0000894189-12-005780.txt : 20121010 0000894189-12-005780.hdr.sgml : 20121010 20121010143421 ACCESSION NUMBER: 0000894189-12-005780 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121010 DATE AS OF CHANGE: 20121010 EFFECTIVENESS DATE: 20121010 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRUST FOR PROFESSIONAL MANAGERS CENTRAL INDEX KEY: 0001141819 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-10401 FILM NUMBER: 121137439 BUSINESS ADDRESS: STREET 1: U.S. BANCORP FUND SERVICES LLC STREET 2: 615 EAST MICHIGAN ST 2ND FLOOR CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 4147655067 MAIL ADDRESS: STREET 1: U.S. BANCORP FUND SERVICES LLC STREET 2: 615 EAST MICHIGAN ST 2ND FLOOR CITY: MILWAUKEE STATE: WI ZIP: 53202 FORMER COMPANY: FORMER CONFORMED NAME: ZODIAC TRUST DATE OF NAME CHANGE: 20010601 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRUST FOR PROFESSIONAL MANAGERS CENTRAL INDEX KEY: 0001141819 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-62298 FILM NUMBER: 121137440 BUSINESS ADDRESS: STREET 1: U.S. BANCORP FUND SERVICES LLC STREET 2: 615 EAST MICHIGAN ST 2ND FLOOR CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 4147655067 MAIL ADDRESS: STREET 1: U.S. BANCORP FUND SERVICES LLC STREET 2: 615 EAST MICHIGAN ST 2ND FLOOR CITY: MILWAUKEE STATE: WI ZIP: 53202 FORMER COMPANY: FORMER CONFORMED NAME: ZODIAC TRUST DATE OF NAME CHANGE: 20010601 0001141819 S000028264 Jensen Quality Value Fund C000086400 Jensen Quality Value Fund - I Shares JNVIX C000086401 Jensen Quality Value Fund - J Shares JNVSX 485BPOS 1 jnsnvlutpm-485b_xbrl.htm POST EFFECTIVE AMENDMENT (XBRL) Unassociated Document
As filed with the Securities and Exchange Commission on October 10, 2012
1933 Act Registration File No. 333-62298
1940 Act File No. 811-10401

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-1A
 
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
[X]
Pre-Effective Amendment No.
   
[   ]
Post-Effective Amendment No.
343
 
[X]

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
[X]
Amendment No.
345
 
[X]
 
 
TRUST FOR PROFESSIONAL MANAGERS
(Exact Name of Registrant as Specified in Charter)

615 East Michigan Street
Milwaukee, Wisconsin 53202
(Address of Principal Executive Offices) (Zip Code)
 (Registrant’s Telephone Number, including Area Code) (414) 287-3338

Rachel A. Spearo, Esq.
U.S. Bancorp Fund Services, LLC
615 East Michigan Street, 2nd Floor
Milwaukee, Wisconsin 53202
(Name and Address of Agent for Service)

Copies to:
Carol A. Gehl, Esq.
Godfrey & Kahn, S.C.
780 North Water Street
Milwaukee, Wisconsin 53202
(414) 273-3500

It is proposed that this filing will become effective (check appropriate box)

[X]
Immediately upon filing pursuant to Rule 485(b).
[   ]
on (date) pursuant to Rule 485(b).
[   ]
on (date) pursuant to Rule 485(a)(1).
[   ]
60 days after filing pursuant to Rule 485 (a)(1).
[   ]
75 days after filing pursuant to Rule 485 (a)(2).
[   ]
on (date) pursuant to Rule 485(a)(2).

If appropriate, check the following box:

[X]
 
This PEA No. 343 hereby incorporates Parts A, B and C from the Fund’s PEA No. 335 on Form N-1A filed September 24, 2012.  This PEA No. 343 is filed for the sole purpose of submitting the XBRL exhibit for the risk/return summary first provided in PEA No. 335.
 
 
 
1

 
 
 
SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, (the “Act”) and the Investment Company Act of 1940, as amended, the Registrant certifies that this Post-Effective Amendment No. 343 to its Registration Statement meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Act and the Registrant has duly caused this Post-Effective Amendment No. 343 to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the County of Milwaukee and State of Wisconsin, on the 10th day of October, 2012.


TRUST FOR PROFESSIONAL MANAGERS

By:  /s/ John P. Buckel
John P. Buckel
Vice President, Treasurer and Principal Accounting Officer


Pursuant to the requirements of the Securities Act of 1933, as amended, this Post-Effective Amendment No. 343 to its Registration Statement has been signed below on October 10, 2012, by the following persons in the capacities indicated.

Signature
 
Title
Joseph C. Neuberger*
Joseph C. Neuberger
 
Chairperson, President and Trustee
Dr. Michael D. Akers*
Dr. Michael D. Akers
 
Independent Trustee
Gary A. Drska*
Gary A. Drska
 
Independent Trustee
Jonas B. Siegel*
Jonas B. Siegel
 
Independent Trustee
* By:     /s/ John Buckel                                                     
 
 
John Buckel
*Attorney-in-Fact pursuant to Power of Attorney
previously filed with Registrant’s Post-Effective
Amendment No. 289 to its Registration Statement
on Form N-1A with the SEC on February 15, 2012,
and is incorporated by reference.
 
 
 
 

 

 
EXHIBIT INDEX


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



3

EX-101.INS 2 ck0001141819-20120531.xml INSTANCE DOCUMENT 485BPOS 2012-05-31 0001141819 2012-09-30 TRUST FOR PROFESSIONAL MANAGERS false 2012-09-24 2012-09-30 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These transaction costs, and potentially<br />higher taxes, which are not reflected in the annual fund operating expenses or<br />in the Example affect the Fund's performance. For the fiscal year ended May 31,<br />2012, the Fund's portfolio turnover rate was 116.74% of the average value of its<br />portfolio.</tt> <div style="display:none">~ http://www.jenseninvestment.com/role/ExpenseExample_S000028264Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jenseninvestment.com/role/BarChartData_S000028264Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The objective of the Fund is long-term capital appreciation.</tt> <tt>This Example is intended to help you compare the costs of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same. The fee waiver/expense reimbursement arrangement discussed <br />in the table above is reflected only through September 30, 2013.</tt> reflects no deductions for fees, expenses, or taxes <tt>To achieve its objective, the Fund invests in equity securities of companies<br />that satisfy the investment criteria described below. These companies are<br />selected from a universe of companies that have produced long-term records of<br />persistently high returns on shareholder equity. In order to qualify for this<br />universe, each company must have a market capitalization of $1 billion or more,<br />and a "return on equity" of 15% or greater in each of the last 10 years as<br />determined by the Adviser (which for example, may include companies with<br />negative equity resulting from debt-financing of large share repurchases). <br />Equity securities in which the Fund may invest as a principal strategy <br />consist primarily of common stocks of U.S. companies. The Adviser determines <br />the companies that qualify for inclusion in the Fund's investable universe on <br />an annual basis.<br /><br />The Fund's investment strategy is based on applying quantitative factors to this<br />select universe of companies that are rooted in fundamentally-based investment<br />principles. Underpinnings of the Adviser's investment philosophy are embedded in<br />academic research, the Adviser's history as an investor, and extensive back-testing <br />of the investment universe. The qualifying universe and the factors derived from <br />the back-testing focus upon the long-term, past results of the companies and the <br />expected long-term future results of their stocks. The factors employed reflect <br />the consistency of a company's performance, its operating efficiency and the <br />valuation of its stock.<br /> <br />The Fund will sell an investment when the Adviser's quarterly screening and<br />ranking of all qualifying companies indicates that the company has dropped from<br />the top third of the Fund's investment universe, subject to the portfolio's<br />optimization to the Russell 3000 Value Index. A company will also be sold if <br />its fundamentals deteriorate, lowering its "return on equity" below 15%.<br /> <br />The Fund strives to be fully invested at all times in publicly traded common<br />stocks and other eligible equity securities issued by companies that meet the<br />investment criteria described in this Prospectus. The Adviser may from time to<br />time engage in active trading of the Fund's portfolio investments to achieve the<br />Fund's investment objective.</tt> Jensen Quality Value Fund Please note that the Total Annual Fund Operating Expenses in the table above do not correlate to the Ratio of Expenses to Average Net Assets found within the "Financial Highlights" section of the prospectus, which do not include the acquired fund fees and expenses. Example After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. INVESTMENT OBJECTIVE The Fund's past performance information, both before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Remember, in addition to possibly not achieving your investment goals, you could lose money by investing in the Fund. PRINCIPAL RISKS OF INVESTING IN THE FUND Shareholder Fees (fees paid directly from your investment) None Although your actual costs may be higher or lower, based on these assumptions, your costs would be: In certain cases, the figure representing "Return After Taxes on Distributions and Sale of Fund Shares" may be higher than the other return figures for the same period. 1.1674 Actual after-tax returns depend on each investor's individual tax situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts ("IRAs"). Jensen Quality Value Fund - Class I Shares Annual Total Return as of December 31, 2011 PERFORMANCE <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Actual after-tax returns depend on each investor's individual tax<br />situation and may differ from those shown. Furthermore, the after-tax returns<br />shown are not relevant to those who hold their shares through tax-deferred<br />arrangements such as 401(k) plans or individual retirement accounts ("IRAs"). <br />In certain cases, the figure representing "Return After Taxes on Distributions <br />and Sale of Fund Shares" may be higher than the other return figures for the <br />same period. A higher after-tax return results when a capital loss occurs upon<br />redemption and provides an assumed tax deduction that benefits the investor.</tt> The performance information demonstrates the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual total returns for the one year and since inception periods compare with those of a broad measure of market performance. <tt>The Fund's calendar year-to-date return as of June 30, 2012 was 4.90%. During<br />the period of time shown in the bar chart, the Fund's highest quarterly return<br />was 9.23% for the quarter ended December 31, 2011, and the lowest quarterly<br />return was -13.95% for the quarter ended September 30, 2011.</tt> 800-992-4144 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns For the Periods Ended December 31, 2011 Portfolio Turnover <tt>Before investing in the Fund, you should carefully consider your own investment<br />goals, the amount of time you are willing to leave your money invested, and the<br />amount of risk you are willing to take. Remember, in addition to possibly not<br />achieving your investment goals, you could lose money by investing in the<br />Fund. The principal risks of investing in this Fund are:<br /> <br />o Stock Market Risk<br />&#xA0;&#xA0;<br />The market value of stocks held by the Fund may decline over a short, or even an<br />extended period of time, resulting in a decrease in the value of a shareholder's<br />investment.<br /> <br />o Management Risk<br />&#xA0;&#xA0;<br />The quantitative process used by the Adviser to select securities for the Fund's<br />investment portfolio may not prove effective in that the investments chosen by<br />the Adviser may not perform as anticipated. Certain risks are inherent in the<br />ownership of any security, and there is no assurance that the Fund's investment<br />objective will be achieved.<br /> <br />o&#xA0;&#xA0;Company and Sector Risk<br />&#xA0;&#xA0;<br />The Fund's investment strategy requires that a company selected for investment<br />must, among other criteria and in the determination of the Adviser, have<br />attained a return on equity of at least 15% per year for each of the prior 10<br />years. Because of the relatively limited number of companies that have achieved<br />this strong level of consistent, long term business performance, the Fund at<br />times is prohibited from investing in certain companies and sectors that may be<br />experiencing a shorter-term period of robust earnings growth. As a result, the<br />Fund's performance may trail the overall market over a short or extended period<br />of time compared to what its performance may have been if the Fund was able to<br />invest in such rapidly growing, non-qualifying companies.<br /> <br />o Large-Cap Company Risk<br />&#xA0;&#xA0;<br />Larger, more established companies may be unable to respond quickly to new<br />competitive challenges such as changes in consumer tastes or innovative smaller<br />competitors. Also, large-cap companies are sometimes unable to attain the high<br />growth rates of successful, smaller companies, especially during extended<br />periods of economic expansion.<br /><br />o Small-and Mid-Cap Company Risk<br />&#xA0;&#xA0;<br />The securities of small-cap and mid-cap companies may be more volatile and less<br />liquid than the securities of large-cap companies.<br /> <br />o&#xA0;&#xA0;Portfolio Turnover Risk<br />&#xA0;&#xA0;<br />The Fund may trade actively and therefore experience a portfolio turnover rate<br />of over 100%. High portfolio turnover is likely to lead to increased Fund<br />expenses, including brokerage commissions and other transaction costs. A high<br />portfolio turnover rate may also result in more short-term capital gains taxable<br />to shareholders at ordinary income rates. High portfolio turnover, as a result,<br />may lead to lower after-tax investment returns.<br /> <br />Investment Suitability<br />The Fund is designed for long-term investors who are willing to accept<br />short-term market price fluctuations.</tt> FEES AND EXPENSES OF THE FUND PRINCIPAL INVESTMENT STRATEGIES www.jenseninvestment.com <tt>The performance information demonstrates the risks of investing in the Fund by<br />showing changes in the Fund's performance from year to year and by showing how<br />the Fund's average annual total returns for the one year and since inception<br />periods compare with those of a broad measure of market performance. The Fund's<br />past performance information, both before and after taxes, is not necessarily an<br />indication of how the Fund will perform in the future. Updated performance<br />information is available on the Fund's website at www.jenseninvestment.com, or<br />by calling the Fund toll-free at 800-992-4144.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Class I shares of the Fund.</tt> <div style="display:none">~ http://www.jenseninvestment.com/role/OperatingExpensesData_S000028264Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jenseninvestment.com/role/PerformanceTableData_S000028264Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> Russell 3000® Value Total Return Index (reflects no deductions for fees, expenses, or taxes) -0.0010 0.0474 2010-03-31 Return After Taxes on Distributions and Sale of Fund Shares 0.0271 0.0261 2010-03-31 Return After Taxes on Distributions 0.0113 0.0243 2010-03-31 JNVIX lowest quarterly return highest quarterly return 2012-06-30 Return Before Taxes 0.0010 112 2011-12-31 489 -0.1395 -0.0078 2115 918 0.0923 0.0237 0.0103 0.0075 2013-09-30 2011-09-30 year-to-date return 0.0237 0.0110 0.0188 0.0321 2010-03-31 0.0490 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These transaction costs, and potentially<br />higher taxes, which are not reflected in the annual fund operating expenses or<br />in the Example affect the Fund's performance. For the year ended May 31, 2012,<br />the Fund's portfolio turnover rate was 116.74% of the average value of its<br />portfolio.</tt> <div style="display:none">~ http://www.jenseninvestment.com/role/ExpenseExample_S000028264Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jenseninvestment.com/role/BarChartData_S000028264Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The objective of the Fund is long-term capital appreciation.</tt> <tt>This Example is intended to help you compare the costs of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same. The fee waiver/expense reimbursement arrangement discussed <br />in the table above is reflected only through September 30, 2013.</tt> reflects no deductions for fees, expenses, or taxes <tt>To achieve its objective, the Fund invests in equity securities of companies<br />that satisfy the investment criteria described below. These companies are<br />selected from a universe of companies that have produced long-term records of<br />persistently high returns on shareholder equity. In order to qualify for this<br />universe, each company must have a market capitalization of $1 billion or more,<br />and a "return on equity" of 15% or greater in each of the last 10 years as<br />determined by the Adviser (which for example, may include companies with<br />negative equity resulting from debt-financing of large share repurchases). <br />Equity securities in which the Fund may invest as a principal strategy consist <br />primarily of common stocks of U.S. companies. The Adviser determines the companies <br />that qualify for inclusion in the Fund's investable universe on an annual basis.<br /><br />The Fund's investment strategy is based on applying quantitative factors to this<br />select universe of companies that are rooted in fundamentally-based investment<br />principles. Underpinnings of the Adviser's investment philosophy are embedded in<br />academic research, the Adviser's history as an investor, and extensive back-testing <br />of the investment universe. The qualifying universe and the factors derived from the <br />back-testing focus upon the long-term, past results of the companies and the expected <br />long-term future results of their stocks. The factors employed reflect the consistency <br />of a company's performance, its operating efficiency and the valuation of its stock.<br /> <br />The Fund will sell an investment when the Adviser's quarterly screening and ranking <br />of all qualifying companies indicates that the company has dropped from the top third <br />of the Fund's investment universe, subject to the portfolio's optimization to the <br />Russell 3000 Value Index. A company will also be sold if its fundamentals deteriorate, <br />lowering its "return on equity" below 15%.<br /> <br />The Fund strives to be fully invested at all times in publicly traded common<br />stocks and other eligible equity securities issued by companies that meet the<br />investment criteria described in this Prospectus. The Adviser may from time to<br />time engage in active trading of the Fund's portfolio investments to achieve the<br />Fund's investment objective.</tt> Jensen Quality Value Fund Example After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. INVESTMENT OBJECTIVE The Fund's past performance information, both before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Remember, in addition to possibly not achieving your investment goals, you could lose money by investing in the Fund. PRINCIPAL RISKS OF INVESTING IN THE FUND Shareholder Fees (fees paid directly from your investment) None Although your actual costs may be higher or lower, based on these assumptions, your costs would be: In certain cases, the figure representing "Return After Taxes on Distributions and Sale of Fund Shares" may be higher than the other return figures for the same period. 1.1674 Actual after-tax returns depend on each investor's individual tax situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts ("IRAs"). Jensen Quality Value Fund - Class J Shares Annual Total Return as of December 31, 2011 PERFORMANCE <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Actual after-tax returns depend on each investor's individual tax<br />situation and may differ from those shown. Furthermore, the after-tax returns<br />shown are not relevant to those who hold their shares through tax-deferred<br />arrangements such as 401(k) plans or individual retirement accounts ("IRAs"). <br />In certain cases, the figure representing "Return After Taxes on Distributions <br />and Sale of Fund Shares" may be higher than the other return figures for the <br />same period. A higher after-tax return results when a capital loss occurs upon<br />redemption and provides an assumed tax deduction that benefits the investor.</tt> The performance information demonstrates the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual total returns for the one year and since inception periods compare with those of a broad measure of market performance. <tt>The Fund's calendar year-to-date return as of June 30, 2012 was 4.90%. During<br />the period of time shown in the bar chart, the Fund's highest quarterly return<br />was 9.17% for the quarter ended December 31, 2011, and the lowest quarterly<br />return was -13.99% for the quarter ended September 30, 2011.</tt> 800-992-4144 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns For the Periods Ended December 31, 2011 Portfolio Turnover <tt>Before investing in the Fund, you should carefully consider your own investment<br />goals, the amount of time you are willing to leave your money invested, and the<br />amount of risk you are willing to take. Remember, in addition to possibly not<br />achieving your investment goals, you could lose money by investing in the<br />Fund. The principal risks of investing in this Fund are:<br /> <br />o Stock Market Risk<br />&#xA0;&#xA0;<br />The market value of stocks held by the Fund may decline over a short, or even an<br />extended period of time, resulting in a decrease in the value of a shareholder's<br />investment.<br /> <br />o Management Risk<br />&#xA0;&#xA0;<br />The quantitative process used by the Adviser to select securities for the Fund's<br />investment portfolio may not prove effective in that the investments chosen by<br />the Adviser may not perform as anticipated. Certain risks are inherent in the<br />ownership of any security, and there is no assurance that the Fund's investment<br />objective will be achieved.<br /> <br />o Company and Sector Risk<br />&#xA0;&#xA0;<br />The Fund's investment strategy requires that a company selected for investment<br />must, among other criteria and in the determination of the Adviser, have<br />attained a return on equity of at least 15% per year for each of the prior 10<br />years. Because of the relatively limited number of companies that have achieved<br />this strong level of consistent, long term business performance, the Fund at<br />times is prohibited from investing in certain companies and sectors that may be<br />experiencing a shorter-term period of robust earnings growth. As a result, the<br />Fund's performance may trail the overall market over a short or extended period<br />of time compared to what its performance may have been if the Fund was able to<br />invest in such rapidly growing, non-qualifying companies.<br /> <br />o Large-Cap Company Risk<br />&#xA0;&#xA0;<br />Larger, more established companies may be unable to respond quickly to new<br />competitive challenges such as changes in consumer tastes or innovative smaller<br />competitors. Also, large-cap companies are sometimes unable to attain the high<br />growth rates of successful, smaller companies, especially during extended<br />periods of economic expansion.<br /> <br />o Small-and Mid-Cap Company Risk<br /> <br />The securities of small-cap and mid-cap companies may be more volatile and less<br />liquid than the securities of large-cap companies.<br /><br />o Portfolio Turnover Risk<br />&#xA0;&#xA0;<br />The Fund may trade actively and therefore experience a portfolio turnover rate<br />of over 100%. High portfolio turnover is likely to lead to increased Fund<br />expenses, including brokerage commissions and other transaction costs. A high<br />portfolio turnover rate may also result in more short-term capital gains taxable<br />to shareholders at ordinary income rates. High portfolio turnover, as a result,<br />may lead to lower after-tax investment returns.<br /> <br />Investment Suitability<br />The Fund is designed for long-term investors who are willing to accept<br />short-term market price fluctuations.</tt> FEES AND EXPENSES OF THE FUND PRINCIPAL INVESTMENT STRATEGIES www.jenseninvestment.com <tt>The performance information demonstrates the risks of investing in the Fund by<br />showing changes in the Fund's performance from year to year and by showing how<br />the Fund's average annual total returns for the one year and since inception<br />periods compare with those of a broad measure of market performance. The Fund's<br />past performance information, both before and after taxes, is not necessarily <br />an indication of how the Fund will perform in the future. Updated performance<br />information is available on the Fund's website at www.jenseninvestment.com, or<br />by calling the Fund toll-free at 800-992-4144.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Class J shares of the Fund.</tt> <div style="display:none">~ http://www.jenseninvestment.com/role/OperatingExpensesData_S000028264Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jenseninvestment.com/role/PerformanceTableData_S000028264Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> Russell 3000® Value Total Return Index (reflects no deductions for fees, expenses, or taxes) -0.0010 0.0474 2010-03-31 Return After Taxes on Distributions and Sale of Fund Shares 0.0256 0.0243 2010-03-31 Return After Taxes on Distributions 0.0099 0.0225 2010-03-31 JNVSX lowest quarterly return highest quarterly return 2012-06-30 Return Before Taxes 127 2011-12-31 544 -0.1399 -0.0083 2321 1016 0.0917 0.0220 0.0108 0.0075 2013-09-30 2011-09-30 year-to-date return 0.0220 0.0025 0.0125 0.0208 0.0300 2010-03-31 0.0490 0001141819 ck0001141819:SummaryS000028264-1Memberck0001141819:S000028264Memberck0001141819:C000086401Member 2012-09-30 2012-09-30 0001141819 ck0001141819:SummaryS000028264-1Memberck0001141819:S000028264Memberrr:AfterTaxesOnDistributionsMemberck0001141819:C000086401Member 2012-09-30 2012-09-30 0001141819 ck0001141819:SummaryS000028264-1Memberck0001141819:S000028264Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0001141819:C000086401Member 2012-09-30 2012-09-30 0001141819 ck0001141819:SummaryS000028264-1Memberck0001141819:S000028264Memberck0001141819:RRINDEX00001Member 2012-09-30 2012-09-30 0001141819 ck0001141819:SummaryS000028264-1Memberck0001141819:S000028264Member 2012-09-30 2012-09-30 0001141819 ck0001141819:SummaryS000028264-2Memberck0001141819:S000028264Memberck0001141819:C000086400Member 2012-09-30 2012-09-30 0001141819 ck0001141819:SummaryS000028264-2Memberck0001141819:S000028264Memberrr:AfterTaxesOnDistributionsMemberck0001141819:C000086400Member 2012-09-30 2012-09-30 0001141819 ck0001141819:SummaryS000028264-2Memberck0001141819:S000028264Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0001141819:C000086400Member 2012-09-30 2012-09-30 0001141819 ck0001141819:SummaryS000028264-2Memberck0001141819:S000028264Memberck0001141819:RRINDEX00001Member 2012-09-30 2012-09-30 0001141819 ck0001141819:SummaryS000028264-2Memberck0001141819:S000028264Member 2012-09-30 2012-09-30 0001141819 2012-09-30 2012-09-30 pure iso4217:USD Pursuant to an operating expense limitation agreement between the Fund's investment adviser, Jensen Investment Management, Inc. (the "Adviser"), and the Fund, the Adviser has agreed to waive its management fees and/or reimburse expenses of the Fund to ensure that Total Annual Fund Operating Expenses do not exceed 1.25% of the Fund's average net assets attributable to Class J shares through September 30, 2013. This operating expense limitation agreement can be terminated only by, or with the consent of, the Trust's Board of Trustees (the "Board of Trustees"). The Adviser is permitted to be reimbursed for management fee reductions and/or expense payments made in the prior three fiscal years, subject to the limitation on the Fund's expenses described herein. Please note that the Total Annual Fund Operating Expenses in the table above do not correlate to the Ratio of Expenses to Average Net Assets found within the "Financial Highlights" section of the prospectus, which do not include the acquired fund fees and expenses. Pursuant to an operating expense limitation agreement between the Fund's investment adviser, Jensen Investment Management, Inc. (the "Adviser"), and the Fund, the Adviser has agreed to waive its management fees and/or reimburse expenses of the Fund to ensure that Total Annual Fund Operating Expenses do not exceed 1.10% of the Fund's average net assets attributable to Class I shares through September 30, 2013. This operating expense limitation agreement can be terminated only by, or with the consent of, the Trust's Board of Trustees (the "Board of Trustees"). The Adviser is permitted to be reimbursed for management fee reductions and/or expense payments made in the prior three fiscal years, subject to the limitation on the Fund's expenses described herein. 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Jensen Quality Value Fund (Second Prospectus Summary) | Jensen Quality Value Fund
Jensen Quality Value Fund
INVESTMENT OBJECTIVE
The objective of the Fund is long-term capital appreciation.
FEES AND EXPENSES OF THE FUND
This table describes the fees and expenses that you may pay if you buy and hold
Class I shares of the Fund.
Shareholder Fees (fees paid directly from your investment) None
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Jensen Quality Value Fund
Jensen Quality Value Fund - I Shares
Management Fees 0.75%
Shareholder Servicing Fees 0.10%
Other Expenses 1.03%
Total Annual Fund Operating Expenses [1] 1.88%
Fee Waiver/Expense Reimbursements (0.78%)
Total Annual Fund Operating Expenses after Fee Waiver/Expense Reimbursements [2] 1.10%
[1] Please note that the Total Annual Fund Operating Expenses in the table above do not correlate to the Ratio of Expenses to Average Net Assets found within the "Financial Highlights" section of the prospectus, which do not include the acquired fund fees and expenses.
[2] Pursuant to an operating expense limitation agreement between the Fund's investment adviser, Jensen Investment Management, Inc. (the "Adviser"), and the Fund, the Adviser has agreed to waive its management fees and/or reimburse expenses of the Fund to ensure that Total Annual Fund Operating Expenses do not exceed 1.10% of the Fund's average net assets attributable to Class I shares through September 30, 2013. This operating expense limitation agreement can be terminated only by, or with the consent of, the Trust's Board of Trustees (the "Board of Trustees"). The Adviser is permitted to be reimbursed for management fee reductions and/or expense payments made in the prior three fiscal years, subject to the limitation on the Fund's expenses described herein.
Example
This Example is intended to help you compare the costs of investing in the Fund
with the cost of investing in other mutual funds. The Example assumes that you
invest $10,000 in the Fund for the time periods indicated and then redeem all
of your shares at the end of those periods. The Example also assumes that your
investment has a 5% return each year and that the Fund's operating expenses
remain the same. The fee waiver/expense reimbursement arrangement discussed
in the table above is reflected only through September 30, 2013.
Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Expense Example (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Jensen Quality Value Fund Jensen Quality Value Fund - I Shares
112 489 918 2,115
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes when Fund
shares are held in a taxable account. These transaction costs, and potentially
higher taxes, which are not reflected in the annual fund operating expenses or
in the Example affect the Fund's performance. For the fiscal year ended May 31,
2012, the Fund's portfolio turnover rate was 116.74% of the average value of its
portfolio.
PRINCIPAL INVESTMENT STRATEGIES
To achieve its objective, the Fund invests in equity securities of companies
that satisfy the investment criteria described below. These companies are
selected from a universe of companies that have produced long-term records of
persistently high returns on shareholder equity. In order to qualify for this
universe, each company must have a market capitalization of $1 billion or more,
and a "return on equity" of 15% or greater in each of the last 10 years as
determined by the Adviser (which for example, may include companies with
negative equity resulting from debt-financing of large share repurchases).
Equity securities in which the Fund may invest as a principal strategy
consist primarily of common stocks of U.S. companies. The Adviser determines
the companies that qualify for inclusion in the Fund's investable universe on
an annual basis.

The Fund's investment strategy is based on applying quantitative factors to this
select universe of companies that are rooted in fundamentally-based investment
principles. Underpinnings of the Adviser's investment philosophy are embedded in
academic research, the Adviser's history as an investor, and extensive back-testing
of the investment universe. The qualifying universe and the factors derived from
the back-testing focus upon the long-term, past results of the companies and the
expected long-term future results of their stocks. The factors employed reflect
the consistency of a company's performance, its operating efficiency and the
valuation of its stock.

The Fund will sell an investment when the Adviser's quarterly screening and
ranking of all qualifying companies indicates that the company has dropped from
the top third of the Fund's investment universe, subject to the portfolio's
optimization to the Russell 3000 Value Index. A company will also be sold if
its fundamentals deteriorate, lowering its "return on equity" below 15%.

The Fund strives to be fully invested at all times in publicly traded common
stocks and other eligible equity securities issued by companies that meet the
investment criteria described in this Prospectus. The Adviser may from time to
time engage in active trading of the Fund's portfolio investments to achieve the
Fund's investment objective.
PRINCIPAL RISKS OF INVESTING IN THE FUND
Before investing in the Fund, you should carefully consider your own investment
goals, the amount of time you are willing to leave your money invested, and the
amount of risk you are willing to take. Remember, in addition to possibly not
achieving your investment goals, you could lose money by investing in the
Fund. The principal risks of investing in this Fund are:

o Stock Market Risk
  
The market value of stocks held by the Fund may decline over a short, or even an
extended period of time, resulting in a decrease in the value of a shareholder's
investment.

o Management Risk
  
The quantitative process used by the Adviser to select securities for the Fund's
investment portfolio may not prove effective in that the investments chosen by
the Adviser may not perform as anticipated. Certain risks are inherent in the
ownership of any security, and there is no assurance that the Fund's investment
objective will be achieved.

o  Company and Sector Risk
  
The Fund's investment strategy requires that a company selected for investment
must, among other criteria and in the determination of the Adviser, have
attained a return on equity of at least 15% per year for each of the prior 10
years. Because of the relatively limited number of companies that have achieved
this strong level of consistent, long term business performance, the Fund at
times is prohibited from investing in certain companies and sectors that may be
experiencing a shorter-term period of robust earnings growth. As a result, the
Fund's performance may trail the overall market over a short or extended period
of time compared to what its performance may have been if the Fund was able to
invest in such rapidly growing, non-qualifying companies.

o Large-Cap Company Risk
  
Larger, more established companies may be unable to respond quickly to new
competitive challenges such as changes in consumer tastes or innovative smaller
competitors. Also, large-cap companies are sometimes unable to attain the high
growth rates of successful, smaller companies, especially during extended
periods of economic expansion.

o Small-and Mid-Cap Company Risk
  
The securities of small-cap and mid-cap companies may be more volatile and less
liquid than the securities of large-cap companies.

o  Portfolio Turnover Risk
  
The Fund may trade actively and therefore experience a portfolio turnover rate
of over 100%. High portfolio turnover is likely to lead to increased Fund
expenses, including brokerage commissions and other transaction costs. A high
portfolio turnover rate may also result in more short-term capital gains taxable
to shareholders at ordinary income rates. High portfolio turnover, as a result,
may lead to lower after-tax investment returns.

Investment Suitability
The Fund is designed for long-term investors who are willing to accept
short-term market price fluctuations.
PERFORMANCE
The performance information demonstrates the risks of investing in the Fund by
showing changes in the Fund's performance from year to year and by showing how
the Fund's average annual total returns for the one year and since inception
periods compare with those of a broad measure of market performance. The Fund's
past performance information, both before and after taxes, is not necessarily an
indication of how the Fund will perform in the future. Updated performance
information is available on the Fund's website at www.jenseninvestment.com, or
by calling the Fund toll-free at 800-992-4144.
Jensen Quality Value Fund - Class I Shares Annual Total Return as of December 31, 2011
Bar Chart
The Fund's calendar year-to-date return as of June 30, 2012 was 4.90%. During
the period of time shown in the bar chart, the Fund's highest quarterly return
was 9.23% for the quarter ended December 31, 2011, and the lowest quarterly
return was -13.95% for the quarter ended September 30, 2011.
Average Annual Total Returns For the Periods Ended December 31, 2011
Average Annual Total Returns Jensen Quality Value Fund
Label
1 Year
Since Inception
Inception Date
Jensen Quality Value Fund - I Shares
Return Before Taxes 2.37% 3.21% Mar. 31, 2010
Jensen Quality Value Fund - I Shares After Taxes on Distributions
Return After Taxes on Distributions 1.13% 2.43% Mar. 31, 2010
Jensen Quality Value Fund - I Shares After Taxes on Distributions and Sales
Return After Taxes on Distributions and Sale of Fund Shares 2.71% 2.61% Mar. 31, 2010
Russell 3000® Value Total Return Index
Russell 3000® Value Total Return Index (reflects no deductions for fees, expenses, or taxes) (0.10%) 4.74% Mar. 31, 2010
After-tax returns are calculated using the historical highest individual federal
marginal income tax rates and do not reflect the impact of state and local
taxes. Actual after-tax returns depend on each investor's individual tax
situation and may differ from those shown. Furthermore, the after-tax returns
shown are not relevant to those who hold their shares through tax-deferred
arrangements such as 401(k) plans or individual retirement accounts ("IRAs").
In certain cases, the figure representing "Return After Taxes on Distributions
and Sale of Fund Shares" may be higher than the other return figures for the
same period. A higher after-tax return results when a capital loss occurs upon
redemption and provides an assumed tax deduction that benefits the investor.
XML 11 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Jensen Quality Value Fund (First Prospectus Summary) | Jensen Quality Value Fund
Jensen Quality Value Fund
INVESTMENT OBJECTIVE
The objective of the Fund is long-term capital appreciation.
FEES AND EXPENSES OF THE FUND
This table describes the fees and expenses that you may pay if you buy and hold
Class J shares of the Fund.
Shareholder Fees (fees paid directly from your investment) None
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Jensen Quality Value Fund
Jensen Quality Value Fund - J Shares
Management Fees 0.75%
Distribution and Shareholder Servicing (Rule 12b-1) Fees 0.25%
Other Expenses 1.08%
Total Annual Fund Operating Expenses 2.08%
Fee Waiver/Expense Reimbursements (0.83%)
Total Annual Fund Operating Expenses after Fee Waiver/Expense Reimbursements [1] 1.25%
[1] Pursuant to an operating expense limitation agreement between the Fund's investment adviser, Jensen Investment Management, Inc. (the "Adviser"), and the Fund, the Adviser has agreed to waive its management fees and/or reimburse expenses of the Fund to ensure that Total Annual Fund Operating Expenses do not exceed 1.25% of the Fund's average net assets attributable to Class J shares through September 30, 2013. This operating expense limitation agreement can be terminated only by, or with the consent of, the Trust's Board of Trustees (the "Board of Trustees"). The Adviser is permitted to be reimbursed for management fee reductions and/or expense payments made in the prior three fiscal years, subject to the limitation on the Fund's expenses described herein.
Example
This Example is intended to help you compare the costs of investing in the Fund
with the cost of investing in other mutual funds. The Example assumes that you
invest $10,000 in the Fund for the time periods indicated and then redeem all
of your shares at the end of those periods. The Example also assumes that your
investment has a 5% return each year and that the Fund's operating expenses
remain the same. The fee waiver/expense reimbursement arrangement discussed
in the table above is reflected only through September 30, 2013.
Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Expense Example (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Jensen Quality Value Fund Jensen Quality Value Fund - J Shares
127 544 1,016 2,321
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate
may indicate higher transaction costs and may result in higher taxes when Fund
shares are held in a taxable account. These transaction costs, and potentially
higher taxes, which are not reflected in the annual fund operating expenses or
in the Example affect the Fund's performance. For the year ended May 31, 2012,
the Fund's portfolio turnover rate was 116.74% of the average value of its
portfolio.
PRINCIPAL INVESTMENT STRATEGIES
To achieve its objective, the Fund invests in equity securities of companies
that satisfy the investment criteria described below. These companies are
selected from a universe of companies that have produced long-term records of
persistently high returns on shareholder equity. In order to qualify for this
universe, each company must have a market capitalization of $1 billion or more,
and a "return on equity" of 15% or greater in each of the last 10 years as
determined by the Adviser (which for example, may include companies with
negative equity resulting from debt-financing of large share repurchases).
Equity securities in which the Fund may invest as a principal strategy consist
primarily of common stocks of U.S. companies. The Adviser determines the companies
that qualify for inclusion in the Fund's investable universe on an annual basis.

The Fund's investment strategy is based on applying quantitative factors to this
select universe of companies that are rooted in fundamentally-based investment
principles. Underpinnings of the Adviser's investment philosophy are embedded in
academic research, the Adviser's history as an investor, and extensive back-testing
of the investment universe. The qualifying universe and the factors derived from the
back-testing focus upon the long-term, past results of the companies and the expected
long-term future results of their stocks. The factors employed reflect the consistency
of a company's performance, its operating efficiency and the valuation of its stock.

The Fund will sell an investment when the Adviser's quarterly screening and ranking
of all qualifying companies indicates that the company has dropped from the top third
of the Fund's investment universe, subject to the portfolio's optimization to the
Russell 3000 Value Index. A company will also be sold if its fundamentals deteriorate,
lowering its "return on equity" below 15%.

The Fund strives to be fully invested at all times in publicly traded common
stocks and other eligible equity securities issued by companies that meet the
investment criteria described in this Prospectus. The Adviser may from time to
time engage in active trading of the Fund's portfolio investments to achieve the
Fund's investment objective.
PRINCIPAL RISKS OF INVESTING IN THE FUND
Before investing in the Fund, you should carefully consider your own investment
goals, the amount of time you are willing to leave your money invested, and the
amount of risk you are willing to take. Remember, in addition to possibly not
achieving your investment goals, you could lose money by investing in the
Fund. The principal risks of investing in this Fund are:

o Stock Market Risk
  
The market value of stocks held by the Fund may decline over a short, or even an
extended period of time, resulting in a decrease in the value of a shareholder's
investment.

o Management Risk
  
The quantitative process used by the Adviser to select securities for the Fund's
investment portfolio may not prove effective in that the investments chosen by
the Adviser may not perform as anticipated. Certain risks are inherent in the
ownership of any security, and there is no assurance that the Fund's investment
objective will be achieved.

o Company and Sector Risk
  
The Fund's investment strategy requires that a company selected for investment
must, among other criteria and in the determination of the Adviser, have
attained a return on equity of at least 15% per year for each of the prior 10
years. Because of the relatively limited number of companies that have achieved
this strong level of consistent, long term business performance, the Fund at
times is prohibited from investing in certain companies and sectors that may be
experiencing a shorter-term period of robust earnings growth. As a result, the
Fund's performance may trail the overall market over a short or extended period
of time compared to what its performance may have been if the Fund was able to
invest in such rapidly growing, non-qualifying companies.

o Large-Cap Company Risk
  
Larger, more established companies may be unable to respond quickly to new
competitive challenges such as changes in consumer tastes or innovative smaller
competitors. Also, large-cap companies are sometimes unable to attain the high
growth rates of successful, smaller companies, especially during extended
periods of economic expansion.

o Small-and Mid-Cap Company Risk

The securities of small-cap and mid-cap companies may be more volatile and less
liquid than the securities of large-cap companies.

o Portfolio Turnover Risk
  
The Fund may trade actively and therefore experience a portfolio turnover rate
of over 100%. High portfolio turnover is likely to lead to increased Fund
expenses, including brokerage commissions and other transaction costs. A high
portfolio turnover rate may also result in more short-term capital gains taxable
to shareholders at ordinary income rates. High portfolio turnover, as a result,
may lead to lower after-tax investment returns.

Investment Suitability
The Fund is designed for long-term investors who are willing to accept
short-term market price fluctuations.
PERFORMANCE
The performance information demonstrates the risks of investing in the Fund by
showing changes in the Fund's performance from year to year and by showing how
the Fund's average annual total returns for the one year and since inception
periods compare with those of a broad measure of market performance. The Fund's
past performance information, both before and after taxes, is not necessarily
an indication of how the Fund will perform in the future. Updated performance
information is available on the Fund's website at www.jenseninvestment.com, or
by calling the Fund toll-free at 800-992-4144.
Jensen Quality Value Fund - Class J Shares Annual Total Return as of December 31, 2011
Bar Chart
The Fund's calendar year-to-date return as of June 30, 2012 was 4.90%. During
the period of time shown in the bar chart, the Fund's highest quarterly return
was 9.17% for the quarter ended December 31, 2011, and the lowest quarterly
return was -13.99% for the quarter ended September 30, 2011.
Average Annual Total Returns For the Periods Ended December 31, 2011
Average Annual Total Returns Jensen Quality Value Fund
Label
1 Year
Since Inception
Inception Date
Jensen Quality Value Fund - J Shares
Return Before Taxes 2.20% 3.00% Mar. 31, 2010
Jensen Quality Value Fund - J Shares After Taxes on Distributions
Return After Taxes on Distributions 0.99% 2.25% Mar. 31, 2010
Jensen Quality Value Fund - J Shares After Taxes on Distributions and Sales
Return After Taxes on Distributions and Sale of Fund Shares 2.56% 2.43% Mar. 31, 2010
Russell 3000® Value Total Return Index
Russell 3000® Value Total Return Index (reflects no deductions for fees, expenses, or taxes) (0.10%) 4.74% Mar. 31, 2010
After-tax returns are calculated using the historical highest individual federal
marginal income tax rates and do not reflect the impact of state and local
taxes. Actual after-tax returns depend on each investor's individual tax
situation and may differ from those shown. Furthermore, the after-tax returns
shown are not relevant to those who hold their shares through tax-deferred
arrangements such as 401(k) plans or individual retirement accounts ("IRAs").
In certain cases, the figure representing "Return After Taxes on Distributions
and Sale of Fund Shares" may be higher than the other return figures for the
same period. A higher after-tax return results when a capital loss occurs upon
redemption and provides an assumed tax deduction that benefits the investor.
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XML 13 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Sep. 30, 2012
Jensen Quality Value Fund (First Prospectus Summary) | Jensen Quality Value Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Jensen Quality Value Fund
Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The objective of the Fund is long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading FEES AND EXPENSES OF THE FUND
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold
Class J shares of the Fund.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment) None
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate
may indicate higher transaction costs and may result in higher taxes when Fund
shares are held in a taxable account. These transaction costs, and potentially
higher taxes, which are not reflected in the annual fund operating expenses or
in the Example affect the Fund's performance. For the year ended May 31, 2012,
the Fund's portfolio turnover rate was 116.74% of the average value of its
portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 116.74%
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the costs of investing in the Fund
with the cost of investing in other mutual funds. The Example assumes that you
invest $10,000 in the Fund for the time periods indicated and then redeem all
of your shares at the end of those periods. The Example also assumes that your
investment has a 5% return each year and that the Fund's operating expenses
remain the same. The fee waiver/expense reimbursement arrangement discussed
in the table above is reflected only through September 30, 2013.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Strategy [Heading] rr_StrategyHeading PRINCIPAL INVESTMENT STRATEGIES
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock To achieve its objective, the Fund invests in equity securities of companies
that satisfy the investment criteria described below. These companies are
selected from a universe of companies that have produced long-term records of
persistently high returns on shareholder equity. In order to qualify for this
universe, each company must have a market capitalization of $1 billion or more,
and a "return on equity" of 15% or greater in each of the last 10 years as
determined by the Adviser (which for example, may include companies with
negative equity resulting from debt-financing of large share repurchases).
Equity securities in which the Fund may invest as a principal strategy consist
primarily of common stocks of U.S. companies. The Adviser determines the companies
that qualify for inclusion in the Fund's investable universe on an annual basis.

The Fund's investment strategy is based on applying quantitative factors to this
select universe of companies that are rooted in fundamentally-based investment
principles. Underpinnings of the Adviser's investment philosophy are embedded in
academic research, the Adviser's history as an investor, and extensive back-testing
of the investment universe. The qualifying universe and the factors derived from the
back-testing focus upon the long-term, past results of the companies and the expected
long-term future results of their stocks. The factors employed reflect the consistency
of a company's performance, its operating efficiency and the valuation of its stock.

The Fund will sell an investment when the Adviser's quarterly screening and ranking
of all qualifying companies indicates that the company has dropped from the top third
of the Fund's investment universe, subject to the portfolio's optimization to the
Russell 3000 Value Index. A company will also be sold if its fundamentals deteriorate,
lowering its "return on equity" below 15%.

The Fund strives to be fully invested at all times in publicly traded common
stocks and other eligible equity securities issued by companies that meet the
investment criteria described in this Prospectus. The Adviser may from time to
time engage in active trading of the Fund's portfolio investments to achieve the
Fund's investment objective.
Risk [Heading] rr_RiskHeading PRINCIPAL RISKS OF INVESTING IN THE FUND
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Before investing in the Fund, you should carefully consider your own investment
goals, the amount of time you are willing to leave your money invested, and the
amount of risk you are willing to take. Remember, in addition to possibly not
achieving your investment goals, you could lose money by investing in the
Fund. The principal risks of investing in this Fund are:

o Stock Market Risk
  
The market value of stocks held by the Fund may decline over a short, or even an
extended period of time, resulting in a decrease in the value of a shareholder's
investment.

o Management Risk
  
The quantitative process used by the Adviser to select securities for the Fund's
investment portfolio may not prove effective in that the investments chosen by
the Adviser may not perform as anticipated. Certain risks are inherent in the
ownership of any security, and there is no assurance that the Fund's investment
objective will be achieved.

o Company and Sector Risk
  
The Fund's investment strategy requires that a company selected for investment
must, among other criteria and in the determination of the Adviser, have
attained a return on equity of at least 15% per year for each of the prior 10
years. Because of the relatively limited number of companies that have achieved
this strong level of consistent, long term business performance, the Fund at
times is prohibited from investing in certain companies and sectors that may be
experiencing a shorter-term period of robust earnings growth. As a result, the
Fund's performance may trail the overall market over a short or extended period
of time compared to what its performance may have been if the Fund was able to
invest in such rapidly growing, non-qualifying companies.

o Large-Cap Company Risk
  
Larger, more established companies may be unable to respond quickly to new
competitive challenges such as changes in consumer tastes or innovative smaller
competitors. Also, large-cap companies are sometimes unable to attain the high
growth rates of successful, smaller companies, especially during extended
periods of economic expansion.

o Small-and Mid-Cap Company Risk

The securities of small-cap and mid-cap companies may be more volatile and less
liquid than the securities of large-cap companies.

o Portfolio Turnover Risk
  
The Fund may trade actively and therefore experience a portfolio turnover rate
of over 100%. High portfolio turnover is likely to lead to increased Fund
expenses, including brokerage commissions and other transaction costs. A high
portfolio turnover rate may also result in more short-term capital gains taxable
to shareholders at ordinary income rates. High portfolio turnover, as a result,
may lead to lower after-tax investment returns.

Investment Suitability
The Fund is designed for long-term investors who are willing to accept
short-term market price fluctuations.
Risk Lose Money [Text] rr_RiskLoseMoney Remember, in addition to possibly not achieving your investment goals, you could lose money by investing in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading PERFORMANCE
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The performance information demonstrates the risks of investing in the Fund by
showing changes in the Fund's performance from year to year and by showing how
the Fund's average annual total returns for the one year and since inception
periods compare with those of a broad measure of market performance. The Fund's
past performance information, both before and after taxes, is not necessarily
an indication of how the Fund will perform in the future. Updated performance
information is available on the Fund's website at www.jenseninvestment.com, or
by calling the Fund toll-free at 800-992-4144.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The performance information demonstrates the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual total returns for the one year and since inception periods compare with those of a broad measure of market performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-992-4144
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jenseninvestment.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's past performance information, both before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Jensen Quality Value Fund - Class J Shares Annual Total Return as of December 31, 2011
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The Fund's calendar year-to-date return as of June 30, 2012 was 4.90%. During
the period of time shown in the bar chart, the Fund's highest quarterly return
was 9.17% for the quarter ended December 31, 2011, and the lowest quarterly
return was -13.99% for the quarter ended September 30, 2011.
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes reflects no deductions for fees, expenses, or taxes
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on each investor's individual tax situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts ("IRAs").
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher In certain cases, the figure representing "Return After Taxes on Distributions and Sale of Fund Shares" may be higher than the other return figures for the same period.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock After-tax returns are calculated using the historical highest individual federal
marginal income tax rates and do not reflect the impact of state and local
taxes. Actual after-tax returns depend on each investor's individual tax
situation and may differ from those shown. Furthermore, the after-tax returns
shown are not relevant to those who hold their shares through tax-deferred
arrangements such as 401(k) plans or individual retirement accounts ("IRAs").
In certain cases, the figure representing "Return After Taxes on Distributions
and Sale of Fund Shares" may be higher than the other return figures for the
same period. A higher after-tax return results when a capital loss occurs upon
redemption and provides an assumed tax deduction that benefits the investor.
Caption rr_AverageAnnualReturnCaption Average Annual Total Returns For the Periods Ended December 31, 2011
Jensen Quality Value Fund (First Prospectus Summary) | Jensen Quality Value Fund | Russell 3000® Value Total Return Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell 3000® Value Total Return Index (reflects no deductions for fees, expenses, or taxes)
1 Year rr_AverageAnnualReturnYear01 (0.10%)
Since Inception rr_AverageAnnualReturnSinceInception 4.74%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
Jensen Quality Value Fund (First Prospectus Summary) | Jensen Quality Value Fund | Jensen Quality Value Fund - J Shares
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution and Shareholder Servicing (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 1.08%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.08%
Fee Waiver/Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.83%)
Total Annual Fund Operating Expenses after Fee Waiver/Expense Reimbursements rr_NetExpensesOverAssets 1.25% [1]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-09-30
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 127
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 544
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,016
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,321
Annual Return 2011 rr_AnnualReturn2011 2.20%
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 4.90%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest quarterly return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2011
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 9.17%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest quarterly return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (13.99%)
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 2.20%
Since Inception rr_AverageAnnualReturnSinceInception 3.00%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
Jensen Quality Value Fund (First Prospectus Summary) | Jensen Quality Value Fund | Jensen Quality Value Fund - J Shares | After Taxes on Distributions
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 0.99%
Since Inception rr_AverageAnnualReturnSinceInception 2.25%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
Jensen Quality Value Fund (First Prospectus Summary) | Jensen Quality Value Fund | Jensen Quality Value Fund - J Shares | After Taxes on Distributions and Sales
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions and Sale of Fund Shares
1 Year rr_AverageAnnualReturnYear01 2.56%
Since Inception rr_AverageAnnualReturnSinceInception 2.43%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
[1] Pursuant to an operating expense limitation agreement between the Fund's investment adviser, Jensen Investment Management, Inc. (the "Adviser"), and the Fund, the Adviser has agreed to waive its management fees and/or reimburse expenses of the Fund to ensure that Total Annual Fund Operating Expenses do not exceed 1.25% of the Fund's average net assets attributable to Class J shares through September 30, 2013. This operating expense limitation agreement can be terminated only by, or with the consent of, the Trust's Board of Trustees (the "Board of Trustees"). The Adviser is permitted to be reimbursed for management fee reductions and/or expense payments made in the prior three fiscal years, subject to the limitation on the Fund's expenses described herein.
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