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Label Element Value
Prospectus [Line Items] rr_ProspectusLineItems  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Dec. 31, 2019
Entity Registrant Name dei_EntityRegistrantName Investment Managers Series Trust
Entity Central Index Key dei_EntityCentralIndexKey 0001318342
Amendment Flag dei_AmendmentFlag false
Entity Inv Company Type dei_EntityInvCompanyType N-1A
Document Creation Date dei_DocumentCreationDate Apr. 29, 2020
Document Effective Date dei_DocumentEffectiveDate May 01, 2020
Prospectus Date rr_ProspectusDate May 01, 2020
AAM/Phocas Real Estate Fund  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk/Return [Heading] rr_RiskReturnHeading SUMMARY SECTION - AAM/PHOCAS REAL ESTATE FUND
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The investment objective of the AAM/Phocas Real Estate Fund (the “Fund”) is to seek long-term total investment return through a combination of capital appreciation and current income.
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 if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of the Fund. More information about these and other discounts is available from your financial professional and in the sections titled “YOUR ACCOUNT WITH THE FUND - Class A Shares” of this Prospectus and in “APPENDIX A – Waivers and Discounts Available from Intermediaries” of the Prospectus.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination April 30, 2030
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 may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the portfolio turnover rate of the Fund was 17% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 17.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees The total annual fund operating expenses and net operating expenses do not correlate to the ratio of expenses to average net assets appearing in the financial highlights table, which reflects only the operating expenses of the Fund and does not include acquired fund fees and expenses.
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. The example reflects the Fund’s contractual fee waiver and/or expense reimbursement only for the term of the contractual fee waiver and/or expense reimbursement.

 

Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example, No Redemption Narrative [Text Block] rr_ExpenseExampleNoRedemptionNarrativeTextBlock

You would pay the following expenses on Class C Shares if you did not redeem your shares:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

Under normal market conditions, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in securities of equity real estate investment trusts (“REITs”) and companies of any size market capitalization which primarily own, manage and invest in underlying real estate assets. Therefore, the Fund invests at least 25% of its net assets (i.e., concentrates) in the real estate industry. The Fund seeks to maintain a portfolio with continuous exposure to most of the following real estate sectors: offices, industrial properties, retail, malls, shopping centers, apartments, lodging, storage and specialty and health care facilities. The Fund may invest in securities of non-U.S. issuers that trade on U.S. or foreign exchanges, including foreign securities from emerging markets. The Fund invests primarily in common and preferred stock.

 

In selecting securities for the Fund’s portfolio, the Fund’s sub-advisor, Phocas Financial Corporation (the “Sub-Advisor”), uses a disciplined process that focuses on the following factors: asset valuation, management quality, prospective growth rates, quality and location of the real estate held, debt leverage and overall balance sheet quality, quality of income streams, conflicts of interest, insider stock ownership, and other factors.

 

The Sub-Advisor will consider selling a security given one or more of the following circumstances: loss of management focus, management’s inability to increase shareholder value, balance sheet deterioration, exorbitant pricing relative to underlying value, or the Fund requires cash to meet redemption requests.

 

The Fund is “non-diversified” under the 1940 Act, which means that it may invest more of its assets in fewer issuers than “diversified” mutual funds.
Risk [Heading] rr_RiskHeading Principal Risks of Investing
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Risk is inherent in all investing and you could lose money by investing in the Fund. A summary description of certain principal risks of investing in the Fund is set forth below. Before you decide whether to invest in the Fund, carefully consider these risk factors associated with investing in the Fund, which may cause investors to lose money. There can be no assurance that the Fund will achieve its investment objectives.

 

Real Estate Industry Risk. Because the Fund concentrates its net assets in the real estate industry (by investing in REITs and other companies that invest in real estate assets), it is particularly vulnerable to the risks of the real estate industry. Declines in real estate values, changes in interest rates, economic downturns, overbuilding and changes in zoning laws and government regulations can have a significant negative effect on companies in the real estate industry. The Fund’s investments in non-U.S. REITs are subject to the risks associated with foreign investments and emerging markets generally including different legal and accounting standards than U.S. companies, less regulations, less liquid securities markets, and volatility in the prices of securities due to economic and social conditions abroad, political developments, and changes in the regulatory environments of foreign countries.

 

Real Estate Investment Trust (REIT) Risk. In addition to the risks associated with securities of companies participating in the real estate industry, such as declines in the value of real estate, risks related to general and local economic conditions, decreases in property revenues, and increases in prevailing interest rates, property taxes and operating expenses, REITs are subject to certain other risks related to their structure and focus. REITs are dependent upon management skills and generally may not be diversified. REITs are also subject to heavy cash flow dependency, defaults by borrowers and self-liquidation. A REIT could possibly fail to qualify for favorable U.S. federal income tax treatment and so become subject to additional income tax liability that could cause to liquidate investments, borrow funds under adverse conditions or fail, or to maintain its exemption from registration under the Investment Company Act of 1940 (“1940 Act”). Various factors including the above may also adversely affect a borrower’s or a lessee’s ability to meet its obligations to the REIT. In addition, the REIT may experience delays in enforcing its rights as a lessor and may incur substantial costs associated with protecting its investments. By investing in REITs indirectly through the Fund, in addition to bearing a proportionate share of the expenses of the Fund, shareholders of the Fund will also indirectly bear similar expenses of the REITs in which the Fund invests.

 

Market Risk. The market price of a security or instrument may decline, sometimes rapidly or unpredictably, due to general market conditions that are not specifically related to a particular company, such as real or perceived adverse economic or political conditions throughout the world, changes in the general outlook for corporate earnings, changes in interest or currency rates or adverse investor sentiment generally. In addition, local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, or other events could have a significant impact on a security or instrument. The market value of a security or instrument also may decline because of factors that affect a particular industry or industries, such as labor shortages or increased production costs and competitive conditions within an industry.

 

Market Turbulence Resulting from COVID-19. An outbreak of an infectious respiratory illness caused by a novel coronavirus known as COVID-19 has negatively affected the worldwide economy, as well as the economies of individual countries, the financial health of individual companies and the market in general in significant and unforeseen ways. The future impact of COVID-19 is currently unknown, and it may exacerbate other risks that apply to the Fund. Any such impact could adversely affect the Fund’s performance, the performance of the securities in which the Fund invests and may lead to losses on your investment in the Fund.

 

Non-Diversification Risk. The Fund is classified as “non-diversified,” which means the Fund may invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. Investment in securities of a limited number of issuers exposes the Fund to greater market risk and potential losses than if its assets were diversified among the securities of a greater number of issuers.

 

Equity Securities Risk. The value of the equity securities held by the Fund may fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, or factors relating to specific companies in which the Fund invests.

 

Management and Strategy Risk. The value of your investment depends on the judgment of the Sub-Advisor about the quality, relative yield, value or market trends affecting a particular security, industry, sector or region, which may prove to be incorrect.

 

Market Capitalization Risk. Larger, more established companies may be unable to attain the high growth rates of successful, smaller companies during periods of economic expansion. The securities of small, mid- and micro-capitalization companies may be subject to more abrupt or erratic market movements and may have lower trading volumes or more erratic trading than securities of larger, more established companies or market averages in general. In addition, such companies typically are more likely to be adversely affected than large capitalization companies by changes in earning results, business prospects, investor expectations or poor economic or market conditions.

 

Preferred Stock Risk. Preferred stock represents an equity interest in a company that generally entitles the holder to receive, in preference to the holders of other stocks such as common stock, dividends and a fixed share of the proceeds resulting from a liquidation of the company. The market value of preferred stock is subject to company-specific and market risks applicable generally to equity securities and is also sensitive to changes in the company’s creditworthiness, the ability of the company to make payments on the preferred stock, and changes in interest rates, typically declining in value if interest rates rise.

 

Cybersecurity Risk. Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, customer data (including private shareholder information), or proprietary information, or cause the Fund, the Advisor, and/or other service providers (including custodians, sub-custodians, transfer agents and financial intermediaries) to suffer data breaches, data corruption or loss of operational functionality. In an extreme case, a shareholder’s ability to exchange or redeem Fund shares may be affected. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of those securities could decline if the issuers experience cybersecurity incidents.

 

Foreign Investment Risk. The prices of foreign securities may be more volatile than the prices of securities of U.S. issuers because of economic and social conditions abroad, political developments, and changes in the regulatory environments of foreign countries. In addition, changes in exchange rates and interest rates may adversely affect the values of the Fund’s foreign investments. Foreign companies are generally subject to different legal and accounting standards than U.S. companies, and foreign financial intermediaries may be subject to less supervision and regulation than U.S. financial firms.

 

Emerging Markets Risk. Many of the risks with respect to foreign investments are more pronounced for investments in issuers in developing or emerging market countries. Emerging market countries tend to have more government exchange controls, more volatile interest and currency exchange rates, less market regulation, and less developed economic, political and legal systems than those of more developed countries. In addition, emerging market countries may experience high levels of inflation and may have less liquid securities markets and less efficient trading and settlement systems.
Risk Lose Money [Text] rr_RiskLoseMoney Risk is inherent in all investing and you could lose money by investing in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus The Fund is classified as “non-diversified,” which means the Fund may invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year for Class I Shares and by showing how the average annual total returns of Class I Shares and Class A Shares of the Fund compare with the average annual total returns of a broad-based market index. As of the date of this Prospectus, Class C Shares of the Fund are not offered and therefore have no performance information to report. Class C Shares of the Fund would have substantially similar performance as Class I Shares because the shares are invested in the same portfolio of securities and the annual returns would generally differ only to the extent that the expenses of Class C Shares are higher. Updated performance information is available at the Fund’s website, www.aamlive.com/publicsite/mutual-funds or by calling the Fund at 1-888-966-9661.

 

The Fund commenced operations and acquired the assets and liabilities of the Phocas Real Estate Fund (the “Predecessor Fund”), a series of Forum Funds II, on August 24, 2018. As a result of the acquisition, the Fund is the accounting successor of the Predecessor Fund. Performance results shown in the bar chart and the performance table below prior to August 24, 2018, reflect the performance of the Predecessor Fund. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year for Class I Shares and by showing how the average annual total returns of Class I Shares and Class A Shares of the Fund compare with the average annual total returns of a broad-based market index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-888-966-9661
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.aamlive.com/publicsite/mutual-funds
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Calendar-Year Total Return (before taxes) for Class I Shares For each calendar year at NAV
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

The year-to-date return as of March 31, 2020 was -22.65%.

 

Class I Shares    
Highest Calendar Quarter Return at NAV 17.84% Quarter Ended 03/31/2019
Lowest Calendar Quarter Return at NAV -17.00% Quarter Ended 09/30/2011

 
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns (for periods ended December 31, 2019)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After–tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown for Class I Shares only and after-tax returns for classes other than Class I will vary from returns shown for Class I.
Bar Chart [Table] rr_BarChartTableTextBlock
~ http://xbrl.sec.gov/rr/role/BarChartData column period compact * column dei_LegalEntityAxis compact imst_S000062618Member column rr_ProspectusShareClassAxis compact * row primary compact * ~
AAM/Phocas Real Estate Fund | Class A Shares  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol APRAX
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.50%
Maximum deferred sales charge (load) (as a percentage of the lesser of the value redeemed or the amount invested) rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00% [1]
Redemption fee if redeemed within 90 days of purchase (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption (2.00%)
Wire fee imst_WireFee $ 20
Overnight check delivery fee imst_OvernightCheckDeliveryFee 25
Retirement account fees (annual maintenance fee) rr_ShareholderFeeOther $ 15
Management fees rr_ManagementFeesOverAssets 0.65%
Distribution and service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Shareholder service fees rr_Component1OtherExpensesOverAssets 0.11%
All other expenses rr_Component2OtherExpensesOverAssets 1.42%
Other expenses rr_OtherExpensesOverAssets 1.53%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 2.44% [2]
Fees waived and/or expenses reimbursed rr_FeeWaiverOrReimbursementOverAssets (1.28%)
Total annual fund operating expenses after waiving fees and/or reimbursing expenses rr_NetExpensesOverAssets 1.16% [2],[3]
One Year rr_ExpenseExampleYear01 $ 662
Three Years rr_ExpenseExampleYear03 898
Five Years rr_ExpenseExampleYear05 1,153
Ten Years rr_ExpenseExampleYear10 $ 1,881
1 Year rr_AverageAnnualReturnYear01 22.93% [4]
5 Years rr_AverageAnnualReturnYear05 5.78% [4]
10 Years rr_AverageAnnualReturnYear10 11.11% [4]
AAM/Phocas Real Estate Fund | Class C Shares  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol APRCX
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 the lesser of the value redeemed or the amount invested) rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00% [1]
Redemption fee if redeemed within 90 days of purchase (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption (2.00%)
Wire fee imst_WireFee $ 20
Overnight check delivery fee imst_OvernightCheckDeliveryFee 25
Retirement account fees (annual maintenance fee) rr_ShareholderFeeOther $ 15
Management fees rr_ManagementFeesOverAssets 0.65%
Distribution and service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Shareholder service fees rr_Component1OtherExpensesOverAssets 0.11%
All other expenses rr_Component2OtherExpensesOverAssets 1.42%
Other expenses rr_OtherExpensesOverAssets 1.53%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 3.19% [2]
Fees waived and/or expenses reimbursed rr_FeeWaiverOrReimbursementOverAssets (1.28%)
Total annual fund operating expenses after waiving fees and/or reimbursing expenses rr_NetExpensesOverAssets 1.91% [2],[3]
One Year rr_ExpenseExampleYear01 $ 297
Three Years rr_ExpenseExampleYear03 600
Five Years rr_ExpenseExampleYear05 1,032
Ten Years rr_ExpenseExampleYear10 2,233
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 194
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 600
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,032
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,233
AAM/Phocas Real Estate Fund | Class I Shares  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol APRIX
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 the lesser of the value redeemed or the amount invested) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Redemption fee if redeemed within 90 days of purchase (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption (2.00%)
Wire fee imst_WireFee $ 20
Overnight check delivery fee imst_OvernightCheckDeliveryFee 25
Retirement account fees (annual maintenance fee) rr_ShareholderFeeOther $ 15
Management fees rr_ManagementFeesOverAssets 0.65%
Distribution and service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder service fees rr_Component1OtherExpensesOverAssets 0.11%
All other expenses rr_Component2OtherExpensesOverAssets 1.42%
Other expenses rr_OtherExpensesOverAssets 1.53%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 2.19% [2]
Fees waived and/or expenses reimbursed rr_FeeWaiverOrReimbursementOverAssets (1.28%)
Total annual fund operating expenses after waiving fees and/or reimbursing expenses rr_NetExpensesOverAssets 0.91% [2],[3]
One Year rr_ExpenseExampleYear01 $ 93
Three Years rr_ExpenseExampleYear03 290
Five Years rr_ExpenseExampleYear05 504
Ten Years rr_ExpenseExampleYear10 $ 1,120
Annual Return 2010 rr_AnnualReturn2010 22.50%
Annual Return 2011 rr_AnnualReturn2011 7.89%
Annual Return 2012 rr_AnnualReturn2012 16.70%
Annual Return 2013 rr_AnnualReturn2013 6.64%
Annual Return 2014 rr_AnnualReturn2014 31.65%
Annual Return 2015 rr_AnnualReturn2015 1.28%
Annual Return 2016 rr_AnnualReturn2016 7.64%
Annual Return 2017 rr_AnnualReturn2017 7.35%
Annual Return 2018 rr_AnnualReturn2018 (7.85%)
Annual Return 2019 rr_AnnualReturn2019 30.45%
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2020
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn (22.65%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Highest Calendar Quarter Return at NAV
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2019
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.84%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Lowest Calendar Quarter Return at NAV
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (17.00%)
1 Year rr_AverageAnnualReturnYear01 30.45%
5 Years rr_AverageAnnualReturnYear05 7.07%
10 Years rr_AverageAnnualReturnYear10 11.78%
AAM/Phocas Real Estate Fund | After Taxes on Distributions | Class I Shares  
Prospectus [Line Items] rr_ProspectusLineItems  
1 Year rr_AverageAnnualReturnYear01 28.98% [5]
5 Years rr_AverageAnnualReturnYear05 5.70% [5]
10 Years rr_AverageAnnualReturnYear10 10.95% [5]
AAM/Phocas Real Estate Fund | After Taxes on Distributions and Sales | Class I Shares  
Prospectus [Line Items] rr_ProspectusLineItems  
1 Year rr_AverageAnnualReturnYear01 18.90% [5]
5 Years rr_AverageAnnualReturnYear05 5.21% [5]
10 Years rr_AverageAnnualReturnYear10 9.58% [5]
AAM/Phocas Real Estate Fund | FTSE NAREIT All Equity REITs Index (reflects no deduction for fees, expenses or taxes)  
Prospectus [Line Items] rr_ProspectusLineItems  
1 Year rr_AverageAnnualReturnYear01 28.76% [6]
5 Years rr_AverageAnnualReturnYear05 8.43% [6]
10 Years rr_AverageAnnualReturnYear10 12.59% [6]
[1] For Class A Shares, no sales charge applies on investments of $1 million or more, but a contingent deferred sales charge ("CDSC") of 1.00% will be imposed to the extent a finder's fee was paid on certain redemptions of such shares within 18 months of the date of purchase. Class C Shares of the Fund are subject to a CDSC of 1.00% on any shares sold within 12 months of the date of purchase.
[2] The total annual fund operating expenses and net operating expenses do not correlate to the ratio of expenses to average net assets appearing in the financial highlights table, which reflects only the operating expenses of the Fund and does not include acquired fund fees and expenses.
[3] The Fund's advisor has contractually agreed to waive its fees and/or pay for operating expenses of the Fund to ensure that total annual fund operating expenses (excluding, as applicable, any taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, and extraordinary expenses such as litigation expenses) do not exceed 1.15%, 1.90%, and 0.90% of the average daily net assets of the Class A, Class C and Class I Shares of the Fund, respectively. This agreement is in effect until April 30, 2030, and it may be terminated before that date only by the Trust's Board of Trustees. The Fund's advisor is permitted to seek reimbursement from the Fund, subject to certain limitations, of fees waived or payments made to the Fund for a period ending three full years after the date of the waiver or payment. This reimbursement may be requested from the Fund if the reimbursement will not cause the Fund's annual expense ratio to exceed the lesser of (a) the expense limitation in effect at the time such fees were waived or payments made, or (b) the expense limitation in effect at the time of the reimbursement.
[4] Class A Shares were first offered on August 27, 2018. The performance figures for Class A Shares include the performance for Class I Shares for the period prior to August 27, 2018, adjusted for Class A Shares' expenses, which are higher than the expenses of Class I Shares.
[5] After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class I Shares only and after-tax returns for classes other than Class I will vary from returns shown for Class I.
[6] FTSE NAREIT All Equity REITs Index is a free-float adjusted, market capitalization-weighted index of U.S. Equity REITs. Constituents of the Index include all tax-qualified REITs with more than 50 percent of total assets in qualifying real estate assets other than mortgages secured by real property.