0001398344-18-008721.txt : 20180607 0001398344-18-008721.hdr.sgml : 20180607 20180607161243 ACCESSION NUMBER: 0001398344-18-008721 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 17 FILED AS OF DATE: 20180607 DATE AS OF CHANGE: 20180607 EFFECTIVENESS DATE: 20180607 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MARSICO INVESTMENT FUND CENTRAL INDEX KEY: 0001047112 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-36975 FILM NUMBER: 18886625 BUSINESS ADDRESS: STREET 1: 1200 17TH ST STREET 2: STE 1600 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: 3034545600 MAIL ADDRESS: STREET 1: 1200 17TH STREET SUITE 1600 CITY: DENVER STATE: CO ZIP: 80202 0001047112 S000007710 MARSICO FOCUS FUND C000020960 MARSICO FOCUS FUND MFOCX 0001047112 S000007711 MARSICO GROWTH FUND C000020961 MARSICO GROWTH FUND MGRIX 0001047112 S000007712 MARSICO 21ST CENTURY FUND C000020962 MARSICO 21ST CENTURY FUND MXXIX 497 1 fp0033539_497-xbrl.htm

 

EXPLANATORY NOTE

 

The sole purpose of this filing is to file revised XBRL exhibits containing the risk/return summary information that corresponds with the risk/return summary information in a supplement dated May 16, 2018 to the Prospectus for the Marsico Focus Fund, Marsico Growth Fund, and Marsico 21st Century Fund. The SEC accession number for the related supplement is 0001398344-18-007680.

 

EX-101.INS 3 marsico-20180130.xml XBRL INSTANCE FILE 0001047112 2018-01-30 2018-01-30 0001047112 marsico:S000007710Member 2018-01-30 2018-01-30 0001047112 marsico:S000007710Member marsico:Index1Member 2018-01-30 2018-01-30 0001047112 marsico:S000007710Member marsico:C000020960Member 2018-01-30 2018-01-30 0001047112 marsico:S000007710Member marsico:C000020960Member rr:AfterTaxesOnDistributionsMember 2018-01-30 2018-01-30 0001047112 marsico:S000007710Member marsico:C000020960Member rr:AfterTaxesOnDistributionsAndSalesMember 2018-01-30 2018-01-30 0001047112 marsico:S000007711Member 2018-01-30 2018-01-30 0001047112 marsico:S000007711Member marsico:Index2Member 2018-01-30 2018-01-30 0001047112 marsico:S000007711Member marsico:C000020961Member 2018-01-30 2018-01-30 0001047112 marsico:S000007711Member marsico:C000020961Member rr:AfterTaxesOnDistributionsMember 2018-01-30 2018-01-30 0001047112 marsico:S000007711Member marsico:C000020961Member rr:AfterTaxesOnDistributionsAndSalesMember 2018-01-30 2018-01-30 0001047112 marsico:S000007712Member 2018-01-30 2018-01-30 0001047112 marsico:S000007712Member marsico:Index3Member 2018-01-30 2018-01-30 0001047112 marsico:S000007712Member marsico:C000020962Member 2018-01-30 2018-01-30 0001047112 marsico:S000007712Member marsico:C000020962Member rr:AfterTaxesOnDistributionsMember 2018-01-30 2018-01-30 0001047112 marsico:S000007712Member marsico:C000020962Member rr:AfterTaxesOnDistributionsAndSalesMember 2018-01-30 2018-01-30 0001047112 marsico:S000007712Member marsico:Index4Member 2018-01-30 2018-01-30 iso4217:USD xbrli:pure 497 2017-09-30 MARSICO INVESTMENT FUND 0001047112 false 2018-05-16 2018-05-16 2018-01-31 <p style="font: 11pt Times New Roman, Times, Serif; 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As of June 1, 2018, the Fund does not accrue 12b-1 Fees. Restated to reflect current Distribution and Service (12b-1) Fee accrual rates. As of June 1, 2018, the Fund does not accrue 12b-1 Fees. Restated to reflect current Distribution and Service (12b-1) Fee accrual rates. As of June 1, 2018, the Fund does not accrue 12b-1 Fees. Total Annual Fund Operating Expenses do not correlate to the "ratio of expenses to average net assets" provided in the Financial Highlights. The information in the Financial Highlights does not include the restatement of the Distribution and Service (12b-1) Fees applicable to the Fund to reflect the current Distribution and Service (12b-1) Fee rate for the entire fiscal year, which is reflected in the Distribution and Service (12b-1) Fees line item above, and does not include Acquired Fund Fees and Expenses, which are included in Other Expenses above. Total Annual Fund Operating Expenses do not correlate to the "ratio of expenses to average net assets" provided in the Financial Highlights. The information in the Financial Highlights does not include the restatement of the Distribution and Service (12b-1) Fees applicable to the Fund to reflect the current Distribution and Service (12b-1) Fee rate for the entire fiscal year, which is reflected in the Distribution and Service (12b-1) Fees line item above, and does not include Acquired Fund Fees and Expenses, which are included in Other Expenses above. .67 0.50 0.28 Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund. Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund. Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund. The following bar chart and table provide some indication of the risk of investing in the Fund. The following bar chart and table provide some indication of the risk of investing in the Fund. The following bar chart and table provide some indication of the risk of investing in the Fund. As with all mutual funds, past performance (before and after taxes) is not necessarily an indication of future results. As with all mutual funds, past performance (before and after taxes) is not necessarily an indication of future results. As with all mutual funds, past performance (before and after taxes) is not necessarily an indication of future results. marsicofunds.com marsicofunds.com marsicofunds.com 888-860-8686 888-860-8686 888-860-8686 Best Quarter Best Quarter Best Quarter 2009-09-30 2009-09-30 2009-06-30 0.1653 0.1606 0.2085 Worst Quarter Worst Quarter Worst Quarter 2008-12-31 2008-12-31 2008-12-31 -0.2329 -0.2400 -0.2576 After-tax returns are calculated using the historical highest individual federal marginal income tax rates currently in effect and do not reflect the impact of state and local taxes. After-tax returns are calculated using the historical highest individual federal marginal income tax rates currently in effect and do not reflect the impact of state and local taxes. After-tax returns are calculated using the historical highest individual federal marginal income tax rates currently in effect and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The Fund is classified as a "non-diversified" portfolio, which means it may hold fewer securities than a diversified fund because it is permitted to invest a greater percentage of its assets in a smaller number of securities. Holding fewer securities increases the risk that the value of the Fund could go down because of the poor performance of a single investment. MFOCX MGRIX MXXIX <table cellspacing="0" cellpadding="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 41%"><font style="font-size: 11pt; color: #002D55"><b>Best Quarter</b></font></td> <td style="width: 28%"><font style="font-size: 11pt; color: #002D55"><b>(09/30/09):</b></font></td> <td style="width: 31%; text-align: center"><font style="font-size: 11pt; color: #002D55"><b>16.53%</b></font></td></tr> <tr style="vertical-align: top"> <td><font style="font-size: 11pt; color: #002D55"><b>Worst Quarter </b></font></td> <td><font style="font-size: 11pt; color: #002D55"><b>(12/31/08):</b></font></td> <td style="text-align: center"><font style="font-size: 11pt; color: #002D55"><b>-23.29%</b></font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 41%"><font style="font-size: 11pt; color: #002D55"><b>Best Quarter</b></font></td> <td style="width: 28%"><font style="font-size: 11pt; color: #002D55"><b>(09/30/09):</b></font></td> <td style="width: 31%; text-align: center"><font style="font-size: 11pt; color: #002D55"><b>16.06%</b></font></td></tr> <tr style="vertical-align: top"> <td><font style="font-size: 11pt; color: #002D55"><b>Worst Quarter </b></font></td> <td><font style="font-size: 11pt; color: #002D55"><b>(12/31/08):</b></font></td> <td style="text-align: center"><font style="font-size: 11pt; color: #002D55"><b>-24.00%</b></font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 40%"><font style="font-size: 11pt; color: #002D55"><b>Best Quarter</b></font></td> <td style="width: 30%"><font style="font-size: 11pt; color: #002D55"><b>(06/30/09):</b></font></td> <td style="width: 30%; text-align: center"><font style="font-size: 11pt; color: #002D55"><b>20.85%</b></font></td></tr> <tr style="vertical-align: top"> <td><font style="font-size: 11pt; color: #002D55"><b>Worst Quarter </b></font></td> <td><font style="font-size: 11pt; color: #002D55"><b>(12/31/08):</b></font></td> <td style="text-align: center"><font style="font-size: 11pt; color: #002D55"><b>-25.76%</b></font></td></tr> </table> Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund. Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund. Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund. After-tax returns are calculated using the historical highest individual federal marginal income tax rates currently in effect and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Restated to reflect current Distribution and Service (12b-1) Fee accrual rates. As of June 1, 2018, the Fund does not accrue 12b-1 Fees. Total Annual Fund Operating Expenses do not correlate to the "ratio of expenses to average net assets" provided in the Financial Highlights. The information in the Financial Highlights does not include the restatement of the Distribution and Service (12b-1) Fees applicable to the Fund to reflect the current Distribution and Service (12b-1) Fee rate for the entire fiscal year, which is reflected in the Distribution and Service (12b-1) Fees line item above, and does not include Acquired Fund Fees and Expenses, which are included in Other Expenses above. Total Annual Fund Operating Expenses do not correlate to the "ratio of expenses to average net assets" provided in the Financial Highlights. The information in the Financial Highlights does not include the restatement of the Distribution and Service (12b-1) Fees applicable to the Fund to reflect the current Distribution and Service (12b-1) Fee rate for the entire fiscal year, which is reflected in the Distribution and Service (12b-1) Fees line item above. EX-101.SCH 4 marsico-20180130.xsd XBRL SCHEMA FILE 00000003 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 5 marsico-20180130_cal.xml XBRL CALCULATION FILE EX-101.DEF 6 marsico-20180130_def.xml XBRL DEFINITION FILE EX-101.LAB 7 marsico-20180130_lab.xml XBRL LABEL FILE Legal Entity [Axis] Marsico Focus Fund Performance Measure [Axis] S&P 500 Index (reflects no deduction for fees, expenses or taxes) Share Class [Axis] Marsico Focus Fund Shares After Taxes on Distributions After Taxes on Distributions and Sales Marsico Growth Fund S&P 500 Index (reflects no deduction for fees, expenses or taxes) Marsico Growth Fund Shares Marsico 21st Century Fund Russell Midcap Growth Index (reflects no deduction for fees, expenses or taxes) Marsico 21st Century Fund Shares S&P 500 Index (reflects no deduction for fees, expenses or taxes) Document And Entity Information Document Type Document Period End Date Registrant Name Central Index Key Amendment Flag Amendment Description Trading Symbol Document Creation Date Document Effective Date Prospectus Date Risk/Return [Heading] Objective [Heading] Objective, Primary [Text Block] Objective, Secondary [Text Block] Expense [Heading] Expense Narrative [Text Block] Shareholder Fees Caption [Text] Shareholder Fees [Table] Operating Expenses Caption [Text] Annual Fund Operating Expenses [Table] Expense Footnotes [Text Block] Expenses Deferred Charges [Text Block] Expenses Range of Exchange Fees [Text Block] Expense Example [Heading] Expense Example by Year [Heading] Expense Example Narrative [Text Block] Expense Example by, Year, Caption [Text] Expense Example, With Redemption [Table] Expense Example, No Redemption Narrative [Text Block] Expense Example, No Redemption, By Year, Caption [Text] Expense Example, No Redemption [Table] Expense Example Footnotes [Text Block] Expense Example Closing [Text Block] Portfolio Turnover [Heading] Portfolio Turnover [Text Block] Strategy [Heading] Strategy Narrative [Text Block] Risk [Heading] Risk Narrative [Text Block] Risk Footnotes [Text Block] Risk Closing [Text Block] Bar Chart and Performance Table [Heading] Performance Narrative [Text Block] Bar Chart Narrative [Text Block] Bar Chart [Heading] Bar Chart [Table] Bar Chart Footnotes [Text Block] Bar Chart Closing [Text Block] Performance Table Heading Performance Table Narrative Performance [Table] Market Index Performance [Table] Performance Table Footnotes Performance Table Closing [Text Block] Marsico International Opportunities Fund Marsico Flexible Capital Fund Marsico Global Fund Shareholder Fees Column [Text] Maximum Cumulative Sales Charge (as a percentage of Offering Price) Maximum Cumulative Sales Charge (as a percentage) Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage) Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage) Redemption Fee (as a percentage of Amount Redeemed) Redemption Fee Exchange Fee (as a percentage of Amount Redeemed) Exchange Fee Maximum Account Fee (as a percentage of Assets) Maximum Account Fee Shareholder Fee, Other Marsico International Opportunities Fund Shares Marsico Flexible Capital Fund Shares Marsico Global Fund Shares Operating Expenses Column [Text] Management Fee Distribution and Service (12b-1) Fees Distribution or Similar (Non 12b-1) Fees Component1 Other Expenses Component2 Other Expenses Component3 Other Expenses Other Expenses Acquired Fund Fees and Expenses Total Annual Fund Operating Expenses Fee Waiver and/or Expense Reimbursement Net Expenses Expense Example, By Year, Column [Text] One Year Three Years Five Years Ten Years Expense Example, No Redemption, By Year, Column [Text] Expense Example, No Redemption, 1 Year Expense Example, No Redemption, 3 Years Expense Example, No Redemption, 5 Years Expense Example, No Redemption, 10 Years Annual Return Caption [Text] Annual Return, Column [Text] Annual Return, Inception Date Annual Return 1990 Annual Return 1991 Annual Return 1992 Annual Return 1993 Annual Return 1994 Annual Return 1995 Annual Return 1996 Annual Return 1997 Annual Return 1998 Annual Return 1999 Annual Return 2000 Annual Return 2001 Annual Return 2002 Annual Return 2003 Annual Return 2004 Annual Return 2005 Annual Return 2006 Annual Return 2007 Annual Return 2008 Annual Return 2009 Annual Return 2010 Annual Return 2011 Annual Return 2012 Annual Return 2013 Annual Return 2014 Annual Return 2015 Annual Return 2016 Annual Return 2017 Annual Return 2018 Annual Return 2019 Annual Return 2020 Label 1 Year 5 Years 10 Years Since Inception Inception Date Morgan Stanley Capital International Europe Australasia Far East (“EAFE“) Index (reflects no deduction for fees, expenses or taxes) S&P 500 Index (reflects no deduction for fees, expenses or taxes) Morgan Stanley Capital International All Country World Index (reflects no deduction for fees, expenses or taxes) Risk/Return Detail [Table] Fee Waiver and/or Expense Reimbursement Fee Waiver or Reimbursement over Assets, Date of Termination Portfolio Turnover, Rate Expense Breakpoint Discounts [Text] Expense Breakpoint, Minimum Investment Required [Amount] Expense Exchange Traded Fund Commissions [Text] Expenses Represent Both Master and Feeder [Text] Expenses Explanation of Nonrecurring Account Fee [Text] Other Expenses, New Fund, Based on Estimates [Text] Acquired Fund Fees and Expenses, Based on Estimates [Text] Expenses Other Expenses Had Extraordinary Expenses Been Included [Text] Expenses Restated to Reflect Current [Text] Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] Strategy Portfolio Concentration [Text] Risk Lose Money [Text] Risk Nondiversified Status [Text] Risk Money Market Fund [Text] Risk Not Insured Depository Institution [Text] Risk Caption Risk Column [Text] Risk [Text] Performance Information Illustrates Variability of Returns [Text] Performance One Year or Less [Text] Performance Additional Market Index [Text] Performance Availability Phone [Text] Performance Availability Website Address [Text] Performance Past Does Not Indicate Future [Text] Bar Chart Does Not Reflect Sales Loads [Text] Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text] Bar Chart, Returns for Class Not Offered in Prospectus [Text] Year to Date Return, Label Bar Chart, Year to Date Return, Date Bar Chart, Year to Date Return Highest Quarterly Return, Label Highest Quarterly Return, Date Highest Quarterly Return Lowest Quarterly Return, Label Lowest Quarterly Return, Date Lowest Quarterly Return Performance Table Does Reflect Sales Loads Performance Table Market Index Changed Index No Deduction for Fees, Expenses, Taxes [Text] Performance Table Uses Highest Federal Rate Performance Table Not Relevant to Tax Deferred Performance Table One Class of after Tax Shown [Text] Performance Table Explanation after Tax Higher Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period [Text] Caption Column Money Market Seven Day Yield, Caption [Text] Money Market Seven Day Yield Column [Text] Money Market Seven Day Yield Phone Money Market Seven Day Yield Money Market Seven Day Tax Equivalent Yield Thirty Day Yield Caption Thirty Day Yield Column [Text] Thirty Day Yield Phone Thirty Day Yield Thirty Day Tax Equivalent Yield Index2Member Index4Member Index6Member EX-101.PRE 8 marsico-20180130_pre.xml XBRL PRESENTATION FILE XML 9 R1.htm IDEA: XBRL DOCUMENT v3.8.0.1
Document and Entity Information
Total
Document And Entity Information  
Document Type 497
Document Period End Date Sep. 30, 2017
Registrant Name MARSICO INVESTMENT FUND
Central Index Key 0001047112
Amendment Flag false
Document Creation Date May 16, 2018
Document Effective Date May 16, 2018
Prospectus Date Jan. 31, 2018
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Marsico Focus Fund

MARSICO FOCUS FUND

INVESTMENT OBJECTIVE

The Marsico Focus Fund's goal is to seek long-term growth of capital.

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
Marsico Focus Fund
Marsico Focus Fund Shares
USD ($)
Redemption Fee none

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses
Marsico Focus Fund
Marsico Focus Fund Shares
Management Fee 0.77%
Distribution and Service (12b-1) Fees none [1]
Other Expenses 0.36%
Total Annual Fund Operating Expenses 1.13% [2]
Net Expenses 1.13% [2]
[1] Restated to reflect current Distribution and Service (12b-1) Fee accrual rates. As of June 1, 2018, the Fund does not accrue 12b-1 Fees.
[2] Total Annual Fund Operating Expenses do not correlate to the "ratio of expenses to average net assets" provided in the Financial Highlights. The information in the Financial Highlights does not include the restatement of the Distribution and Service (12b-1) Fees applicable to the Fund to reflect the current Distribution and Service (12b-1) Fee rate for the entire fiscal year, which is reflected in the Distribution and Service (12b-1) Fees line item above, and does not include Acquired Fund Fees and Expenses, which are included in Other Expenses above.

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

Expense Example
One Year
Three Years
Five Years
Ten Years
Marsico Focus Fund | Marsico Focus Fund Shares | USD ($) 115 359 622 1,375

Portfolio Turnover

The Fund generally pays transaction costs, such as brokerage 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 above, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 67% of the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES

The Marsico Focus Fund is a "non-diversified" portfolio and invests primarily in the common stocks of large companies that are selected for their long-term growth potential. The Fund will normally hold a core position of between 20 and 35 common stocks. The number of securities held by the Fund may occasionally exceed this range at times such as when the investment adviser to the Fund, Marsico Capital Management, LLC (see "Management" below), is accumulating new positions, phasing out and replacing existing positions, or responding to exceptional market conditions.

 

In selecting investments for the Fund, the investment adviser uses an approach that emphasizes the selection of what the investment adviser believes are stocks of high-quality companies with compelling potential for long-term capital appreciation. The investment approach combines "top-down" macro-economic analysis with "bottom-up" company and security analysis. The "top-down" approach generally considers macro-economic factors to formulate the strategic backdrop for security selection. These factors may include, without limitation, interest rates, inflation, monetary policy, fiscal policy, trade policy, currency movements, demographic trends, the regulatory environment, and the global competitive landscape. The investment adviser may also examine other factors that may include, without limitation, the most attractive global investment opportunities, sector and industry trends, industry consolidation, and the sustainability of financial trends. Through this "top-down" analysis, the investment adviser seeks to create a strategic backdrop for actual portfolio construction by identifying sectors, industries and companies that may benefit from the overall trends the investment adviser has observed.

 

In the bottom-up analysis, the investment adviser looks for individual companies or securities (including, without limitation, equity securities and fixed or variable income securities) that are expected to offer earnings growth potential that may not be recognized by the market at large. In determining whether a particular company or security may be a suitable investment, the investment adviser may focus on any of a number of different attributes that may include, without limitation, the company's specific market expertise or dominance; its market-share position, franchise durability, and pricing power; solid fundamentals (e.g., a strong balance sheet, improving profit margins and returns on equity, the ability to generate free cash flow, apparent use of conservative accounting standards, and transparent financial disclosure); strong and ethical management; commitment to shareholder interests; reasonable current valuations in the context of projected growth rates and peer group comparisons; current income; and other positive, transformational catalysts or indications that a company or security may be an attractive investment prospect. This process is called "bottom-up" company and security analysis.

 

As part of this fundamental, "bottom-up" research, the investment adviser may visit a company's management, and conduct other research to gain thorough knowledge of the company. The investment adviser also may prepare detailed earnings and cash flow models of companies.

 

The core investments of the Fund (i.e., the primary investments held by the Fund over time) generally may include established companies and securities that are expected to offer long-term growth potential. However, the Fund's portfolio also may typically include securities of less mature companies, securities with more aggressive growth characteristics, and securities of companies undergoing positive, transformational change in their business model, such as, without limitation, the introduction of a new product, the appointment of a new management team, or a merger or acquisition.

 

The investment adviser may reduce or sell the Fund's investments in portfolio securities if, in the opinion of the investment adviser, a security's fundamentals change substantially, its price appreciation leads to overvaluation in relation to the investment adviser's estimates of future earnings and cash flow growth, the company appears unlikely to realize its growth potential or current income potential, more attractive investment opportunities appear elsewhere or for other reasons.

 

The Fund may invest without limitation in foreign securities further described in this Prospectus depending on market conditions. These securities may be traded in the U.S. or in foreign markets or both, and may be economically tied to emerging markets. The investment adviser generally selects foreign securities on a security-by-security basis based primarily on considerations such as growth potential rather than geographic location or similar considerations.

 

The investment adviser has discretion to hedge exposures to currencies, markets, interest rates and any other variables that could potentially affect returns to investors. The Fund may use derivative investments or instruments such as futures, options, swaps, or forward currency contracts to attempt to hedge the Fund's portfolio, or to serve other investment purposes as discussed further in this Prospectus under "More Information about the Funds." The Fund is not intended as a vehicle for investing substantially in derivatives, and tends to hold such investments only infrequently. The Fund is not required to hedge its investments and historically has rarely done so.

PRINCIPAL INVESTMENT RISKS

Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund. The Fund's share price and total return will fluctuate. You should consider your own investment goals, time horizon and risk tolerance before investing in the Fund. The principal risks associated with an investment in the Fund include the following:

 

Equity Securities, Markets and Investment Risks Generally. The Fund is subject to the broad risks associated with investing in equity securities markets generally, including, without limitation, the risks that the securities and markets in which the Fund invests may experience volatility and instability, that domestic and global economies and markets may undergo periods of cyclical change and decline, that investors may at times avoid investments in equity securities, and that the investment adviser may select investments for the Fund that do not perform as anticipated.

 

Non-Diversification Risk. The Fund is classified as a "non-diversified" portfolio, which means it may hold fewer securities than a diversified fund because it is permitted to invest a greater percentage of its assets in a smaller number of securities. Holding fewer securities increases the risk that the value of the Fund could go down because of the poor performance of a single investment.

 

Foreign Investment Risk. Investments in foreign securities generally, and emerging markets in particular, may be riskier than U.S. investments for a variety of reasons such as, without limitation, unstable international, political and economic conditions, currency fluctuations, foreign controls on investment and currency exchange, foreign governmental control of some issuers, potential confiscatory taxation or nationalization of companies by foreign governments, sovereign solvency considerations, withholding taxes, a lack of adequate company information, less liquid and more volatile exchanges and/or markets, ineffective or detrimental government regulation, varying accounting standards, political or economic factors that may severely limit business activities, legal systems or market practices that may permit inequitable treatment of minority and/or non-domestic investors, immature economic structures, and less developed and more thinly-traded securities markets.

 

Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies not tightly pegged to the U.S. dollar.

 

Sector Risk. While the Fund does not have a principal investment strategy to focus its investments in any particular sector, the Fund from time to time may have significant exposure to one or more sectors, and in those circumstances would be subject to risks associated with those sectors. These include the risk that the stocks of multiple companies within a sector could simultaneously decline in price because of an event that affects the entire sector.

 

These and other risks (including risks associated with fixed and variable income securities) are discussed in more detail later in this Prospectus and in the Fund's Statement of Additional Information.

PERFORMANCE

The following bar chart and table provide some indication of the risk of investing in the Fund. The bar chart shows changes in the Fund's performance from calendar year to year for the past ten years, together with the best and worst quarters during that time. The table shows how the Fund's average annual returns (before and after taxes) for the periods of one year, five years, ten years, and since inception, compared to those of a broad-based securities market index. All presentations assume reinvestment of dividends and distributions. As with all mutual funds, past performance (before and after taxes) is not necessarily an indication of future results.

 

You can obtain updated performance information on our website at marsicofunds.com, or by calling 888-860-8686.

CALENDAR YEAR TOTAL RETURNS

Bar Chart
Best Quarter (09/30/09): 16.53%
Worst Quarter (12/31/08): -23.29%

AVERAGE ANNUAL TOTAL RETURNS

(for periods ended 12/31/17)

Average Annual Total Returns - Marsico Focus Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Marsico Focus Fund Shares 33.99% 14.26% 6.84% 8.23% Dec. 31, 1997
Marsico Focus Fund Shares | After Taxes on Distributions [1] 29.00% 10.80% 5.00% 7.09% Dec. 31, 1997
Marsico Focus Fund Shares | After Taxes on Distributions and Sales [1] 23.39% 10.96% 5.27% 6.89% Dec. 31, 1997
S&P 500 Index (reflects no deduction for fees, expenses or taxes) 21.83% 15.79% 8.50% 7.20% Dec. 31, 1997
[1] After-tax returns are calculated using the historical highest individual federal marginal income tax rates currently in effect and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Marsico Growth Fund

MARSICO GROWTH FUND

INVESTMENT OBJECTIVE

The Marsico Growth Fund's goal is to seek long-term growth of capital.

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
Marsico Growth Fund
Marsico Growth Fund Shares
USD ($)
Redemption Fee none

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses
Marsico Growth Fund
Marsico Growth Fund Shares
Management Fee 0.80%
Distribution and Service (12b-1) Fees none [1]
Other Expenses 0.37%
Total Annual Fund Operating Expenses 1.17% [2]
Net Expenses 1.17% [2]
[1] Restated to reflect current Distribution and Service (12b-1) Fee accrual rates. As of June 1, 2018, the Fund does not accrue 12b-1 Fees.
[2] Total Annual Fund Operating Expenses do not correlate to the "ratio of expenses to average net assets" provided in the Financial Highlights. The information in the Financial Highlights does not include the restatement of the Distribution and Service (12b-1) Fees applicable to the Fund to reflect the current Distribution and Service (12b-1) Fee rate for the entire fiscal year, which is reflected in the Distribution and Service (12b-1) Fees line item above.

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

Expense Example
One Year
Three Years
Five Years
Ten Years
Marsico Growth Fund | Marsico Growth Fund Shares | USD ($) 119 372 644 1,420

Portfolio Turnover

The Fund generally pays transaction costs, such as brokerage 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 above, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 50% of the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES

The Marsico Growth Fund is a "diversified" portfolio and invests primarily in the common stocks of large companies that are selected for their long-term growth potential. The Fund will normally hold a core position of between 35 and 50 common stocks. The number of securities held by the Fund may occasionally exceed this range at times such as when the investment adviser to the Fund, Marsico Capital Management, LLC (see "Management" below), is accumulating new positions, phasing out and replacing existing positions, or responding to exceptional market conditions.

 

In selecting investments for the Fund, the investment adviser uses an approach that emphasizes the selection of what the investment adviser believes are stocks of high-quality companies with compelling potential for long-term capital appreciation. The investment approach combines "top-down" macro-economic analysis with "bottom-up" company and security analysis. The "top-down" approach generally considers certain macro-economic factors to formulate the strategic backdrop for security selection. These factors may include, without limitation, interest rates, inflation, monetary policy, fiscal policy, trade policy, currency movements, demographic trends, the regulatory environment, and the global competitive landscape. The investment adviser may also examine other factors that may include, without limitation, the most attractive global investment opportunities, sector and industry trends, industry consolidation, and the sustainability of financial trends. Through this "top-down" analysis, the investment adviser seeks to create a strategic backdrop for actual portfolio construction by identifying sectors, industries and companies that may benefit from the overall trends the investment adviser has observed.

 

In the bottom-up analysis, the investment adviser looks for individual companies or securities (including, without limitation, equity securities and fixed or variable income securities) that are expected to offer earnings growth potential that may not be recognized by the market at large. In determining whether a particular company or security may be a suitable investment, the investment adviser may focus on any of a number of different attributes that may include, without limitation, the company's specific market expertise or dominance; its market-share position, franchise durability, and pricing power; solid fundamentals (e.g., a strong balance sheet, improving profit margins and returns on equity, the ability to generate free cash flow, apparent use of conservative accounting standards, and transparent financial disclosure); strong and ethical management; commitment to shareholder interests; reasonable current valuations in the context of projected growth rates and peer group comparisons; current income; and other positive, transformational catalysts or indications that a company or security may be an attractive investment prospect. This process is called "bottom-up" company and security analysis.

 

As part of this fundamental, "bottom-up" research, the investment adviser may visit a company's management, and conduct other research to gain thorough knowledge of the company. The investment adviser also may prepare detailed earnings and cash flow models of companies.

 

The core investments of the Fund (i.e., the primary investments held by the Fund over time) generally may include established companies and securities that are expected to offer long-term growth potential. However, the Fund's portfolio also may typically include securities of less mature companies, securities with more aggressive growth characteristics, and securities of companies undergoing positive transformational change in their business model, such as, without limitation, the introduction of a new product, the appointment of a new management team, or a merger or acquisition.

 

The investment adviser may reduce or sell the Fund's investments in portfolio securities if, in the opinion of the investment adviser, a security's fundamentals change substantially, its price appreciation leads to overvaluation in relation to the investment adviser's estimates of future earnings and cash flow growth, the company appears unlikely to realize its growth potential or current income potential, more attractive investment opportunities appear elsewhere or for other reasons.

 

The Fund may invest without limitation in foreign securities further described in this Prospectus depending on market conditions. These securities may be traded in the U.S. or in foreign markets or both, and may be economically tied to emerging markets. The investment adviser generally selects foreign securities on a security-by-security basis based primarily on considerations such as growth potential rather than geographic location or similar considerations.

 

The investment adviser has discretion to hedge exposures to currencies, markets, interest rates and any other variables that could potentially affect returns to investors. The Fund may use derivative investments or instruments such as futures, options, swaps, or forward currency contracts to attempt to hedge the Fund's portfolio, or to serve other investment purposes as discussed further in this Prospectus under "More Information about the Funds." The Fund is not intended as a vehicle for investing substantially in derivatives, and tends to hold such investments only infrequently. The Fund is not required to hedge its investments and historically has rarely done so.

PRINCIPAL INVESTMENT RISKS

Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund. The Fund's share price and total return will fluctuate. You should consider your own investment goals, time horizon and risk tolerance before investing in the Fund. The principal risks associated with an investment in the Fund include the following:

 

Equity Securities, Markets, and Investment Risks Generally. The Fund is subject to the broad risks associated with investing in equity securities markets generally, including, without limitation, the risks that the securities and markets in which the Fund invests may experience volatility and instability, that domestic and global economies and markets may undergo periods of cyclical change and decline, that investors may at times avoid investments in equity securities, and that the investment adviser may select investments for the Fund that do not perform as anticipated.

 

Foreign Investment Risk. Investments in foreign securities generally, and emerging markets in particular, may be riskier than U.S. investments for a variety of reasons such as, without limitation, unstable international, political and economic conditions, currency fluctuations, foreign controls on investment and currency exchange, foreign governmental control of some issuers, potential confiscatory taxation or nationalization of companies by foreign governments, sovereign solvency considerations, withholding taxes, a lack of adequate company information, less liquid and more volatile exchanges and/or markets, ineffective or detrimental government regulation, varying accounting standards, political or economic factors that may severely limit business activities, legal systems or market practices that may permit inequitable treatment of minority and/or non-domestic investors, immature economic structures, and less developed and more thinly-traded securities markets.

 

Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies not tightly pegged to the U.S. dollar.

 

Sector Risk. While the Fund does not have a principal investment strategy to focus its investments in any particular sector, the Fund from time to time may have significant exposure to one or more sectors, and in those circumstances would be subject to risks associated with those sectors. These include the risk that the stocks of multiple companies within a sector could simultaneously decline in price because of an event that affects the entire sector.

 

These and other risks (including risks associated with fixed and variable income securities) are discussed in more detail later in this Prospectus and in the Fund's Statement of Additional Information.

PERFORMANCE

The following bar chart and table provide some indication of the risk of investing in the Fund. The bar chart shows changes in the Fund's performance from calendar year to year for the past ten years, together with the best and worst quarters during that time. The table shows how the Fund's average annual returns (before and after taxes) for the periods of one year, five years, ten years, and since inception, compared to those of a broad-based securities market index. All presentations assume reinvestment of dividends and distributions. As with all mutual funds, past performance (before and after taxes) is not necessarily an indication of future results.

 

You can obtain updated performance information on our website at marsicofunds.com, or by calling 888-860-8686.

CALENDAR YEAR TOTAL RETURNS

Bar Chart
Best Quarter (09/30/09): 16.06%
Worst Quarter (12/31/08): -24.00%

AVERAGE ANNUAL TOTAL RETURNS

(for periods ended 12/31/17)

Average Annual Total Returns - Marsico Growth Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Marsico Growth Fund Shares 31.11% 13.03% 6.13% 7.65% Dec. 31, 1997
Marsico Growth Fund Shares | After Taxes on Distributions [1] 28.30% 9.18% 4.20% 6.58% Dec. 31, 1997
Marsico Growth Fund Shares | After Taxes on Distributions and Sales [1] 19.94% 9.70% 4.58% 6.33% Dec. 31, 1997
S&P 500 Index (reflects no deduction for fees, expenses or taxes) 21.83% 15.79% 8.50% 7.20% Dec. 31, 1997
[1] After-tax returns are calculated using the historical highest individual federal marginal income tax rates currently in effect and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Marsico 21st Century Fund

MARSICO 21st CENTURY FUND

INVESTMENT OBJECTIVE

The Marsico 21st Century Fund's goal is to seek long-term growth of capital.

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
Marsico 21st Century Fund
Marsico 21st Century Fund Shares
USD ($)
Redemption Fee none

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses
Marsico 21st Century Fund
Marsico 21st Century Fund Shares
Management Fee 0.80%
Distribution and Service (12b-1) Fees none [1]
Other Expenses 0.36%
Total Annual Fund Operating Expenses 1.16% [2]
Net Expenses 1.16% [2]
[1] Restated to reflect current Distribution and Service (12b-1) Fee accrual rates. As of June 1, 2018, the Fund does not accrue 12b-1 Fees.
[2] Total Annual Fund Operating Expenses do not correlate to the "ratio of expenses to average net assets" provided in the Financial Highlights. The information in the Financial Highlights does not include the restatement of the Distribution and Service (12b-1) Fees applicable to the Fund to reflect the current Distribution and Service (12b-1) Fee rate for the entire fiscal year, which is reflected in the Distribution and Service (12b-1) Fees line item above, and does not include Acquired Fund Fees and Expenses, which are included in Other Expenses above.

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

Expense Example
One Year
Three Years
Five Years
Ten Years
Marsico 21st Century Fund | Marsico 21st Century Fund Shares | USD ($) 118 368 638 1,409

Portfolio Turnover

The Fund generally pays transaction costs, such as brokerage 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 above, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 28% of the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES

The Marsico 21st Century Fund is a "diversified" portfolio and invests primarily in common stocks that are selected for their long-term growth potential. The Fund may invest in companies of any size. The portions of Fund assets invested in large-capitalization, medium-capitalization, or small-capitalization companies (which are described further in "Some Defined Terms" later in the prospectus) will vary based on market conditions, depending on the portfolio manager's judgment as to how to achieve the Fund's investment objective. Under current market conditions the portfolio manager expects to invest substantially in medium-capitalization companies. The Fund will normally hold a core position of between 35 and 60 common stocks, but the number of securities held by the Fund may occasionally exceed this range at times such as when the investment adviser to the Fund, Marsico Capital Management, LLC (see "Management" below), is accumulating new positions, phasing out and replacing existing positions, or responding to exceptional market conditions.

 

In selecting investments for the Fund, the investment adviser uses an approach that emphasizes the selection of what the investment adviser believes are stocks of high-quality companies with compelling potential for long-term capital appreciation. The investment approach combines "top-down" macro-economic analysis with "bottom-up" company and security analysis. The "top-down" approach generally considers certain macro-economic factors to formulate the strategic backdrop for security selection. These factors may include, without limitation, interest rates, inflation, monetary policy, fiscal policy, trade policy, currency movements, demographic trends, the regulatory environment, and the global competitive landscape. The investment adviser may also examine other factors that may include, without limitation, the most attractive global investment opportunities, sector and industry trends, industry consolidation, and the sustainability of financial trends. Through this "top-down" analysis, the investment adviser seeks to create a strategic backdrop for actual portfolio construction by identifying sectors, industries and companies that may benefit from the overall trends the investment adviser has observed.

 

In the bottom-up analysis, the investment adviser looks for individual companies or securities (including, without limitation, equity securities and fixed or variable income securities) that are expected to offer earnings growth potential that may not be recognized by the market at large. In determining whether a particular company or security may be a suitable investment, the investment adviser may focus on any of a number of different attributes that may include, without limitation, the company's specific market expertise or dominance; its market share position, franchise durability, and pricing power; solid fundamentals (e.g., a strong balance sheet, improving profit margins and returns on equity, the ability to generate free cash flow, apparent use of conservative accounting standards, and transparent financial disclosure); strong and ethical management; commitment to shareholder interests; reasonable current valuations in the context of projected growth rates and peer group comparisons; current income; and other positive transformational catalysts or indications that a company or security may be an attractive investment prospect. This process is called "bottom-up" company and security analysis.

 

As part of this fundamental, "bottom-up" research, the investment adviser may visit a company's management, and conduct other research to gain thorough knowledge of the company. The investment adviser also may prepare detailed earnings and cash flow models of companies.

 

The core investments of the Fund (i.e., the primary investments held by the Fund over time) generally may include established companies and securities that are expected to offer long-term growth potential. However, the Fund's portfolio also may typically include securities of less mature companies, securities with more aggressive growth characteristics, and securities of companies undergoing positive, transformational change in their business model, such as, without limitation, the introduction of a new product, the appointment of a new management team, or a merger or acquisition.

 

The investment adviser may reduce or sell the Fund's investments in portfolio securities if, in the opinion of the investment adviser, a security's fundamentals change substantially, its price appreciation leads to overvaluation in relation to the investment adviser's estimates of future earnings and cash flow growth, the company appears unlikely to realize its growth potential or current income potential, more attractive investment opportunities appear elsewhere or for other reasons.

 

The Fund may invest without limitation in foreign securities further described in this Prospectus depending on market conditions. These securities may be traded in the U.S. or in foreign markets or both, and may be economically tied to emerging markets. The investment adviser generally selects foreign securities on a security-by-security basis based primarily on considerations such as growth potential rather than geographic location or similar considerations.

 

The investment adviser has discretion to hedge exposures to currencies, markets, interest rates and any other variables that could potentially affect returns to investors. The Fund may use derivative investments or instruments such as futures, options, swaps, or forward currency contracts to attempt to hedge the Fund's portfolio, or to serve other investment purposes as discussed further in this Prospectus under "More Information about the Funds." The Fund is not intended as a vehicle for investing substantially in derivatives, and tends to hold such investments only infrequently. The Fund is not required to hedge its investments and historically has rarely done so.

PRINCIPAL INVESTMENT RISKS

Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund. The Fund's share price and total return will fluctuate. You should consider your own investment goals, time horizon and risk tolerance before investing in the Fund. The principal risks associated with an investment in the Fund include the following:

 

Equity Securities, Markets, and Investment Risks Generally. The Fund is subject to the broad risks associated with investing in equity securities markets generally, including, without limitation, the risks that the securities and markets in which the Fund invests may experience volatility and instability, that domestic and global economies and markets may undergo periods of cyclical change and decline, that investors may at times avoid investments in equity securities, and that the investment adviser may select investments for the Fund that do not perform as anticipated.

 

Risks of Small- and Medium-Capitalization Company Investing. The Fund's investments in small-capitalization and medium-capitalization companies can involve more risk than its investments in large-capitalization companies because smaller companies have potentially greater sensitivity to adverse business or economic conditions. Normally, smaller companies may have more limited financial resources, markets or product lines, less access to capital markets, and more limited trading in their stocks. This can cause the prices of equity securities of these companies to be more volatile than those of larger capitalization companies, or to decline more significantly during market downturns than the market as a whole.

 

Foreign Investment Risk. Investments in foreign securities generally, and emerging markets in particular, may be riskier than U.S. investments for a variety of reasons such as, without limitation, unstable international, political and economic conditions, currency fluctuations, foreign controls on investment and currency exchange, foreign governmental control of some issuers, potential confiscatory taxation or nationalization of companies by foreign governments, sovereign solvency considerations, withholding taxes, a lack of adequate company information, less liquid and more volatile exchanges and/or markets, ineffective or detrimental government regulation, varying accounting standards, political or economic factors that may severely limit business activities, legal systems or market practices that may permit inequitable treatment of minority and/or non-domestic investors, immature economic structures, and less developed and more thinly-traded securities markets.

 

Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies not tightly pegged to the U.S. dollar.

 

Sector Risk. While the Fund does not have a principal investment strategy to focus its investments in any particular sector, the Fund from time to time may have significant exposure to one or more sectors, and in those circumstances would be subject to risks associated with those sectors. These include the risk that the stocks of multiple companies within a sector could simultaneously decline in price because of an event that affects the entire sector.

 

These and other risks (including risks associated with fixed and variable income securities) are discussed in more detail later in this Prospectus and in the Fund's Statement of Additional Information.

PERFORMANCE

The following bar chart and table provide some indication of the risk of investing in the Fund. The bar chart shows changes in the Fund's performance from calendar year to year for the past ten years, together with the best and worst quarters during that time. The table shows how the Fund's average annual returns (before and after taxes) for the periods of one year, five years, ten years, and since inception, compared to those of a broad-based securities market index. Effective January 31, 2018, the Russell Midcap Growth Index was made the primary benchmark index of the Fund because under current market conditions the Fund is invested substantially in medium-capitalization securities, and the S&P 500 Index was made a supplemental benchmark index. The Russell Midcap Growth Index is an index composed of mid-capitalization U.S. equities that exhibit growth characteristics. All presentations assume reinvestment of dividends and distributions. As with all mutual funds, past performance (before and after taxes) is not necessarily an indication of future results.

 

You can obtain updated performance information on our website at marsicofunds.com, or by calling 888-860-8686.

CALENDAR YEAR TOTAL RETURNS

Bar Chart
Best Quarter (06/30/09): 20.85%
Worst Quarter (12/31/08): -25.76%

AVERAGE ANNUAL TOTAL RETURNS

(for periods ended 12/31/17)

Average Annual Total Returns - Marsico 21st Century Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Marsico 21st Century Fund Shares 30.05% 14.53% 4.72% 6.14% Feb. 01, 2000
Marsico 21st Century Fund Shares | After Taxes on Distributions [1] 30.05% 14.53% 4.72% 6.07% Feb. 01, 2000
Marsico 21st Century Fund Shares | After Taxes on Distributions and Sales [1] 17.01% 11.71% 3.76% 5.11% Feb. 01, 2000
Russell Midcap Growth Index (reflects no deduction for fees, expenses or taxes) 25.27% 15.30% 9.10% 5.74% Feb. 01, 2000
S&P 500 Index (reflects no deduction for fees, expenses or taxes) 21.83% 15.79% 8.50% 5.67% Feb. 01, 2000
[1] After-tax returns are calculated using the historical highest individual federal marginal income tax rates currently in effect and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
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Document Period End Date dei_DocumentPeriodEndDate Sep. 30, 2017
Registrant Name dei_EntityRegistrantName MARSICO INVESTMENT FUND
Central Index Key dei_EntityCentralIndexKey 0001047112
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate May 16, 2018
Document Effective Date dei_DocumentEffectiveDate May 16, 2018
Prospectus Date rr_ProspectusDate Jan. 31, 2018
Marsico Focus Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading

MARSICO FOCUS FUND

Objective [Heading] rr_ObjectiveHeading

INVESTMENT OBJECTIVE

Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Marsico Focus Fund's goal is to seek long-term growth of capital.

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 generally pays transaction costs, such as brokerage 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 above, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 67% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 67.00%
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Restated to reflect current Distribution and Service (12b-1) Fee accrual rates. As of June 1, 2018, the Fund does not accrue 12b-1 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 to average net assets" provided in the Financial Highlights. The information in the Financial Highlights does not include the restatement of the Distribution and Service (12b-1) Fees applicable to the Fund to reflect the current Distribution and Service (12b-1) Fee rate for the entire fiscal year, which is reflected in the Distribution and Service (12b-1) Fees line item above, and does not include Acquired Fund Fees and Expenses, which are included in Other Expenses above.
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. This 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. 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

The Marsico Focus Fund is a "non-diversified" portfolio and invests primarily in the common stocks of large companies that are selected for their long-term growth potential. The Fund will normally hold a core position of between 20 and 35 common stocks. The number of securities held by the Fund may occasionally exceed this range at times such as when the investment adviser to the Fund, Marsico Capital Management, LLC (see "Management" below), is accumulating new positions, phasing out and replacing existing positions, or responding to exceptional market conditions.

 

In selecting investments for the Fund, the investment adviser uses an approach that emphasizes the selection of what the investment adviser believes are stocks of high-quality companies with compelling potential for long-term capital appreciation. The investment approach combines "top-down" macro-economic analysis with "bottom-up" company and security analysis. The "top-down" approach generally considers macro-economic factors to formulate the strategic backdrop for security selection. These factors may include, without limitation, interest rates, inflation, monetary policy, fiscal policy, trade policy, currency movements, demographic trends, the regulatory environment, and the global competitive landscape. The investment adviser may also examine other factors that may include, without limitation, the most attractive global investment opportunities, sector and industry trends, industry consolidation, and the sustainability of financial trends. Through this "top-down" analysis, the investment adviser seeks to create a strategic backdrop for actual portfolio construction by identifying sectors, industries and companies that may benefit from the overall trends the investment adviser has observed.

 

In the bottom-up analysis, the investment adviser looks for individual companies or securities (including, without limitation, equity securities and fixed or variable income securities) that are expected to offer earnings growth potential that may not be recognized by the market at large. In determining whether a particular company or security may be a suitable investment, the investment adviser may focus on any of a number of different attributes that may include, without limitation, the company's specific market expertise or dominance; its market-share position, franchise durability, and pricing power; solid fundamentals (e.g., a strong balance sheet, improving profit margins and returns on equity, the ability to generate free cash flow, apparent use of conservative accounting standards, and transparent financial disclosure); strong and ethical management; commitment to shareholder interests; reasonable current valuations in the context of projected growth rates and peer group comparisons; current income; and other positive, transformational catalysts or indications that a company or security may be an attractive investment prospect. This process is called "bottom-up" company and security analysis.

 

As part of this fundamental, "bottom-up" research, the investment adviser may visit a company's management, and conduct other research to gain thorough knowledge of the company. The investment adviser also may prepare detailed earnings and cash flow models of companies.

 

The core investments of the Fund (i.e., the primary investments held by the Fund over time) generally may include established companies and securities that are expected to offer long-term growth potential. However, the Fund's portfolio also may typically include securities of less mature companies, securities with more aggressive growth characteristics, and securities of companies undergoing positive, transformational change in their business model, such as, without limitation, the introduction of a new product, the appointment of a new management team, or a merger or acquisition.

 

The investment adviser may reduce or sell the Fund's investments in portfolio securities if, in the opinion of the investment adviser, a security's fundamentals change substantially, its price appreciation leads to overvaluation in relation to the investment adviser's estimates of future earnings and cash flow growth, the company appears unlikely to realize its growth potential or current income potential, more attractive investment opportunities appear elsewhere or for other reasons.

 

The Fund may invest without limitation in foreign securities further described in this Prospectus depending on market conditions. These securities may be traded in the U.S. or in foreign markets or both, and may be economically tied to emerging markets. The investment adviser generally selects foreign securities on a security-by-security basis based primarily on considerations such as growth potential rather than geographic location or similar considerations.

 

The investment adviser has discretion to hedge exposures to currencies, markets, interest rates and any other variables that could potentially affect returns to investors. The Fund may use derivative investments or instruments such as futures, options, swaps, or forward currency contracts to attempt to hedge the Fund's portfolio, or to serve other investment purposes as discussed further in this Prospectus under "More Information about the Funds." The Fund is not intended as a vehicle for investing substantially in derivatives, and tends to hold such investments only infrequently. The Fund is not required to hedge its investments and historically has rarely done so.

Risk [Heading] rr_RiskHeading

PRINCIPAL INVESTMENT RISKS

Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund. The Fund's share price and total return will fluctuate. You should consider your own investment goals, time horizon and risk tolerance before investing in the Fund. The principal risks associated with an investment in the Fund include the following:

 

Equity Securities, Markets and Investment Risks Generally. The Fund is subject to the broad risks associated with investing in equity securities markets generally, including, without limitation, the risks that the securities and markets in which the Fund invests may experience volatility and instability, that domestic and global economies and markets may undergo periods of cyclical change and decline, that investors may at times avoid investments in equity securities, and that the investment adviser may select investments for the Fund that do not perform as anticipated.

 

Non-Diversification Risk. The Fund is classified as a "non-diversified" portfolio, which means it may hold fewer securities than a diversified fund because it is permitted to invest a greater percentage of its assets in a smaller number of securities. Holding fewer securities increases the risk that the value of the Fund could go down because of the poor performance of a single investment.

 

Foreign Investment Risk. Investments in foreign securities generally, and emerging markets in particular, may be riskier than U.S. investments for a variety of reasons such as, without limitation, unstable international, political and economic conditions, currency fluctuations, foreign controls on investment and currency exchange, foreign governmental control of some issuers, potential confiscatory taxation or nationalization of companies by foreign governments, sovereign solvency considerations, withholding taxes, a lack of adequate company information, less liquid and more volatile exchanges and/or markets, ineffective or detrimental government regulation, varying accounting standards, political or economic factors that may severely limit business activities, legal systems or market practices that may permit inequitable treatment of minority and/or non-domestic investors, immature economic structures, and less developed and more thinly-traded securities markets.

 

Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies not tightly pegged to the U.S. dollar.

 

Sector Risk. While the Fund does not have a principal investment strategy to focus its investments in any particular sector, the Fund from time to time may have significant exposure to one or more sectors, and in those circumstances would be subject to risks associated with those sectors. These include the risk that the stocks of multiple companies within a sector could simultaneously decline in price because of an event that affects the entire sector.

 

These and other risks (including risks associated with fixed and variable income securities) are discussed in more detail later in this Prospectus and in the Fund's Statement of Additional Information.

Risk Lose Money [Text] rr_RiskLoseMoney Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus The Fund is classified as a "non-diversified" portfolio, which means it may hold fewer securities than a diversified fund because it is permitted to invest a greater percentage of its assets in a smaller number of securities. Holding fewer securities increases the risk that the value of the Fund could go down because of the poor performance of a single investment.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

PERFORMANCE

Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The following bar chart and table provide some indication of the risk of investing in the Fund. The bar chart shows changes in the Fund's performance from calendar year to year for the past ten years, together with the best and worst quarters during that time. The table shows how the Fund's average annual returns (before and after taxes) for the periods of one year, five years, ten years, and since inception, compared to those of a broad-based securities market index. All presentations assume reinvestment of dividends and distributions. As with all mutual funds, past performance (before and after taxes) is not necessarily an indication of future results.

 

You can obtain updated performance information on our website at marsicofunds.com, or by calling 888-860-8686.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table provide some indication of the risk of investing in the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 888-860-8686
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress marsicofunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture As with all mutual funds, past performance (before and after taxes) is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading

CALENDAR YEAR TOTAL RETURNS

Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter (09/30/09): 16.53%
Worst Quarter (12/31/08): -23.29%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 16.53%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (23.29%)
Performance Table Heading rr_PerformanceTableHeading

AVERAGE ANNUAL TOTAL RETURNS

(for periods ended 12/31/17)

Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates currently in effect and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Marsico Focus Fund | Marsico Focus Fund Shares  
Risk Return Abstract rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol MFOCX
Redemption Fee rr_RedemptionFee none
Management Fee rr_ManagementFeesOverAssets 0.77%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none [1]
Other Expenses rr_OtherExpensesOverAssets 0.36%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.13% [2]
Net Expenses rr_NetExpensesOverAssets 1.13% [2]
One Year rr_ExpenseExampleYear01 $ 115
Three Years rr_ExpenseExampleYear03 359
Five Years rr_ExpenseExampleYear05 622
Ten Years rr_ExpenseExampleYear10 $ 1,375
Annual Return 2008 rr_AnnualReturn2008 (40.75%)
Annual Return 2009 rr_AnnualReturn2009 30.49%
Annual Return 2010 rr_AnnualReturn2010 18.31%
Annual Return 2011 rr_AnnualReturn2011 (2.65%)
Annual Return 2012 rr_AnnualReturn2012 11.75%
Annual Return 2013 rr_AnnualReturn2013 38.11%
Annual Return 2014 rr_AnnualReturn2014 11.39%
Annual Return 2015 rr_AnnualReturn2015 1.43%
Annual Return 2016 rr_AnnualReturn2016 (6.85%)
Annual Return 2017 rr_AnnualReturn2017 33.99%
1 Year rr_AverageAnnualReturnYear01 33.99%
5 Years rr_AverageAnnualReturnYear05 14.26%
10 Years rr_AverageAnnualReturnYear10 6.84%
Since Inception rr_AverageAnnualReturnSinceInception 8.23%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 1997
Marsico Focus Fund | After Taxes on Distributions | Marsico Focus Fund Shares  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 29.00% [3]
5 Years rr_AverageAnnualReturnYear05 10.80% [3]
10 Years rr_AverageAnnualReturnYear10 5.00% [3]
Since Inception rr_AverageAnnualReturnSinceInception 7.09% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 1997 [3]
Marsico Focus Fund | After Taxes on Distributions and Sales | Marsico Focus Fund Shares  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 23.39% [3]
5 Years rr_AverageAnnualReturnYear05 10.96% [3]
10 Years rr_AverageAnnualReturnYear10 5.27% [3]
Since Inception rr_AverageAnnualReturnSinceInception 6.89% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 1997 [3]
Marsico Focus Fund | S&P 500 Index (reflects no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 21.83%
5 Years rr_AverageAnnualReturnYear05 15.79%
10 Years rr_AverageAnnualReturnYear10 8.50%
Since Inception rr_AverageAnnualReturnSinceInception 7.20%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 1997
Marsico Growth Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading

MARSICO GROWTH FUND

Objective [Heading] rr_ObjectiveHeading

INVESTMENT OBJECTIVE

Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Marsico Growth Fund's goal is to seek long-term growth of capital.

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 generally pays transaction costs, such as brokerage 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 above, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 50% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 50.00%
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Restated to reflect current Distribution and Service (12b-1) Fee accrual rates. As of June 1, 2018, the Fund does not accrue 12b-1 Fees.
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. This 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. 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

The Marsico Growth Fund is a "diversified" portfolio and invests primarily in the common stocks of large companies that are selected for their long-term growth potential. The Fund will normally hold a core position of between 35 and 50 common stocks. The number of securities held by the Fund may occasionally exceed this range at times such as when the investment adviser to the Fund, Marsico Capital Management, LLC (see "Management" below), is accumulating new positions, phasing out and replacing existing positions, or responding to exceptional market conditions.

 

In selecting investments for the Fund, the investment adviser uses an approach that emphasizes the selection of what the investment adviser believes are stocks of high-quality companies with compelling potential for long-term capital appreciation. The investment approach combines "top-down" macro-economic analysis with "bottom-up" company and security analysis. The "top-down" approach generally considers certain macro-economic factors to formulate the strategic backdrop for security selection. These factors may include, without limitation, interest rates, inflation, monetary policy, fiscal policy, trade policy, currency movements, demographic trends, the regulatory environment, and the global competitive landscape. The investment adviser may also examine other factors that may include, without limitation, the most attractive global investment opportunities, sector and industry trends, industry consolidation, and the sustainability of financial trends. Through this "top-down" analysis, the investment adviser seeks to create a strategic backdrop for actual portfolio construction by identifying sectors, industries and companies that may benefit from the overall trends the investment adviser has observed.

 

In the bottom-up analysis, the investment adviser looks for individual companies or securities (including, without limitation, equity securities and fixed or variable income securities) that are expected to offer earnings growth potential that may not be recognized by the market at large. In determining whether a particular company or security may be a suitable investment, the investment adviser may focus on any of a number of different attributes that may include, without limitation, the company's specific market expertise or dominance; its market-share position, franchise durability, and pricing power; solid fundamentals (e.g., a strong balance sheet, improving profit margins and returns on equity, the ability to generate free cash flow, apparent use of conservative accounting standards, and transparent financial disclosure); strong and ethical management; commitment to shareholder interests; reasonable current valuations in the context of projected growth rates and peer group comparisons; current income; and other positive, transformational catalysts or indications that a company or security may be an attractive investment prospect. This process is called "bottom-up" company and security analysis.

 

As part of this fundamental, "bottom-up" research, the investment adviser may visit a company's management, and conduct other research to gain thorough knowledge of the company. The investment adviser also may prepare detailed earnings and cash flow models of companies.

 

The core investments of the Fund (i.e., the primary investments held by the Fund over time) generally may include established companies and securities that are expected to offer long-term growth potential. However, the Fund's portfolio also may typically include securities of less mature companies, securities with more aggressive growth characteristics, and securities of companies undergoing positive transformational change in their business model, such as, without limitation, the introduction of a new product, the appointment of a new management team, or a merger or acquisition.

 

The investment adviser may reduce or sell the Fund's investments in portfolio securities if, in the opinion of the investment adviser, a security's fundamentals change substantially, its price appreciation leads to overvaluation in relation to the investment adviser's estimates of future earnings and cash flow growth, the company appears unlikely to realize its growth potential or current income potential, more attractive investment opportunities appear elsewhere or for other reasons.

 

The Fund may invest without limitation in foreign securities further described in this Prospectus depending on market conditions. These securities may be traded in the U.S. or in foreign markets or both, and may be economically tied to emerging markets. The investment adviser generally selects foreign securities on a security-by-security basis based primarily on considerations such as growth potential rather than geographic location or similar considerations.

 

The investment adviser has discretion to hedge exposures to currencies, markets, interest rates and any other variables that could potentially affect returns to investors. The Fund may use derivative investments or instruments such as futures, options, swaps, or forward currency contracts to attempt to hedge the Fund's portfolio, or to serve other investment purposes as discussed further in this Prospectus under "More Information about the Funds." The Fund is not intended as a vehicle for investing substantially in derivatives, and tends to hold such investments only infrequently. The Fund is not required to hedge its investments and historically has rarely done so.

Risk [Heading] rr_RiskHeading

PRINCIPAL INVESTMENT RISKS

Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund. The Fund's share price and total return will fluctuate. You should consider your own investment goals, time horizon and risk tolerance before investing in the Fund. The principal risks associated with an investment in the Fund include the following:

 

Equity Securities, Markets, and Investment Risks Generally. The Fund is subject to the broad risks associated with investing in equity securities markets generally, including, without limitation, the risks that the securities and markets in which the Fund invests may experience volatility and instability, that domestic and global economies and markets may undergo periods of cyclical change and decline, that investors may at times avoid investments in equity securities, and that the investment adviser may select investments for the Fund that do not perform as anticipated.

 

Foreign Investment Risk. Investments in foreign securities generally, and emerging markets in particular, may be riskier than U.S. investments for a variety of reasons such as, without limitation, unstable international, political and economic conditions, currency fluctuations, foreign controls on investment and currency exchange, foreign governmental control of some issuers, potential confiscatory taxation or nationalization of companies by foreign governments, sovereign solvency considerations, withholding taxes, a lack of adequate company information, less liquid and more volatile exchanges and/or markets, ineffective or detrimental government regulation, varying accounting standards, political or economic factors that may severely limit business activities, legal systems or market practices that may permit inequitable treatment of minority and/or non-domestic investors, immature economic structures, and less developed and more thinly-traded securities markets.

 

Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies not tightly pegged to the U.S. dollar.

 

Sector Risk. While the Fund does not have a principal investment strategy to focus its investments in any particular sector, the Fund from time to time may have significant exposure to one or more sectors, and in those circumstances would be subject to risks associated with those sectors. These include the risk that the stocks of multiple companies within a sector could simultaneously decline in price because of an event that affects the entire sector.

 

These and other risks (including risks associated with fixed and variable income securities) are discussed in more detail later in this Prospectus and in the Fund's Statement of Additional Information.

Risk Lose Money [Text] rr_RiskLoseMoney Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

PERFORMANCE

Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The following bar chart and table provide some indication of the risk of investing in the Fund. The bar chart shows changes in the Fund's performance from calendar year to year for the past ten years, together with the best and worst quarters during that time. The table shows how the Fund's average annual returns (before and after taxes) for the periods of one year, five years, ten years, and since inception, compared to those of a broad-based securities market index. All presentations assume reinvestment of dividends and distributions. As with all mutual funds, past performance (before and after taxes) is not necessarily an indication of future results.

 

You can obtain updated performance information on our website at marsicofunds.com, or by calling 888-860-8686.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table provide some indication of the risk of investing in the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 888-860-8686
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress marsicofunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture As with all mutual funds, past performance (before and after taxes) is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading

CALENDAR YEAR TOTAL RETURNS

Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter (09/30/09): 16.06%
Worst Quarter (12/31/08): -24.00%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 16.06%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (24.00%)
Performance Table Heading rr_PerformanceTableHeading

AVERAGE ANNUAL TOTAL RETURNS

(for periods ended 12/31/17)

Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates currently in effect and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Marsico Growth Fund | Marsico Growth Fund Shares  
Risk Return Abstract rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol MGRIX
Redemption Fee rr_RedemptionFee none
Management Fee rr_ManagementFeesOverAssets 0.80%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none [1]
Other Expenses rr_OtherExpensesOverAssets 0.37%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.17% [4]
Net Expenses rr_NetExpensesOverAssets 1.17% [4]
One Year rr_ExpenseExampleYear01 $ 119
Three Years rr_ExpenseExampleYear03 372
Five Years rr_ExpenseExampleYear05 644
Ten Years rr_ExpenseExampleYear10 $ 1,420
Annual Return 2008 rr_AnnualReturn2008 (42.83%)
Annual Return 2009 rr_AnnualReturn2009 29.36%
Annual Return 2010 rr_AnnualReturn2010 19.19%
Annual Return 2011 rr_AnnualReturn2011 (0.94%)
Annual Return 2012 rr_AnnualReturn2012 12.57%
Annual Return 2013 rr_AnnualReturn2013 35.24%
Annual Return 2014 rr_AnnualReturn2014 8.71%
Annual Return 2015 rr_AnnualReturn2015 0.83%
Annual Return 2016 rr_AnnualReturn2016 (5.08%)
Annual Return 2017 rr_AnnualReturn2017 31.11%
1 Year rr_AverageAnnualReturnYear01 31.11%
5 Years rr_AverageAnnualReturnYear05 13.03%
10 Years rr_AverageAnnualReturnYear10 6.13%
Since Inception rr_AverageAnnualReturnSinceInception 7.65%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 1997
Marsico Growth Fund | After Taxes on Distributions | Marsico Growth Fund Shares  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 28.30% [3]
5 Years rr_AverageAnnualReturnYear05 9.18% [3]
10 Years rr_AverageAnnualReturnYear10 4.20% [3]
Since Inception rr_AverageAnnualReturnSinceInception 6.58% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 1997 [3]
Marsico Growth Fund | After Taxes on Distributions and Sales | Marsico Growth Fund Shares  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 19.94% [3]
5 Years rr_AverageAnnualReturnYear05 9.70% [3]
10 Years rr_AverageAnnualReturnYear10 4.58% [3]
Since Inception rr_AverageAnnualReturnSinceInception 6.33% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 1997 [3]
Marsico Growth Fund | S&P 500 Index (reflects no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 21.83%
5 Years rr_AverageAnnualReturnYear05 15.79%
10 Years rr_AverageAnnualReturnYear10 8.50%
Since Inception rr_AverageAnnualReturnSinceInception 7.20%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 1997
Marsico 21st Century Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading

MARSICO 21st CENTURY FUND

Objective [Heading] rr_ObjectiveHeading

INVESTMENT OBJECTIVE

Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Marsico 21st Century Fund's goal is to seek long-term growth of capital.

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 generally pays transaction costs, such as brokerage 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 above, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 28% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 28.00%
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Restated to reflect current Distribution and Service (12b-1) Fee accrual rates. As of June 1, 2018, the Fund does not accrue 12b-1 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 to average net assets" provided in the Financial Highlights. The information in the Financial Highlights does not include the restatement of the Distribution and Service (12b-1) Fees applicable to the Fund to reflect the current Distribution and Service (12b-1) Fee rate for the entire fiscal year, which is reflected in the Distribution and Service (12b-1) Fees line item above, and does not include Acquired Fund Fees and Expenses, which are included in Other Expenses above.
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. This 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. 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

The Marsico 21st Century Fund is a "diversified" portfolio and invests primarily in common stocks that are selected for their long-term growth potential. The Fund may invest in companies of any size. The portions of Fund assets invested in large-capitalization, medium-capitalization, or small-capitalization companies (which are described further in "Some Defined Terms" later in the prospectus) will vary based on market conditions, depending on the portfolio manager's judgment as to how to achieve the Fund's investment objective. Under current market conditions the portfolio manager expects to invest substantially in medium-capitalization companies. The Fund will normally hold a core position of between 35 and 60 common stocks, but the number of securities held by the Fund may occasionally exceed this range at times such as when the investment adviser to the Fund, Marsico Capital Management, LLC (see "Management" below), is accumulating new positions, phasing out and replacing existing positions, or responding to exceptional market conditions.

 

In selecting investments for the Fund, the investment adviser uses an approach that emphasizes the selection of what the investment adviser believes are stocks of high-quality companies with compelling potential for long-term capital appreciation. The investment approach combines "top-down" macro-economic analysis with "bottom-up" company and security analysis. The "top-down" approach generally considers certain macro-economic factors to formulate the strategic backdrop for security selection. These factors may include, without limitation, interest rates, inflation, monetary policy, fiscal policy, trade policy, currency movements, demographic trends, the regulatory environment, and the global competitive landscape. The investment adviser may also examine other factors that may include, without limitation, the most attractive global investment opportunities, sector and industry trends, industry consolidation, and the sustainability of financial trends. Through this "top-down" analysis, the investment adviser seeks to create a strategic backdrop for actual portfolio construction by identifying sectors, industries and companies that may benefit from the overall trends the investment adviser has observed.

 

In the bottom-up analysis, the investment adviser looks for individual companies or securities (including, without limitation, equity securities and fixed or variable income securities) that are expected to offer earnings growth potential that may not be recognized by the market at large. In determining whether a particular company or security may be a suitable investment, the investment adviser may focus on any of a number of different attributes that may include, without limitation, the company's specific market expertise or dominance; its market share position, franchise durability, and pricing power; solid fundamentals (e.g., a strong balance sheet, improving profit margins and returns on equity, the ability to generate free cash flow, apparent use of conservative accounting standards, and transparent financial disclosure); strong and ethical management; commitment to shareholder interests; reasonable current valuations in the context of projected growth rates and peer group comparisons; current income; and other positive transformational catalysts or indications that a company or security may be an attractive investment prospect. This process is called "bottom-up" company and security analysis.

 

As part of this fundamental, "bottom-up" research, the investment adviser may visit a company's management, and conduct other research to gain thorough knowledge of the company. The investment adviser also may prepare detailed earnings and cash flow models of companies.

 

The core investments of the Fund (i.e., the primary investments held by the Fund over time) generally may include established companies and securities that are expected to offer long-term growth potential. However, the Fund's portfolio also may typically include securities of less mature companies, securities with more aggressive growth characteristics, and securities of companies undergoing positive, transformational change in their business model, such as, without limitation, the introduction of a new product, the appointment of a new management team, or a merger or acquisition.

 

The investment adviser may reduce or sell the Fund's investments in portfolio securities if, in the opinion of the investment adviser, a security's fundamentals change substantially, its price appreciation leads to overvaluation in relation to the investment adviser's estimates of future earnings and cash flow growth, the company appears unlikely to realize its growth potential or current income potential, more attractive investment opportunities appear elsewhere or for other reasons.

 

The Fund may invest without limitation in foreign securities further described in this Prospectus depending on market conditions. These securities may be traded in the U.S. or in foreign markets or both, and may be economically tied to emerging markets. The investment adviser generally selects foreign securities on a security-by-security basis based primarily on considerations such as growth potential rather than geographic location or similar considerations.

 

The investment adviser has discretion to hedge exposures to currencies, markets, interest rates and any other variables that could potentially affect returns to investors. The Fund may use derivative investments or instruments such as futures, options, swaps, or forward currency contracts to attempt to hedge the Fund's portfolio, or to serve other investment purposes as discussed further in this Prospectus under "More Information about the Funds." The Fund is not intended as a vehicle for investing substantially in derivatives, and tends to hold such investments only infrequently. The Fund is not required to hedge its investments and historically has rarely done so.

Risk [Heading] rr_RiskHeading

PRINCIPAL INVESTMENT RISKS

Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund. The Fund's share price and total return will fluctuate. You should consider your own investment goals, time horizon and risk tolerance before investing in the Fund. The principal risks associated with an investment in the Fund include the following:

 

Equity Securities, Markets, and Investment Risks Generally. The Fund is subject to the broad risks associated with investing in equity securities markets generally, including, without limitation, the risks that the securities and markets in which the Fund invests may experience volatility and instability, that domestic and global economies and markets may undergo periods of cyclical change and decline, that investors may at times avoid investments in equity securities, and that the investment adviser may select investments for the Fund that do not perform as anticipated.

 

Risks of Small- and Medium-Capitalization Company Investing. The Fund's investments in small-capitalization and medium-capitalization companies can involve more risk than its investments in large-capitalization companies because smaller companies have potentially greater sensitivity to adverse business or economic conditions. Normally, smaller companies may have more limited financial resources, markets or product lines, less access to capital markets, and more limited trading in their stocks. This can cause the prices of equity securities of these companies to be more volatile than those of larger capitalization companies, or to decline more significantly during market downturns than the market as a whole.

 

Foreign Investment Risk. Investments in foreign securities generally, and emerging markets in particular, may be riskier than U.S. investments for a variety of reasons such as, without limitation, unstable international, political and economic conditions, currency fluctuations, foreign controls on investment and currency exchange, foreign governmental control of some issuers, potential confiscatory taxation or nationalization of companies by foreign governments, sovereign solvency considerations, withholding taxes, a lack of adequate company information, less liquid and more volatile exchanges and/or markets, ineffective or detrimental government regulation, varying accounting standards, political or economic factors that may severely limit business activities, legal systems or market practices that may permit inequitable treatment of minority and/or non-domestic investors, immature economic structures, and less developed and more thinly-traded securities markets.

 

Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies not tightly pegged to the U.S. dollar.

 

Sector Risk. While the Fund does not have a principal investment strategy to focus its investments in any particular sector, the Fund from time to time may have significant exposure to one or more sectors, and in those circumstances would be subject to risks associated with those sectors. These include the risk that the stocks of multiple companies within a sector could simultaneously decline in price because of an event that affects the entire sector.

 

These and other risks (including risks associated with fixed and variable income securities) are discussed in more detail later in this Prospectus and in the Fund's Statement of Additional Information.

Risk Lose Money [Text] rr_RiskLoseMoney Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Your investment in the Fund is not guaranteed by any agency or program of the U.S. government or by any other person or entity, and you could lose money investing in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

PERFORMANCE

Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The following bar chart and table provide some indication of the risk of investing in the Fund. The bar chart shows changes in the Fund's performance from calendar year to year for the past ten years, together with the best and worst quarters during that time. The table shows how the Fund's average annual returns (before and after taxes) for the periods of one year, five years, ten years, and since inception, compared to those of a broad-based securities market index. Effective January 31, 2018, the Russell Midcap Growth Index was made the primary benchmark index of the Fund because under current market conditions the Fund is invested substantially in medium-capitalization securities, and the S&P 500 Index was made a supplemental benchmark index. The Russell Midcap Growth Index is an index composed of mid-capitalization U.S. equities that exhibit growth characteristics. All presentations assume reinvestment of dividends and distributions. As with all mutual funds, past performance (before and after taxes) is not necessarily an indication of future results.

 

You can obtain updated performance information on our website at marsicofunds.com, or by calling 888-860-8686.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table provide some indication of the risk of investing in the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 888-860-8686
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress marsicofunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture As with all mutual funds, past performance (before and after taxes) is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading

CALENDAR YEAR TOTAL RETURNS

Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter (06/30/09): 20.85%
Worst Quarter (12/31/08): -25.76%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 20.85%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (25.76%)
Performance Table Heading rr_PerformanceTableHeading

AVERAGE ANNUAL TOTAL RETURNS

(for periods ended 12/31/17)

Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates currently in effect and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Marsico 21st Century Fund | Marsico 21st Century Fund Shares  
Risk Return Abstract rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol MXXIX
Redemption Fee rr_RedemptionFee none
Management Fee rr_ManagementFeesOverAssets 0.80%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none [1]
Other Expenses rr_OtherExpensesOverAssets 0.36%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.16% [2]
Net Expenses rr_NetExpensesOverAssets 1.16% [2]
One Year rr_ExpenseExampleYear01 $ 118
Three Years rr_ExpenseExampleYear03 368
Five Years rr_ExpenseExampleYear05 638
Ten Years rr_ExpenseExampleYear10 $ 1,409
Annual Return 2008 rr_AnnualReturn2008 (45.22%)
Annual Return 2009 rr_AnnualReturn2009 28.05%
Annual Return 2010 rr_AnnualReturn2010 16.98%
Annual Return 2011 rr_AnnualReturn2011 (12.06%)
Annual Return 2012 rr_AnnualReturn2012 11.56%
Annual Return 2013 rr_AnnualReturn2013 41.96%
Annual Return 2014 rr_AnnualReturn2014 8.51%
Annual Return 2015 rr_AnnualReturn2015 0.23%
Annual Return 2016 rr_AnnualReturn2016 (1.85%)
Annual Return 2017 rr_AnnualReturn2017 30.05%
1 Year rr_AverageAnnualReturnYear01 30.05%
5 Years rr_AverageAnnualReturnYear05 14.53%
10 Years rr_AverageAnnualReturnYear10 4.72%
Since Inception rr_AverageAnnualReturnSinceInception 6.14%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 01, 2000
Marsico 21st Century Fund | After Taxes on Distributions | Marsico 21st Century Fund Shares  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 30.05% [3]
5 Years rr_AverageAnnualReturnYear05 14.53% [3]
10 Years rr_AverageAnnualReturnYear10 4.72% [3]
Since Inception rr_AverageAnnualReturnSinceInception 6.07% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 01, 2000 [3]
Marsico 21st Century Fund | After Taxes on Distributions and Sales | Marsico 21st Century Fund Shares  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 17.01% [3]
5 Years rr_AverageAnnualReturnYear05 11.71% [3]
10 Years rr_AverageAnnualReturnYear10 3.76% [3]
Since Inception rr_AverageAnnualReturnSinceInception 5.11% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 01, 2000 [3]
Marsico 21st Century Fund | Russell Midcap Growth Index (reflects no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 25.27%
5 Years rr_AverageAnnualReturnYear05 15.30%
10 Years rr_AverageAnnualReturnYear10 9.10%
Since Inception rr_AverageAnnualReturnSinceInception 5.74%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 01, 2000
Marsico 21st Century Fund | S&P 500 Index (reflects no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 21.83%
5 Years rr_AverageAnnualReturnYear05 15.79%
10 Years rr_AverageAnnualReturnYear10 8.50%
Since Inception rr_AverageAnnualReturnSinceInception 5.67%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 01, 2000
[1] Restated to reflect current Distribution and Service (12b-1) Fee accrual rates. As of June 1, 2018, the Fund does not accrue 12b-1 Fees.
[2] Total Annual Fund Operating Expenses do not correlate to the "ratio of expenses to average net assets" provided in the Financial Highlights. The information in the Financial Highlights does not include the restatement of the Distribution and Service (12b-1) Fees applicable to the Fund to reflect the current Distribution and Service (12b-1) Fee rate for the entire fiscal year, which is reflected in the Distribution and Service (12b-1) Fees line item above, and does not include Acquired Fund Fees and Expenses, which are included in Other Expenses above.
[3] After-tax returns are calculated using the historical highest individual federal marginal income tax rates currently in effect and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
[4] Total Annual Fund Operating Expenses do not correlate to the "ratio of expenses to average net assets" provided in the Financial Highlights. The information in the Financial Highlights does not include the restatement of the Distribution and Service (12b-1) Fees applicable to the Fund to reflect the current Distribution and Service (12b-1) Fee rate for the entire fiscal year, which is reflected in the Distribution and Service (12b-1) Fees line item above.
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