REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
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[X]
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Pre-Effective Amendment No.
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[ ]
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Post-Effective Amendment No. 93
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[X]
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and/or
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REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
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[X]
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Amendment No. 94
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[X]
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|X|
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immediately upon filing pursuant to paragraph (b)
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On pursuant to paragraph (b)
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60 days after filing pursuant to paragraph (a)(1)
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on (date) pursuant to paragraph (a)(1)
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75 days after filing pursuant to paragraph (a)(2)
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on (date) pursuant to paragraph (a)(2) of rule 485.
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This post-effective amendment designates a new effective date for a previously filed post-effective amendment.
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360 Funds
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By:
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/s/ Randall Linscott
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Randall Linscott, President and Trustee
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*
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October 25, 2017
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Art Falk, Trustee
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Date
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*
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October 25, 2017
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Thomas Krausz, Trustee
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Date
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*
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October 25, 2017
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Gary DiCenzo, Trustee
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Date
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*
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October 25, 2017
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Tom M. Wirtshafter, Trustee
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Date
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/s/ Randall Linscott
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October 25, 2017
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Randall Linscott, Trustee and President
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Date
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/s/ Larry E. Beaver, Jr.
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October 25, 2017
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Larry E. Beaver, Jr. Assistant Treasurer
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Date
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* By:
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/s/ Randall Linscott
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October 25, 2017
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Randall Linscott, Attorney-in-Fact
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Date
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*
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Attorney-in-fact pursuant to Powers of Attorney
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Index No.
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Description of Exhibit
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EX-101.INS
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XBRL Instance Document
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EX-101.SCH
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XBRL Taxonomy Extension Schema Document
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EX-101.CAL
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XBRL Taxonomy Extension Calculation Linkbase
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EX-101.DEF
|
XBRL Taxonomy Extension Definition Linkbase
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EX-101.LAB
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XBRL Taxonomy Extension Labels Linkbase
|
EX-101.PRE
|
XBRL Taxonomy Extension Presentation Linkbase
|
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EAS Crow Point Alternatives Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SUMMARY | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Objective. The investment objective of the EAS Crow Point Alternatives Fund (the "Fund") is preservation and growth of capital. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fees and Expenses of the Fund. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. 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 the Fund. More information about these and other discounts is available from your financial professional and in the section captioned "Purchasing Shares" on page 22 of the Fund's prospectus and the section captioned "Purchases" beginning on page 38 of the Fund's statement of additional information. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholder Fees (fees paid directly from your investment) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
This Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. This Example also assumes that your investment has a 5% return each year and the Fund's operating expenses remain the same, and the contractual agreement to limit expenses remains in effect only until August 31, 2019. The Contingent Deferred Sales Charge (the "CDSC") is not included in these calculations for Class A Shares. If the CDSC were included, your costs would be higher. See "CDSC for Certain Purchases of Class A Shares" below. Although your actual costs may be higher or lower, based on these assumptions your cost would be: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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. For the fiscal year ended April 30, 2017, the Fund's portfolio turnover rate was 138% of the average value of its portfolio. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal Investment Strategy of the Fund. The Adviser's investment philosophy centers on the preservation and growth of capital through both good and bad markets. The Adviser believes that for most shareholders, investment success is about growing capital over time while protecting it at all times, not about beating a market index which can frequently involve losses while still meeting the objective. Thus, the Adviser follows an absolute return approach in managing the Fund, as defined below. In executing its strategy, the Adviser attempts to generate consistent, positive returns regardless of market conditions by allocating the Fund's investments among multiple alternative investment styles. Alternative investment styles generally exhibit low volatility and relatively low long-term market correlation.
"Low correlation" refers to the extent to which the performance of an investment moves in synch with the broader equity and bond markets. The goal of the Adviser in managing the Fund's assets is to construct a portfolio of assets that exhibit low correlation with and downside capture of the stock market. A correlation measure of 1 demonstrates perfect positive correlation; a correlation measure of 0 demonstrates no correlation and a correlation measure of -1 demonstrates a perfect negative correlation.
Many mutual funds are managed according to a "relative return" approach (i.e., – they aim to perform better than their mutual fund category, their mutual fund peers or the general market as a whole). By contrast, "absolute return" refers to the strategy of seeking positive investment performance regardless of overall or broader market performance. Absolute return strategies, which the Adviser believes will be less volatile, differ from relative return because they are concerned with the return of a particular investment and do not compare it to any other measure or benchmark.
The Fund pursues its absolute return objective by tactically allocating its capital among multiple potential alternative investment classes, including investments in private funds. The Fund may, generally, pursue investments among the following alternative investment classes or strategies: Long-Short Equity, Long-Short Credit, Asset Backed Securities, Arbitrage, Commodities, Convertibles, Floating Rate Debt, Currencies, Emerging Market Bonds, Emerging Market Equities, High Yield, Managed Futures, and Real Estate (primarily through real estate investment trusts ("REITs")).
A general overview of the Fund's investment classes is illustrated below. Allocations among the various investment classes or strategies will vary:
The Fund may invest directly or through other mutual funds, exchange traded funds ("ETFs"), closed-end funds and private funds, including hedge funds ("Underlying Funds") across these alternative investment classes. Investments in private funds, including hedge funds, will be limited to no more than 15% of the Fund's net assets. An ETF is an investment company that typically seeks to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index. The Adviser may invest a portion of the Fund's assets in other mutual funds that are also advised by the Adviser. The Adviser will adjust the asset allocation among each alternative investment class based on its assessment of market conditions and investment opportunities. Depending on market conditions, the core of the Fund's investments will ordinarily be in long-short equity and long-short credit strategies managed by the Adviser. The Adviser also expects to utilize other alternative asset classes to round out portfolio allocations, some of which may also be managed by the Adviser, others may be managed by a Sub-adviser. Whether these asset classes are managed by the Adviser or not, they will generally show lower correlations to broader market indicies to seek to reduce the Fund's volatility compared to the markets in general.
To assist in assessing the attractiveness of each of the alternative asset classes, the Adviser utilizes a proprietary quantitative model that analyzes various technical characteristics of each class and provides a risk score on the investment prospects of each. Specifically, the quantitative model examines certain data to forecast which investment securities, asset classes, or strategies are likely to underperform or outperform cash. The Adviser may allocate to cash or cash equivalents during periods of market duress. The Adviser does not employ market timing, but rather a disciplined, repeatable process with a focus on low volatility, downside protection and portfolio consistency. The Adviser believes the application of a disciplined, quantitative approach to portfolio management and asset allocation helps the Adviser's execution in its goal of generating positive absolute returns over time.
The Fund is designed to exhibit low volatility, low correlation and low downside capture to the broad markets and to provide an effective absolute return alternative to long-only equity strategies and traditional fixed-income strategies. "Broad markets" refer generally to the commonly recognized securities exchanges and the indices that track the performance of those exchanges. Indices commonly used to track these markets include the Standard & Poor's 500 Index and the Barclays Capital Aggregate Bond Index, respectively. As the Fund pursues a multi-strategy approach and utilizes a blend of alternative investment styles, the HFRI Fund-of-Funds Conservative Index is the most relevant index to which the Fund should be benchmarked.
The Fund may invest in securities directly, or through other investment companies, including alternative (a.k.a. "hedged") mutual funds, ETFs, closed end funds and private funds. "Hedged mutual funds" are those mutual funds that employ a non-traditional investment style sometimes found in the hedge fund investment world. For example, they may use a limited amount of leverage, sell securities short, use derivatives and hold cash positions as they deem appropriate to adjust to market cycles. The Fund may utilize derivatives such as equity and index options in order to selectively hedge individual stock exposure. Given the broader investment flexibility, hedged mutual funds can adjust their net long or short equity exposure much more liberally than traditional "long-only" mutual funds. The Hedged mutual funds may pursue a variety of specific investment styles or "hedge fund-like strategies" that fall under the aforementioned alternative investment classes.
By combining multiple alternative asset classes in the Fund, the Adviser pursues a diversified investment program designed with the goal of delivering low market volatility, low market beta and relatively low market correlation. The Fund aims to isolate and extract the key benefits that may be found, but not necessarily exclusively, in hedge fund investing (absolute return, low volatility, low – modest beta, relatively low market correlation, investment flexibility, hedging capability, etc.) by selectively incorporating individual securities or investments, mutual funds, ETFs, closed-end funds and private funds into a mutual fund investment vehicle.
Investment Process: In its portfolio construction process, the Adviser utilizes a rules-based, disciplined investment approach that begins with a quantitative evaluation of individual securities and selected alternative investment classes. Using the same quantitative approach, the Adviser then utilizes its proprietary quantitative investment tools to construct an expected return forecast for securities and asset classes.
By employing a combined quantitative and qualitative process, the Adviser applies a tactical, integrated approach in the investment process for the Fund. This covers all stages of portfolio construction, including forming strategic allocation, identifying new potential investments within the allocation parameters and determining whether such investments meet the Adviser's standards and requirements set forth in its selection process.
The Fund's market capitalization target range for global equities is $250 million to $300 billion. The Fund's investments in fixed income securities are not limited by maturity or credit quality.
The desired result is a disciplined, repeatable investment process that aims for effective market navigation, portfolio consistency and return stability, as illustrated in the following chart.
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Principal Risks of Investing in the Fund. An investment in the Fund is subject to investment risks, including the possible loss of some or all of the principal amount invested. There can be no assurance that the Fund will be successful in meeting its investment objective.
The following describes the risks the Fund bears directly or indirectly through investments in Underlying Funds.
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Performance. The Fund was reorganized on October 13, 2017 from a series of Northern Lights Fund Trust, a Delaware statutory trust (the "Predecessor Fund"), to a series of 360 Funds, a Delaware statutory trust (the "Reorganization"). While the Fund is substantially similar to the Predecessor Fund and theoretically would have invested in the same portfolio of securities, the Fund's performance may be different than the performance of the Predecessor Fund due to, among other things, differences in fees and expenses.
The bar chart and performance table below show the variability of the Predecessor Fund's returns, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Predecessor Fund's Class I shares for each full calendar year since the Predecessor Fund's inception. The performance table compares the performance of the Predecessor Fund's Class A, Class C and Class I shares over time to the performance of a broad-based securities market index. You should be aware that the Predecessor Fund's past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Updated performance information will be available at no cost by calling (877) 244-6235. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance Bar Chart For Class I Shares Calendar Years Ended December 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The total return for Class I shares for the quarter ended June 30, 2017 was 3.23%. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance Table Average Annual Total Returns (For periods ended December 31, 2016) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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* The Fund’s current adviser has managed the Fund since March 1, 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder's tax situation and may differ from those shown. The after-tax returns are not relevant if you hold your Fund shares in tax-deferred arrangements, such as 401(k) plans or individual retirement accounts ("IRA"). Class A returns before taxes include maximum possible sale load. After-tax returns for Class A and Class C shares, which are not shown, will vary from those of Class I shares. The Fund's broad based securities market index (benchmark) has been changed to the HFRI Fund-of-Funds Conservative Index from the S&P 500® Index to better reflect the securities and strategies used by the Fund's Adviser.
It is important to note that the Predecessor Fund's name was changed and the strategy of the EAS Crow Point Alternatives Fund was modified, effective March 1, 2013 and the strategy was updated again, effective August 29, 2016. Under the investment approach prior to March 1, 2013, the EAS Crow Point Alternatives Fund, formerly known as the "EAS Alternatives Fund" and the "EAS Genesis Fund," had a broader mandate and the Predecessor Fund was managed by a different investment adviser and portfolio manager. The Fund's current investment adviser, Crow Point Partners, LLC, began managing the Predecessor Fund in March, 2013. The historical performance information illustrated above includes that of the Predecessor Fund's former strategy, run by the former portfolio management team.
Current performance of the Fund may be lower or higher than the performance quoted above. Updated performance information may be obtained by calling (877) 244-6235. |
Label | Element | Value | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Document Type | dei_DocumentType | 485BPOS | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Document Period End Date | dei_DocumentPeriodEndDate | Apr. 30, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Registrant Name | dei_EntityRegistrantName | 360 Funds | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Central Index Key | dei_EntityCentralIndexKey | 0001319067 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Amendment Flag | dei_AmendmentFlag | false | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Document Creation Date | dei_DocumentCreationDate | Oct. 13, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Document Effective Date | dei_DocumentEffectiveDate | Oct. 13, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Prospectus Date | rr_ProspectusDate | Oct. 13, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
EAS Crow Point Alternatives Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | SUMMARY |
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Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | Investment Objective. The investment objective of the EAS Crow Point Alternatives Fund (the "Fund") is preservation and growth of capital. |
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Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | 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 if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in the section captioned "Purchasing Shares" on page 22 of the Fund's prospectus and the section captioned "Purchases" beginning on page 38 of the Fund's statement of additional information. |
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Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment) |
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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) |
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Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | August 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | 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. For the fiscal year ended April 30, 2017, the Fund's portfolio turnover rate was 138% of the average value of its portfolio. |
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Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 138.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 the Fund. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Expense Breakpoint, Minimum Investment Required [Amount] | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Expenses, New Fund, Based on Estimates [Text] | rr_OtherExpensesNewFundBasedOnEstimates | Estimated for the Funds first fiscal year of operations following the reorganization, as described below. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Expenses Restated to Reflect Current [Text] | rr_ExpensesRestatedToReflectCurrent | The expenses have been restated based on contractual arrangements with the Funds current service providers. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] | rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees | Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets provided in the Financial Highlights. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
This Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. This Example also assumes that your investment has a 5% return each year and the Fund's operating expenses remain the same, and the contractual agreement to limit expenses remains in effect only until August 31, 2019. The Contingent Deferred Sales Charge (the "CDSC") is not included in these calculations for Class A Shares. If the CDSC were included, your costs would be higher. See "CDSC for Certain Purchases of Class A Shares" below. Although your actual costs may be higher or lower, based on these assumptions your cost would be: |
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Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | Principal Investment Strategy of the Fund. The Adviser's investment philosophy centers on the preservation and growth of capital through both good and bad markets. The Adviser believes that for most shareholders, investment success is about growing capital over time while protecting it at all times, not about beating a market index which can frequently involve losses while still meeting the objective. Thus, the Adviser follows an absolute return approach in managing the Fund, as defined below. In executing its strategy, the Adviser attempts to generate consistent, positive returns regardless of market conditions by allocating the Fund's investments among multiple alternative investment styles. Alternative investment styles generally exhibit low volatility and relatively low long-term market correlation.
"Low correlation" refers to the extent to which the performance of an investment moves in synch with the broader equity and bond markets. The goal of the Adviser in managing the Fund's assets is to construct a portfolio of assets that exhibit low correlation with and downside capture of the stock market. A correlation measure of 1 demonstrates perfect positive correlation; a correlation measure of 0 demonstrates no correlation and a correlation measure of -1 demonstrates a perfect negative correlation.
Many mutual funds are managed according to a "relative return" approach (i.e., – they aim to perform better than their mutual fund category, their mutual fund peers or the general market as a whole). By contrast, "absolute return" refers to the strategy of seeking positive investment performance regardless of overall or broader market performance. Absolute return strategies, which the Adviser believes will be less volatile, differ from relative return because they are concerned with the return of a particular investment and do not compare it to any other measure or benchmark.
The Fund pursues its absolute return objective by tactically allocating its capital among multiple potential alternative investment classes, including investments in private funds. The Fund may, generally, pursue investments among the following alternative investment classes or strategies: Long-Short Equity, Long-Short Credit, Asset Backed Securities, Arbitrage, Commodities, Convertibles, Floating Rate Debt, Currencies, Emerging Market Bonds, Emerging Market Equities, High Yield, Managed Futures, and Real Estate (primarily through real estate investment trusts ("REITs")).
A general overview of the Fund's investment classes is illustrated below. Allocations among the various investment classes or strategies will vary:
The Fund may invest directly or through other mutual funds, exchange traded funds ("ETFs"), closed-end funds and private funds, including hedge funds ("Underlying Funds") across these alternative investment classes. Investments in private funds, including hedge funds, will be limited to no more than 15% of the Fund's net assets. An ETF is an investment company that typically seeks to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index. The Adviser may invest a portion of the Fund's assets in other mutual funds that are also advised by the Adviser. The Adviser will adjust the asset allocation among each alternative investment class based on its assessment of market conditions and investment opportunities. Depending on market conditions, the core of the Fund's investments will ordinarily be in long-short equity and long-short credit strategies managed by the Adviser. The Adviser also expects to utilize other alternative asset classes to round out portfolio allocations, some of which may also be managed by the Adviser, others may be managed by a Sub-adviser. Whether these asset classes are managed by the Adviser or not, they will generally show lower correlations to broader market indicies to seek to reduce the Fund's volatility compared to the markets in general.
To assist in assessing the attractiveness of each of the alternative asset classes, the Adviser utilizes a proprietary quantitative model that analyzes various technical characteristics of each class and provides a risk score on the investment prospects of each. Specifically, the quantitative model examines certain data to forecast which investment securities, asset classes, or strategies are likely to underperform or outperform cash. The Adviser may allocate to cash or cash equivalents during periods of market duress. The Adviser does not employ market timing, but rather a disciplined, repeatable process with a focus on low volatility, downside protection and portfolio consistency. The Adviser believes the application of a disciplined, quantitative approach to portfolio management and asset allocation helps the Adviser's execution in its goal of generating positive absolute returns over time.
The Fund is designed to exhibit low volatility, low correlation and low downside capture to the broad markets and to provide an effective absolute return alternative to long-only equity strategies and traditional fixed-income strategies. "Broad markets" refer generally to the commonly recognized securities exchanges and the indices that track the performance of those exchanges. Indices commonly used to track these markets include the Standard & Poor's 500 Index and the Barclays Capital Aggregate Bond Index, respectively. As the Fund pursues a multi-strategy approach and utilizes a blend of alternative investment styles, the HFRI Fund-of-Funds Conservative Index is the most relevant index to which the Fund should be benchmarked.
The Fund may invest in securities directly, or through other investment companies, including alternative (a.k.a. "hedged") mutual funds, ETFs, closed end funds and private funds. "Hedged mutual funds" are those mutual funds that employ a non-traditional investment style sometimes found in the hedge fund investment world. For example, they may use a limited amount of leverage, sell securities short, use derivatives and hold cash positions as they deem appropriate to adjust to market cycles. The Fund may utilize derivatives such as equity and index options in order to selectively hedge individual stock exposure. Given the broader investment flexibility, hedged mutual funds can adjust their net long or short equity exposure much more liberally than traditional "long-only" mutual funds. The Hedged mutual funds may pursue a variety of specific investment styles or "hedge fund-like strategies" that fall under the aforementioned alternative investment classes.
By combining multiple alternative asset classes in the Fund, the Adviser pursues a diversified investment program designed with the goal of delivering low market volatility, low market beta and relatively low market correlation. The Fund aims to isolate and extract the key benefits that may be found, but not necessarily exclusively, in hedge fund investing (absolute return, low volatility, low – modest beta, relatively low market correlation, investment flexibility, hedging capability, etc.) by selectively incorporating individual securities or investments, mutual funds, ETFs, closed-end funds and private funds into a mutual fund investment vehicle.
Investment Process: In its portfolio construction process, the Adviser utilizes a rules-based, disciplined investment approach that begins with a quantitative evaluation of individual securities and selected alternative investment classes. Using the same quantitative approach, the Adviser then utilizes its proprietary quantitative investment tools to construct an expected return forecast for securities and asset classes.
By employing a combined quantitative and qualitative process, the Adviser applies a tactical, integrated approach in the investment process for the Fund. This covers all stages of portfolio construction, including forming strategic allocation, identifying new potential investments within the allocation parameters and determining whether such investments meet the Adviser's standards and requirements set forth in its selection process.
The Fund's market capitalization target range for global equities is $250 million to $300 billion. The Fund's investments in fixed income securities are not limited by maturity or credit quality.
The desired result is a disciplined, repeatable investment process that aims for effective market navigation, portfolio consistency and return stability, as illustrated in the following chart.
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Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | Principal Risks of Investing in the Fund. An investment in the Fund is subject to investment risks, including the possible loss of some or all of the principal amount invested. There can be no assurance that the Fund will be successful in meeting its investment objective.
The following describes the risks the Fund bears directly or indirectly through investments in Underlying Funds.
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Risk Lose Money [Text] | rr_RiskLoseMoney | An investment in the Fund is subject to investment risks, including the possible loss of some or all of the principal amount invested. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | Performance. The Fund was reorganized on October 13, 2017 from a series of Northern Lights Fund Trust, a Delaware statutory trust (the "Predecessor Fund"), to a series of 360 Funds, a Delaware statutory trust (the "Reorganization"). While the Fund is substantially similar to the Predecessor Fund and theoretically would have invested in the same portfolio of securities, the Fund's performance may be different than the performance of the Predecessor Fund due to, among other things, differences in fees and expenses.
The bar chart and performance table below show the variability of the Predecessor Fund's returns, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Predecessor Fund's Class I shares for each full calendar year since the Predecessor Fund's inception. The performance table compares the performance of the Predecessor Fund's Class A, Class C and Class I shares over time to the performance of a broad-based securities market index. You should be aware that the Predecessor Fund's past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Updated performance information will be available at no cost by calling (877) 244-6235. |
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Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The bar chart and performance table below show the variability of the Predecessor Fund's returns, which is some indication of the risks of investing in the Fund. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | (877) 244-6235 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | You should be aware that the Predecessor Fund's past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Bar Chart [Heading] | rr_BarChartHeading | Performance Bar Chart For Class I Shares Calendar Years Ended December 31 |
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Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock |
The total return for Class I shares for the quarter ended June 30, 2017 was 3.23%. |
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Performance Table Heading | rr_PerformanceTableHeading | Performance Table Average Annual Total Returns (For periods ended December 31, 2016) |
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Performance Table Does Reflect Sales Loads | rr_PerformanceTableDoesReflectSalesLoads | Class A returns before taxes include maximum possible sale load. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance Table Market Index Changed | rr_PerformanceTableMarketIndexChanged | The Fund's broad based securities market index (benchmark) has been changed to the HFRI Fund-of-Funds Conservative Index from the S&P 500® Index to better reflect the securities and strategies used by the Fund's Adviser. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | Actual after-tax returns depend on a shareholders tax situation and may differ from those shown. The after-tax returns are not relevant if you hold your Fund shares in tax-deferred arrangements, such as 401(k) plans or individual retirement accounts ("IRA"). | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance Table One Class of after Tax Shown [Text] | rr_PerformanceTableOneClassOfAfterTaxShown | After-tax returns for Class A and Class C shares, which are not shown, will vary from those of Class I shares. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance Table Footnotes | rr_PerformanceTableFootnotesTextBlock | * The Fund’s current adviser has managed the Fund since March 1, 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance Table Closing [Text Block] | rr_PerformanceTableClosingTextBlock |
After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder's tax situation and may differ from those shown. The after-tax returns are not relevant if you hold your Fund shares in tax-deferred arrangements, such as 401(k) plans or individual retirement accounts ("IRA"). Class A returns before taxes include maximum possible sale load. After-tax returns for Class A and Class C shares, which are not shown, will vary from those of Class I shares. The Fund's broad based securities market index (benchmark) has been changed to the HFRI Fund-of-Funds Conservative Index from the S&P 500® Index to better reflect the securities and strategies used by the Fund's Adviser.
It is important to note that the Predecessor Fund's name was changed and the strategy of the EAS Crow Point Alternatives Fund was modified, effective March 1, 2013 and the strategy was updated again, effective August 29, 2016. Under the investment approach prior to March 1, 2013, the EAS Crow Point Alternatives Fund, formerly known as the "EAS Alternatives Fund" and the "EAS Genesis Fund," had a broader mandate and the Predecessor Fund was managed by a different investment adviser and portfolio manager. The Fund's current investment adviser, Crow Point Partners, LLC, began managing the Predecessor Fund in March, 2013. The historical performance information illustrated above includes that of the Predecessor Fund's former strategy, run by the former portfolio management team.
Current performance of the Fund may be lower or higher than the performance quoted above. Updated performance information may be obtained by calling (877) 244-6235. |
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EAS Crow Point Alternatives Fund | Class A Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading Symbol | dei_TradingSymbol | EASAX | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 amount redeemed) | rr_MaximumDeferredSalesChargeOverOfferingPrice | 1.00% | [1] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends/Distributions | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption Fee on Shares Held Less Than 30 Days (as a % of amount redeemed) | rr_RedemptionFeeOverRedemption | (2.00%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Management Fees | rr_ManagementFeesOverAssets | 1.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest and Dividends on Securities Sold Short | rr_Component1OtherExpensesOverAssets | 0.23% | [2] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 1.03% | [2] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Expenses | rr_OtherExpensesOverAssets | 1.26% | [2] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 2.56% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 5.07% | [3] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Fee Waivers and Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.33%) | [3],[4] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Annual Fund Operating Expenses After Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 4.74% | [3],[4] | |||||||||||||||||||||||||||||||||||||||||||||||||||
One Year | rr_ExpenseExampleYear01 | $ 999 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Years | rr_ExpenseExampleYear03 | 1,959 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Five Years | rr_ExpenseExampleYear05 | 2,917 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ten Years | rr_ExpenseExampleYear10 | $ 5,308 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | (7.24%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | (0.16%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 0.07% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Aug. 14, 2008 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
EAS Crow Point Alternatives Fund | Class C Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading Symbol | dei_TradingSymbol | EASYX | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 amount redeemed) | rr_MaximumDeferredSalesChargeOverOfferingPrice | 1.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends/Distributions | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption Fee on Shares Held Less Than 30 Days (as a % of amount redeemed) | rr_RedemptionFeeOverRedemption | (2.00%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Management Fees | rr_ManagementFeesOverAssets | 1.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 1.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest and Dividends on Securities Sold Short | rr_Component1OtherExpensesOverAssets | 0.24% | [2] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 1.04% | [2] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Expenses | rr_OtherExpensesOverAssets | 1.28% | [2] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 2.56% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 5.84% | [3] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Fee Waivers and Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.34%) | [3],[4] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Annual Fund Operating Expenses After Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 5.50% | [3],[4] | |||||||||||||||||||||||||||||||||||||||||||||||||||
One Year | rr_ExpenseExampleYear01 | $ 549 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Years | rr_ExpenseExampleYear03 | 1,701 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Five Years | rr_ExpenseExampleYear05 | 2,834 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ten Years | rr_ExpenseExampleYear10 | $ 5,585 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | (2.60%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 0.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 0.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Aug. 14, 2008 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
EAS Crow Point Alternatives Fund | Class I Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading Symbol | dei_TradingSymbol | EASIX | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 amount redeemed) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends/Distributions | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption Fee on Shares Held Less Than 30 Days (as a % of amount redeemed) | rr_RedemptionFeeOverRedemption | (2.00%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Management Fees | rr_ManagementFeesOverAssets | 1.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest and Dividends on Securities Sold Short | rr_Component1OtherExpensesOverAssets | 0.27% | [2] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 1.02% | [2] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Expenses | rr_OtherExpensesOverAssets | 1.29% | [2] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 2.56% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 4.85% | [3] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Fee Waivers and Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.32%) | [3],[4] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Annual Fund Operating Expenses After Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 4.53% | [3],[4] | |||||||||||||||||||||||||||||||||||||||||||||||||||
One Year | rr_ExpenseExampleYear01 | $ 454 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Years | rr_ExpenseExampleYear03 | 1,430 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Five Years | rr_ExpenseExampleYear05 | 2,409 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ten Years | rr_ExpenseExampleYear10 | $ 4,869 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2009 | rr_AnnualReturn2009 | 11.89% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2010 | rr_AnnualReturn2010 | 4.31% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2011 | rr_AnnualReturn2011 | (7.51%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2012 | rr_AnnualReturn2012 | 6.54% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | rr_AnnualReturn2013 | 7.12% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | rr_AnnualReturn2014 | 2.41% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2015 | rr_AnnualReturn2015 | (1.72%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2016 | rr_AnnualReturn2016 | (1.66%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Year to Date Return, Label | rr_YearToDateReturnLabel | total return for Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Jun. 30, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | 3.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best Quarter | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2009 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 5.72% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst Quarter | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Sep. 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (9.12%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | (1.72%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 1.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 1.06% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Aug. 14, 2008 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
EAS Crow Point Alternatives Fund | Return after taxes on distributions | Class I Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | (2.00%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 0.44% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 0.48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Aug. 14, 2008 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
EAS Crow Point Alternatives Fund | Return after taxes on distributions and sale of Fund shares | Class I Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | (0.74%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 0.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 0.83% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Aug. 14, 2008 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
EAS Crow Point Alternatives Fund | Barclay's U.S. Aggregate Bond Index | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 2.65% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 2.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 4.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Aug. 14, 2008 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
EAS Crow Point Alternatives Fund | HFRI Fund-of-Funds Conservative Index | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 1.89% | [5] | |||||||||||||||||||||||||||||||||||||||||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 3.43% | [5] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 1.00% | [5],[6] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Aug. 14, 2008 | [5] | |||||||||||||||||||||||||||||||||||||||||||||||||||
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