0000894189-13-000163.txt : 20130114 0000894189-13-000163.hdr.sgml : 20130114 20130114152416 ACCESSION NUMBER: 0000894189-13-000163 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130114 DATE AS OF CHANGE: 20130114 EFFECTIVENESS DATE: 20130114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HOTCHKIS & WILEY FUNDS /DE/ CENTRAL INDEX KEY: 0001145022 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-68740 FILM NUMBER: 13527803 BUSINESS ADDRESS: STREET 1: 725 SOUTH FIGUEROA STREET STREET 2: 39TH FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90017-5439 BUSINESS PHONE: 2134301000 MAIL ADDRESS: STREET 1: 725 SOUTH FIGUEROA STREET STREET 2: 39TH FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90017-5439 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HOTCHKIS & WILEY FUNDS /DE/ CENTRAL INDEX KEY: 0001145022 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-10487 FILM NUMBER: 13527804 BUSINESS ADDRESS: STREET 1: 725 SOUTH FIGUEROA STREET STREET 2: 39TH FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90017-5439 BUSINESS PHONE: 2134301000 MAIL ADDRESS: STREET 1: 725 SOUTH FIGUEROA STREET STREET 2: 39TH FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90017-5439 0001145022 S000039502 Hotchkis & Wiley Global Value Fund C000121672 Class I HWGIX C000121673 Class A C000121674 Class C 485BPOS 1 hw-gvf_485bxbrl.htm POST EFFECTIVE AMENDMENT FOR XBRL hw-gvf_485bxbrl.htm
 
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 14, 2013

1933 ACT FILE NO. 333-68740
1940 ACT FILE NO. 811-10487

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.
28
  
[
X
]

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
[
X
]
Amendment No.
29
  
[
X
]

(Check appropriate box or boxes.)

HOTCHKIS & WILEY FUNDS
(Exact name of Registrant as Specified in Charter)

725 S. Figueroa Street, 39th Floor
Los Angeles, California 90017-5439
(Address of Principal Executive Office) (Zip Code)

(213) 430-1000
Registrant’s Telephone Number, including Area Code

Anna Marie Lopez
725 S. Figueroa Street, 39th Floor
Los Angeles, California 90017-5439

(Name and Address of Agent for Service)

Copy to:
Karin Jagel Flynn, Esq.
Joseph M. Mannon, Esq.
Vedder Price P.C.
222 North LaSalle Street
26th Floor
Chicago, IL 60601

It is proposed that this filing will become effective (check appropriate box)
 
[
X
]
immediately upon filing pursuant to paragraph (b)
[
  
]
On (date) pursuant to paragraph (b)
[
  
]
60 days after filing pursuant to paragraph (a)(1)
[
  
]
on (date) pursuant to paragraph (a)(1)
[
  
]
75 days after filing pursuant to paragraph (a)(2)
[
  
]
on (date) pursuant to paragraph (a)(2) of Rule 485.

If appropriate, check the following box:
 
[
  
]
This post-effective amendment designates a new effective date for a previously filed post- effective amendment.

Explanatory Note:  This Post-Effective Amendment (“PEA”) No. 28 to the Registration Statement of Hotchkis & Wiley Funds (the “Trust”) on Form N-1A hereby incorporates Parts A, B and C from the Trust’s PEA No. 27 on Form N-1A filed December 28, 2012.  This PEA No. 28 is filed for the sole purpose of submitting the XBRL exhibit for the risk/return summary first provided in PEA No. 27 to the Trust’s Registration Statement.
 
 
 
 
 
 
 
SIGNATURES

Pursuant to the requirements of the Securities Act and the 1940 Act, the Registrant certifies that this Post-Effective Amendment No. 28 to its Registration Statement meets all the requirements for effectiveness pursuant to Rule 485(b) of the Securities Act, and the Registrant has duly caused this Post-Effective Amendment No. 28 to its Registration Statement on Form N-1A to be signed on its behalf by the undersigned, duly authorized, in the City of Los Angeles and the State of California on January 14, 2013.

 
Hotchkis & Wiley Funds
   
 
/s/ Anna Marie Lopez
 
      Anna Marie Lopez
 
      President

Pursuant to the requirements of the Securities Act, this Post-Effective Amendment No. 28 to its Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

Signature
Title
Date
     
Randall H. Breitenbach*
Trustee
January 14, 2013
Randall H. Breitenbach
    
     
Robert L. Burch III*
Trustee
January 14, 2013
Robert L. Burch III
    
     
Alejandra C. Edwards*
Trustee
January 14, 2013
Alejandra C. Edwards
    
     
Marcy Elkind*
Trustee
January 14, 2013
Marcy Elkind
    
     
Robert Fitzgerald*
Trustee
January 14, 2013
Robert Fitzgerald
    
     
John A.G. Gavin*
Trustee
January 14, 2013
John A.G. Gavin
    
     
Donald Morrison*
Trustee
January 14, 2013
Donald Morrison
    
     
George H. Davis, Jr.*
Trustee
January 14, 2013
George H. Davis, Jr.
    
     
/s/ Anna Marie Lopez
Principal Executive Officer
January 14, 2013
Anna Marie Lopez
    
     
/s/ James Menvielle
Principal Financial and
January 14, 2013
James Menvielle
Accounting Officer
  

* By: /s/ Anna Marie Lopez
    Anna Marie Lopez
    Attorney-in-fact pursuant to the Power of Attorney previously filed and incorporated by reference.
 

 
 
1 
 
 
INDEX TO EXHIBITS

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
 

2
 EX-101.INS 2 ck0001145022-20121228.xml INSTANCE DOCUMENT 485BPOS 2012-12-28 0001145022 2012-12-31 HOTCHKIS & WILEY FUNDS /DE/ false 2012-12-28 2012-12-31 <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 shares <br />are held in a taxable account. These costs, which are not reflected in annual fund<br />operating expenses or in the example, affect the Fund's performance. No portfolio <br />turnover rate is provided for the Fund because the Fund had not commenced operations <br />as of the date of this Prospectus.</tt> <div style="display:none">~ http://www.hwcm.com/role/ExpenseExample_S000039502Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Fund seeks capital appreciation.</tt> <tt>This example is intended to help you compare the cost of investing in<br />the Fund with the cost of investing in other mutual funds. The example assumes<br />that you invest $10,000 in the Fund for the time periods indicated and then<br />redeem all of your shares at the end of those periods. The example also assumes<br />that your investment has a 5% return each year and that the Fund's operating<br />expenses remain the same except for the fee waiver/expense reimbursement in<br />effect for the first year.</tt> <tt>The Fund seeks to achieve its objective by investing primarily in U.S. and <br />non-U.S. companies, which may include companies located or operating in <br />established or emerging markets. Under normal circumstances, the Fund will <br />invest at least 40% of its net assets (plus the amount of any borrowings for <br />investment purposes) in the equity securities of companies located outside of <br />the U.S. The Advisor determines where a company is located, and thus whether a <br />company is located outside the U.S. or in an emerging market, by referring to: <br />its primary stock exchange listing; where it is registered, organized or <br />incorporated; where its headquarters are located; where it derives at least 50% <br />of its revenues or profits from goods produced or sold, investments made, or <br />services performed; or where at least 50% of its assets are located. The Fund <br />will allocate its assets among various regions and countries (but in no less<br />than three different countries). From time to time, asubstantial portion of the <br />Fund's assets may be invested in companies located in a single country. The Fund <br />invests in companies of any size market capitalization.<br /> <br />In addition to purchasing equity securities on exchanges where the companies are<br />located, the Fund may purchase equity securities on exchanges other than where<br />their companies are domiciled (often traded as dual listed securities) or in the<br />form of Depositary Receipts, which include American Depositary Receipts<br />("ADRs"), Global Depositary Receipts ("GDRs") or similar securities. The Fund<br />may also invest in other investment companies, including exchange-traded funds<br />("ETFs"). Investments in ETFs based on foreign market indices are considered<br />investments outside the U.S. for purposes of the 40% requirement noted above.<br /> <br />The Fund will invest primarily in companies located in developed countries, but<br />may invest up to 20% of its assets in emerging markets. The Fund seeks to invest<br />in stocks whose future prospects are misunderstood or not fully recognized by<br />the market. The Fund employs a fundamental value investing approach which seeks<br />to exploit market inefficiencies created by irrational investor behavior. To<br />identify these investment opportunities, the Fund employs a disciplined,<br />bottom-up investment process highlighted by rigorous, internally-generated<br />fundamental research. With the exception of diversification guidelines, the Fund<br />does not employ predetermined rules for sales; rather, the Fund evaluates each<br />sell candidate based on the candidate's specific risk and return characteristics<br />which include: 1) relative valuation; 2) fundamental operating trends; 3)<br />deterioration of fundamentals; and 4) diversification guidelines.<br />&#xA0;&#xA0;<br />The Fund may enter into currency contracts (such as spot, forward and futures)<br />to hedge foreign currency exposure.</tt> Fund Summary You may qualify for sales charge discounts for Class A shares if you and your family invest, or agree to invest in the future, at least $25,000 in certain Hotchkis & Wiley Funds. Example. "Other Expenses" are based on estimated amounts for the current fiscal year. Performance information for the Fund is not included because the Fund had not commenced operations prior to the date of this Prospectus. Performance information will be available once the Fund has at least one calendar year of performance. Investment Objective. As with any mutual fund, the value of the Fund's investments, and therefore the value of its shares, may go down and you could lose all or a portion of your investment in the Fund. Principal Investment Risks. SHAREHOLDER FEES (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions, your costs would be: Performance 25000 Performance information for the Fund is not included because the Fund had not commenced operations prior to the date of this Prospectus. 1-866-493-8637 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) Portfolio Turnover. <tt>As with any mutual fund, the value of the Fund's investments, and therefore the <br />value of its shares, may go down and you could lose all or a portion of your <br />investment in the Fund. Many factors can affect those values. The factors that <br />are most likely to have a material effect on the Fund's portfolio as a whole <br />are called "principal risks." The principal risks of investing in the Fund, <br />which could adversely affect its net asset value, yield and total return, are <br />described in this section.<br /> <br />Market Risk. Market risk is the risk that the market price of securities owned<br />by the Fund may go down, sometimes rapidly or unpredictably. Securities may<br />decline in value due to factors affecting securities markets generally or<br />particular industries represented in the securities markets.<br /> <br />Equity Securities Risk. Equity securities, both common and preferred stocks,<br />have greater price volatility than fixed income securities. The market price of<br />equity securities owned by the Fund may go down, sometimes rapidly or<br />unpredictably. Equity securities may decline in value due to factors affecting<br />equity securities markets generally or particular industries represented by<br />those markets.<br /> <br />Capitalization Risk. Large cap companies as a group could fall out of favor with<br />the market, causing the Fund to underperform investments that focus on small or<br />mid cap companies. Investments in small and mid cap companies may involve more<br />risk than investing in larger more established companies. Small and mid cap<br />companies may have limited product lines or markets. They may be less<br />financially secure than larger, more established companies. They may depend on a<br />small number of key personnel. Should a product fail, or if management changes,<br />or if there are other adverse developments, the Fund's investment in a small or<br />mid cap company may lose substantial value.<br /> <br />Management Risk. The Fund is subject to management risk because it is an<br />actively managed investment portfolio. The Advisor invests in securities that<br />may not necessarily be included in the Fund's benchmark. To the extent that the<br />Advisor invests the Fund's assets in securities that are not in the Fund's<br />applicable benchmark index, there is a greater risk that the Fund's performance<br />will deviate from that of the benchmark. The Advisor does not seek to replicate<br />the performance of any index.<br /> <br />Style Risk. The Advisor follows an investing style that favors value<br />investments. Historically, value investments have performed best during periods<br />of economic recovery. Therefore, the value investing style may over time go in<br />and out of favor. At times when the value investing style is out of favor, the<br />Fund may underperform other funds that use different investing styles. Investors<br />should be prepared to tolerate volatility in Fund returns.<br /> <br />Security Selection Risk. The Advisor may misjudge the risk and/or return<br />potential of a security. This misjudgment can result in a loss or a significant<br />deviation relative to its benchmark.<br /> <br />Issuer Risk. The value of a security may decline for a number of reasons which<br />directly relate to the issuer, such as management performance, financial<br />leverage and reduced demand for the issuer's goods or services.<br /> <br />Foreign (non-U.S.) Investment Risk. The Fund may invest in foreign (non-U.S.)<br />securities and may experience more rapid and extreme changes in value than a<br />fund that invests exclusively in securities of U.S. companies. The securities<br />markets of many foreign countries are relatively small, with a limited number of<br />companies representing a small number of industries. Additionally, issuers of<br />foreign securities are usually not subject to the same degree of regulation as<br />U.S. issuers and may suffer from increased foreign government action, including<br />nationalization, expropriation or confiscatory taxation, currency blockage, or<br />political changes or diplomatic developments. To the extent that the Fund<br />invests a significant portion of its assets in a specific geographic region, the<br />Fund will generally have more exposure to regional economic risks associated<br />with foreign investments.<br /> <br />Emerging Market Risk. Foreign (non-U.S.) investment risk may be particularly<br />high to the extent that the Fund invests in emerging market securities. These<br />securities may present market, credit, currency, liquidity, legal, political and<br />other risks different from, or greater than, the risks of investing in developed<br />foreign countries.<br /> <br />Currency Risk. If the Fund invests directly in foreign (non-U.S.) currencies or<br />in securities that trade in, and receive revenues in, foreign (non-U.S.)<br />currencies, or in derivatives that provide exposure to foreign (non-U.S.)<br />currencies, it will be subject to the risk that those currencies will decline in<br />value relative to the U.S. dollar, or, in the case of hedging positions, that<br />the U.S. dollar will decline in value relative to the currency being hedged. As<br />a result, the Fund's investments in foreign currency-denominated securities may<br />reduce the Fund's returns.<br /> <br />ADR and GDR Risk. ADRs are certificates that evidence ownership of shares of a<br />foreign issuer and are alternatives to purchasing directly the underlying<br />foreign securities in their national markets and currencies. GDRs are<br />certificates issued by an international bank that generally are traded and<br />denominated in the currencies of countries other than the home country of the<br />issuer of the underlying shares. ADRs and GDRs may be subject to certain of the<br />risks associated with direct investments in the securities of foreign companies,<br />such as currency, political, economic and market risks, because their values<br />depend on the performance of the non-dollar denominated underlying foreign<br />securities.<br /> <br />Certain countries may limit the ability to convert ADRs into the underlying<br />foreign securities and vice versa, which may cause the securities of the foreign<br />company to trade at a discount or premium to the market price of the related<br />ADR. ADRs may be purchased through sponsored or unsponsored facilities. A<br />sponsored facility is established jointly by a depositary and the issuer of the<br />underlying security. A depositary may establish an unsponsored facility without<br />participation by the issuer of the deposited security. Unsponsored receipts may<br />involve higher expenses and may be less liquid. Holders of unsponsored ADRs<br />generally bear all the costs of such facilities, and the depositary of an<br />unsponsored facility frequently is under no obligation to distribute shareholder<br />communications received from the issuer of the deposited security or to pass<br />through voting rights to the holders of such receipts in respect of the<br />deposited securities.<br /> <br />GDRs can involve currency risk since, unlike ADRs, they may not be U.S. dollar<br />denominated. The Fund's net asset value could decline if the currency of the<br />non-U.S. market in which the Fund invests depreciates against the U.S. dollar,<br />even if the value of the Fund's holdings, measured in the foreign currencies,<br />increases.<br />&#xA0;&#xA0;<br />ETF Risk. ETFs may trade at a discount to the aggregate value of the underlying<br />securities and although expense ratios for ETFs are generally low, frequent<br />trading of ETFs by the Fund can generate brokerage expenses. Shareholders of the<br />Fund will indirectly be subject to the fees and expenses of the individual ETFs<br />in which the Fund invests.<br /> <br />Recent Developments in Global Credit and Equity Markets Risks. Global capital<br />markets have recently experienced credit and valuation problems and the mass<br />liquidation of investment portfolios. These conditions have generated extreme<br />volatility and illiquidity. This financial crisis may cause a significant<br />decline in the value and liquidity of many securities.<br /> <br />Current market conditions may continue or worsen. Because of the expansive scope<br />of these conditions, past investment strategies and models may not be able to<br />identify all significant risks that the Fund may encounter, or to predict the<br />duration of these events.</tt> Fees and Expenses of the Fund. Principal Investment Strategy. http://www.hwcm.com/literature <tt>Performance information for the Fund is not included because the Fund had not<br />commenced operations prior to the date of this Prospectus. Performance<br />information will be available once the Fund has at least one calendar year of<br />performance. Updated performance is available on the Fund's website at<br />http://www.hwcm.com/literature (click on "Latest Performance") or by calling the<br />Fund toll-free at 1-866-HW-FUNDS (1-866-493-8637).</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold <br />shares of the Fund. You may qualify for sales charge discounts for Class A shares <br />if you and your family invest, or agree to invest in the future, at least $25,000 <br />in certain Hotchkis &amp; Wiley Funds. More information about these and other discounts <br />is available from your financial professional and in the sections titled "About <br />Class I, Class A and Class C Shares" beginning on page 8 of this Prospectus and <br />"Purchase of Shares" in the Fund's Statement of Additional Information.</tt> <div style="display:none">~ http://www.hwcm.com/role/OperatingExpensesData_S000039502Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> You would pay the following expenses if you did not redeem your shares: <div style="display:none">~ http://www.hwcm.com/role/ExpenseExampleNoRedemption_S000039502Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.hwcm.com/role/ShareholderFeesData_S000039502Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> 0.0000 313 213 1491 -0.0419 0.0449 0.0080 2013-12-31 1491 0.0100 0.0210 0.0629 0.0100 0.0525 655 655 1738 -0.0419 0.0449 0.0080 2013-12-31 1738 0.0025 0.0135 0.0554 0.0000 HWGIX 0.0000 112 112 1208 -0.0419 0.0449 0.0080 2013-12-31 1208 0.0000 0.0110 0.0529 0.0000 0001145022 ck0001145022:SummaryS000039502Memberck0001145022:S000039502Memberck0001145022:C000121672Member 2012-12-31 2012-12-31 0001145022 ck0001145022:SummaryS000039502Memberck0001145022:S000039502Memberck0001145022:C000121673Member 2012-12-31 2012-12-31 0001145022 ck0001145022:SummaryS000039502Memberck0001145022:S000039502Memberck0001145022:C000121674Member 2012-12-31 2012-12-31 0001145022 ck0001145022:SummaryS000039502Memberck0001145022:S000039502Member 2012-12-31 2012-12-31 0001145022 2012-12-31 2012-12-31 iso4217:USD pure You may be charged a deferred sales charge of up to 0.75% if you invest $1,000,000 or more in Class A shares and you redeem your shares within one year after purchase. "Other Expenses" are based on estimated amounts for the current fiscal year. Hotchkis & Wiley Capital Management, LLC (the "Advisor") has contractually agreed to waive management fees and/or reimburse expenses through December 31, 2013 to ensure that Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement do not exceed certain limits: Class I - 1.10%, Class A - 1.35%, Class C - 2.10%. Thereafter, the Advisor may change or eliminate the expense limits only upon 30 days' prior notice to the Fund's shareholders. EX-101.SCH 3 ck0001145022-20121228.xsd SCHEMA DOCUMENT 0011 - Document - Document And Entity Information {Elements} link:calculationLink link:presentationLink link:definitionLink 0112 - Document - Risk/Return Summary {Unlabeled} (Hotchkis & Wiley Global Value Fund) link:calculationLink link:presentationLink link:definitionLink 0113 - Schedule - Shareholder Fees link:calculationLink link:presentationLink link:definitionLink 0114 - Schedule - Annual Fund Operating Expenses link:calculationLink link:presentationLink link:definitionLink 0115 - Schedule - Expense Example {Transposed} link:calculationLink link:presentationLink link:definitionLink 0116 - Schedule - Expense Example, No Redemption {Transposed} link:calculationLink link:presentationLink link:definitionLink EX-101.CAL 4 ck0001145022-20121228_cal.xml CALCULATION LINKBASE DOCUMENT EX-101.DEF 5 ck0001145022-20121228_def.xml DEFINITION LINKBASE DOCUMENT EX-101.LAB 6 ck0001145022-20121228_lab.xml LABEL LINKBASE DOCUMENT EX-101.PRE 7 ck0001145022-20121228_pre.xml PRESENTATION LINKBASE DOCUMENT XML 8 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } ZIP 9 0000894189-13-000163-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000894189-13-000163-xbrl.zip M4$L#!!0````(``][+D)V-M1L%"$``)*O```9`!P`8VLP,#`Q,30U,#(R+3(P M,3(Q,C(X+GAM;%54"0`#?6GT4'UI]%!U>`L``00E#@``!#D!``#47&USVS:V M_MZ9_@=2)=E.+&?C'=F6F\PF<<9VM^W]XJ%(2$)#$ER`M*W]L+_] MGG,`D``I.6FG[?C.M!-;`L&#\_J<%_AO?W_,4G;/E18R?],;#T<]QO-8)B)? MO>E5>A#I6(@>TV64)U$J<_ZFM^&Z]_?3;[_YVW\-!FQ^\?WLFEWEJ<@Y>S?X MP$LE'ME/,4^YBDKX*,='8\XN9%QE/"_[;!%IGC"9LY_.KM^SR7#,V+HLBY/] M_8>'AR%/5I$:2-IP&,MLGPT&[F7_-'2>,/9R.!G!@\U7U[+*DQ/F?W2N>%3" MAH`$^,@P/V MX3CQD,W2E%WC4LVNN>;JGB=#N]/C0J4,6)KK-SWO4/CQ4*K5/NQ[L"\L3WIF MY0E^FSZQ'E[]&9E6K\3@9OWJ*&+.BWEN+;3O# MTO'^3Q_>W\1KGD6#]@GBSR-8,#X\&DTFP>/KAS@C*2+WQY/)L7LBX9+ M1H(_P4.]Z6F1%2F*ASZ+5*QDRK].Q>B)M>++-SU?K`,GP>&C3GZ#)GZ]DN^; MXX$BG#BG<0N'8K',2_Y87B-E7*9W0-OH>'HX/IZB68]&KT8'+^]N;B_NQG>& MUH/Q';@SD;SIB>3NY71Z/!G=G1^-9J^.QQ>#B\N+L\'AV='A8'8T&@W&QT?' MKXX.+T;'QV>PP4'O]/#XZ.S3U7*#+^S/I/.J=.K\V M.0Y)#8AJ:)[GI2@WY[!`1>F[/.&/_^";WX?FR>AP/I].@9K+H^G@\/!\/)@> MOWHY>'D\F<[/)W"@EP>PP;AWVJB5H7DK45T^SY=+'I?BGO_I?!XW?#X8AWP. MB&KS^9JOA(9#Y>7'*/N=2/Y*-H]ZIV^O;L_?_N/=#?LNRHK7[,=W[^<_L\L? M/E[PF&/CE^'$RGKX"D(_K]H/[]L'V>^?ET=G%Y>#$832XG@T,XW.!L?'@^ M.)J>G<]&T^/9Y?CH;@PNY&XR[9U^EY:OR_*[5?GZ=LW9)LTC#KUDF-$))^/!AS7,F2K:HX"%`N4SS--4,MUTHMH\;`PBH ME"@%U^R%5*Q7`E\T0\X`Z8`""\>P/0"';`W0D*OF0U9:-C)"Q%FT\?<6>2)B M_-P^UB&;:(*'F.*Z2DLF\GII]`@4$?UT;+V.8$U`.7S`UCQ-\*D('X@6*6=1 M'`-<+H<,.*:YX\[#6B![X(E@[3!/,S MO*8QC2&NWC<:9JQFIWG4%C0W[)@;%OPHRO4U3WA6X.MO403/UJ(.)\:B$G$/ M2=\&06,B=)%&&\3@O(=<^`_;AO`18>Z'![^[P=,<3"'0?^#9`J08R[3*("/C MXNX]7T6I"3ZS1T%&68#>L_]QBY2Z:Z1P@[I]GD9:MQ8K^0`Z(;)(;;Q/V7]( M:G"*6FQ?+Y-:C%>+7TQH_V1>\&RE=K#5#6K./P.KHD*48+Q142@>"S*!CD[O M/.D.E?X8*32F^^>KR)-QR!-0&NN1T(L(H#5'+U)*](\%V\C*J(\R3@1](CH# MD=]S32Y.Y(%?3NMZS16RJY5,4*TLR@A]PP+`S._HK!!+TX8Q'$%PV/%*6NJ@;$>IPXF]> M1Q8%::[E@48LS1]C7I0U*Y:N8QI<4O[:0FQ)CU&KS_&WC8/R$OP"+`%$)?L\)VTCG&=ABX^FV<;DBQ<_8 M#\.;(8G5YS!68^@+,JL`'7)&R6"A`XJ92!2_W3!:,(,1@9&F@DBF/ MX(?#T5_)DN'X.2]1Y6%S]J)(*TV[1!G")UP2Y1NVD`J"$)"A29VZ&Y/Z%94" M+>=ZK\9'_ZH@]#$/6\)^6]A1E1KP#G[9]C_$793>++D7&EZ=\)*K3.0&%8(G MB^R&&_1Y=L>^-<"*%I%_BH*MNX_41-1O-3`ORMLBZ*.6`'3D2N&'I3P)^8%@ MV09K7:)E@!6OHWS%&4@5)?[:4@Z`7*#-8U8*OP/54JV`,_\VD@^9'$O@+1I? MTCRNP:]'R;^J2,'SFF"M/8WW"E`6T&S=2/X()!\@7*,%"JPAKPR\!0"ZQ,^6 M2F9L)='SPD=)%1O*M$R!V$;P&CB3\'Z;:"P;"U!+!X.1+%ABQ>:38TFP2NB= MP\B>--K?F;0;W#PM"A[-)(CD'JQ65H:UB(51&2@;4)3>+"K*,'()%.BVET?% M5>!G$P'>4Z%6UT]"YG.)#*&(!"X$_P5-T]4"[:\48(X(\#&KL7#;W]N/`I9: M=!(+;AEILI"N<5!6HT%M4FY)V>S@BME'A]M8`]:@559_'5H2_VYPDMLBV.\= MO#E)!!T(C@O6#7JL*17JVG5>J[DS3`,8'!T@5'_OVE!KCX7,L*_8ZCC\%QC( M0=*B=[6\AE#ABUDB,Q&+%+CY0BX!%6$&BL@(XG>"J`4-DR?>Z_::),_?&[48 M.7K!08[`0S#Q:QYS432YI7/Z,RJY`X%;UOI;ONC-+JYU;Z_/OD_E`FC9LIZ] MZ'U/B\CX1"92@!@-L8TZ^!LC/PG-6,]?(S7/87MAR]!M\ES#YH%E$D&ZD.3Y M[250,V3O/!<`^^/'3>L+F,7%*G=:1]#-R@.P`OI:\'G;(XGN>F,,.RZ^.//" M&*90592!/Y`,HU`7D+#NUNK;($1:Y@2A?JL-)N`>4PC:GB>!0%"5;9;;#:L" M36;2\6VB$TX\\37HQ.P2,L=$$[0N1*]+P-O`R<)FCX:OF=`5H@-8*R$5$"8#7B1` MCUAN4`DT]Q5:%NB!JYSLPG,NS7D@TX]%@9W.I._ON9!E*;,!R,T'-$J"RFHJ M1J78#36T*K&2"@),GW(L!32GF\&*Y]0.#E3:YQ[D(8"]X_60_>CR*8/O;K"LZ)A'H'\?=.)'`0!6P.!\3R&APE3%40W,AJ=`0_O<;B$EB_ MSQ,4)Q"L*6\)`S=8!OBN1%"]J+9H\NCN8Q?+4/V0:."*_DRAUF9#X$54%`-! MB'KB0#$"5WG"QGOP3$KY!#-$P?E?L\E>H'T-8BXA+B=PI(.]@!]X>"&-&B%# MO8=A,5)VN/<$EP.70=V$_WZ2 MU84$\`@B>8B426"-$>N]EM$`]`>TZ/QGO278DM2POI.^[<[*ZL3M&H1S37)Y M"Y`1F?C,\C5(UXB?-U6&T)G.U2&Z7:DY`__QN9#`^0LP:_3+^KF=ZV7O]&=9 MD9H`4$_1:]5&22:RXN23#/'X%54`VYH MA9"U]&,]9?RD7OT&:_]E:75,?QBP-; M>+VC$-&2/)>X#-'X!+OW$2Y`_4QZ4R;*COFZEXIW<`U@[MM MTN/7$;R,R96\(*E"X$!+O_VF?A)3$!-0^A2+5A*2XH?,8,BCPLYMM1<4S.L@W7-XH#QSU23#D"5/BDP;%$`MSVE0IIU?<$?//-NA+GBDO)B#I65JN9;5:F[,",$<3,\,'M@QG M)PY`]5/Y@)F2G_=HV\>B\X$-T2[F\01BZS*&J.[-F6<9&;:#G_0\;$P0'O:B>"['VXN M>BR!!#:#'/%-KS-V]/4<>M4[G1P!E=LA\Q?.NPT^O6N`P+LTK33E>/J?D1+1 M0J2BW%PM36[T_+#5J]\;6WW[S6]'5VW8\_5\W2:5F8%BM/#3FC#7,V,^I`#C MP?'+EX/#Z0'\>_"JS8#.$1KLYRHL#NT_4W\^'H,___CQA]E[FO1D5Y_FU[/; M=Q^_9_.?/LT_WF"HJWOJ]:Q!@96:ID./Q4`X;XSUH56-KFK`M#4D[F+0[K'" M9^K/)YC^U,-HCMCA]MFO;6#Z_\$`0#`P](?@:[]L][LB[1W]=1]SLP]XE"4` M&:EP`"IO9A!Q:R+'MA;<(K*$]N1DAB,]J?C,`0MBZ3&ZQY8Z)O4*&YIVAD3F M'=XTLXQD2@^`%'EG=TA(L>O6*VJ=R2+WRC[K%H\-&Z,$J[E( MNSU],,]@N`!@3>!X*,E/FDH\^O<^54;""K*.E5B8A@_%$!+)=$#AW3+KB]S@3A4S M/8Z47NEO6@`,%'&%;4F1)QA3!4TS%=CSR$O'4+YES]VLG9L>L'<4P^5YNS<, M2%V6:RK`2&-GA1G/P)8N]GW;Y:I$^3NDW([,N2;7<3T?M\4;;GP0B" M%>Q[*H;'4>%W[]&WK)2L"FOQ2W*:%4TF+:-[G"I8^2X#VRA M#JDMC`5#+&2F2QE7-&V@,^.>@P8O9,X!?9T6N'F*QMG;:^U,&.C:/;K=<&K! M^8D\](`ILD31:N8/AGD$W+3?V)UST10UB/R=H0"H?4&\\ST.W(JP_1!^KC>[N&-89LK<"YS4$ MHKU-/Q@3,8Z1'$\]!0C'!\R95#0^::>P6P.)')()G-FBL14P4C/R9J"WC]G; M)*-:TE4:FM%;R=9$-'I)/W8,V:QD)O[2%:/=&PL=/-AOZVL=VH/H8MP,#5`9 M;J*=-I.%K9?4T008'OC%M:TP(J[!Z7T*8Z6T?W[``R_"WI(R`/>)^&M!%:*K MU$#<+:J!Q\F$_J7":80:S`(/]^%+\XH`!$JT9G1TJ)'.+DERP#V[D?'0H&S- M3:\(/:4VB9`6JYQF,_+`VQA#0BKK.1%L=I>^4]D]QJAU!5)HSE>G:@V1`8Y: M$BE-'`(?H+'<1(E'0)8KHA-5W%6B!+VPN8KG.6S/;ONLCJ7!8"3$(H4%"3-) M8V9N$YY%WI4(\P+G@$-C1#,R=1")BA7XV)\4Q5SF]&=+@CH0=Z[-8 MOX^*H21D3W9."]LH.0T=@-_;T/U-LZZ>>UI@>0E,HM_..@&\E!AT:DW"&"J* M5&)Y-PY@W2[,T9FJ-TSZZ;,W!MO-LS7-SO3!0B'! MA<_P1[R%V6>-ND2M*[X4I0V#F^",:D_9A<.`Z)WZ=1SL5JOJ">%M)EO[E2=R M8J?O1ACOEEVNU0%GJT-VIR=GJ$*E[L!D&NZ&??HVT,0-KE-R_K MVV%YNFE"_M*^P]YC#C3[ZS>%?,8-P+2\FH_&,0"OI]>BH-JG&6]$&+;-8$PPHI?@KE%*@]96N8++*+51 MX"D(?J>;5@S:$CB-F(5B+C[5]2^Z+51KU!#/V+F^$AR22*4B'R51EE#:22\]=.+=@,%E:YG5MX-LDAG8OV&FS3X;'EDA M..D9@=8#$9[5N6G1[M;MN&00DI%)6TE;%6!,IFKWZ"ZB!$[?_2V+VJO7/KS? M1$8#5^K*.Y:#FSXR"-BT0D(^N_K3EEP:/T+?9(W9EXG'.$OX]A#UA(^W?&P$ M294B1)/FUN7"5J$EHB(`6*41#FQ*DI.5"K-XY3&$O?R'@5S2JHPOP MMU*92X=5WORZC&+DDP'.@0S:2^B*IU^/_`7',;!8M<%3-'>M;'>/!:82EN(; MJZE3VYF_!64][E7H"[:0O"'[D.&](8.F1&$0L6T6A#9K7],X\PU>!&ZV5^ZJ M6.=/KYAZLQUNJKOB#N/;$J^%2T/VEN:]2!]\ZE%._K:--UM0,QT"7FG_/@`] M2Y;;2*ENGOKLHKI5R.$M[%KB!2].(@-)5O;N,Y/`Y%7DKB8F^'>=Q**"'%PW M4VLM+\EP4!E_F2BM81UPTQB2"TD M0?6/@CJK'47KO/M)CT(..S;5.Y)TC2L()4&$Q%)#E6.+E\1(4,(H*R:,_]?> MU?:VCN]T5UUV':X?=M\&)W2Q8$A>VN[7__D12 MLB6_9&D2!;;1+T7C*)9(410IDH_&BNU2L1M)%8;<0LC%6'EP)C5Z[E03ITAD M6CF?%H9Q#56T>0..Z0%2._4`EK%@N"F!K1^`=93+YL@;.#`S4,U^8"R85_L0 M91MNSI#*;TG"#WY>M=#[VP\B>`DEDL#[,EW*Q<:;,I=CBD=[\OC+57].Y7LB MS3$%B`")IRQ_[!NLCVSUSL.?!^D24^0ZHKP5UC=5=4H13)`V4>UFC*/P.QU8 M"=T"D9IT#<8E@%! MD2WC_85T6`"RP*MQS]&QQ&'PX.M';B92EK!HQVNJRXZ8T,./L)>Y?"SF+.)492YR*H=4=5KE5A;1$1XT&!%TK,2'D18IBD,XQ4'*#I*A M;S9!PH?F9[CI@24;^2R>Q9(YL>+H-O6#LA4)KT]?GI[!K65`\2H54T8=C M">&H#98,\\+"*`Z6'>,/;@QRX6'\]Y9P?FBP17>OT$\M%*X=@,*7[5B#\@6G MZ4EGZ`?S6-:F&%-*RNM589^4CY7(>%9/2*B@$!5"@"XI;CN4!5#8*AZR:D<: M.FB_I(CG59ZRE<_/K6FRFFN>?A"ZX'U.%V3U!RH-!<2:FM+F]"J*$,2X.TJ% M9YZZBK3.+\'XAED09[X?U;#VRF4TEZ&KL9&#Y3LF4,X7NJH8-']#,9@-!OJT=QJ M,3/>L+V)20=[G7D%!F8BTTUP&^,G3&+D240%,R9A!NCA'817&*F4=_W7ET/" MGWVCYF&_+:(LKI+9O'*NOU3W"VAT"*(IDEF+M[AKTJ1A@R[_(@ MY2+\G/X_)^,_-IEFF,Z62_0AF%$+#L*H1-,4(-7,3P(#B#46[RK))KI)V((E MS(\[*7AJ2.4=53!W*];:&8+`0C^%5/^:8YJZ6V&:%JB]\!*O5M"F:\],%9IG MF$&AUKM8L4^($516".J0CB4@34N!(>9ZRI_Y',P8P2\EU,NR@L1*-JS!MIJO M`&>'J+XRV;5:!NO.3E6UH]0*WH#QLLYVBZ7 M"X`]\Z^78F^,KW\$T35D*C"-\`D#+5IF$CZ[H_3S0*J@O6>FCEPZN_&LNU^/ MS-->IR=J9S,.?9+N5% MD=Q56H)-US4J*Y[5`1P*N%`5G@"NU)+6IC(2FTHYB<]8'G!] MS/7=+>(K>OH+(;VRH-7Z/A]M?_KS\C^[_5H;>`"]V MI$,*['9$+D<:]U<;O5C+LAOBQ6KFQ:"*%W7T8C7S`KQ8N]<<+U:3"FFH%ZN+ M&PWR8G6QH"5>[!:V1AN]6,W:=%BI39OBQ>I:3HYBHS7(B]7%$.[%UCERJ8MT M[L4V+W*IBR%;>K&<=.Q?'^G8%^LMP$Q=_HE]YF6ULR`RXLDWMAV\,Z74X#B8 M=*;AC^[YY=^,R!X3>+?/.CKI9C_+7A4'B$QY>O(XCN;^[!BNK9U-9@G/&?9G M[%LHE7EG@O=[$4X>H+E4:R(>06JP>3KYGG5XS&^TS" MI@V#I5]H)IZ)KJ27GW2Y].Y/E(1+DRE>9%E!LERNZ+*`M1?A%= M?:+;(C'2+B8U80XX%N1!2,<2XG<<'NN4?W?,OCOIBH?T,OA][DWHHN1?<8_` M'E6_!7F:']^%8;(,D^!JMOQN/,[9WV.H[%,8#"T[833MVDPDJ?`/&IJ\??)T MS]HC^+`?^.DHZ/WS<,*;?8O`E_IMPT-*_I*Y-P[F&Y]T*@-F(P,`;+.K8\"C M70QXM*\!8W1UVP'++]G#@+<7"6>/(N'L0B2<,EV[//Q\0Z`%'%*4 M(%=\1%@5%[')6"R`+GH/`"J]SK#_2B`9<#25WRT`34'@E)!??35;Y@%;Q&V* M1=0#!%@%J.)EP&_ZO,.+WG@$OD.F2\:SC3AI:^6DB7&O%.O,1-#&]#9J0)Q? M(#Z2M\@`;3*\S<3`VQ3F2/UNR'6TDJOBX'`,''Y#G)'%OPZ,JZMSXPT0:O(K M:LRWB#(%YDQ$5WH#OC:@\^`5.3\A8B1?OR*PA^@"&QY&DH&(",SU(IB0C>Q8 M!P8$HN!EK`F_[2PQ;O$:28(D(;"K%)0D0Z@[0[G[$`0&1:Y$Q[R!H<2Q##]$ M%(_@<0*#%Q!!B`P='W/IOS0.#:MC]5YER#OPP.FG#\[9`QM:\/N24/8)/%Z^ MU8?NRX#E%4`/2[R\YEO*"=XM$S;&SH=[)G-.S_"]I_@U1P]C(X63;PXB!@QX M'RY"$U>8IML"``!1#```'0`<`&-K,#`P,3$T-3`R,BTR M,#$R,3(R.%]C86PN>&UL550)``-]:?10?6GT4'5X"P`!!"4.```$.0$``-U6 M76_:,!1]K]3_X*4OF]1\TFXC*JU8VTU(,*30;M5>*N/<@E7'1K8IX=_/#DE+ MML(R54CK)`38.?>>NBRXLOW00-.:,<4,\=@)8T1S<$&$BL`5WA7'"1+=$Y9F3.L#9I M49_R^S%6<(CL=XK,U,VGI(\B+T1HJO4L]OW%8N%!.L'2%45RCXC,1ZY;$7]; M28S1>R\*3-S3DT3,>1JC]:ES"2OFU&B*412$D6L^K?`J"N+H0WP4_EA'B]E2 MTLE4H[?DG0$'QZZ)"&M>#U&/$P]U&4.)A2J4@`+Y`*E79F*E260*RE7'6?.5 MCR7SA)SX)G?+KX#._AY:@>-&)%`P2N$.%AE@O M9]!Q%,UF#)QR;BKAKN.0^\"X#(^.@RBR98_"*/IH\QP,9[:E3!]>YC/@"M0% MUOAV9.!!JVW@`\C&(!UDF:Z37LW0=$&RHH/L0[]A)G^EG#QUKFW1#SX4OJV=.:W**$;A.5B'$AY M>T&5V:3CN374Y>G(="TE$$;C\#.`&IJ]WU4*M*IH&!X#ZSA_$^GOUD%5O6U: MG\'L6)6IP7=,#=U0)D"S\5PJR(#K;2H;Q.Q8]0!S/"DX_[3Z&Y$[5O@5=),% M?QZV8VU#/0791-TFX*.^M5.F*^M2L2150O/WMR.F?A27"%_-LZS(YE(-615_ M)T6V:7M4G&+[:B,A4Y#F:A`$GCVX'+0`^P8L+@MF-)-42*J7'2=RT%P9K6)F M=6#V[YIM?B26YJ/_R/S&'BZ]'KT>KUN/BM+N%J>OJ*6;.&WR0GII/Y_XOUR/ M[-7W\<9H!C\!4$L#!!0````(``][+D(MR#RW&PT``%$.`0`=`!P`8VLP,#`Q M,30U,#(R+3(P,3(Q,C(X7V1E9BYX;6Q55`D``WUI]%!]:?10=7@+``$$)0X` M``0Y`0``[5U;;]LX%GX?8/Z#UONR"XSON31!,P.G27>#39K`R4R[^U+($FUK MJHN'DA/GWR\IB[%U(44Y%DW:!(HFD0ZI[^/ED#SGD/SXV\)SC6<`0R?P+QK= M5J=A`-\*;,>?7#1^?VP.'C_=W#1^^_7GGS[^K=DTKJ_^-1@:][[K^,"X:=Z! M"#H+XYL%7`#-"!A/YB+P`^_5N`)CQW7EK`GIBP&<1YMZS`:QO-)OGN'TN$Y\9)J]=!Z59OAL'< MM\^-]4>?(##C+]L(TKG1ZW1[3?2OWWWJ=S5^A,II'Q#^N? M2+ASW$0INBFJOQ@WOM4R!JYK#+%H:`Q!".`SL%M)3FY"TD#EZ8<7C35>BQ%T M6P&_381;/S\D[$4/E^$3BK!2Y^(=]O?[FX?K2GPS*;CAY'I6ZF$.+.B MI-VSL[-V_'9=&N&PHS?Q=5C'[>7+I73HG(?Q-V\#*RY(#CH&50+_U21B3?QH M61FM16@W?L4?_`@#%PS!V(@1GT>O,W#1"!UOYH)&\FP*P?BB8?WHH#+I'AUW M>CU<2;UNK_\"/R$_3MZ_]R(E>;_QQ`+V81).B,WVQ MO+BUX9=MKGS:VT(]=,(?0Q#-H?_]$O%#/CA.W!SYK0UY,EGKAV@)N=744.ZSHO!%9K$CRW(6QC-NAGS*K9Z29:::U?7H'( M=%Q:7M*5*L%, M):T1XQ1E`:WY"#3?2J8:TJ(,$KSVVVP23R93F,$B`KX-;((:9_7>`3[^*/JL M&UBI;[EX/A3`I6]`O6>6"'GT?H$_;^/.?77-"LG/-$7`O&OGW[4IX MZ.IZ_M%U*^`J"\$T5$%1$<;(=JD%9$V3-8[:*P! M!8VI4$PAZ=Z@86OQ'_!:`*M83A0^ M:H]-O1:%9@@F3HC*P8^^F%Y1'1:*U8_N%DQ,=_EM2N_,2KP?$WW)`N'W!QB$ M,Z2PYF&\UO[DFF%8@(PE*0SADSERLW59(%`SGM5B;3#";<>*\I`*9&J9:^07 MS/2Y!F4U7%LYK5I)H6HHDJBGC.:>9\+72D5%25*_?GB")K:B/[YZH\`MT`[I M]V]X5DN=`4PC0^LDDDVR9*JZ^DM2CV'@%4[!R.<"SD(T`F@#>-'HM=`JL-,P M9FALATC;H2<-8QXB?$%LOC'KXY=;PM,HEDRJ,.>B$DD8=CN=5F=7'-EU6#1F MYVN07G5=::N.,L*2JDH3EZ&BF(PX1FC,K%#=2D"NT+Q#Y9<:W[-]B]H5]X-F MKMF2KJ8N+6;;3>CU=T@OMH)GZ-`G=SE&"=]<\UN:.,\M-PB!?=&(X!RL'@9^ M!!;1M0MP^[UHA&""?Y%L@"@MA_P:68+6NBU"&:.$!`WUO4L M(PFS8X6996S]":,3A1EE5C8)HP\*,RJVI"?$SO:`6,;DO1KI9*5&,SGD5C9Y M/];;RJ:_)\SZ.69'>\+L*,?LF(_9QW;:);QM-S$KM*I>6]O`]^>F^WGNV[G( MHWB:^H287*)/_<@;X?B3UFPOO#3A)]06HH%OHRE8O-CS+1!C^#>(QXX\>(XT MA^RS5,DG*-:+Q&R)Z9"RR]?_`M3,S%FTMOY=-4&6L%"C/Y=K'VH]YB1$(7J`#G:L,6J2+EHWQNP4DJHTJ9)U1Q.LIHD\?8(M M7C?6`$;CP'6")[2D")X!I+9%JJ1HA*RBI,OJ&!<)8URHC6W]I0`C25-1.AI-1Z/I:#3EH]$.)Q:M>,4C03=\ M)ZF\`5*"/K@M3GD3I@0]\)WDLG9_Q:/0V+X#Q0/2&,OMA-GIWC#++M45C[QC M>AD4#[ZK%LDC?SP>KX;)1C`09JK&)G/%/Q"2"NM09J`,X:>P)JT2D$#H*JQ7 MN2-@5C/1/>1*J=B>PFL)NB.9D%-8T[)\T(2>PI/PG#.#<%)XW&`Y1`@]A8>- ME/><\%%X7*!YX0DUA:?;/$'GQ#2AL.&E).J),*Q@?:E[+P77R:_ZB#M]Q)U2 M&S(X$7WOZ4TB$FP2V2(:(34J71#UG;EPO+EW!<8`0F`_FBX(\7`[`?=HGGX_ M1H_1"/L`':L@Y+%*8C$\UB#<>#/L4KOW'^;0FIHA"/D95LTL3U`%X^QZ`1TZ?IW%4.`*OWBA#U'NE8+GW<8:T%KI?@885 M&=P;??L1P&?4 MR+N]41=W%]SZ!V$(H@+[*W=*Z?Q9VILE@3>+YY@@9OLKD*D9%6K77TT'#PAP M"!QO-(=A//BS4'*D.4A/G&].XG(HTS)4R9H1?@$13R,L%A-]K!'==T`7K1MC M-`60IP1I@MK/J/V,N_8S:I^9>CXS?6B%LLZD/3FTHL@>53ID'Y)%BKBNY]@)J+Z#VH1VP#RW1`W07`45.*#I\ MG$>G6X8MD1*/K,^%K'^(GCSM1]%^%.U'T7X4[4?9L1^ER.O`G@(8>&'6_NW?C/((QPS0W!7W,'`GO@84`*I?P&R M]'L=!UMO'&QE/-BA26WZZR\%X+A%4^X[-,*]%B-9O1:`A4?%4N0$H%L..?2= M"`4RPE`Q6U-:1,=XYPII)_7]+I/)>),).WMT1I>RR$2B$4H7[(^Q.U&5'6YP3:J?J4GO?K=8]A17G)C=:]U36J52O-YFI*4RN]"*LOKP7 ML)>2JWX%EL(C2=GE5T<*ST!9M!3N?!7NNSI2>-K&ONCJ2&$%LU%0*N&ML*ZA M!Q\0<@I/6EEQ"X2>PA-7UF:TA-ZQPCJU^BXV0EIA#*4R7WD2NL3&@QIH2:PBHD M$\I+&"D\+^$Y@BFA>:9PQ97L,"$,%5;\&^X/(LP57CK0=^00<@KW3_;F.D)0 MX6DVYYX\PE3>:8P^P5&?X%CM!,>/;?RQD1D"],?_`5!+`P04````"``/>RY" M+(8(CJ80``!ZW0``'0`<`&-K,#`P,3$T-3`R,BTR,#$R,3(R.%]L86(N>&UL M550)``-]:?10?6GT4'5X"P`!!"4.```$.0$``,U=:V_CN!7]OL#^!S8%BAD@ M3BS:>79F"T\RLQLT,PZ2[,ZV01'(-I.HD267DC/)OR])2;8>I$3)\J6P#S@V M>7D/>8YX^=2'?[S.7?1":.#XWL<=:Z^_@X@W]6>.]_AQY_>;WNCF[.)BYQ^_ M_/S3A[_T>NCS^:^C:S3V7,45_3HE+J!T2=&N_^IX_?T.7]H2X M`;ITO.>)'9!=Q/\_0[Z'_OQT?8GPGH704Q@N3O?W?_SXL4=FCS;M^<+NWM2? M[Z->+RGSC\B[4W2XA_LLW_J7:W_IS4Y1^JLS2NR0I48SYLXIPGT+]]B_`^L6 M]T_QT>G0^G3=^SQ/V#'LMA96#NH@MONH=&KHNN>=(`79.` MT!_>:S#;^847^,'E3<\;'@DO3L.W!?FX0UY#XLW(;"?^EOHN M*?&$_RS+C3O'W_94_/$7&(TH"?TE9*]6!R*U4%7KO M3GB:N[?'_8QQM8]^V?GEU5NQ+-_B$II MU_&0J9)>M[3=+^QY-U[P1RU[/G]^71`O(,&M/7')+=/7)U;4 MOHCMM'HH#_P"IC6]BQ!O8[ M85X*>-MB:L)>KK/:U;5E"7ZRZ=F33<.1-[LB],&G<]XE"S]^(S:/F(KMK9$' M1G35CN@R;G!\$JF-F43")F)&4E3,Q:6 M9AW54]3TN<_"5FMXP/IRH1\+XV.AGO0O]V?\,[8.C_!7,I\0FFO!\K0MJV7F M3Y>\&Q>!<1U'M"C4.SDY.CXX/KX?=$FDC1+BB M10)X[04B=R9(KA`7>-X2^.%-BX8GUA9!@_$+H*`A(&!2' M--HY80:3NNYH3V(,XA`S;5B,*F/3R,)H@BS$S2-N'T4%@(\MMX$<%Y"S0>:^ M3U?@WS'[/>N]0&]H@%F7NO$PLU9U;:Z^JIG^\[B/2A:)SNV0Y-I8F0QHWE]6 MMO8$^F$\,Y,86:^&<3/PRP";@L'UP$"L"I11*%D<4,*&8_BY/[>=?!@F20#, MZJA4;0I8!SD^WT4&@(.ES1`($E]1/UB0:;@T\@!7,R-/V10\.+)^?GA@5>.\ MD(KG<38=,'4SA6NW?W^88_#*C.%'!$Y'-,O/#'5+CJ% M^*O1JY,/^'5R`+-?X88V<58!?D*J"MTV^?G M9R]TPK':S7\4#S$C*R@V@X0=Q`S!LWAC M/-&$O`X0"$J79YAL;JJDJ?>"MS>L&S8S MRZWB0I:CH!,D49'7Y)%/H]M>^,V>R^($:3)0JF;+UI\=LS*475M!W(PIYC8' M(QBL@0*.RG+N9"DMP;OEA=!X#^\G2NSGA>]XX;D33/VE)UOZ+$D+L]BI=D![ M&^D@CH]C4VAM"ZV,@2]EMH,+5^&*]MN;VAA;S;1XI;*B-J`%\=7QG/ER?N&] MD"#D4?\U^=_2H60VFG.G-%JSRH(A\52XI4V]$TLIJ;@(M"X#)86@J!3S6FNQ M&A0*W"VMA[NHG,[(4I/O*K'J5">,A#^_VO.%2T83WJ-.U4+-IP.58ZYP;;;A M059TL1W&IM@2_(&JS1%A":)3L[I0D"C+?AED4(Y_>OL7L>F9O9#L^*Q(;(+M M&0^T"7)T(J?\IS?$S:'8GF'>-\8F(S^:O.T*<+L)ND[$<&6LDRJC6"F@\E"> M"90G,R&)NL?AA@=R,9@ZZ;*@;I65UU:_S2"FH-A>TFN#LYM*FD<*7\#`]YTJY4W4JDG=.T M"AO>RW-TK"/##EQ)M`WD&E(T?"-17>)62@_^/B*U+_PAT+?J-'6W.B2L^C"U^C9+0.VL=>FHIZ`!O(*^.^%3TP"P-*\)594YI+TG[$0Q5\B- M=SH,;`N]7'9Y^%T*!75(+%5@996!:E$O!#08]M6,@:PCN9*Z$=S5!R,7QH^L M,#H5TFF$<:9"-[UPS6"(5C->P8JPK!N!6'TPFF3O4OBE$7*!AUE5.PJ,;"6H MN>H^'`RSW#:\=Z"!^QDV=V2S0.DN`?CM`37V!9C>$-!\A7QXD)OB[=8.@,V` MX6;`X!BON]9O=)&_]%(_21I0YC>YKNX@N^W>[&5\F^$0#+_U0]M%Y>].,,MS M]>5Z"OA;9O870K[;3$YT3*^),Y\L6?OP'?=E3-?(`\/\:D?T=P_&:P_,)(IL MHC%%&:M&Q=$N5)R#&M]0F700F1(,Z46?F+%^-&O(N)[XA23CAUM"YXXGNUVY MH9&N**[@F?[^]<-:$A1WT:#Q`TJ5U4%9;E0?>9WZ^?KPU_6Q&U6(7UDAG1"O M4@7::I97[/9/\5^21]N-CEHK+GO+IP`ZNY\K5O\];?&X1^1'R7T3ANYNVP!$ MZL()PS>U*2B2G-.78=QRM_35]NQ'(:"JN\F5*6$Z&%7Q^D_->$)J;-M M@,(24(:>[E5DBA_AI:BWSO=7?H+XG#P02LGLQG9)P-^0]4BX'^,']C4;$UY1 M9]W(Z>;2SPRE"FV/M,?,R6)V;!LEQI&PCB+SD6R2`I`HP8!\MH(>5Z-_=^G; ML_?HG1T@&RT(P^2%C-,\R/*I\\@"#Q.GJT:J_*2FNB#X9CK)2K]!I6_Y(?"-A#I3[O)D,"*6EJW=_22W M^S$KJ!.3[QO#T9Y_1Z,'Y@CJ]NQC*0%C]:BK;,OJ&$_^&UUYK]Q!4$@!HXE\ ML=KCFV3I=67`V#Z"32#@+`33>PE4-(GI*T4*Q5S6D\QM^E:RGT"=%)C+^?+U M3]P/\Z2.39G=3]`*L"S5=[610=)>Q;$\_Z7UL&TA)-UBTH.H+PM0)P42@JI\ M_;%VO,M`$@L8O`^@%5Q8CLO4T?]*6B7<+\4.S7WER7YE2D/,KWN*W1HJB6_J MH'X;F!2D[\89_"IVJ10`>,I^'#X1FI3[C?S@`Z5/MAAV?PY"UAF%1#+8UY+%D=+4,(POL5H#9X*@5:$HA="`L MJB2:2@VP`1'U@P69ADMQEE/23MG?@7B?*53_W:G)=-HJNSB."\_MQN[CK/LJ M[R'H*^5%0MDB0#":WCS9E)RY=A!(3OZ6I82F;K9X[>Y]]DUA80L*4D3/! M+<&*S@9K80$EN)Q1!:I+@(.17EQ]6M8J40)HBHM2];?J#0K,+KFE%HC.M2'D M'M&F=ADJN%%@[1K?ELEZ[03/RG%D^D<8DJ9*U#_A'>^"XGF-C0\;.HY7CIL> M!$J($+,R#PV`D9=^0+[Z'GF35_3Z9SA6KLK4WX8S3/&29T2[PW M.TLGY4:*IEF8`$356;51I(.C[@;+&`.2-'`\SQ:L?\+],,7QR(;)PS6;(5E1>S^R82K059,EQ6,)3#`.EP:] MV230#*X;1^*#(H%-QL&-4>3)VXF@6$J7`HF;!\C3YWZ_;UG#`R9@P5@+XV/! MU_0O]S?L<-,A/)D0WX$&L3%/GI<&,':U0IB@2@A( MXF+I^ELY!BDN1W:BBS(-CAI:P(1EF$R-'RJHE":Y`C4LUY4'\17IC#"]YH'U MP=&!@NBFCN!OCD=*\FX2<+_!0JZ,"[ M2EM#*->%V=>1:C%.K@OXEX[>B),DCV_*>:5\`B`)9$O5/_,7+ZHF^8U-*&T` M`&<`F)Y+4A`DX:\$)A!C==:P2M+"\KCYPL\`]W.4[LAZ5CO0<$-H@,RO7-NJ MJ(GMS*LNY_P*NUK3JXHLQF99Y?[4F;L;UIEL1>_2NQRCPJ5W.0/,P+8!/7HJ M1)90UR9DVP!88UX6KFU?")WX4#5@B2HP/^E<_K`ISCV78-_^ZYINJ8A%;M[F M$S_?1,7?@5[5E"E4>V6\'X>S<6X498=_1U-C[[&>]]MFLY(6R0N:B@`C7L3. M7K*T[&_V%_LPL0/"_O@_4$L#!!0````(``][+D*I-?^TB`P``-4L`0`=`!P` M8VLP,#`Q,30U,#(R+3(P,3(Q,C(X7W!R92YX;6Q55`D``WUI]%!]:?10=7@+ M``$$)0X```0Y`0``[5UK;^,V%OU>H/]!Z_VR"]3Q*X]),&GA/&8WV+S@I)W9 M_3*0)=I61P^7DA/[WR\IB[%EB13E1(PC7J#HS%B7TN$1>4G>>TA]_FWNN<83 MPJ$3^*>-SEZ[82#?"FS''Y\V?G]H]A_.KZX:O_WZ\T^?_]9L&I<7_^H/C#O? M=7QD7#5O4(2=N?'-0B["9H2,1W,>^(&W,.XQ"I$?F1&YKW'M^#^&9HA^,>C_ M;8/\].UL<&UT]SJ&,8FBZ4FK]?S\O(?LL8F;07SW/2OP6D:SR9[\QQ+CB7&X MUVV3DVR7^]SF.W?=(].MGO_&_=.I@N ML#.>1,8_K'\2X_9!DY3HI"K[BW'E6WM&WW6-`34-C0&I('Y"]EYR)S>II$$8 M]/GGXRE\7UJ%S$L9WN0ZLF!H)@`;7@OZKRSL'[2[74I[ MM]/M?J+W^?M%8,T\TH;8GZ9O7_J1$RVN_%&`O;@6#8,^Y_?!5:HZDV?+B]L/ MO=B2ND_KK5`/G/#'`$4S[']_(#;MWC&QN4'>$&$9L*+B;X;Q86)B-`E<&^$O M"(479F1N!5;J/F^&^FY*?0QQ3)?S*?+#5^"6O-.;(4\>EKSQ;@'N11J-(^0;R.;X:9W>ZVCBA]+'NP&5NI9 M+O7K`2ZFR$;.DB/RETV2R$_?^^31-GW\%]<[=S>/32T%(HQ+;5(NJ50-13@FB_!*+]K1!MTXI8&V8S,=)G4$YCRC53 MA^XB\$S'%^!*#-0ANAR-D!4Y3ZB`L+2=.GQKKHC]U)\[H0`IKX0ZS/<(.P%Q MI78!IVD[=?@>R6T%L.++U:-9#C7GY('8=*_(L#7_#UKDP,JW4X6/VV-3EU6A M&:"Q$Q(>_.C6]/+>8:Y9]>BNT=ATE\_F],Y-B]=CXD^],/Y^CX-P2AS6+(S7 M#.>N&88YR$26RA`^FD-W\UWF&%2,9S7I[`]IV[&B+*0B1>EJ.(4J=X_/&*31O@>%MXP<'.\0_KZ"Y[UQ4X? MI[&9V&(W(G_-K'32\:/$HC4E;\:/FM;$<5\622,<>'(S"/;\('?.9@381OBT MT6FW]RC##8/`'R&,D7V]K"D77HPM0CA$L24MZ028N,K31K=AS$)2M2!>PYH? M@ARY=OI"5[>.='%&1-9VTI.+>K<<`14%7O^%ET[=>)&8HE!^;^K86258* M8C7G,Q`EI#1U8T, M83]+2.G5DA3^*CG#2\):K3N,F(YLS+'6'4:>C(T`L<8]AA_:3$C9UYJ43'0\ M8>5`4U8V:LK$154O8^*0I&_D9X(248\U)V4CSKB8E"FCYW-H4K;R] ME$4D8ZLV']#W_9GI?IGY=D;E%<\`'TE-SLBC?F03!?)%*\YIG)GXG,SBH[YO MDZE)O/+S+11C^#>*?4P6O$09G745'TFWH#;3+6R):?G>V>*_B#0S<[J4WFXV M09&Q4IS<3I)OIA3;K8FI:WD2.:+"$FH1KXDV2[4`?L%WPU\T!$B75%J#KTXT MV;8.PK)J:E'4'=7VPQ(=L)*>]^&T.W?#/Y=S5>Y[S%BH0G2/'9K,%KQ)OFG5 M&#>GD%RGR;6L6O&TFB;*]`FQ>=58`QR-`M<)'LF2(GA"F-L6N9:J$8JHY-N" M#F\'=7C8XJB9&"LZ:O"E=%2, M($W'*J%8CW&CZ8A51E#%J-)T_))6_ZU65L"34&7(B-)T3G8+DJ<,VHT'=I3"BW&A:9C-T\EQFC1=.DILZ&*A4,U#107 MJ($9.TJBQ2IV*$J=70^'6\/AUK#-L1;;'#_=,@1/:=?S_#UL0,42A?HY*W@>T4 MU6ZG`/E[58A64Q/^C@J>(71Q)1_!8O M9&*TS,0(XV07](!J9SB+^[)O/R#\1+I(ISOLT,Y&^TX_#%&4$XV5+@FY),@E M;7?,G+#]Y=A4C(JTZZ^F0X<3/$".-YR188"^'Q%*B3):YN5\/[O!-ZT:8S1!6(9!GB%D'2'K^-Y91\CJ058/LGJ0U8.L MWEL'=0JG,!J&"&4YX4^>:QUHEZ5'/J)1ZQ"\+%WW!MD.R'9`MK,[_(!L!V0[(-OY6+(=%=*!]`$< MH!D`S0!DW#7.N"=^@)]0Y-@I14P37,ITD1DC^SJ/72=UM>>G7.F(%L098*G64+D-6`K`9D-7:' M'\AJ0%8#LAJ0U1!G-=:/%8<,!V0X(,,!&8YUGR";[<@M\VZHY;(@.27>%W%A M=B2G!&1*(%,"F1+(E$"F!#(E;QX`%\T$M,^:2)!3/$.I]9+[K?F"+`MD62#+ M`ED6R+)`EF5'^($L"V19(,NB>Y9E,^X18UI]$NT"1:;CTH,GRV542D=59+Y# MMQEGD2A3;8X#\D"[F@>"TS$AD_4Q,UEG&)D_IH%#7IP36L',%YR2F6>K&N6- MX],CFJ_\)Q1&],T-T%\SAXQ^?8\"DL!>=`>EF:V-#[F+DUII8Z4XN8-BOIG: M[&#.5U(+LH/9$N^6SRS5`O@%(8/\$3+(L#^Q&F1%[DFM7RKAD-[-$\&IV$I0 MDZ4LNAL](NPYOIGOX;>YB89:EMT_[1N^$YQ7H]WZ3O!.G\@^_!-9="S@CF89 M"U6(R+NA(@_!>,8W57V./78K]+7K^,O/M,S/N")=A1-B*4-&1]KQ2 MNI^_OPK#]I],A^!Q7#(N?'ZZL[?%W4;-*6 M52,,<#0*7"=X).\N(&Z`.Y)Q+54C%+ULOJTR532=^N<@2U\'%7FU*O+2>&A" MD]OTUR\JP'%-IMPW9(1;Y"-975:`1<;%V]>3 MF/)?#M=TM"_Z9OB^IBLJ$26:.IL2GPG?UW0I(?X^^+ZFSGBK#3J,,TW],E_$ MR8C1=!$FTHXR:C1=B(D.$TBH.=!T["I_@@$C3-.13&Z[#"-)[PZW>3I#PLJA MWGU-<"X$(TC3^9#P\!'&C:;S'N%''`\UG?,(O^!X",Y7?)A+PM.1IH%FZ4.] MCV"\$I_B?:3I7#"S58'Q\4EO/@13FZ-C/:E)[;E+N/BDJ>/E[;5CM&CJ;C>V M0S(V-)WORAR!FU!TK&F#*3@=@+&CZ>"\Y;D0C#5-E^#\4QP8,9KZ(_%A+HP< M39>RY"1JCF3KX$ M``!<&0``&0`<`&-K,#`P,3$T-3`R,BTR,#$R,3(R."YX":!XQ3 MZ)J75$DV@3N/!E021>&&3`07X13ZWIB&9`<&)*8^"`YWO_4NP+4<@+%24+.J/B#1%2F=Y(K3!-`M7W[*@6K!ON0W$S49Z(N%^"\I=QY(2A=;@8Q0M M1QQRAE]=2TA!S9R.O8=Y<762F,CQ\@LVU-!C)@ M%83N*3!-F_%8$>[1$@0C>JA!Z&%=Z;*3!4@>EG-P<&"GHR5K[Z&!T3J[>PW7 MK8#&3UZ8*J-+ZKCN+R40%YPGX?*P?"5M-8VHC48F6E')O#)T/6X!HVU\]0(K M5V#/S@9+UCYE5=.8>M9(/-HXD"9C-AQ\/TH(*9<#I)RW5T2.J+HB(8TCXM$- M"H;S(Z1H-5!-VX[7671Z@'[1/A)3JTXI]P_Y0KIJ9=I)5A MZLP`YG>,C2Q?`BE"\>F0<9:&K-\P,*'`EYM'W(>,#$IL\'R:U2W^WK;GV>8= M);C07//#M.V1P$N"E.,"GW-P;E$'C"1.@9Q%MAJ7]Q;JO%ZT'HL?>E0E MDM_W<>(VF@=W`QRF+E53F=X-H3T!4JK3-:(\]>59Z<#7(Z M>+Z1A,>1P`S?OU(UXER)'O5I&&GG&PE5#U@CVGZM:#MP)6#&_G_3L#@N].@0 MTI-`2V^Y.T;,='&,O(](3^/KSQ!V)`6N48K1>'8*R0D6T-5#2_J.S-4OCZI@ M&$LZ[!CEPXE9;*OO$6GAQKTPQ;VC]G8\XP--&.\`"0+#?KL5J,JY10$0N*0` M)R]T/TC^Z4YRR]01LR3U"\WT@V0]/_VW2!ZA2Y+_HT2XK`9MNWQ4Q*?J4;*- M)1!2`5]ZJ%UQ/P'9%!NX73;(U++N, M:_DB)(QW%0WU=]\`,HB5))[J&$HF>H72=X\M7+F8\&]2H)_(_)*'LP`75KV8 M9+9Q@F"F$CUZ+D42=8P,SI!^30+-]0DTWW0"N^L3V'V+"2S?65<26#1Y4PED METR;Y+'*\C],IVUGRP(V_P%02P$"'@,4````"``/>RY"=C;4;!0A``"2KP`` M&0`8```````!````I($`````8VLP,#`Q,30U,#(R+3(P,3(Q,C(X+GAM;%54 M!0`#?6GT4'5X"P`!!"4.```$.0$``%!+`0(>`Q0````(``][+D(35YBFVP(` M`%$,```=`!@```````$```"D@6`Q0````(``][ M+D(MR#RW&PT``%$.`0`=`!@```````$```"D@9DD``!C:S`P,#$Q-#4P,C(M M,C`Q,C$R,CA?9&5F+GAM;%54!0`#?6GT4'5X"P`!!"4.```$.0$``%!+`0(> M`Q0````(``][+D(LA@B.IA```'K=```=`!@```````$```"D@0LR``!C:S`P M,#$Q-#4P,C(M,C`Q,C$R,CA?;&%B+GAM;%54!0`#?6GT4'5X"P`!!"4.```$ M.0$``%!+`0(>`Q0````(``][+D*I-?^TB`P``-4L`0`=`!@```````$```"D M@0A#``!C:S`P,#$Q-#4P,C(M,C`Q,C$R,CA?<')E+GAM;%54!0`#?6GT4'5X M"P`!!"4.```$.0$``%!+`0(>`Q0````(``][+D)&J.9.O@0``%P9```9`!@` M``````$```"D@>=/``!C:S`P,#$Q-#4P,C(M,C`Q,C$R,C@N>'-D550%``-] H:?10=7@+``$$)0X```0Y`0``4$L%!@`````&``8`2@(``/A4```````` ` end EXCEL 10 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\P-3DV,C%B8E\Y860X7S1E9#!?8F,V,5]D93`U M.3,Y9C)A-#$B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I% M>&-E;%=O6QE#I! M8W1I=F53:&5E=#X-"B`@/'@Z4')O=&5C=%-T#I0 M#I0#I0&UL M/CPA6V5N9&EF72TM/@T*/"]H96%D/@T*("`\8F]D>3X-"B`@(#QP/E1H:7,@ M<&%G92!S:&]U;&0@8F4@;W!E;F5D('=I=&@@36EC'1087)T7S`U.38R,6)B7SEA9#A?-&5D,%]B8S8Q7V1E,#4Y,SEF,F$T M,0T*0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B\P-3DV,C%B8E\Y860X M7S1E9#!?8F,V,5]D93`U.3,Y9C)A-#$O5V]R:W-H965T'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$'0^ M-#@U0E!/4SQS<&%N/CPO'0^1&5C(#(X+`T*"0DR,#$R M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$'0^1&5C(#(X+`T*"0DR,#$R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2D@?"!(;W1C:&MI2!';&]B86P@5F%L=64@1G5N9"!\($-L87-S($D\+W1D/@T*("`@ M("`@("`\=&0@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S M8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I M=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA7!E/3-$=&5X="]J879A'0^2&]T8VAK:7,@)B!7:6QE>2!';&]B M86P@5F%L=64@1G5N9"`H4')O'!E;G-E6]U(&UA>2!P87D@:68@>6]U(&)U>2!A;F0@:&]L9"`\8G(@+SYS M:&%R97,@;V8@=&AE($9U;F0N(%EO=2!M87D@<75A;&EF>2!F;W(@6]U(&%N9"!Y;W5R(&9A;6EL>2!I;G9E2!F2!';&]B86P@5F%L=64@1G5N M9#QB&EM=6T@1&5F97)R960@4V%L97,@0VAA2!B92!C:&%R M9V5D(&$@9&5F97)R960@65A M65A'!E;G-E(%)E:6UB=7)S96UE;G0\+W1D/@T*("`@("`@("`@("`@("`\=&0@ M8VQA'!E;G-E'!E;G-E'!E M;G-E(%)E:6UB=7)S96UE;G0@9&\@;F]T(&5X8V5E9"!C97)T86EN(&QI;6ET M&%M<&QE+CQS M<&%N/CPO&%M M<&QE(&%S65A&-E<'0@9F]R('1H92!F964@=V%I=F5R M+V5X<&5N6]U M'!E;G-E($5X86UP;&4-"@T*#0H-"DAO M=&-H:VES("9A;7`[(%=I;&5Y($=L;V)A;"!686QU92!&=6YD#0H-"BA54T0@ M)"D\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@("`@("`@/'1H(&-L87-S M/3-$=&@^17AP96YS92!%>&%M<&QE+"!W:71H(%)E9&5M<'1I;VXL(#$@665A M'!E M;G-E($5X86UP;&4L('=I=&@@4F5D96UP=&EO;BP@,R!996%R'!E;G-E&%M<&QE+"!. M;R!2961E;7!T:6]N#0H-"@T*#0I(;W1C:&MI2!';&]B M86P@5F%L=64@1G5N9`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`B<')I M;F-I<&%L(')I2!A M9F9E8W0@:71S(&YE="!A6EE;&0@86YD('1O=&%L(')E M='5R;BP@87)E(#QB2!O3QB2!O2!S96-U2!D97!E;F0@;VX@83QB2!L;W-E('-U8G-T86YT:6%L('9A;'5E+CQB2!I;F1E>"X\8G(@+SX@/&)R("\^4W1Y M;&4@4FES:RX@5&AE($%D=FES;W(@9F]L;&]W6QE(&ES(&]U="!O9B!F879O2!I;B!&=6YD(')E='5R;G,N/&)R("\^(#QB2!D96-L:6YE(&9O2!I;G9E&%T:6]N+"!C M=7)R96YC>2!B;&]C:V%G92P@;W(\8G(@+SYP;VQI=&EC86P@8VAA;F=E'!O M2!P2P@;&EQ=6ED:71Y+"!L96=A M;"P@<&]L:71I8V%L(&%N9#QB2!T:&4@=6YD97)L>6EN9SQB2!O9B!T:&4\8G(@+SYI2!B92!S M=6)J96-T('1O(&-E2!C875S92!T:&4@2!M87D@97-T86)L:7-H(&%N M('5N2X@ M56YS<&]N2!B92!L97-S(&QI<75I9"X@2&]L9&5R2!O M9B!A;CQB2!O9B!T:&4\ M8G(@+SYN;VXM52Y3+B!M87)K970@:6X@=VAI8V@@=&AE($9U;F0@:6YV97-T M2!L;W2!B92!S=6)J96-T('1O('1H M92!F965S(&%N9"!E>'!E;G-E2X@5&AI2!C875S92!A('-I9VYI9FEC M86YT/&)R("\^9&5C;&EN92!I;B!T:&4@=F%L=64@86YD(&QI<75I9&ET>2!O M9B!M86YY('-E8W5R:71I97,N/&)R("\^(#QB'0^/'1T/E!E7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA2D@?"!(;W1C:&MI2!';&]B86P@5F%L=64@1G5N M9#PO=&0^#0H@("`@("`@(#QT9"!C;&%S2!;5&5X="!" M;&]C:UT\+W1D/@T*("`@("`@("`\=&0@8VQA'0@0FQO8VM= M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^'1";&]C:SPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'1T/E1H:7,@=&%B;&4@9&5S8W)I8F5S('1H92!F965S(&%N9"!E>'!E;G-E M6]U6]U'!E;G-E65A'1";&]C:SPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'1T/E1H92!&=6YD('!A>7,@=')A;G-A8W1I;VX@8V]S=',L M('-U8V@@87,@8V]M;6ES&5S('=H96X@1G5N9"!S:&%R97,@/&)R("\^ M87)E(&AE;&0@:6X@82!T87AA8FQE(&%C8V]U;G0N(%1H97-E(&-O'!E;G-E'!E;G-E($)R96%K<&]I;G0@1&ES M8V]U;G1S(%M497AT73PO=&0^#0H@("`@("`@(#QT9"!C;&%S6]U M2`-"D9U;F1S+CQS<&%N/CPO'!E;G-E0G)E86MP;VEN=$UI;FEM=6U);G9E'0^(D]T:&5R($5X<&5N&%M<&QE(%M(96%D:6YG M73PO=&0^#0H@("`@("`@(#QT9"!C;&%S&%M M<&QE2&5A9&EN9SPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^17AA M;7!L92X\'0@0FQO8VM=/"]T9#X-"B`@("`@("`@ M/'1D(&-L87-S/3-$=&@^&%M<&QE(&%S65A&-E<'0@9F]R('1H92!F964@=V%I M=F5R+V5X<&5N2P@665A'!E;G-E17AA M;7!L94)Y665A2!B92!H:6=H97(@ M;W(@;&]W97(L(&)A&%M<&QE+"!.;R!2961E;7!T:6]N+"!">2!996%R+"!#87!T M:6]N(%M497AT73PO=&0^#0H@("`@("`@(#QT9"!C;&%S&%M<&QE3F]2961E;7!T:6]N0GE996%R0V%P=&EO;CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^66]U('=O=6QD('!A>2!T:&4@9F]L M;&]W:6YG(&5X<&5N'0^ M4')I;F-I<&%L($EN=F5S=&UE;G0@4W1R871E9WDN/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S2!I;B!5+E,N(&%N9"`\8G(@+SYN M;VXM52Y3+B!C;VUP86YI97,L('=H:6-H(&UA>2!I;F-L=61E(&-O;7!A;FEE MF5D(&]R(#QB2!B92!I;G9E2!S96-U2!296-E:7!T2!296-E:7!T2!I;B!C;VUP86YI97,@;&]C871E9"!I;B!D979E;&]P960@8V]U M;G1R:65S+"!B=70\8G(@+SYM87D@:6YV97-T('5P('1O(#(P)2!O9B!I=',@ M87-S971S(&EN(&5M97)G:6YG(&UA2!T:&5S92!I;G9E7,@82!D:7-C:7!L:6YE9"P\8G(@+SYB;W1T;VTM=7`@:6YV97-T;65N M="!P&-E<'1I;VX@;V8@9&EV97)S:69I8V%T:6]N(&=U:61E;&EN97,L('1H M92!&=6YD/&)R("\^9&]E2!C;VYT2!M=71U86P@9G5N9"P@=&AE('9A;'5E(&]F M('1H92!&=6YD)W,@:6YV97-T;65N=',L(&%N9"!T:&5R969O2!G;R!D;W=N(&%N9"!Y;W4@ M8V]U;&0@;&]S92!A;&P@;W(@82!P;W)T:6]N(&]F('EO=7(@/&)R("\^:6YV M97-T;65N="!I;B!T:&4@1G5N9"X@36%N>2!F86-T;W)S(&-A;B!A9F9E8W0@ M=&AO2!T;R!H879E(&$@;6%T97)I86P@969F96-T(&]N('1H92!&=6YD M)W,@<&]R=&9O;&EO(&%S(&$@=VAO;&4@/&)R("\^87)E(&-A;&QE9"`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`@("`@(#QT9"!C;&%S'0^/'1T/E!E4]F4F5T=7)N'0^4&5R9F]R;6%N8V4@:6YF M;W)M871I;VX@9F]R('1H92!&=6YD(&ES(&YO="!I;F-L=61E9"!B96-A=7-E M('1H92!&=6YD(&AA9"!N;W0@#0IC;VUM96YC960@;W!E'0^4&5R9F]R;6%N8V4@:6YF;W)M871I;VX@9F]R('1H92!&=6YD M(&ES(&YO="!I;F-L=61E9"!B96-A=7-E('1H92!&=6YD(&AA9"!N;W0@8V]M M;65N8V5D(&]P97)A=&EO;G,@<')I;W(@=&\@=&AE(&1A=&4@;V8@=&AI65A2!0:&]N92!;5&5X M=%T\+W1D/@T*("`@("`@("`\=&0@8VQA5!H;VYE/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$ M=&5X=#XQ+3@V-BTT.3,M.#8S-SQS<&%N/CPO5=E8E-I=&5!9&1R97-S/"]T9#X-"B`@("`@ M("`@/'1D(&-L87-S/3-$=&5X=#YH='1P.B\O=W=W+FAW8VTN8V]M+VQI=&5R M871U'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E'!E;G-E M'!E;G-E(%)E:6UB=7)S96UE;G0\+W1D/@T*("`@("`@("`\ M=&0@8VQA'!E;G-E'!E;G-E(%)E:6UB=7)S96UE;G0\+W1D/@T*("`@("`@("`\=&0@8VQA M'!E;G-E'0^,C`Q,RTQ,BTS,3QS<&%N/CPO&%M<&QE+"!W:71H(%)E9&5M M<'1I;VXL(#$@665A&%M<&QE665A'!E;G-E($5X86UP;&4L($YO M(%)E9&5M<'1I;VXL(#$@665A&%M<&QE3F]2961E;7!T:6]N665A&%M<&QE3F]2961E;7!T:6]N665A2D@?"!(;W1C:&MI2!';&]B86P@5F%L=64@1G5N9"!\($-L87-S($$\+W1D/@T*("`@("`@("`\ M=&0@8VQA'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S&EM=6T@1&5F97)R M960@4V%L97,@0VAA&EM=6U$969E'!E;G-E17AA M;7!L95EE87(P,3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E($5X86UP M;&4L('=I=&@@4F5D96UP=&EO;BP@,R!996%R&%M<&QE665A&%M<&QE+"!.;R!2961E;7!T:6]N M+"`Q(%EE87(\+W1D/@T*("`@("`@("`\=&0@8VQA'!E M;G-E17AA;7!L94YO4F5D96UP=&EO;EEE87(P,3PO=&0^#0H@("`@("`@(#QT M9"!C;&%S'!E;G-E($5X86UP;&4L($YO(%)E9&5M<'1I;VXL(#,@665A'!E;G-E17AA;7!L M94YO4F5D96UP=&EO;EEE87(P,SPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E'!E;G-E'!E;G-E(%)E:6UB=7)S96UE;G0\+W1D/@T* M("`@("`@("`\=&0@8VQA'!E;G-E'!E;G-E(%)E:6UB=7)S96UE;G0\+W1D/@T*("`@("`@ M("`\=&0@8VQA'!E;G-E'0^,C`Q,RTQ,BTS,3QS<&%N M/CPO&%M<&QE+"!W M:71H(%)E9&5M<'1I;VXL(#$@665A&%M<&QE665A'!E;G-E($5X M86UP;&4L($YO(%)E9&5M<'1I;VXL(#$@665A&%M<&QE3F]2961E;7!T:6]N665A M&%M<&QE3F]2961E;7!T:6]N665A'!E;G-E'!E;G-E'!E;G-E(%)E:6UB=7)S96UE;G0@ M9&\@;F]T(&5X8V5E9"!C97)T86EN(&QI;6ET65A7!E.B!T97AT M+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\>&UL('AM;&YS.F\],T0B M=7)N.G-C:&5M87,M;6EC&UL/@T*+2TM+2TM/5].97AT4&%R=%\P-3DV,C%B8E\Y860X ;7S1E9#!?8F,V,5]D93`U.3,Y9C)A-#$M+0T* ` end XML 11 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Hotchkis & Wiley Global Value Fund (Prospectus Summary) | Hotchkis & Wiley Global Value Fund
Fund Summary
Investment Objective.
The Fund seeks capital appreciation.
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. You may qualify for sales charge discounts for Class A shares
if you and your family invest, or agree to invest in the future, at least $25,000
in certain Hotchkis & Wiley Funds. More information about these and other discounts
is available from your financial professional and in the sections titled "About
Class I, Class A and Class C Shares" beginning on page 8 of this Prospectus and
"Purchase of Shares" in the Fund's Statement of Additional Information.
SHAREHOLDER FEES (fees paid directly from your investment)
Shareholder Fees Hotchkis & Wiley Global Value Fund
Class I
Class A
Class C
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) none 5.25% none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price) none none [1] 1.00%
[1] You may be charged a deferred sales charge of up to 0.75% if you invest $1,000,000 or more in Class A shares and you redeem your shares within one year after purchase.
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Hotchkis & Wiley Global Value Fund
Class I
Class A
Class C
Management Fees 0.80% 0.80% 0.80%
Distribution and/or Service (12b-1) Fees none 0.25% 1.00%
Other Expenses [1] 4.49% 4.49% 4.49%
Total Annual Fund Operating Expenses 5.29% 5.54% 6.29%
Fee Waiver and/or Expense Reimbursement (4.19%) (4.19%) (4.19%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement [2] 1.10% 1.35% 2.10%
[1] "Other Expenses" are based on estimated amounts for the current fiscal year.
[2] Hotchkis & Wiley Capital Management, LLC (the "Advisor") has contractually agreed to waive management fees and/or reimburse expenses through December 31, 2013 to ensure that Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement do not exceed certain limits: Class I - 1.10%, Class A - 1.35%, Class C - 2.10%. Thereafter, the Advisor may change or eliminate the expense limits only upon 30 days' prior notice to the Fund's shareholders.
Example.
This example is intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The example assumes
that you invest $10,000 in the Fund for the time periods indicated and then
redeem all of your shares at the end of those periods. The example also assumes
that your investment has a 5% return each year and that the Fund's operating
expenses remain the same except for the fee waiver/expense reimbursement in
effect for the first year.
Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Expense Example Hotchkis & Wiley Global Value Fund (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Class I
 112 1,208
Class A
 655 1,738
Class C
 313 1,491
You would pay the following expenses if you did not redeem your shares:
Expense Example, No Redemption Hotchkis & Wiley Global Value Fund (USD $)
Expense Example, No Redemption, 1 Year
Expense Example, No Redemption, 3 Years
Class I
 112 1,208
Class A
 655 1,738
Class C
 213 1,491
Portfolio Turnover.
The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes when Fund shares
are held in a taxable account. These costs, which are not reflected in annual fund
operating expenses or in the example, affect the Fund's performance. No portfolio
turnover rate is provided for the Fund because the Fund had not commenced operations
as of the date of this Prospectus.
Principal Investment Strategy.
The Fund seeks to achieve its objective by investing primarily in U.S. and
non-U.S. companies, which may include companies located or operating in
established or emerging markets. Under normal circumstances, the Fund will
invest at least 40% of its net assets (plus the amount of any borrowings for
investment purposes) in the equity securities of companies located outside of
the U.S. The Advisor determines where a company is located, and thus whether a
company is located outside the U.S. or in an emerging market, by referring to:
its primary stock exchange listing; where it is registered, organized or
incorporated; where its headquarters are located; where it derives at least 50%
of its revenues or profits from goods produced or sold, investments made, or
services performed; or where at least 50% of its assets are located. The Fund
will allocate its assets among various regions and countries (but in no less
than three different countries). From time to time, asubstantial portion of the
Fund's assets may be invested in companies located in a single country. The Fund
invests in companies of any size market capitalization.

In addition to purchasing equity securities on exchanges where the companies are
located, the Fund may purchase equity securities on exchanges other than where
their companies are domiciled (often traded as dual listed securities) or in the
form of Depositary Receipts, which include American Depositary Receipts
("ADRs"), Global Depositary Receipts ("GDRs") or similar securities. The Fund
may also invest in other investment companies, including exchange-traded funds
("ETFs"). Investments in ETFs based on foreign market indices are considered
investments outside the U.S. for purposes of the 40% requirement noted above.

The Fund will invest primarily in companies located in developed countries, but
may invest up to 20% of its assets in emerging markets. The Fund seeks to invest
in stocks whose future prospects are misunderstood or not fully recognized by
the market. The Fund employs a fundamental value investing approach which seeks
to exploit market inefficiencies created by irrational investor behavior. To
identify these investment opportunities, the Fund employs a disciplined,
bottom-up investment process highlighted by rigorous, internally-generated
fundamental research. With the exception of diversification guidelines, the Fund
does not employ predetermined rules for sales; rather, the Fund evaluates each
sell candidate based on the candidate's specific risk and return characteristics
which include: 1) relative valuation; 2) fundamental operating trends; 3)
deterioration of fundamentals; and 4) diversification guidelines.
  
The Fund may enter into currency contracts (such as spot, forward and futures)
to hedge foreign currency exposure.
Principal Investment Risks.
As with any mutual fund, the value of the Fund's investments, and therefore the
value of its shares, may go down and you could lose all or a portion of your
investment in the Fund. Many factors can affect those values. The factors that
are most likely to have a material effect on the Fund's portfolio as a whole
are called "principal risks." The principal risks of investing in the Fund,
which could adversely affect its net asset value, yield and total return, are
described in this section.

Market Risk. Market risk is the risk that the market price of securities owned
by the Fund may go down, sometimes rapidly or unpredictably. Securities may
decline in value due to factors affecting securities markets generally or
particular industries represented in the securities markets.

Equity Securities Risk. Equity securities, both common and preferred stocks,
have greater price volatility than fixed income securities. The market price of
equity securities owned by the Fund may go down, sometimes rapidly or
unpredictably. Equity securities may decline in value due to factors affecting
equity securities markets generally or particular industries represented by
those markets.

Capitalization Risk. Large cap companies as a group could fall out of favor with
the market, causing the Fund to underperform investments that focus on small or
mid cap companies. Investments in small and mid cap companies may involve more
risk than investing in larger more established companies. Small and mid cap
companies may have limited product lines or markets. They may be less
financially secure than larger, more established companies. They may depend on a
small number of key personnel. Should a product fail, or if management changes,
or if there are other adverse developments, the Fund's investment in a small or
mid cap company may lose substantial value.

Management Risk. The Fund is subject to management risk because it is an
actively managed investment portfolio. The Advisor invests in securities that
may not necessarily be included in the Fund's benchmark. To the extent that the
Advisor invests the Fund's assets in securities that are not in the Fund's
applicable benchmark index, there is a greater risk that the Fund's performance
will deviate from that of the benchmark. The Advisor does not seek to replicate
the performance of any index.

Style Risk. The Advisor follows an investing style that favors value
investments. Historically, value investments have performed best during periods
of economic recovery. Therefore, the value investing style may over time go in
and out of favor. At times when the value investing style is out of favor, the
Fund may underperform other funds that use different investing styles. Investors
should be prepared to tolerate volatility in Fund returns.

Security Selection Risk. The Advisor may misjudge the risk and/or return
potential of a security. This misjudgment can result in a loss or a significant
deviation relative to its benchmark.

Issuer Risk. The value of a security may decline for a number of reasons which
directly relate to the issuer, such as management performance, financial
leverage and reduced demand for the issuer's goods or services.

Foreign (non-U.S.) Investment Risk. The Fund may invest in foreign (non-U.S.)
securities and may experience more rapid and extreme changes in value than a
fund that invests exclusively in securities of U.S. companies. The securities
markets of many foreign countries are relatively small, with a limited number of
companies representing a small number of industries. Additionally, issuers of
foreign securities are usually not subject to the same degree of regulation as
U.S. issuers and may suffer from increased foreign government action, including
nationalization, expropriation or confiscatory taxation, currency blockage, or
political changes or diplomatic developments. To the extent that the Fund
invests a significant portion of its assets in a specific geographic region, the
Fund will generally have more exposure to regional economic risks associated
with foreign investments.

Emerging Market Risk. Foreign (non-U.S.) investment risk may be particularly
high to the extent that the Fund invests in emerging market securities. These
securities may present market, credit, currency, liquidity, legal, political and
other risks different from, or greater than, the risks of investing in developed
foreign countries.

Currency Risk. If the Fund invests directly in foreign (non-U.S.) currencies or
in securities that trade in, and receive revenues in, foreign (non-U.S.)
currencies, or in derivatives that provide exposure to foreign (non-U.S.)
currencies, it will be subject to the risk that those currencies will decline in
value relative to the U.S. dollar, or, in the case of hedging positions, that
the U.S. dollar will decline in value relative to the currency being hedged. As
a result, the Fund's investments in foreign currency-denominated securities may
reduce the Fund's returns.

ADR and GDR Risk. ADRs are certificates that evidence ownership of shares of a
foreign issuer and are alternatives to purchasing directly the underlying
foreign securities in their national markets and currencies. GDRs are
certificates issued by an international bank that generally are traded and
denominated in the currencies of countries other than the home country of the
issuer of the underlying shares. ADRs and GDRs may be subject to certain of the
risks associated with direct investments in the securities of foreign companies,
such as currency, political, economic and market risks, because their values
depend on the performance of the non-dollar denominated underlying foreign
securities.

Certain countries may limit the ability to convert ADRs into the underlying
foreign securities and vice versa, which may cause the securities of the foreign
company to trade at a discount or premium to the market price of the related
ADR. ADRs may be purchased through sponsored or unsponsored facilities. A
sponsored facility is established jointly by a depositary and the issuer of the
underlying security. A depositary may establish an unsponsored facility without
participation by the issuer of the deposited security. Unsponsored receipts may
involve higher expenses and may be less liquid. Holders of unsponsored ADRs
generally bear all the costs of such facilities, and the depositary of an
unsponsored facility frequently is under no obligation to distribute shareholder
communications received from the issuer of the deposited security or to pass
through voting rights to the holders of such receipts in respect of the
deposited securities.

GDRs can involve currency risk since, unlike ADRs, they may not be U.S. dollar
denominated. The Fund's net asset value could decline if the currency of the
non-U.S. market in which the Fund invests depreciates against the U.S. dollar,
even if the value of the Fund's holdings, measured in the foreign currencies,
increases.
  
ETF Risk. ETFs may trade at a discount to the aggregate value of the underlying
securities and although expense ratios for ETFs are generally low, frequent
trading of ETFs by the Fund can generate brokerage expenses. Shareholders of the
Fund will indirectly be subject to the fees and expenses of the individual ETFs
in which the Fund invests.

Recent Developments in Global Credit and Equity Markets Risks. Global capital
markets have recently experienced credit and valuation problems and the mass
liquidation of investment portfolios. These conditions have generated extreme
volatility and illiquidity. This financial crisis may cause a significant
decline in the value and liquidity of many securities.

Current market conditions may continue or worsen. Because of the expansive scope
of these conditions, past investment strategies and models may not be able to
identify all significant risks that the Fund may encounter, or to predict the
duration of these events.
Performance
Performance information for the Fund is not included because the Fund had not
commenced operations prior to the date of this Prospectus. Performance
information will be available once the Fund has at least one calendar year of
performance. Updated performance is available on the Fund's website at
http://www.hwcm.com/literature (click on "Latest Performance") or by calling the
Fund toll-free at 1-866-HW-FUNDS (1-866-493-8637).
XML 12 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

"+ text.join( "

\n" ) +"

"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "

" + text[p] + "

\n"; } } }else{ formatted = '

' + raw + '

'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'
'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } } XML 13 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Dec. 31, 2012
Hotchkis & Wiley Global Value Fund (Prospectus Summary) | Hotchkis & Wiley Global Value Fund
  
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Fund Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective.
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund.
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold
shares of the Fund. You may qualify for sales charge discounts for Class A shares
if you and your family invest, or agree to invest in the future, at least $25,000
in certain Hotchkis & Wiley Funds. More information about these and other discounts
is available from your financial professional and in the sections titled "About
Class I, Class A and Class C Shares" beginning on page 8 of this Prospectus and
"Purchase of Shares" in the Fund's Statement of Additional Information.
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 pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes when Fund shares
are held in a taxable account. These costs, which are not reflected in annual fund
operating expenses or in the example, affect the Fund's performance. No portfolio
turnover rate is provided for the Fund because the Fund had not commenced operations
as of the date of this Prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts for Class A shares if you and your family invest, or agree to invest in the future, at least $25,000 in certain Hotchkis & Wiley Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount 25,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates "Other Expenses" are based on estimated amounts for the current fiscal year.
Expense Example [Heading] rr_ExpenseExampleHeading Example.
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This example is intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The example assumes
that you invest $10,000 in the Fund for the time periods indicated and then
redeem all of your shares at the end of those periods. The example also assumes
that your investment has a 5% return each year and that the Fund's operating
expenses remain the same except for the fee waiver/expense reimbursement in
effect for the first year.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption You would pay the following expenses if you did not redeem your shares:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategy.
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund seeks to achieve its objective by investing primarily in U.S. and
non-U.S. companies, which may include companies located or operating in
established or emerging markets. Under normal circumstances, the Fund will
invest at least 40% of its net assets (plus the amount of any borrowings for
investment purposes) in the equity securities of companies located outside of
the U.S. The Advisor determines where a company is located, and thus whether a
company is located outside the U.S. or in an emerging market, by referring to:
its primary stock exchange listing; where it is registered, organized or
incorporated; where its headquarters are located; where it derives at least 50%
of its revenues or profits from goods produced or sold, investments made, or
services performed; or where at least 50% of its assets are located. The Fund
will allocate its assets among various regions and countries (but in no less
than three different countries). From time to time, asubstantial portion of the
Fund's assets may be invested in companies located in a single country. The Fund
invests in companies of any size market capitalization.

In addition to purchasing equity securities on exchanges where the companies are
located, the Fund may purchase equity securities on exchanges other than where
their companies are domiciled (often traded as dual listed securities) or in the
form of Depositary Receipts, which include American Depositary Receipts
("ADRs"), Global Depositary Receipts ("GDRs") or similar securities. The Fund
may also invest in other investment companies, including exchange-traded funds
("ETFs"). Investments in ETFs based on foreign market indices are considered
investments outside the U.S. for purposes of the 40% requirement noted above.

The Fund will invest primarily in companies located in developed countries, but
may invest up to 20% of its assets in emerging markets. The Fund seeks to invest
in stocks whose future prospects are misunderstood or not fully recognized by
the market. The Fund employs a fundamental value investing approach which seeks
to exploit market inefficiencies created by irrational investor behavior. To
identify these investment opportunities, the Fund employs a disciplined,
bottom-up investment process highlighted by rigorous, internally-generated
fundamental research. With the exception of diversification guidelines, the Fund
does not employ predetermined rules for sales; rather, the Fund evaluates each
sell candidate based on the candidate's specific risk and return characteristics
which include: 1) relative valuation; 2) fundamental operating trends; 3)
deterioration of fundamentals; and 4) diversification guidelines.
  
The Fund may enter into currency contracts (such as spot, forward and futures)
to hedge foreign currency exposure.
Risk [Heading] rr_RiskHeading Principal Investment Risks.
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock As with any mutual fund, the value of the Fund's investments, and therefore the
value of its shares, may go down and you could lose all or a portion of your
investment in the Fund. Many factors can affect those values. The factors that
are most likely to have a material effect on the Fund's portfolio as a whole
are called "principal risks." The principal risks of investing in the Fund,
which could adversely affect its net asset value, yield and total return, are
described in this section.

Market Risk. Market risk is the risk that the market price of securities owned
by the Fund may go down, sometimes rapidly or unpredictably. Securities may
decline in value due to factors affecting securities markets generally or
particular industries represented in the securities markets.

Equity Securities Risk. Equity securities, both common and preferred stocks,
have greater price volatility than fixed income securities. The market price of
equity securities owned by the Fund may go down, sometimes rapidly or
unpredictably. Equity securities may decline in value due to factors affecting
equity securities markets generally or particular industries represented by
those markets.

Capitalization Risk. Large cap companies as a group could fall out of favor with
the market, causing the Fund to underperform investments that focus on small or
mid cap companies. Investments in small and mid cap companies may involve more
risk than investing in larger more established companies. Small and mid cap
companies may have limited product lines or markets. They may be less
financially secure than larger, more established companies. They may depend on a
small number of key personnel. Should a product fail, or if management changes,
or if there are other adverse developments, the Fund's investment in a small or
mid cap company may lose substantial value.

Management Risk. The Fund is subject to management risk because it is an
actively managed investment portfolio. The Advisor invests in securities that
may not necessarily be included in the Fund's benchmark. To the extent that the
Advisor invests the Fund's assets in securities that are not in the Fund's
applicable benchmark index, there is a greater risk that the Fund's performance
will deviate from that of the benchmark. The Advisor does not seek to replicate
the performance of any index.

Style Risk. The Advisor follows an investing style that favors value
investments. Historically, value investments have performed best during periods
of economic recovery. Therefore, the value investing style may over time go in
and out of favor. At times when the value investing style is out of favor, the
Fund may underperform other funds that use different investing styles. Investors
should be prepared to tolerate volatility in Fund returns.

Security Selection Risk. The Advisor may misjudge the risk and/or return
potential of a security. This misjudgment can result in a loss or a significant
deviation relative to its benchmark.

Issuer Risk. The value of a security may decline for a number of reasons which
directly relate to the issuer, such as management performance, financial
leverage and reduced demand for the issuer's goods or services.

Foreign (non-U.S.) Investment Risk. The Fund may invest in foreign (non-U.S.)
securities and may experience more rapid and extreme changes in value than a
fund that invests exclusively in securities of U.S. companies. The securities
markets of many foreign countries are relatively small, with a limited number of
companies representing a small number of industries. Additionally, issuers of
foreign securities are usually not subject to the same degree of regulation as
U.S. issuers and may suffer from increased foreign government action, including
nationalization, expropriation or confiscatory taxation, currency blockage, or
political changes or diplomatic developments. To the extent that the Fund
invests a significant portion of its assets in a specific geographic region, the
Fund will generally have more exposure to regional economic risks associated
with foreign investments.

Emerging Market Risk. Foreign (non-U.S.) investment risk may be particularly
high to the extent that the Fund invests in emerging market securities. These
securities may present market, credit, currency, liquidity, legal, political and
other risks different from, or greater than, the risks of investing in developed
foreign countries.

Currency Risk. If the Fund invests directly in foreign (non-U.S.) currencies or
in securities that trade in, and receive revenues in, foreign (non-U.S.)
currencies, or in derivatives that provide exposure to foreign (non-U.S.)
currencies, it will be subject to the risk that those currencies will decline in
value relative to the U.S. dollar, or, in the case of hedging positions, that
the U.S. dollar will decline in value relative to the currency being hedged. As
a result, the Fund's investments in foreign currency-denominated securities may
reduce the Fund's returns.

ADR and GDR Risk. ADRs are certificates that evidence ownership of shares of a
foreign issuer and are alternatives to purchasing directly the underlying
foreign securities in their national markets and currencies. GDRs are
certificates issued by an international bank that generally are traded and
denominated in the currencies of countries other than the home country of the
issuer of the underlying shares. ADRs and GDRs may be subject to certain of the
risks associated with direct investments in the securities of foreign companies,
such as currency, political, economic and market risks, because their values
depend on the performance of the non-dollar denominated underlying foreign
securities.

Certain countries may limit the ability to convert ADRs into the underlying
foreign securities and vice versa, which may cause the securities of the foreign
company to trade at a discount or premium to the market price of the related
ADR. ADRs may be purchased through sponsored or unsponsored facilities. A
sponsored facility is established jointly by a depositary and the issuer of the
underlying security. A depositary may establish an unsponsored facility without
participation by the issuer of the deposited security. Unsponsored receipts may
involve higher expenses and may be less liquid. Holders of unsponsored ADRs
generally bear all the costs of such facilities, and the depositary of an
unsponsored facility frequently is under no obligation to distribute shareholder
communications received from the issuer of the deposited security or to pass
through voting rights to the holders of such receipts in respect of the
deposited securities.

GDRs can involve currency risk since, unlike ADRs, they may not be U.S. dollar
denominated. The Fund's net asset value could decline if the currency of the
non-U.S. market in which the Fund invests depreciates against the U.S. dollar,
even if the value of the Fund's holdings, measured in the foreign currencies,
increases.
  
ETF Risk. ETFs may trade at a discount to the aggregate value of the underlying
securities and although expense ratios for ETFs are generally low, frequent
trading of ETFs by the Fund can generate brokerage expenses. Shareholders of the
Fund will indirectly be subject to the fees and expenses of the individual ETFs
in which the Fund invests.

Recent Developments in Global Credit and Equity Markets Risks. Global capital
markets have recently experienced credit and valuation problems and the mass
liquidation of investment portfolios. These conditions have generated extreme
volatility and illiquidity. This financial crisis may cause a significant
decline in the value and liquidity of many securities.

Current market conditions may continue or worsen. Because of the expansive scope
of these conditions, past investment strategies and models may not be able to
identify all significant risks that the Fund may encounter, or to predict the
duration of these events.
Risk Lose Money [Text] rr_RiskLoseMoney As with any mutual fund, the value of the Fund's investments, and therefore the value of its shares, may go down and you could lose all or a portion of your investment in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock Performance information for the Fund is not included because the Fund had not
commenced operations prior to the date of this Prospectus. Performance
information will be available once the Fund has at least one calendar year of
performance. Updated performance is available on the Fund's website at
http://www.hwcm.com/literature (click on "Latest Performance") or by calling the
Fund toll-free at 1-866-HW-FUNDS (1-866-493-8637).
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns Performance information for the Fund is not included because the Fund had not commenced operations prior to the date of this Prospectus.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Performance information for the Fund is not included because the Fund had not commenced operations prior to the date of this Prospectus. Performance information will be available once the Fund has at least one calendar year of performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-866-493-8637
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress http://www.hwcm.com/literature
Hotchkis & Wiley Global Value Fund (Prospectus Summary) | Hotchkis & Wiley Global Value Fund | Class I
  
Risk Return [Abstract] rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 4.49% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 5.29%
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (4.19%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 1.10% [2]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-12-31
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 112
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,208
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 112
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 1,208
Hotchkis & Wiley Global Value Fund (Prospectus Summary) | Hotchkis & Wiley Global Value Fund | Class A
  
Risk Return [Abstract] rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.25%
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price) rr_MaximumDeferredSalesChargeOverOfferingPrice none [3]
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 4.49% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 5.54%
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (4.19%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 1.35% [2]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-12-31
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 655
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,738
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 655
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 1,738
Hotchkis & Wiley Global Value Fund (Prospectus Summary) | Hotchkis & Wiley Global Value Fund | Class C
  
Risk Return [Abstract] rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price) rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00%
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 4.49% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 6.29%
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (4.19%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 2.10% [2]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-12-31
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 313
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,491
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 213
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 1,491
[1] "Other Expenses" are based on estimated amounts for the current fiscal year.
[2] Hotchkis & Wiley Capital Management, LLC (the "Advisor") has contractually agreed to waive management fees and/or reimburse expenses through December 31, 2013 to ensure that Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement do not exceed certain limits: Class I - 1.10%, Class A - 1.35%, Class C - 2.10%. Thereafter, the Advisor may change or eliminate the expense limits only upon 30 days' prior notice to the Fund's shareholders.
[3] You may be charged a deferred sales charge of up to 0.75% if you invest $1,000,000 or more in Class A shares and you redeem your shares within one year after purchase.
XML 14 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Dec. 28, 2012
Registrant Name dei_EntityRegistrantName HOTCHKIS & WILEY FUNDS /DE/
Central Index Key dei_EntityCentralIndexKey 0001145022
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Dec. 28, 2012
Document Effective Date dei_DocumentEffectiveDate Dec. 31, 2012
Hotchkis & Wiley Global Value Fund (Prospectus Summary) | Hotchkis & Wiley Global Value Fund | Class I
  
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol HWGIX
XML 15 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.6 Html 5 53 1 true 5 0 false 2 false false R1.htm 0011 - Document - Document And Entity Information {Elements} Sheet http://www.hwcm.com/role/DocumentDocumentandEntityInformation Document And Entity Information false true R2.htm 0112 - Document - Risk/Return Summary {Unlabeled} (Hotchkis & Wiley Global Value Fund) Sheet http://www.hwcm.com/role/RiskReturn_S000039502Member Risk/Return Summary (Hotchkis & Wiley Global Value Fund) false false R7.htm 040000 - Disclosure - Risk/Return Detail Data {Elements} Sheet http://xbrl.sec.gov/rr/role/RiskReturnDetailData Risk/Return Detail Data true false All Reports Book All Reports ck0001145022-20121228.xml ck0001145022-20121228.xsd ck0001145022-20121228_cal.xml ck0001145022-20121228_def.xml ck0001145022-20121228_lab.xml ck0001145022-20121228_pre.xml true true