growth, dividend consistency, valuation, free-cash flow, and payout ratio.  Each stock considered for purchase must have (i) a current yield of at least 1.00% and (ii) issuer’s five year projected dividend growth rate of at least 5%.  Holdings are reviewed for sale if they have fallen more than 10% since their purchase and may be replaced with stocks the Advisor believes have a higher potential for gain.  This often has the additional benefit of realizing taxable losses that can be used to offset future realized gains.  The Fund’s strategy strives to reduce volatility by limiting individual positions sizes to 5% of the Fund’s total assets and by limiting single industry exposure to less than 20% of the Fund’s total assets.

Target prices are developed for each security, but the Advisor does not have a strict sell discipline.  The Advisor believes that in times of extreme market volatility, a strict sell discipline would require wholesale liquidations resulting in extremely large cash positions.  Under most circumstances, the Advisor will not hold cash positions in excess of 15% of the Fund’s net assets in order to maintain participation in growth opportunities in the overall market but will consider cash positions in excess of this threshold under certain market or economic conditions.

Risk [Heading]

rr_RiskHeading

Principal Investment Risks

Risk Narrative [Text Block]

rr_RiskNarrativeTextBlock

Losing all or a portion of your investment is a risk of investing in the Fund.  The following risks could affect the value of your investment:

· Management Risk – If the Advisor’s investment strategies do not produce the expected results, the value of the Fund may decrease.

· Market and Regulatory Risk – Events in the financial markets and economy may cause volatility and uncertainty and adversely impact the Fund’s performance. Market events may affect a single issuer, industry, sector, or the market as a whole. Traditionally liquid investments may experience periods of diminished liquidity. Governmental and regulatory actions, including tax law changes, may also impair portfolio management and have unexpected or adverse consequences on particular markets, strategies, or investments.

· Equity Securities Risk – The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions.

· Small- and Medium-Sized Companies 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 Fund’s investments in dividend-paying common stocks may cause the Fund tounderperform funds that do not limit their investments to dividend-paying common stocks during periods when dividend-paying stocks underperform other types of stocks.  In addition, if stocks held by the Fund reduce or stop paying dividends, the Fund’s ability to generate income may be affected.

· Growth Stock Risk – Over time, a growth oriented investing style may go in and out of favor, which may cause the Fund to underperform other equity funds that use different investing styles.

· Real Estate Investment Trust (REIT) Risk – Investments in REITs will be subject to the risks associated with the direct ownership of real estate.  Risks commonly associated with the direct ownership of real estate include fluctuations in the value of underlying properties, defaults by borrowers or tenants, changes in interest rates and risks related to general or local economic conditions.  REITs have their own expenses, and the Fund will bear a proportionate share of those expenses.  In addition, the value of an individual REIT’s securities can decline if the REIT fails to continue qualifying for special tax treatment.

Risk Lose Money [Text]

rr_RiskLoseMoney

Losing all or a portion of your investment is a risk of investing in the Fund.

Bar Chart and Performance Table [Heading]

rr_BarChartAndPerformanceTableHeading

Performance

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The following information provides some indication of the risks of investing in the Fund.  The bar chart shows the annual return for the Fund for one year.  The table shows how the Fund’s average annual returns for the 1-year and since inception periods compare with broad measures of market performance.  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 www.coldstream.com/mutual-fund-home or by calling the Fund toll-free at 1-877-476-1909.

Performance Information Illustrates Variability of Returns [Text]

rr_PerformanceInformationIllustratesVariabilityOfReturns

The following information provides some indication of the risks of investing in the Fund.

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

1-877-476-1909

Performance Availability Website Address [Text]

rr_PerformanceAvailabilityWebSiteAddress

www.coldstream.com/mutual-fund-home

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

Calendar Year Total Returns as of December 31,

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

The Fund’s calendar year-to-date return as of June 30, 2018 was 4.77%.  During the period of time shown in the bar chart, the Fund’s highest quarterly return was 5.18% for the quarter ended December 31, 2017, and the lowest quarterly return was 2.72% for the quarter ended March 31, 2017.

Year to Date Return, Label

rr_YearToDateReturnLabel

year-to-date return

Bar Chart, Year to Date Return, Date

rr_BarChartYearToDateReturnDate

Jun. 30, 2018

Bar Chart, Year to Date Return

rr_BarChartYearToDateReturn

4.77%

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

highest quarterly return

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Dec. 31, 2017

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

5.18%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

lowest quarterly return

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Mar. 31, 2017

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

2.72%

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 situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).

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 situation and may differ from those shown.  Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).

Caption

rr_AverageAnnualReturnCaption

Average Annual Total Returns (For the period ended December 31, 2017)

Aasgard Dividend Growth Small & Mid-Cap Fund | S&P MidCap® 400 Index (reflects no deduction for fees, expenses or taxes)

Risk/Return:

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

S&P MidCap® 400 Index (reflects no deduction for fees, expenses or taxes)

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

16.24%

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

18.51%

Average Annual Returns, Inception Date

rr_AverageAnnualReturnInceptionDate

Apr. 01, 2016

Aasgard Dividend Growth Small & Mid-Cap Fund | No Load Class

Risk/Return:

rr_RiskReturnAbstract

SHAREHOLDER FEES (fees paid directly from your investment)

rr_ShareholderFeeOther

none

Management Fees

rr_ManagementFeesOverAssets

0.85%

Other Expenses

rr_OtherExpensesOverAssets

0.57%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.08%

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

1.50%

^[1]

Less: Fee Waiver

rr_FeeWaiverOrReimbursementOverAssets

(0.17%)

^[2]

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

457

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

802

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 1,776

Annual Return 2017

rr_AnnualReturn2017

15.49%

Label

rr_AverageAnnualReturnLabel

Return Before Taxes

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

15.49%

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

17.97%

Average Annual Returns, Inception Date

rr_AverageAnnualReturnInceptionDate

Apr. 01, 2016

Aasgard Dividend Growth Small & Mid-Cap Fund | No Load Class | After Taxes on Distributions

Risk/Return:

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

Return After Taxes on Distributions

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

14.17%

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

16.96%

Aasgard Dividend Growth Small & Mid-Cap Fund | No Load Class | After Taxes on Distributions and Sale of Fund Shares

Risk/Return:

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

Return After Taxes on Distributions and Sale of Fund Shares

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

9.24%

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

13.65%

[1] Total Annual Fund Operating Expenses do not correlate to the Ratio of Operating Expenses to Average Net Assets Before Advisory Fee Waiver in the Financial Highlights section of the statutory prospectus, which reflects the operating expenses of the Fund and does not include expenses attributed to acquired fund fees and expenses ("AFFE").

[2] Coldstream Capital Management, Inc., marketed as, "Coldstream Wealth Management" (the "Advisor") has contractually agreed to waive a portion or all of its management fees and pay Fund expenses in order to ensure Total Annual Fund Operating Expenses (excluding AFFE, taxes, interest expense and extraordinary expenses) do not exceed 1.25% of the Fund's average daily net assets (the "Expense Cap"). The Expense Cap will remain in effect through at least July 28, 2019, and may be terminated only by the Board of Trustees (the "Board") of the Trust. The Advisor 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

Label	Element	Value
Risk/Return:	rr_RiskReturnAbstract
Prospectus Date	rr_ProspectusDate	Jul. 29, 2018