e485bpos

Table of Contents

Table of Contents

Table of Contents

Table of Contents

0000950123-11-041557.txt : 20110429 0000950123-11-041557.hdr.sgml : 20110429 20110429112359 ACCESSION NUMBER: 0000950123-11-041557 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20110429 DATE AS OF CHANGE: 20110429 EFFECTIVENESS DATE: 20110429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VALUED ADVISERS TRUST CENTRAL INDEX KEY: 0001437249 IRS NUMBER: 262762915 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-151672 FILM NUMBER: 11791945 BUSINESS ADDRESS: STREET 1: 2960 N MERIDIAN STREET STE 300 CITY: INDIANAPOLIS STATE: IN ZIP: 46208 BUSINESS PHONE: 317-917-7000 MAIL ADDRESS: STREET 1: 2960 N MERIDIAN STREET STE 300 CITY: INDIANAPOLIS STATE: IN ZIP: 46208 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VALUED ADVISERS TRUST CENTRAL INDEX KEY: 0001437249 IRS NUMBER: 262762915 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-22208 FILM NUMBER: 11791946 BUSINESS ADDRESS: STREET 1: 2960 N MERIDIAN STREET STE 300 CITY: INDIANAPOLIS STATE: IN ZIP: 46208 BUSINESS PHONE: 317-917-7000 MAIL ADDRESS: STREET 1: 2960 N MERIDIAN STREET STE 300 CITY: INDIANAPOLIS STATE: IN ZIP: 46208

0001437249 S000031543 Angel Oak Multi-Strategy Income Fund

C000098161 Angel Oak Multi-Strategy Income Fund

485BPOS 1 l42450e485bpos.htm 485BPOS e485bpos

As filed with the Securities and Exchange Commission on April 29, 2011
Securities Act File No. 333-151672
Investment Company Act File No. 811-22208

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-1A


REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933			þ

Pre-Effective Amendment No.			o
Post-Effective Amendment No. 33			þ
and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940			þ

Amendment No. 34			þ

VALUED ADVISERS TRUST

(Exact Name of Registrant as Specified in Charter)

2960 N. Meridian St., Suite 300, Indianapolis, Indiana 46208
(Address of Principal Executive Offices, Zip Code)

Registrant’s Telephone Number, including Area Code: (317) 917-7000

Capitol Services, Inc.
615 S. Dupont Hwy., Dover, Delaware 19901
(Name and Address of Agent for Service)

With Copies to:

John H. Lively
The Law Offices of John H. Lively & Associates, Inc.
A member firm of The 1940 Act Law Group
2041 W. 141^st Terrace, Suite 119
Leawood, KS 66224

It is proposed that this filing will become effective:

þ		immediately upon filing pursuant to paragraph (b);
o		on (date) pursuant to paragraph (b);
o		60 days after filing pursuant to paragraph (a)(1);
o		on (date) pursuant to paragraph (a)(1);
o		75 days after filing pursuant to paragraph (a)(2); or
o		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.

TABLE OF CONTENTS


SIGNATURES
INDEX TO EXHIBITS
EX-101 INSTANCE DOCUMENT
EX-101 SCHEMA DOCUMENT
EX-101 CALCULATION LINKBASE DOCUMENT
EX-101 LABELS LINKBASE DOCUMENT
EX-101 PRESENTATION LINKBASE DOCUMENT
EX-101 DEFINITION LINKBASE DOCUMENT

EXPLANATORY NOTE

This Post-Effective Amendment No. 33 to the Trust’s Registration Statement on Form N-1A is filed for the sole purpose of submitting the XBRL exhibits for the risk/return summary first provided in Post-Effective Amendment No. 32 filed on April 18, 2011 and incorporates Parts A, B and C from said amendment.

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 (“Securities Act”) and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act and has duly caused this Post-Effective Amendment No. 33 to the Registrant’s Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Indianapolis, and State of Indiana on this 29th day of April, 2011.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the date indicated.


*				April 29, 2011
Dr. Merwyn Vanderlind, Trustee				Date

*				April 29, 2011
Ira Cohen, Trustee				Date

*				April 29, 2011
R. Jeffrey Young, President and Trustee				Date

*				April 29, 2011
William J. Murphy, Treasurer and Principal Financial Officer				Date


*	By:	/s/ Carol J. Highsmith	April 29, 2011
Carol J. Highsmith, Vice President, Attorney in Fact			Date

INDEX TO EXHIBITS

(FOR REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 AND THE
INVESTMENT COMPANY ACT OF 1940)


EXHIBIT NO.
UNDER PART C
OF FORM N-1A		NAME OF EXHIBIT

EX-101.ins		XBRL Instance Document

EX-101.sch		XBRL Taxonomy Extension Schema Document

EX-101.cal		XBRL Taxonomy Extension Calculation Linkbase Document

EX-101.lab		XBRL Taxonomy Extension Labels Linkbase

EX-101.pre		XBRL Taxonomy Extension Presentation Linkbase Document

EX-101.def		XBRL Taxonomy Extension Definition Linkbase

EX-101.INS 3 vat1437249-20110414.xml EX-101 INSTANCE DOCUMENT 0001437249 vat1437249:S000031543Member 2010-04-15 2011-04-14 0001437249 2010-04-15 2011-04-14 iso4217:USD xbrli:pure false 2011-04-18 2011-04-18 2011-04-18 485BPOS 0001437249 VALUED ADVISERS TRUST <div><div> &lt;div style="display:none;" &gt;~ http://angeloakfunds.com/role/AnnualFundOperatingExpensesAngelOakMultiStrategyIncomeFund column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_DocumentInformationDocumentAxis compact vat1437249 _S000031543_Member * ~&lt;/div&gt; </div></div> Performance 0.0025 Expense 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. Only the one year number shown below reflects the Adviser’s agreement to waive fees and/or reimburse Fund expenses. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div><div> &lt;div style="display:none;" &gt;~ http://angeloakfunds.com/role/ExpenseExampleAngelOakMultiStrategyIncomeFund column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_DocumentInformationDocumentAxis compact vat1437249 _S000031543_Member * ~&lt;/div&gt; </div></div> 790 1250 Fees and Expenses of the Fund The table below describes the fees and expenses that you may pay if you buy and hold shares of the Fund. 0.0231 -0.0006 May 31, 2012 0.0150 0.0000 0.0575 0.0225 Investment Objective The investment objective of the Angel Oak Multi-Strategy Income Fund (the “Fund”) is current income. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Estimated for the first year of operations. 0.0056 The Fund recently commenced operations and, as a result, does not have a full calendar year of performance history. Investors should be aware that past performance is not necessarily an indication of how the Fund will perform in the future. The Fund recently commenced operations and, as a result, does not have a full calendar year of performance history. Investors should be aware that past performance is not necessarily an indication of how the Fund will perform in the future. 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 operating expenses or in the example above, affect the Fund’s performance. 2011-04-14 0.0000 Principal Risks There may be circumstances that could prevent the Fund from achieving its investment goal and you may lose money by investing in the Fund. The principal risks of investing in the Fund are summarized below. There may be circumstances that could prevent the Fund from achieving its investment goal and you may lose money by investing in the Fund. You should carefully consider the Fund’s investment risks before deciding whether to invest in the Fund. Risks in General. Domestic and foreign economic growth and market conditions, interest rate levels, and political events are among the factors affecting the securities markets of the Fund's investments. There is risk that these and other factors may adversely affect the Fund’s performance. The loss of money is a risk of investing in the Fund. Mortgage-Backed and Asset-Backed Securities Risks. Prepayment risk is associated with mortgage-backed and asset-backed securities. If interest rates fall, the underlying debt may be repaid ahead of schedule, reducing the value of the Fund’s investments. If interest rates rise, there may be fewer prepayments, which would cause the average bond maturity to rise, increasing the potential for the Fund to lose money. The value of these securities may be significantly affected by changes in interest rates, the market’s perception of issuers, and the creditworthiness of the parties involved. The ability of the Fund to successfully utilize these instruments may depend on the ability of the Fund’s Adviser to forecast interest rates and other economic factors correctly. These securities may have a structure that makes their reaction to interest rate changes and other factors difficult to predict, making their value highly volatile. Certain mortgage-backed securities may be secured by pools of mortgages on single-family , multi-family properties , as well as commercial properties. Similarly, asset - backed securities may be secured by pools of loans, such as student loans, automobile loans and credit card receivables. The credit risk on such securities is affected by homeowners or borrowers defaulting on their loans. The values of assets underlying mortgage-backed and asset-backed securities may decline and therefore may not be adequate to cover underlying investors. Mortgage-backed securities and other securities issued by participants in housing and commercial real estate finance , as well as other real estate-related markets have experienced extraordinary weakness and volatility in recent years. Possible legislation in the area of residential mortgages, credit cards and other loans that may collateralize the securities in which the Fund may invest could negatively impact the value of the Fund’s investments . To the extent the Fund focuses its investments in particular types of mortgage-backed or asset-backed securities, the Fund may be more susceptible to risk factors affecting such types of securities. Fixed Income Securities Risks. Investing in fixed income securities subjects the Fund to interest rate risk and credit risk. Interest rate risk is the risk that increases in interest rates could cause the prices of the Fund’s investments in fixed income securities to decline. Credit risk is the risk that the issuer of bonds may not be able to meet interest or principal payments when bonds become due. The Fund could lose money or experience a lower rate of return if it holds high-yield securities (“junk bonds”) that are subject to higher credit risks and are less liquid than other fixed income securities. Junk bonds have more credit risk than investment grade bonds. Junk Bonds may be regarded as predominantly speculative with respect to the issuer’s continuing ability to meet principal and interest payments. They may also be more susceptible to real or perceived adverse economic and competitive industry conditions than higher rated securities. The Adviser may, to a certain extent, rely on credit rating agencies’ assessments of the fixed income securities in which the Fund may invest, and to the extent the Adviser relies too heavily on those assessments without independently investigating of the quality of the particular securities, such security may be subject to more of the risks described in this paragraph. Liquidity Risks / Illiquidity Risks. The Fund may, at times, hold illiquid securities, by virtue of the absence of a readily available market for certain of its investments, or because of legal or contractual restrictions on sales. The Fund will not make investments in illiquid securities, to the extent that it would hold 15% of its net assets in securities deemed to be illiquid following the investment. The Fund could lose money if it is unable to dispose of an investment at a time that is most beneficial to the Fund.Concentration Risk. Concentration risk results from maintaining exposure to the performance of the residential and commercial mortgages held in the mortgage-backed securities in which the Fund will invest. The risk of concentrating in these types of investments is that the Fund will be susceptible to the risks associated with mortgage-backed securities as discussed above. Investment Selection Risk. The Fund’s ability to achieve its investment objective is dependent on the Adviser’s ability to identify profitable investment opportunities for the Fund. Risk of Non-Diversification. The Fund is a non-diversified portfolio, which means that it has the ability to take larger positions in a smaller number of securities than a portfolio that is “diversified.” Non-diversification increases the risk that the value of the Fund could go down because of the poor performance of a single investment. An investment in the Fund is not a deposit at a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Risk of Non-Diversification. The Fund is a non-diversified portfolio, which means that it has the ability to take larger positions in a smaller number of securities than a portfolio that is “diversified.” Non-diversification increases the risk that the value of the Fund could go down because of the poor performance of a single investment. An investment in the Fund is not a deposit at a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. SUMMARY SECTION Shareholder fees (fees paid directly from your investment) <div><div> &lt;div style="display:none;" &gt;~ http://angeloakfunds.com/role/ShareholderFeesAngelOakMultiStrategyIncomeFund column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_DocumentInformationDocumentAxis compact vat1437249 _S000031543_Member * ~&lt;/div&gt; </div></div> Principal Investment Strategies The Angel Oak Multi-Strategy Income Fund (the “Fund”) invests primarily in asset -backed fixed income securities, including securities backed by assets such as credit card receivables, student loans, automobile loans and residential and commercial real estate. The Fund’s allocation of its assets into various asset classes within the asset -backed fixed income market will depend on the views of Angel Oak Capital Advisors, LLC (the “Adviser”), the investment adviser to the Fund, as to the best value relative to what is currently presented in the market place. From time to time, the Fund may allocate its assets so as to focus on particular types of asset-backed fixed income securities. Initially, the Adviser anticipates focusing the Fund’s investments on non-agency, residential mortgage-backed securities. When selecting these types of investments for the Fund, the Adviser intends to focus on residential mortgage-backed securities that are collateralized by pools of Prime or Alternative-A (“Alt-A”) mortgages (i.e., mortgages made to borrowers with lower credit risk profiles than “sub-prime”) and that are seasoned (i.e., have a history of timely payments). These securities may be either “agency” or “non-agency,” meaning that they have balances that fall within the limits set by the Federal Finance Housing Agency (“FFHA”) and qualify as collateral for securities that are issued by the Government National Mortgage Association (“Ginnie Mae”), the Federal National Mortgage Association (“Fannie Mae”) or the Federal Home Loan Mortgage Corporation (“Freddie Mac”). Non-agency loans may or may not meet such criteria and are sometimes referred to as “private label paper.” The Adviser analyzes a variety of factors when selecting investments for the Fund , such as collateral quality, credit support, structure and market conditions. The Adviser attempts to diversify risks that arise from position sizes, geography, ratings, duration, deal structure and collateral values. The Adviser will also seek to invest in securities that have relatively low volatility. The Fund may also invest, without limitation, in corporate debt securities of any quality, including junk bonds, and securities that are not rated by any rating agencies. In selecting debt investments, the Adviser may consider maturity, yield and ratings information and opportunities for price appreciation. The Fund is a “non-diversified” fund, which means it can invest in fewer securities at any one time than a diversified fund. The Fund may, at times, hold illiquid securities. The Adviser may sell investments if it determines that any of the mentioned factors have changed materially from its initial analysis or that other factors indicate an investment is no longer earning a return commensurate with its risk. The Angel Oak Multi-Strategy Income Fund (the “Fund”) invests primarily in asset -backed fixed income securities , including securities backed by assets such as credit card receivables, student loans automobile loans and residential and commercial real estate. Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement reflect that the Adviser has contractually agreed to waive or limit its fees and to assume other expenses of the Fund until May 31, 2012, so that Total Annual Fund Operating Expenses does not exceed 2.00 %. This operating expense limitation does not apply to brokerage fees and commissions, borrowing costs (such as interest and dividend expenses on securities sold short), taxes, 12b-1 fees; extraordinary expenses and indirect expenses (such as "acquired funds fees and expenses"). The Adviser may be entitled to the reimbursement of any fees waived or expenses reimbursed pursuant to the agreement provided overall expenses fall below the limitations set forth above. The Adviser may recoup the sum of all fees previously waived or expenses reimbursed during any of the previous three (3) years, less any reimbursement previously paid, provided total expenses do not exceed the limitation set forth above. Estimated for the first year of operations. EX-101.SCH 4 vat1437249-20110414.xsd EX-101 SCHEMA DOCUMENT 0400000 - Disclosure - Risk/Return Detail Data {Elements} link:presentationLink link:calculationLink link:definitionLink 0200300 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 0200200 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 0200100 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 0100000 - Document - Risk/Return Summary {Unlabeled} link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 5 vat1437249-20110414_cal.xml EX-101 CALCULATION LINKBASE DOCUMENT EX-101.LAB 6 vat1437249-20110414_lab.xml EX-101 LABELS LINKBASE DOCUMENT Angel Oak Multi-Strategy Income Fund Angel Oak Multi-Strategy Income Fund. Shareholder Fees: Shareholder fees Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) Maximum Sales Charge (load) Imposed on Purchases (as a % of offering price) Maximum Deferred Sales Charge (as a percentage) Maximum Deferred Sales Charge (load) (as a % of amount redeemed) Redemption Fee (as a percentage of Amount Redeemed) Redemption Fee (as a percentage of Amount Redeemed) Redemption Fee (as a percentage of amount redeemed within 30 days of purchase and a $15 fee for redemptions paid by wire) Management Fees (as a percentage of Assets) Management Fees Operating Expenses: Annual Fund Operating Expenses Distribution and Service (12b-1) Fees Distribution and Service (12b-1) Fees Other Expenses (as a percentage of Assets): Other Expenses Other Expenses Expenses (as a percentage of Assets) Total Expenses Total Annual Fund Operating Expenses Fee Waiver or Reimbursement Fee Waiver/Expense Reimbursement Fee Waiver/Expense Reimbursement Net Expenses (as a percentage of Assets) Net Expenses Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement Expense Example, with Redemption, 1 Year 1 Year One Year Expense Example, with Redemption, 3 Years 3 Years Three Years Expense Example: Expense Example: Fund Fees And Expenses [Abstract] Fees and Expenses of the Fund Fund Fees And Expenses. Portfolio Turnover Alt [Abstract] Portfolio Turnover Portfolio Turnover. Fund Past Performance [Abstract] Performance Fund Past Performance. Prospectus: Document [Axis] Prospectus Risk/Return: Risk/Return [Heading] Objective [Heading] Objective, Primary [Text Block] Expense [Heading] Expense Narrative [Text Block] Shareholder Fees Caption [Text] Shareholder Fees [Table] Operating Expenses Caption [Text] Annual Fund Operating Expenses [Table] Expense Example [Heading] Expense Example Narrative [Text Block] Expense Example, With Redemption [Table] Portfolio Turnover [Heading] Portfolio Turnover [Text Block] Strategy [Heading] Strategy Narrative [Text Block] Risk [Heading] Risk Narrative [Text Block] Bar Chart and Performance Table [Heading] Performance Narrative [Text Block] Document Type Document Period End Date Registrant Name Central Index Key Amendment Flag Document Creation Date Document Effective Date Prospectus Date Strategy Portfolio Concentration [Text] Risk Lose Money [Text] Risk Nondiversified Status [Text] Risk Not Insured Depository Institution [Text] Performance Past Does Not Indicate Future [Text] Fee Waiver or Reimbursement over Assets, Date of Termination Other Expenses, New Fund, Based on Estimates [Text] Performance One Year or Less [Text] EX-101.PRE 7 vat1437249-20110414_pre.xml EX-101 PRESENTATION LINKBASE DOCUMENT EX-101.DEF 8 vat1437249-20110414_def.xml EX-101 DEFINITION LINKBASE DOCUMENT ZIP 9 0000950123-11-041557-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000950123-11-041557-xbrl.zip M4$L#!!0````(``9;G3Y&_5'&4A@``-Q<```7`!P`=F%T,30S-S(T.2TR,#$Q M,#0Q-"YX;6Q55`D``QO8NDT;V+I-=7@+``$$)0X```0Y`0``[3QK<]M&DM]3 ME?\PI[WDG"L^1$E.8EGVEOQ0HEO;B@WW?P7D@+S\,]6K\W&(4[+QWLJCP4!\.]7?C? M:"2>'.[M'XZ>B/=O>>'UV!0"*"CMLYU972\.A\/E7-RS'VV/`RR^_WEB_W*?5HR=/G@SI;E@*@'(=UL9POQWR3;\T M5VOK&CN$:[CT27]WU-\?^97&I`NMR@;3ZFIH#/)DM[^[U]_[WB^^DO7H8/^[ MO8,GX2%93E51RX!4[<$I" M'"&3#FTV4W/Y04T$,>VP7BW4LQVKYXL"`=.UF5&39SLM%7W$=?=@=#"XMOF. M&#(XE(^JK-5U+F6@09")`)43[PWAY^K>= MYP#2H7TT;!]K05DU1;T)%^`2"\6ANEX4.M,UXR)R#>M8(T$F#E\YA3LM)Y69 M2Z377SJ^UG;G>5+(J7"T?D#=O_&T)[*P@,L&A!:P5PSR'Z@H MP."[PP^G\SUOT@5M*4>9K,$W.9N[TE*7K/L?/IN";C-W2[`2-]] MDX/O'[]X?W:>[H`@6L"O29]>PG4CBU,`%[9>%6`%8G]^;RBY`\AM[ M/I-&O2RDM>C?DN6F6HJ%T7-I5AO7X5Q^OL57AF=:E_GE%YO<)9#_CEDX]+Q- M^!O?P'/PO^'OH^%]!"&(S@MI7@+U]7&9@V82#1!WT>(?E<2P_%-D)@))^-V^ M6T#L%0JZ'C?(45A^KLR5SM1H;SPZ409!_;*VJ[2>@)]"KT'/DC>`\,SCH M`F+[`U#\P>[NWF/"^JZH!-P=SU]?2XPU'X"/>-`:3]E!%@[T(4F`#N??N?$6 MM-Y)@Q)R]3#6X6(&PNX@"_A3`R1\2M25F*EB(595P\I@E*AG:!1M+:H)++Q2 M%@45_J(;*+V[E"`_8J*0"V4^!%8:I>?C!O)PYJ['9B". M"^!,,YTQR6`2\>SP=*V8RQ7L+F9ZBL<*0``197IB[+-UP,6Z4UV@$EH&PD\O MJZ;(X?G##@W8E/$MRO`3R-L'.&&&_P=VFBE9?_K);C]Y]\/?(B__`/79'3V( M[\%<*G(]I^].=IY_]V2W`T_>]":,]C\;1J.]QUM1VE]'Z0$\WHFS*<+'+VQ; MV:S$B&QQ<@_MWOO7VM[@>-"T+>#_FER&&#1"F;DNR5I]BOB\!0G8'_4$W-^[(ZH;^P?Z.GWV!RE34@U["#IN<& M*:GK%+4TKY<$7LK%IUHV+C@PY@%^\-F,]^C;W:>/-ETCNL4HO<&\!P!D0!?8 M&,^R*UDT*B1<+7._89JW4-22C+KN;[Y32\23>H!GY6O()B$.59]B-Y][(&T: M.=$&$DTB";!V:1ED+.Z0[H!/-_*=:KSW.=5X]_&WFSAW*')4R'GXH(L$RRB4 MBH(2"SC\#)/"P%B,IWHL/A!-@5[U1%[!J9859M.@?%),&DC:,["D90['XL]F MT>(-J:>M*[,:"+8DE;&8%'->*>22:Q8@MPL)AQL_J'FC$C"T5AI=8'SGRP>H M6[`19-=Q80-P<1!\'6+20*[OU/A&;G;Q_*RD(/S,O`$,_F#L7JPW;L*$DDNT9P0\S[=>_P^SGPK@2TW*E-/JD)7%XTI*U#'ARC3>IC"`V6\ MMFRU'9>'U7OP$.`OC"RMS)RCLK7M"=N`UY!4,YAKBWUKN+C$(IVN,<7B9,RJ MHH`C5>`L=:U!1!^!B8X<*];7(/NZ:NM;X%X!@A4+3]8W`W'LRU+AHJ@=L0*] M-V5XOESHUV[@3`CA2M89%`*_5%X#:H0\T>QKBB!],P6R""LE+J+D4V99U90U M%3NM\NQ8SC3R`YY`L70%/,6/LGONJ`Y6QDMB*$Z.@2A0;>H&=E<9(RT8=$M( MAZD*U:/_9__P@'=*P`3H;=D&,A)T3NV%7R'1N&'W%D-M+Q]"12'(S_0"#A,! M6MZ^!9UL]P;R!`!\]S;G%BTTRI=F,VVR9LXS.2Z$R\A4+HRZHEIP**>;:@YR M.M/JBHKU&*^T(?&T`@)0%WQMI,!B^9QP':^Z>P�&N@*Z'V88,.+!4NL$Z( M5F@1F&Z0Z=O;%:A\MIE#W*U_43D7B4A+?R$NJN1(GO_SBRR\"6T,G"_\8XQ\DS_CH M#ZH$,U4,!#TZ]HNXO25>0:8#A&5$.R*BIZ500$(UAXM34RWKF3.SYE(A<\$H MU^P;L!EE$$&RV`7PNX"KN'@!Q@N``DOI$-CP2N#FE+TT&'$,#-@H:G/\HL*@XHZ6F%I,(`6$!0N" MIO@,]]LFLG<_G[=@XZ>0DO5?R.S2=<0H!?`7SEMVT%FVQS>(SN^]4>#/@S@1 MBM96F6Y'.N=^IW&[DZ2=W(66\1"I3])CM<#%HN@1@4"?,L4*2<[5N/8JB!AH M`#D#FXF,P4FMO"G`Z1GX-_/'&W+.6]2B$PF@31$2K>9/U!+CAT!_<-E+IX^- MY98HA,\&<]]Q16)<(ZTK5"\&"K;(*&D]FHNJQEDQ[(!6K0KC\M8BL&S$!-DU M\24,+>B2GH`:4-C/%WO.@0$K[!$+*JJ<):&G[+(7)3* M0O4G2(;=@^[Z&0^ M*T"YO,X9]MMX!Q,$S&YS]:\&I0HD)J-4)MI-^W1X(-YN%XQ6#A-6@+;S8:`Z M8^A44O0"7&G(0?/"T%1C96SDM+K1$1XBVA9WZB"/(;WO*14F-88 MS;4*"/R,K`R$*-B+7BIY278&=W:BCQ9`EZ[.004*H/4].%"-25:!,W8%9_+. M84)0(/%H0!UY8A?0">+?BZ4G9@R+E]-QC+8*Q!PB'&>M$LZ5SB<$,\=Y)855 M'">6:DIA+BB4YE[YO9R5`#FK7,)7I_%FE368$J:!)N'$Q]B`-@JE^2#F(VDEC4KI"99_L+-NR=7U5QH+*'$! M**K^_+,I+QF'I+E"I'(V1\=,XVM9B M'39^&/$#C[!(Y'C/Y3$P:T"FLA%;R+A9RY+KE&V;,MUDQ5T(O&&"/:J`$.LC MSDO**\WH\31AC`*>9=6@CG%HRZ5ZE^--F0R')OCX.-J-C'ELH^-X9A7BJE;\ MZ2`="!9^/_V2LW\$4P&@)4CJ8A999W&#<7Y#&H/[22P8/?[*HUL"%2Z6!'"1E.(<*P_FPD&';280GE1+GURVR,0( M;QAFMKD:HU7O`'!VL6*NI)8,#2M/V3+>8,-PMG>L2@7Y"X94CKJU\L0-8O2R M*C-Z$X."-12;;JE)UY&=Y4*\Y6(;#LKB2;L*>64I.6-LXLZ/UX(H#%P+:-ND MR%?O*4W>'D=OF@R2"N8;R[NOXV0M%:&6@[&`CY$2`;+IL#!#'6]8Y%:I;RO& MQ+$_)IT6@D8I&T';W05@0[ MZ:L`G6/-+4SW4A[EK1/-8W\Q[`6V@K!#@+R(:R_WJWGBD;VKROXK32\L3USW M\!:[1Y6]$A[+_6,J;WM3OK(T5R'UT#Q4'E<_\-S1XA0X5H2=+>L<*S6;[%P6 MA0K#X4GPS:Y7QLTPI\M1:!5A-HA;:T1MGE(;1;R;X>9&;N,,T!2L#$^L!P/, M!3$.+6)UE:XRD1BT+<&)@LHH$+#1% M;I@2H-L8-H7S.(<4NOFD*8%$J,>)=-\FU$$%7.;UIU`_H%!W24;'T:_)1GW* M(NN$LC(KN`"1=_/IN\#X3AD;&`V_%PC'L0> M$U@P"/D+SA$J[%R^>?-RXX36,@@\I-Y:WHRE+=]+],Z/6AON]QCK9QP,4$L# MDQ5\H]*%'F[$F[IGD.65M6JS2:8'+!DV_T_0-G-:7=&_:U5WQU<5LY3>0N4F M)V1QR(VN0G]2U=]6T>S(TT&V--_;%AAMKUX`<1H;L MM7N=+9BN\8"?L,9L.GZI'U*'-17&*8< M%["@)!'H'R=5:KC3/TY,05M@>!0";SU041NC%ZV98_$8"SVA#4FY/=?/X[(S MI;J%CX4C#&PS[J/940D6X65D*I5#J`L.-;\!(]?Y=G._%-L"R&(5"LC?;&F9 MCY50FB*X"">6A3@*3R<[(WF)%V'^P++`H;AKR(]E$.R M%GV>N'[ECZZU>4P[)L=WV M$I[T35H(60QQ0)D5'Z/S,2@0E0E=)VI,D./*@&L0:,G0EK&P/56&<1R6 M7@*C8E&2T8%47]$XF!PK;$Y!J)9D=EV6[2(Q9[)8_8+E,/).B@OMOI&Y3.W/ M-H,CXFGF(`RNO`7>O,4EPA['F5P=6./#'E?Z@U9I2[3 MF<%UN2>U]$ZQP--?1JW[3I=SD;H\Z\'W0K^$%-GAKS%W8FE4/"$6H4"%ZU5[ M!FT`U?8,>V["?%-?:01;NED0A+/66<(^<"07M'G26(@=$(\-N"%-/Q#6$]S8 MI(B+SP8@A."?!Q`V:I34+19R`=&$T^KU^LN:`8U*![%63,A+Q@49"A?+Z#AY MWBVN%]>R8TI7K?[L[@5B5%#N*+`&EQG+H6N:KI[=IP>F7H ME.$R32[-JS.)),]@T6@>6IO"9\98FE*R4-^2GI.]O\'@[6.&K7R\4=::I@K>RS/:/92'K"Z'[:'/G$]S9^ZWQ' M?)Z$YY/RG>1DNMD>/F%W4E4UF)"-K]O1QRHG[N8;^)%\TY+Z@7`^_JN66+&X MX5N95-"@[XCZ#_#14R`F"53*&RJ3?BKS+^$%8KY*WC.\5OQS,2[\5S/7L3XV M*7AI,@\$_KP%9;=BB'K4]Q#]XZB$:RBXC:IG.YZCA'-EP)(^VQFMXW@?TOP'7\U*\J^Q_/;WM_ M6!Q/P-)"4*D$?R[!?]Y&)%]-\.\\M45V;_YGTL8M>6STX^>+\O;;1?BU(8P, MR*2&#WG4_C--?M2WXR,DH@'-AX`Y^K9##S-K0N*BHB+"S=2%%R?5=89([0UV M=\57Z`9UQQ>=H@BF?1(<>D&]C[&I+GEZ/!"1O!['&2`7V]"T/O(&,,SRX"/@ MDM&B15\RJ9+PS/)W2\"&8?Z`KZ[UQ&AOW!_1KD_79B\#$)X9XG)R>S6@L",S M<.S&A0%V\WLJ.Y`-B`V_CKDA?A6Q4&&NQB1BX2(Y`D>GG?M),O>!+++BUQV-J%(TF M#(KVPH)_KZ6V)OE5K:3&EU_DXBU:^B&\:/@ M],5C^./_`%!+`P04````"``&6YT^=4BW[9(#``#Z$0``&P`<`'9A=#$T,S`L``00E#@``!#D! M``#-6%UOVC`4?9^T_W"7/8=\P+J!8!-=6ZE2&1-TVMXFDUR"5<=&ME-`U?[[ M[)#00IL65M"`!P@^]]QS/VQ?T?XR3QG.PX7SY?/;-^UWKOOK='`%L8BR%+F&2"+1&,.,Z@F1HMB<2C&>D8DEOXA\&OV'00-URT\G!)E&,U:3A'6@M7*U\*; MX"UH>$'3"_T@@&;K0]BJ-Z';6P%[)IHQ72%#OT2&]59X`M\+)*/\9F2\@>6Z*!1_Q@VFJ[-IM$&I;E M_8"JFP'J3/)AEJ9$+ARPE#\&EROEA"?(!+D99SQ6M4BDGD5X3UAZ^]$TG)@F MFP@6H[Q`5%WKOT]N>AG3=*BEZ:)D<6F:/L4+(VEKP;O2[BF:+N<989:R/T7C MQ>S4\_D4N=I?9*]QL:[?NB&GS9VRAEJ0MD9T>1Q()MD&UOEH6FA-B(LREA^6%P9;6NJ<:Z1QQB7 MNBW;/^S+@I)J:VVBLB]PX:R\"%RP1M[2"@HSN/O!&1DAP_C/P<3NNB?7([%' M=AZ)/;/CC*']>L\(EO)@TE^SZ1Z%$6Z&L60'"X<5/Y0.EH>_"8J):"T09J\= M(5_3YU+^_H:Z]-0W=WU7*=2JY,Q[HN-48+S#*C,5_4FH\=>7`Z3I*),*;0M7 MRMS&8*7Y08MTY;I\(J.2V7Q=ZX_']W:!$3=29;-I1K3TGXL15J9O\*GV$ZY MD*;-.T[#3(&9,HK$U'HCS($9TF2BS83HP%12(:E>Y`\'KL^+;?-LSQQ5_I]: M+?(='DV^^WJ"\L6D5Z+^2^:?3WNEUB+W)T>3^S.JM*2C+$\:CX*@BA8(2[:TFXF@KU\O2ZIG>'^?VY')12&^6H357$A,HD;@S;2T*P MC'!WSO):JD)Q>_47@7GX"U!+`P04````"``&6YT^JJ^S+S@*``#JH```&P`< M`'9A=#$T,S`L` M`00E#@``!#D!``#M75MOX[82?B_0_Z"ZSXI\R?8T07**W!8-FJR#)$5[GA:T M1=ML)-(@J<3!XOSWDK+DBR3JX@M#K;6[P";2D/SXD9H92C/DV6\SW[->(66( MX/-6YZC=LB`>$A?A\7DK8#9@0X1:%N,`N\`C&)ZW,&G]]M\??SC[R;;_OGR\ MLUPR#'R(N36D$'#H6F^(3ZQ+\H:A]0S&8TBM4.X&@X$G?AF\1S>?R(B_`0KC M]JU.^TC^[72.;3MJX1(P4:.X%U;1/>HL[EQ%K1%\:AT[W;;XU^E8)Z?=WFGW M%^OA?B%X+WHS0H62'L(O`]&:)1C![+PUX7QZZCAO;V]'LP'UC@@=BX+MGA,+ MMN:2IS.&UJ3?>K%LQ_G[_NYI.($^L!&6'`Z7I60U6>4Z)R#A&A;@LI83\S8[%;'G)[G3M7N=HQMP%+B'C\D4SJQ5\%4K=;936\N,`Z`)ZOL3Z%H13Q`-[,IQ&QW/=NFB1WU,FKO M9@9DF5UUK&*M%?NR.I,9'!Z-R:M#J50";?&_[%_;;G?M[J]A#Q\1>WF$/*#X M&G*`O&O`0;HCR=7@A07VR5XX0+8/_0&D%9E;+[HCQ;5\-I\"WP?TO;1RRB@981(CBS"25OE. M`%B#!F<<8A>Z,3A9TP8-154B+DL+/27_6+9U'7MM#]_]Q4"ZP>&:X!]*0_0>@VFI+2KP^4L"D<\H`]2]\NKBUL_;R5)>!L`HB# M&<'$1Y#-IUW`'.&:C@&8RMEWXF#QF(6_N1#).7ABMSN16_.SN/0UYNL6CPCU M0S\JOG0Q0RP!NU2)13^6D^""KO=(3.BXYFAN;ZB0YW6,*/&S.8T:)26A$RI< MH_-6M_W!HW$=*7$E^==K6G[G7*?-R2K1%>9-DOD8=\V(_BKHU4%V;`]WRO8< M_,:,J\S&\OK7)ZE\>YU/Q[W[R#2M\9DK68<9G-N!B-CC3:=R>9.RM((7`R:< M_R%/6Y4LF3U1'#I*"06LABAYS-+0*_3-/:73H4<8=,];G`9P>9%@+CR'&P_* M`1(.#AS+'S1R_CL$\M5/'N4+D7U-ZG7_KRKW&4"WUP/_A'#CEZADL>T MA)DTIG'J4P&+MA\HD@[MLW@F+D75+SETID4-YS4-."+XE_T3'+UO44[2Y'TS MJ4RBC/C[51M_7P"5;^%>8N5$5DN:R;$:;TRO!CN6 M\T&D:&)7*&KF`%3H0#PB^BQC]"6GR,%(BIG)M`+L8E6AF]4*;D=.B3IPG>.$ M=#78RG4P?R$^>80N]$,]5Z1?JI2MPU#D]R`>%`TF]8%0/B(>(L\".GF%5*ED MU))F$J[&&].KP:2F0.3,\3S9FE"<,85L.$3=`UBS)NFCQAE)J9*SEPV\R:D!O-T">B5 M6-WS"^P^0!I^T\)#&+HCRGE:IHR9A)=!'I.OP6RM8"@SN0O$S:2\`/3B(\B" M[3-G/0QH+Z%!56-:H_:BN"$9B1S&#*AAF6:,-J/L2=*3>0&_9(7]A,!/`:BO8I=%>`AK#X M)*6VRA8R?U3R\6N,NUN\W!68)8+EA8QU:YZPP9SGXD[%WVAQ[;=)ZDJY^=VD MFS^OW9+BUJ)^*VZ@HW;[Q3NAT!YTBTLN7 M-'H0RG=#HPJ2ZX08=]X8*`6-IER)6GNP?"ZYM>,UAU(-'Y+$X_(70'*5*Q9@ MR!\$E(6Z+8_B,F6,IKQ,!S1&V'^!O,S,5H@9S;0"\ES$ MV),[CO=N0DP^<0&%B=V;YA5:LD;K6_3@L<:A:QRZQJ%K'+K&H6NV$_I@)VY7 M6N-9M)2C,^:W#0P.3X,T10\_0(J(>X-=X3OD49N0,YSC!-IM5<:V9-]@X-3?\KNR!9.Y4QGU#R4V@W/HSRJXT# MW7KKHEU1?3,:S3=6*^`Z(60R`R4&C0W^WE&KEL0`UJVD('\EH6N<1<@\W)J'9;FFY#LOJR-YN\V]WF MW6I004W>;4'>K8YE8I-WJRWNW.A\K5V;W9P>?"#C==D`NW2"2M$^V%H,\*%G MOVFPE4WV6]7L-PW&\\"SW_1MZ'XPV6\Z4J^:]+>"]#<--O-PT]]T)R5_@6_2 M:;T$X<+WAG'D`PZ+=+2RE-'4E^M"/!*?3%`U\KMH?_0,J8\PR';--ZK$Z'': MJ$<:OQT;FH:TI_?P*?@:;7$-#ZS9(#GFXSXHU?_,F@WH_M@/2P>80Z==)1]$ M#EWUY66)B(G4$2P7'B\.F<@O50=S5[HS&A=!]3Q+J>)D*GVZ4G.XTMXY_YA` MB^_\M"4=QX(=_&E+.H\%6SPV5P0/PX011;1*@;S99*M0:SQ#[+L\WDK3L6"' M=[R5IFSE.\+@/<&IE+?T;7-I7`&I\7"P<``)=N6+/89&"+I/'/`@XU6S6M)< M3K/Q:CS^:PZ"WV*Y>8E[#:>$(5'KN[C`$0\4$4ME"IE,>@'T](%@.\XN>`", MKQQ*5BZ[0%G(0*;+0H^9UF#?OI]3!JM-INK'#NI8--?\U,&-AJ#L,80ZV>_C M\`5AG]Y!EF%3U9+UXSS1@8AN#=]K5S!(T-<$LM`$N4C4#C\'0HEFY>*6*E6_ M8LX<6>\`,"A^^1=02P,$%`````@`!EN=/A?13,9T#```>9(``!L` M'`!V870Q-#,W,C0Y+3(P,3$P-#$T7VQA8BYX;6Q55`D``QO8NDT;V+I-=7@+ M``$$)0X```0Y`0``U5U=;^.X%7TOT/_`NBTP`\2Q%6>ZFV!F%\XD@P9-)D&2 MQ6XQ*`:T13OJR)0AR8GS[TM2DB6+GW),,MUYV%@ZESI7/)>\%$GIXZ_K10R> M4)I%"?[4"PZ'/8#P-`DC//_46V5]F$VCJ`>R'.(0Q@E&GWHXZ?WZRY__]/$O M_?[%.DD8)#0,ZQ(HX.@\V9S^75 M$GP*C@?!R>!H&`3@Y/3#/TY'0S"^W@"OB7.S:(,\&E;(H]'IT4_@MD3&E1OD M!N'L4^\QSY>G@\'S\_/A>I+&ATDZ)X;#T:`"]@KDZ3J+MM#/HPH;#/ZXOKJ? M/J(%[$>8WM)I;46+$=D%)RN0<`?$R3&-VA&6`$3O.7):G_+%HL8TJ<'7M,T4S,(D[3`;4? M8#2G54.O\'.?7*2XPE_+PSU`0;_=76Y*826LL@&1WQS"95%(3,4UV-@,"G[L M*%7<%D-4RK+B2`M0W*FB?'J'6:&TV&2Z56!,;W>2;OO\!//@>/33T?%)GRIH M>!P<,[_JX]_OA^2_4?#A>'2-%A.T*8#1;I8@0`XV9"AXG&XS@NFT*HS\J7&P M1`RF"5'<,N^S$BOS69HL-%3*"R=*V/=X$K=9;U%.49:LTBGJ5"M-IOJ[5G`@ M$46PM`%#N/_;?>^7,9X3+C?P![A>Q7G4O\]3HJ+Y"[@D3=T"@2\K''XLKK5? M^F$R72T0SEFL.G'CL.V'B9*;<9>AZ>$\>1J0X"6J'I+_4W4/^\.C_M'/3-]I M^OW^D;33CTD M6E$QZ8\G28:N]DQX1J!.U'H-U]%BM;B',]8C'.EO\K=.@[VXJ[%*-G5S;8DRW(`*P@4)8&R M*)II;@H#[V`&(%@BX@)IT@DJF8&J=,"*?^\G_JS>BG=Q`L/WJCOR=WHCDNI& M+(4WPF9@GR-RZ12%#?^9M_DCEW&9&OD*6A-7N!#MXHK]@-2X(--<9=827ROD M_`;8?ETKXJH10G"1K'`."!*A!0K=Q-`=N=IB2?-3TG53;^H#?.PHPC$48 MC(8@A"\912S+KA5`'!+SOP4?:)H,9DG*K(KR,["$44@?G#U'J;.N%A,GZ%B6 M9OCT9HRS#.69J'^5(3UTJFK2S9[4C+35[E-*EN]8*B@;]8E#B!E[ZR]W]<6) MF&_(K8(Y258OUDN$,]4##`74N9RUM&L]&].V*&@5W;8*-EA0@3T]RNA">HSQ M"L;LL1O@'7"BY/.(L(LF*]HMC'%XC](G,OH*CB:!KIDVMW2N\ZY.U;+?U2F+ M4=#!F;:^FJ8L(2B-P3MBW@_>"QM,-V'BVBL[W0`=MU7AJHH5*=!]%Z"FW.@` MS"C;;/ZE5+G&GR(W[:8JF['3*>1)#F-%E["C(YXZL#VQM1)Q)L'V)N+,),2\ M1I=1#9N$E(^(,B+_0,OP'$P=B+Z!9)!TG+_#B#Z03.]0M)BLTHP-K%319F+C M//K,':FCL;LC%J/3R(&VCNA3H\(*)"G8LO,1I*_T85!*WX$CVC!VXHJ5D/Z* M)87:UW\ MQV9YY8LUI.LA_XU@.@RDZ6P+Y2NA%9+E4EHE6?M);9ND)*T%)>Z@6&%X232*.#R0PD)BG@X"2SV_)<)Z#2CZS94;866`IIH=: MH>5I0FMO=/>T)8(F=FR1,`XULZ^F1MXV2ABXTMHSH;#PL7U"2XFH"&S=L(V^[. M-)"^N]L]U(*;O9>W:9(MT31?90]T`ST_I.,`SL=R$HKU($Y#T>+HC:?&:7*# MV&D(5!++X3K!R2(B.5A[43VA>3+`"2Y^A2BB&^-/^L.@VAA/#GT_+Y5[B9FZ MJ'ZK0^-UU)X",K)P*X,.3C36[W7SP:).]-2Y=6WE:=(6$P#7#GO0SGFR@%&[ MV1,!_"ECFR(O!#%#!_6^(29O'MQLSXJR'W".-^,Y:4:&,/EI:H MQ9H5$N0V\1#0H$"]IO7?I7[_B2!]ZXZJ>C<0C[7;HBFJ7`E-)W5;TU-4+?A6 MPE[32G=89SSY+VDPHBX7YEL81D8TFQAJ3%^A60XZ8K*XBORKU-HP5, M7Q[0.C\C1?]0U#(/]5?=,MJ">M?1=B$``5VI$@Y`B0;?*!XP`S>J*!_`2@.^ M?=[7=)LTV-4$+=8T1TPV3^4VS,NK?H4I79'TA!1AKH#ZJF8Y;:[&];3M5[Z0 MKDP'&[#[*&^]]^@SE+PV08;S_1*L%F'I.[`DA"T*04I4]P8L4$(+,7B1`7NP MI&@?-'#?HA#3EVI#3=^=1#C:6J5\8R:.LL3VMF)I6R%'^M]O+FTO3$G;S!#E M9/6;S7VT&L5"9SJ1P%'7M2`=3)V+IK-;M8IV=LNBK+JXT^W]`$[;G^U58+IA M21OF>3&@;I"BIFL_7>5H:I;6^1FZE!?O,()16'A61(?QC+$3SG32:7132<;C M*&>;_>]1_E@O#]?U5%UL/6O*Q#&9NKHXYDQG&H>T.P%^W]X)X+2_XA902;LL M.=+]L@<-Z<;Z!T/2%K6B(&NP5-!M#\9Q5;0X*JQ_12A:%'/B+E6A:C%$NG#^ M"*Y\![ZT?>``[I^OB"DVGJBH*=I\AL)1XYZ:5-\8CY&(>-U=-L="$-;!,;Y](P=Z2627='+$K&R(&V M?(@1>X=]SK;.-7EB>'K^#50MT5^4A!ZDJ^#ZF_3E.J@``*"!!3J41(7.(_RESLTI^\AACC_"A$ M+F:S8I.`1@PMG#\U"`GSX;UYJ MIXRW3%RNNZ5/OZ^2#%TGF$OY^=->IALX>MNS#%)ZEB<7FK2$=1;,(A?$Y6B991$I](0?(^'0E^;BMB9$GH1BYTM9,)U>LRT?G@D1).2CM0&T( M&I8N9=68Q:#O?CI/4,;\"B-2.OJRR@E/Y923PLKGS)/6&>$$E+$S-A-3,R=4 MTU'L+5[4L!1;80H*6Y?JTG^EA*;6-[,'E"XB+$ER=RKD#7[@1^IJER_^:%VU MJ,S=7.SP32!0O+.3%77`1EWT[;6-XMQ_0_$K>J:;G3'_P!02P,$%`````@`!EN=/A#KAD0!"@``<:@``!L`'`!V870Q-#,W,C0Y M+3(P,3$P-#$T7W!R92YX;6Q55`D``QO8NDT;V+I-=7@+``$$)0X```0Y`0`` M[5UM<^.F%O[>F?X'U?WLV+*SMTTFN1WG9:>9)IM,DDY[/^U@"=LT$GA`2IS9 MN?^]($M.C(1>'*T$B78_[%HZP,-SX'!`<#CZ;>5[UB.D#!%\W+/WACT+8H>X M",^/>R'K`^8@U+-8`+`+/(+A<0^3WF___?&'HY_Z_;]/;B\MESBA#W%@.12" M`+K6$PH6U@EYPM"Z!_,YI%8D=X[!U.,_IL_QRSLR"YX`A4GYECW<$W]M>[_? MCTLX`8SGR-]%68SV[,V;T[@T@@^M_8%],!@-;=LZ./PT.AP?6).KC>`5K\T, M;21'PT1R-#X<_6+=Q)(>P@]37IK%&<'LN+<(@N7A8/#T]+2WFE)OC]`Y3S@< M#Q+!WEKR<,70EO33.)&U!W]?7=XY"^B#/L*"0^O(4S*P)P&#PO MN<(9\I>>`!X]6U`X.^X]@L#>'_\RVC_H"S:'^_:^R.7G6\0>;F$04GP7^CZ@ MSSU+9/GG[<4&.3'<+WL@6Q',A_0PAFXCR MK\'#5>@%Z"Z@O!7-GR]XH_?A9PZI-."JV=94FPG&(?!$EM=+R$OA/?5\M828 MU5>SMQ114RWC\LY70*2IJV(5.`4F%MAOQ?4;]A?SCJ MCWZ5>LH9#`#RSD``TA61,Y.ZRNND,=HEA8Q;X\A:7')P6[#A*H#8A6X"7&2W M0\>,LT2!2,VK)?Y8?>LL&0GZED@T6*>RXF36MS^Q!Z;0@^[_U]:&H_6(LP70 M$W:.T+<02^G7&TK8$CI!R.[%F)/D%I5^W$N]'>R")@`K@HF/(%M;V9`-^'@Y M!V`IC.W!`!.\_N5")&SM07]HQ[;V9_[H:T+6!9X1ZD?J2AY-5HA)F`NE-W5X MK?\)W:X/H$Z2+__OEO+3HT4L,5AR,X>#OK-`WJ;=S"CQ,XB,RR(E\!+*[>9Q M;\0=CI!Q&&0I9(#7LC;.B`\05I"?O&R#ZY+-Y37W"=RZJ%;9ZI?G7^^$)1C; MG_;'5]"?0BH1F2NI.:NYV&.*]],4\\K,(*70O5Q3H`0;(8UX$HD0H2AXYA[Y MCOVAO*U\,>^3*>.#H!-(2LL2T,S:9$%4JZ0Q0G^'0$RDE'QNWK=!IUKOVXQN M0-9LLCW]AZL=/<)L/M.O]:,SC;&UYKF!H:K`Y("N`3S;0V@L;+GKD.B2RC'^,*H)O9 M2\&FM"<_-#;PJ3JLWG"1I`=4:;;GXT3;X49C?E MU%O]:$U!C+DP$T-,%H,$$NS>01E_DL`,C;R:[W99)H!_Q95`G2FA^>'L% MJ;"Q%\CJ1WT!X,U'&17K1P-Y>\UWVG13=7-97%Z\(T?L/8QVY(C-AV[H0?'? MEQPMD66W!:?;@M-MP>FVX'1;<%K?@B,;^^Q].$HIS>R.$F==&GJ$=$H8O&Q> M45=@A?S0OP,>9,*%F\,+?\FAN-?X)J3.`C#(KCF\ZQFO#O?C;BARY*%OQSS: M4')!NQ3*WK$V:GMH6%,XB]&^(B"J;K!(6=Y2*?168U.HMYQB24VG1O)T:IV[)<2M3?Y64D`WN>HF5]WD MJIM<=9.KUB=7:>.?/;W*D=/,]N0@-=\%^P*#I%K"19DP!@-YL%#(M*&FPM8E M%*;`F[,/U11M<4?R+X#$%(`[D\B?AI1!85R4JBN30%L]E@&?LWO;%*46]C^C M.E].S\OXN&:*CJ(I=Z&BE%+::DN)N+'YZ7=3V1GBU473,*(:NW>0/B('VJ.I M+2;L2AV63Z:M4LM7P7S_Y0I@,(]&A5RMJL6TU:(:*5():69U5##- M][&V:_8_".C0SM51(M*&AO*;5%I1"5;S/Y%GU&M+Z$=X-LZ:X\35P_`EIS2+FW4C[AO="-OF]X0#YI*KW3CV()8-U!Y.JRV-&M#<+A4AOL;1'] MF,[&67=0N;H(/Y_-UI$Q[+8!_DHQ[(--BK3[2R32#G?6/=#+-?`?=E'L+JRI*FZ_* M9E]=6)7V[_EIN<2FE]2E9A,O*-[UDI_*C'&_='7>P0S'R(L/*[;245PZA2F]$Y/.E\!;.]^STBO!+OB`P=#,P3=.TY/ M**_\J\7TY#8;:WLW>*XQ!1=81.9QS^"2,,1S?>8/`A2$6=OBRJ30E?P"V(5W M>M9\H.4&L.#5-:/E#K0H$^E'>EGD">\&3^+?S7W$U9IHQ3N*6YCAFWU%<75M ME+VVN$5%B%J<$<@B>^PBGCO\''(;DCH<72J)<6K)J4O-@47JW#HC3G]?S^XA M]1'.FN/NE(.V7_MWJDU[1^.W=MY]@4^B49Z`Z(S..?=O?(XU=WNA,HFV"BH' M/]'(IS;-W36.OK->TTO(9"VHQ8PS:Q+^F'HE\YDQ2H\&(N`L``00E#@``!#D!``#M6%M/(S<4?J_4_^#. M<^>69+M-E.P*%JB0H$3`2ONVKD4Z-;B@'IQ6D_[B1I2OJ#=\D@^8TA3,C2D'<;Q8+*)%-Y)JAD))&G\Y/[MRN*`&#I83 MQ=D#N-WQ`MV8"6VHR,#C.1,W+7![/,&05^IW\(TW:;_?C]UI0`Q5,S!_T@)T M23-8P:F8`9?T9EJ)7$>9+%S@8=(+TYXW<$M-VNN^[_3Z+Q0##I;:$ZF*(YC2 MBIM1\%=%N4MQ0*@QBDTJ`P\`E=B`U(;QS3%W):Q3[1)1Z=@?V(3TPR0-NVF` M_!`RI$)(0PV^*6YM=\J2B:ELEKAA$S)0DL,UJB#VX?/E:4MD%A%?,GUS":92 MX@@,9?R(&N27Y:/@T9.5-6\OARD3S/F5]!+[0T)RQ'3&I:X4X,+JB6M%I-9$ MK"IR?UQG4_\]C+=5;5NIL!`NQ`?W7"K0*.9R<88;C70#:9/,*,\J_@V":\^> MEFMV??Z_DY;C90E"P_&2%B6'`PNZH#?G^$*Q*Z.P]F=WI_@A*N`$Y6J^]A-I M)=*6HR/2UGM><4MCHYXT^LG]M:)"EQ*S\$;@+H$'0F#5VU1?E(#9QQNCR:!^ M$9O?(?\Y]W,>% M=1+V<\'+[>V"'_AR8)NSWE/F#5U*(0OD*]H8%6>4EDXZ%E+4*]07KO7MX8N& M+)K)VU@I._$F8=().[\_Z<]C(O@W7(ONEX;'YMYOS05PLU;X5#*:2=[=_^NZ M_'IEK_9N^J[7/8=B`BIP/F/SMK-?E[DW,\AE09DX-5#8NQ%]KR8:*ZFRGO^A M9%6.`O??D@%#"&IE'+]=MLZ,JFSIN3,L22;S:ZDCJOV!T]P$/@!08WQ;9E*SN0U-E3R%M0!-]M1M6/^DV%9 M(L94FS&HJ52%_78]QM63D!\8U#"NJQ$?_P%02P$"'@,4````"``&6YT^1OU1 MQE(8``#<7```%P`8```````!````I($`````=F%T,30S-S(T.2TR,#$Q,#0Q M-"YX;6Q55`4``QO8NDUU>`L``00E#@``!#D!``!02P$"'@,4````"``&6YT^ M=4BW[9(#``#Z$0``&P`8```````!````I(&C&```=F%T,30S-S(T.2TR,#$Q M,#0Q-%]C86PN>&UL550%``,;V+I-=7@+``$$)0X```0Y`0``4$L!`AX#%``` M``@`!EN=/JJOLR\X"@``ZJ```!L`&````````0```*2!BAP``'9A=#$T,S`Q0````(``9;G3X7T4S&=`P``'F2```;`!@```````$```"D@1`L``00E#@`` M!#D!``!02P$"'@,4````"``&6YT^$.N&1`$*``!QJ```&P`8```````!```` MI('@,P``=F%T,30S-S(T.2TR,#$Q,#0Q-%]P&UL550%``,;V+I-=7@+ M``$$)0X```0Y`0``4$L!`AX#%`````@`!EN=/F,(/;1?!```%14``!<`&``` M`````0```*2!-CX``'9A=#$T,S'-D550%``,;V+I- E=7@+``$$)0X```0Y`0``4$L%!@`````&``8`/@(``.9"```````` ` end XML 10 R5.xml IDEA: Risk/Return Detail Data 2.2.0.25truefalse040000 - Disclosure - Risk/Return Detail Data {Elements}truetruefalse1falsefalsefalsefalse4/15/2010 - 4/14/2011 TwelveMonthsEnded_14Apr2011http://www.sec.gov/CIK0001437249duration2010-04-15T00:00:002011-04-14T00:00:00PureStandardhttp://www.xbrl.org/2003/instancepurexbrli0USDStandardhttp://www.xbrl.org/2003/iso4217USDiso421702true0rr_RiskReturnAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseRisk/Return:3false0dei_DocumentTypedeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00485BPOSfalsefalsefalsefalsefalseOtherus-types:SECReportItemTypenaThe type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type should be limited to the same value as the supporting SEC submission type. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, NCSR, N-Q, and Other.No authoritative reference available.falsefalseDocument Type4false0dei_DocumentPeriodEndDatedeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002011-04-18falsefalsetruefalsefalseOtherxbrli:dateItemTypedateThe end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements this will be the filing date. The format of the date is CCYY-MM-DD.No authoritative reference available.falsefalseDocument Period End Date5false0dei_EntityRegistrantNamedeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00VALUED ADVISERS TRUSTfalsefalsefalsefalsefalseOtherxbrli:normalizedStringItemTypenormalizedstringThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 falsefalseRegistrant Name6false0dei_EntityCentralIndexKeydeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse000001437249falsefalsefalsefalsefalseOtherus-types:centralIndexKeyItemTypenaA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 falsefalseCentral Index Key7false0dei_AmendmentFlagdeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalsefalseOtherxbrli:booleanItemTypenaIf the value is true, then the document as an amendment to previously-filed/accepted document.No authoritative reference available.falsefalseAmendment Flag8false0dei_DocumentCreationDatedeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002011-04-18falsefalsetruefalsefalseOtherxbrli:dateItemTypedateThe date the document was made available and submitted, in CCYY-MM-DD format. The date of submission, date of acceptance by the recipient, and the document effective date are all potentially different.No authoritative reference available.falsefalseDocument Creation Date9false0dei_DocumentEffectiveDatedeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002011-04-18falsefalsetruefalsefalseOtherxbrli:dateItemTypedateThe date when a document, upon receipt and acceptance, becomes officially effective, in CCYY-MM-DD format. Usually it is a system-assigned date time value, but it may be declared by the submitter in some cases.No authoritative reference available.falsefalseDocument Effective Date10false0rr_ProspectusDaterrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002011-04-14falsefalsetruefalsefalseOtherxbrli:dateItemTypedateThe date of the prospectus.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 1 -Paragraph 3 -Subsection a falsefalseProspectus Date17false0natruenanaNo definition available.falsetruefalsefalsefalsefalsefalsefalsefalsefalsehttp://xbrl.sec.gov/rr/role/riskreturndetaildata1falsefalsefalse00falsefalsefalsefalsefalse2falsefalseUSDtruefalse{dei_DocumentInformationDocumentAxis} : Angel Oak Multi-Strategy Income Fund 4/15/2010 - 4/14/2011 USD ($) $TwelveMonthsEnded_14Apr2011_S000031543_Memberhttp://www.sec.gov/CIK0001437249duration2010-04-15T00:00:002011-04-14T00:00:00falsefalseAngel Oak Multi-Strategy Income Funddei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldivat1437249_S000031543Memberdei_DocumentInformationDocumentAxisexplicitMemberPureStandardhttp://www.xbrl.org/2003/instancepurexbrli0USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$OthernaNo definition available.No authoritative reference available.falsefalseAngel Oak Multi-Strategy Income Fund18true0rr_RiskReturnAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseRisk/Return:19false0rr_RiskReturnHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00SUMMARY SECTIONfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicatedReference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 falsefalseRisk/Return [Heading]20false0rr_ObjectiveHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Investment ObjectivefalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalseObjective [Heading]21false0rr_ObjectivePrimaryTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The investment objective of the Angel Oak Multi-Strategy Income Fund (the “Fund”) is current income.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalseObjective, Primary [Text Block]22true0vat1437249_FundFeesAndExpensesAbstractvat1437249falsenadurationFund Fees And Expenses.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringFund Fees And Expenses.falsefalseFees and Expenses of the Fund23false0rr_ExpenseHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Fees and Expenses of the FundfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Fee Table Includes the following information, in plain English under rule 421(d) under the Securities Act, after Item 2 Fees and expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shared 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 $[_____] in [name of fund family] funds. Shareholder Fees (fees paid directly from your investment) 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 you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be You would pay the following expenses if you did not redeem your shares The Example does not reflect sales charges (loads) on reinvested dividends [and other distributions]. If these sales charges (loads) were included, your costs would be higher. 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 may indicate higher transaction costs. 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 Fund's portfolio turnover rate was __% of the average value of its whole portfolio. Instructions. A.3.instructions.6 New Funds. For purposes of this Item, a "New Fund" is a Fund that does not include in Form N-1A financial statements reporting operating results or that includes financial statements for the Fund's initial fiscal year reporting operating results for a period of 6 months or less. The following Instructions apply to New Funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph d -Subsection instructions falsefalseExpense [Heading]24false0rr_ExpenseNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The table below describes the fees and expenses that you may pay if you buy and hold shares of the Fund.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis table describes the fees and expenses that you may pay if you buy and hold shared 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 $[_____] in [name of fund family] funds. Include the narrative explanations in the order indicated. A Fund may modify the narrative explanations if the explanation contains comparable information to that shown.The narrative explanation regarding sales charge discounts is only required by a Fund that offers such discounts and should specify the minimum level of investment required to qualify for a discount. Modify the narrative explanation to state that Fund shares are sold on a national securities exchange at the end of the time periods indicated, and that brokerage commissions for buying and selling Fund shares through a broker are not reflected.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph b -Subsection instructions falsefalseExpense Narrative [Text Block]25true0rr_ShareholderFeesAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseShareholder fees26false0rr_ShareholderFeesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Shareholder fees (fees paid directly from your investment)falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringShareholder Fees (fees paid directly from your investment).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subsection table falsefalseShareholder Fees Caption [Text]27false0rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPricerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.05750.0575falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureMaximum Deferred Sales Charge (Load) (as a percentage of ____) A.3.instructions.2.a.i "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection table falsefalseMaximum Sales Charge (load) Imposed on Purchases (as a % of offering price)28false0rr_MaximumDeferredSalesChargeOverOtherrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.00000.0000falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureMaximum Deferred Sales Charge (Load) (as a percentage of ____) "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph a -Clause i -Subsection instructions falsefalseMaximum Deferred Sales Charge (load) (as a % of amount redeemed)29false0rr_RedemptionFeeOverRedemptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.00000.0000falsefalsefalsefalsefalseOtherrr:NonPositivePure4Typepure"Redemption Fee" (as a percentage of amount redeemed, if applicable) If the Fund is an Exchange-Traded Fund and issues or redeems shares in creation units of not less than 25,000 shares each, exclude any fees charged for the purchase and redemption of the Fund's creation units. "Redemption Fee" includes a fee charged for any redemption of the Fund's shares, but does not include a deferred sales charge (load) imposed upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph b -Subsection instructions falsefalseRedemption Fee (as a percentage of amount redeemed within 30 days of purchase and a $15 fee for redemptions paid by wire)30true0rr_OperatingExpensesAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseAnnual Fund Operating Expenses31false0rr_OperatingExpensesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringAnnual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investment)Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 7 -Subsection table falsefalseOperating Expenses Caption [Text]32false0rr_ManagementFeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.01500.0150falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph a -Subsection instructions falsefalseManagement Fees33false0rr_DistributionAndService12b1FeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.00250.0025falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 9 -Subsection table falsefalseDistribution and Service (12b-1) Fees34false0rr_OtherExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.00560.0056[1]falsefalsefalsefalsefalseOtherrr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph c -Clause i -Subsection instructions falsefalseOther Expenses35false0rr_ExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.02310.0231falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that invests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph d -Subsection instructions falsefalseTotal Annual Fund Operating Expenses36false0rr_FeeWaiverOrReimbursementOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue-0.0006-0.0006falsefalsefalsefalsefalseOtherrr:NonPositivePure4TypepureTotal Annual Fund Operating Expenses. If there were expense reimbursement or fee waiver arrangements that reduced any Fund operating expenses and will continue to reduce them for no less than one year from the effective date of the Fund's registration statement, a Fund may add two captions to the table one caption showing the amount of the expense reimbursement or fee waiver, and a second caption showing the Fund's net expenses after subtracting the fee reimbursement or expense waiver from the total fund operating expenses. The Fund should place these additional captions directly below the "Total Annual Fund Operating Expenses" caption of the table and should use appropriate descriptive captions, such as "Fee Waiver [and/or Expense Reimbursement]" and "Total Annual Fund Operating Expenses After Fee Waiver [and/or Expense Reimbursement]," respectively. If the Fund provides this disclosure, also disclose the period for which the expense reimbursement or fee waiver arrangement is expected to continue, and briefly describe who can terminate the arrangement and under what circumstances.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalseFee Waiver/Expense Reimbursement37false0rr_NetExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.02250.0225[2]falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalseTotal Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement38false0rr_OtherExpensesNewFundBasedOnEstimatesrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Estimated for the first year of operations.falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringThis element represents the disclosure for new funds that "Other Expenses" are based on estimated amounts for the current fiscal year.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 6 -Subparagraph a -Subsection instructions falsefalseOther Expenses, New Fund, Based on Estimates [Text]39false0rr_FeeWaiverOrReimbursementOverAssetsDateOfTerminationrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00May 31, 2012falsefalsefalsefalsefalseOtherus-types:dateStringItemTypenormalizedstringThis element represents the date of expected termination of any expense reimbursement or fee waiver arrangements that reduce any Fund operating expenses (SEC Form N-1A 2006-09-14 A.3.table.1.11 Total Annual Fund Operating Expenses A.3.instructions.3.e).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph e -Subsection instructions falsefalseFee Waiver or Reimbursement over Assets, Date of Termination40true0rr_ExpenseExampleAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseExpense Example:41false0rr_ExpenseExampleHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Expense Example:falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringHeading for Expense Example.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalseExpense Example [Heading]42false0rr_ExpenseExampleNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00This 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. Only the one year number shown below reflects the Adviser’s agreement to waive fees and/or reimburse Fund expenses. Although your actual costs may be higher or lower, based on these assumptions your costs would be:falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThe Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection example falsefalseExpense Example Narrative [Text Block]43false0rr_ExpenseExampleYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsetrue790790falsetruefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalseOne Year44false0rr_ExpenseExampleYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsetrue12501250falsetruefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalseThree Years45true0vat1437249_PortfolioTurnoverAltAbstractvat1437249falsenadurationPortfolio Turnover.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringPortfolio Turnover.falsefalsePortfolio Turnover46false0rr_PortfolioTurnoverHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Portfolio TurnoverfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 5 -Subsection instructions falsefalsePortfolio Turnover [Heading]47false0rr_PortfolioTurnoverTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The 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 operating expenses or in the example above, affect the Fund’s performance.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subsection example falsefalsePortfolio Turnover [Text Block]48false0rr_StrategyHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Principal Investment StrategiesfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalseStrategy [Heading]49false0rr_StrategyNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The Angel Oak Multi-Strategy Income Fund (the “Fund”) invests primarily in asset -backed fixed income securities, including securities backed by assets such as credit card receivables, student loans, automobile loans and residential and commercial real estate. The Fund’s allocation of its assets into various asset classes within the asset -backed fixed income market will depend on the views of Angel Oak Capital Advisors, LLC (the “Adviser”), the investment adviser to the Fund, as to the best value relative to what is currently presented in the market place. From time to time, the Fund may allocate its assets so as to focus on particular types of asset-backed fixed income securities. Initially, the Adviser anticipates focusing the Fund’s investments on non-agency, residential mortgage-backed securities. When selecting these types of investments for the Fund, the Adviser intends to focus on residential mortgage-backed securities that are collateralized by pools of Prime or Alternative-A (“Alt-A”) mortgages (i.e., mortgages made to borrowers with lower credit risk profiles than “sub-prime”) and that are seasoned (i.e., have a history of timely payments). These securities may be either “agency” or “non-agency,” meaning that they have balances that fall within the limits set by the Federal Finance Housing Agency (“FFHA”) and qualify as collateral for securities that are issued by the Government National Mortgage Association (“Ginnie Mae”), the Federal National Mortgage Association (“Fannie Mae”) or the Federal Home Loan Mortgage Corporation (“Freddie Mac”). Non-agency loans may or may not meet such criteria and are sometimes referred to as “private label paper.” The Adviser analyzes a variety of factors when selecting investments for the Fund , such as collateral quality, credit support, structure and market conditions. The Adviser attempts to diversify risks that arise from position sizes, geography, ratings, duration, deal structure and collateral values. The Adviser will also seek to invest in securities that have relatively low volatility. The Fund may also invest, without limitation, in corporate debt securities of any quality, including junk bonds, and securities that are not rated by any rating agencies. In selecting debt investments, the Adviser may consider maturity, yield and ratings information and opportunities for price appreciation. The Fund is a “non-diversified” fund, which means it can invest in fewer securities at any one time than a diversified fund. The Fund may, at times, hold illiquid securities. The Adviser may sell investments if it determines that any of the mentioned factors have changed materially from its initial analysis or that other factors indicate an investment is no longer earning a return commensurate with its risk.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalseStrategy Narrative [Text Block]50false0rr_StrategyPortfolioConcentrationrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The Angel Oak Multi-Strategy Income Fund (the “Fund”) invests primarily in asset -backed fixed income securities , including securities backed by assets such as credit card receivables, student loans automobile loans and residential and commercial real estate.falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalseStrategy Portfolio Concentration [Text]51false0rr_RiskHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Principal RisksfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNarrative Risk Disclosure.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subsection b falsefalseRisk [Heading]52false0rr_RiskNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The principal risks of investing in the Fund are summarized below. There may be circumstances that could prevent the Fund from achieving its investment goal and you may lose money by investing in the Fund. You should carefully consider the Fund’s investment risks before deciding whether to invest in the Fund. Risks in General. Domestic and foreign economic growth and market conditions, interest rate levels, and political events are among the factors affecting the securities markets of the Fund's investments. There is risk that these and other factors may adversely affect the Fund’s performance. The loss of money is a risk of investing in the Fund. Mortgage-Backed and Asset-Backed Securities Risks. Prepayment risk is associated with mortgage-backed and asset-backed securities. If interest rates fall, the underlying debt may be repaid ahead of schedule, reducing the value of the Fund’s investments. If interest rates rise, there may be fewer prepayments, which would cause the average bond maturity to rise, increasing the potential for the Fund to lose money. The value of these securities may be significantly affected by changes in interest rates, the market’s perception of issuers, and the creditworthiness of the parties involved. The ability of the Fund to successfully utilize these instruments may depend on the ability of the Fund’s Adviser to forecast interest rates and other economic factors correctly. These securities may have a structure that makes their reaction to interest rate changes and other factors difficult to predict, making their value highly volatile. Certain mortgage-backed securities may be secured by pools of mortgages on single-family , multi-family properties , as well as commercial properties. Similarly, asset - backed securities may be secured by pools of loans, such as student loans, automobile loans and credit card receivables. The credit risk on such securities is affected by homeowners or borrowers defaulting on their loans. The values of assets underlying mortgage-backed and asset-backed securities may decline and therefore may not be adequate to cover underlying investors. Mortgage-backed securities and other securities issued by participants in housing and commercial real estate finance , as well as other real estate-related markets have experienced extraordinary weakness and volatility in recent years. Possible legislation in the area of residential mortgages, credit cards and other loans that may collateralize the securities in which the Fund may invest could negatively impact the value of the Fund’s investments . To the extent the Fund focuses its investments in particular types of mortgage-backed or asset-backed securities, the Fund may be more susceptible to risk factors affecting such types of securities. Fixed Income Securities Risks. Investing in fixed income securities subjects the Fund to interest rate risk and credit risk. Interest rate risk is the risk that increases in interest rates could cause the prices of the Fund’s investments in fixed income securities to decline. Credit risk is the risk that the issuer of bonds may not be able to meet interest or principal payments when bonds become due. The Fund could lose money or experience a lower rate of return if it holds high-yield securities (“junk bonds”) that are subject to higher credit risks and are less liquid than other fixed income securities. Junk bonds have more credit risk than investment grade bonds. Junk Bonds may be regarded as predominantly speculative with respect to the issuer’s continuing ability to meet principal and interest payments. They may also be more susceptible to real or perceived adverse economic and competitive industry conditions than higher rated securities. The Adviser may, to a certain extent, rely on credit rating agencies’ assessments of the fixed income securities in which the Fund may invest, and to the extent the Adviser relies too heavily on those assessments without independently investigating of the quality of the particular securities, such security may be subject to more of the risks described in this paragraph. Liquidity Risks / Illiquidity Risks. The Fund may, at times, hold illiquid securities, by virtue of the absence of a readily available market for certain of its investments, or because of legal or contractual restrictions on sales. The Fund will not make investments in illiquid securities, to the extent that it would hold 15% of its net assets in securities deemed to be illiquid following the investment. The Fund could lose money if it is unable to dispose of an investment at a time that is most beneficial to the Fund.Concentration Risk. Concentration risk results from maintaining exposure to the performance of the residential and commercial mortgages held in the mortgage-backed securities in which the Fund will invest. The risk of concentrating in these types of investments is that the Fund will be susceptible to the risks associated with mortgage-backed securities as discussed above. Investment Selection Risk. The Fund’s ability to achieve its investment objective is dependent on the Adviser’s ability to identify profitable investment opportunities for the Fund. Risk of Non-Diversification. The Fund is a non-diversified portfolio, which means that it has the ability to take larger positions in a smaller number of securities than a portfolio that is “diversified.” Non-diversification increases the risk that the value of the Fund could go down because of the poor performance of a single investment. An investment in the Fund is not a deposit at a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringNarrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph i -Clause instruction -Subsection b falsefalseRisk Narrative [Text Block]53false0rr_RiskLoseMoneyrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00There may be circumstances that could prevent the Fund from achieving its investment goal and you may lose money by investing in the Fund.falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringSummarize the principal risks of investing in the Fund, including the risks to which the Fund's portfolio as a whole is subject and the circumstances reasonably likely to affect adversely the Fund's net asset value, yield, and total return. Unless the Fund is a Money Market Fund, disclose that loss of money is a risk of investing in the Fund. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph i -Subsection b falsefalseRisk Lose Money [Text]54false0rr_RiskNondiversifiedStatusrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Risk of Non-Diversification. The Fund is a non-diversified portfolio, which means that it has the ability to take larger positions in a smaller number of securities than a portfolio that is “diversified.” Non-diversification increases the risk that the value of the Fund could go down because of the poor performance of a single investment.falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringIf applicable, state that the Fund is non-diversified, describe the effect of non-diversification (e.g., disclose that, compared with other funds, the Fund may invest a greater percentage of its assets in a particular issuer), and summarize the risks of investing in a non-diversified fund.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph iv -Subsection b falsefalseRisk Nondiversified Status [Text]55false0rr_RiskNotInsuredDepositoryInstitutionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00An investment in the Fund is not a deposit at a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringIf the Fund is advised by or sold through an insured depository institution, state that An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. A Money Market Fund that is advised by or sold through an insured depository institution should combine the disclosure required by Items 2(c)(1)(ii) and (iii) in a single statement.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph iii -Subsection b falsefalseRisk Not Insured Depository Institution [Text]56true0vat1437249_FundPastPerformanceAbstractvat1437249falsenadurationFund Past Performance.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringFund Past Performance.falsefalsePerformance57false0rr_BarChartAndPerformanceTableHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00PerformancefalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalseBar Chart and Performance Table [Heading]58false0rr_PerformanceNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The Fund recently commenced operations and, as a result, does not have a full calendar year of performance history. Investors should be aware that past performance is not necessarily an indication of how the Fund will perform in the future.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalsePerformance Narrative [Text Block]59false0rr_PerformanceOneYearOrLessrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The Fund recently commenced operations and, as a result, does not have a full calendar year of performance history.falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringFor a Fund that provides annual total returns for only one calendar year or for a Fund that does not include the bar chart because it does not have annual returns for a full calendar year, modify, as appropriate, the narrative explanation required by stating that the information gives some indication of the risks of an investment in the Fund by comparing the Fund's performance with a broad measure of market performance). Provide a brief explanation of how the information illustrates the variability of the Fund's returns (e.g., by stating that the information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance). Provide a statement to the effect that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph i -Subsection b Reference 2: 2 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph instructions -Clause 1 -Exhibit b -Subsection b falsefalsePerformance One Year or Less [Text]60false0rr_PerformancePastDoesNotIndicateFuturerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Investors should be aware that past performance is not necessarily an indication of how the Fund will perform in the future.falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringInclude the bar chart and table required by paragraphs (b)(2)(ii) and (iii) of this section. Provide a brief explanation of how the information illustrates the variability of the Fund's returns (e.g., by stating that the information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance). Provide a statement to the effect that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph i -Subsection b falsefalsePerformance Past Does Not Indicate Future [Text]1Estimated for the first year of operations.2Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement reflect that the Adviser has contractually agreed to waive or limit its fees and to assume other expenses of the Fund until May 31, 2012, so that Total Annual Fund Operating Expenses does not exceed 2.00 %. This operating expense limitation does not apply to brokerage fees and commissions, borrowing costs (such as interest and dividend expenses on securities sold short), taxes, 12b-1 fees; extraordinary expenses and indirect expenses (such as "acquired funds fees and expenses"). The Adviser may be entitled to the reimbursement of any fees waived or expenses reimbursed pursuant to the agreement provided overall expenses fall below the limitations set forth above. The Adviser may recoup the sum of all fees previously waived or expenses reimbursed during any of the previous three (3) years, less any reimbursement previously paid, provided total expenses do not exceed the limitation set forth above.153Risk/Return Detail Data (USD $)NoRoundingUnKnownUnKnownUnKnowntruetrue XML 11 defnref.xml IDEA: XBRL DOCUMENT No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. XML 12 R1.xml IDEA: Risk/Return Summary 2.2.0.25truefalse0100000 - Document - Risk/Return Summary {Unlabeled}falsefalsetrue1falsefalseUSDtruefalse{dei_DocumentInformationDocumentAxis} : Angel Oak Multi-Strategy Income Fund 4/15/2010 - 4/14/2011 USD ($) $TwelveMonthsEnded_14Apr2011_S000031543_Memberhttp://www.sec.gov/CIK0001437249duration2010-04-15T00:00:002011-04-14T00:00:00falsefalsevat1437249_S000031543Memberdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldivat1437249_S000031543Memberdei_DocumentInformationDocumentAxisexplicitMemberPureStandardhttp://www.xbrl.org/2003/instancepurexbrli0USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$3false0rr_RiskReturnHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00SUMMARY SECTIONfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicatedReference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 falsefalseRisk/Return [Heading]4false0rr_ObjectiveHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Investment ObjectivefalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalseObjective [Heading]5false0rr_ObjectivePrimaryTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The investment objective of the Angel Oak Multi-Strategy Income Fund (the “Fund”) is current income.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalseObjective, Primary [Text Block]6false0rr_ExpenseHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Fees and Expenses of the FundfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Fee Table Includes the following information, in plain English under rule 421(d) under the Securities Act, after Item 2 Fees and expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shared 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 $[_____] in [name of fund family] funds. Shareholder Fees (fees paid directly from your investment) 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 you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be You would pay the following expenses if you did not redeem your shares The Example does not reflect sales charges (loads) on reinvested dividends [and other distributions]. If these sales charges (loads) were included, your costs would be higher. 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 may indicate higher transaction costs. 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 Fund's portfolio turnover rate was __% of the average value of its whole portfolio. Instructions. A.3.instructions.6 New Funds. For purposes of this Item, a "New Fund" is a Fund that does not include in Form N-1A financial statements reporting operating results or that includes financial statements for the Fund's initial fiscal year reporting operating results for a period of 6 months or less. The following Instructions apply to New Funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph d -Subsection instructions falsefalseExpense [Heading]7false0rr_ExpenseNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The table below describes the fees and expenses that you may pay if you buy and hold shares of the Fund.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis table describes the fees and expenses that you may pay if you buy and hold shared 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 $[_____] in [name of fund family] funds. Include the narrative explanations in the order indicated. A Fund may modify the narrative explanations if the explanation contains comparable information to that shown.The narrative explanation regarding sales charge discounts is only required by a Fund that offers such discounts and should specify the minimum level of investment required to qualify for a discount. Modify the narrative explanation to state that Fund shares are sold on a national securities exchange at the end of the time periods indicated, and that brokerage commissions for buying and selling Fund shares through a broker are not reflected.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph b -Subsection instructions falsefalseExpense Narrative [Text Block]8false0rr_ShareholderFeesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Shareholder fees (fees paid directly from your investment)falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringShareholder Fees (fees paid directly from your investment).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subsection table falsefalseShareholder Fees Caption [Text]9false0rr_ShareholderFeesTableTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><div> &lt;div style="display:none;" &gt;~ http://angeloakfunds.com/role/ShareholderFeesAngelOakMultiStrategyIncomeFund column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_DocumentInformationDocumentAxis compact vat1437249 _S000031543_Member * ~&lt;/div&gt; </div></div>falsefalse<div><div> &lt;div style="display:none;" &gt;~ http://angeloakfunds.com/role/ShareholderFeesAngelOakMultiStrategyIncomeFund column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_DocumentInformationDocumentAxis compact vat1437249 _S000031543_Member * ~&lt;/div&gt; </div></div>falsehttp://angeloakfunds.com/role/ShareholderFeesAngelOakMultiStrategyIncomeFundfalsefalse0200100 - Schedule - Shareholder Feestruefalsefalse1falseColumnperiodPeriod*Columndei_DocumentInformationDocumentAxisAxis*ColumnunitUnit*duration2010-04-15T00:00:002011-04-14T00:00:00falsefalseAngel Oak Multi-Strategy Income Funddei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldivat1437249_S000031543Memberdei_DocumentInformationDocumentAxisexplicitMemberAngel Oak Multi-Strategy Income FundUSDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170falseUSDfalsefalse$1falseRowprimaryElement*4false0rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPricerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.05750.0575falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureMaximum Deferred Sales Charge (Load) (as a percentage of ____) A.3.instructions.2.a.i "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection table falsefalseMaximum Sales Charge (load) Imposed on Purchases (as a % of offering price)0rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPricetruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.05750.0575falsefalsefalsetruefalseOthernanafalsefalseMaximum Sales Charge (load) Imposed on Purchases (as a % of offering price)2falseRowprimaryElement*5false0rr_MaximumDeferredSalesChargeOverOtherrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.00000.0000falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureMaximum Deferred Sales Charge (Load) (as a percentage of ____) "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph a -Clause i -Subsection instructions falsefalseMaximum Deferred Sales Charge (load) (as a % of amount redeemed)0rr_MaximumDeferredSalesChargeOverOthertruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00000.0000falsefalsefalsetruefalseOthernanafalsefalseMaximum Deferred Sales Charge (load) (as a % of amount redeemed)3falseRowprimaryElement*6false0rr_RedemptionFeeOverRedemptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.00000.0000falsefalsefalsetruefalseOtherrr:NonPositivePure4Typepure"Redemption Fee" (as a percentage of amount redeemed, if applicable) If the Fund is an Exchange-Traded Fund and issues or redeems shares in creation units of not less than 25,000 shares each, exclude any fees charged for the purchase and redemption of the Fund's creation units. "Redemption Fee" includes a fee charged for any redemption of the Fund's shares, but does not include a deferred sales charge (load) imposed upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph b -Subsection instructions falsefalseRedemption Fee (as a percentage of amount redeemed within 30 days of purchase and a $15 fee for redemptions paid by wire)0rr_RedemptionFeeOverRedemptiontruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00000.0000falsefalsefalsetruefalseOthernanafalsefalseRedemption Fee (as a percentage of amount redeemed within 30 days of purchase and a $15 fee for redemptions paid by wire)13Shareholder Fees UnKnownUnKnownUnKnownUnKnownfalsetrueColumnperiodPeriod*Columndei_DocumentInformationDocumentAxisAxis*ColumnunitUnit*RowprimaryElement*falsefalsefalseOtherus-types:textBlockItemTypestringContains a command for the SEC Viewer for the role corresponding to ShareholderFeesData.No authoritative reference available.falsefalseShareholder Fees [Table]10false0rr_OperatingExpensesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringAnnual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investment)Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 7 -Subsection table falsefalseOperating Expenses Caption [Text]11false0rr_AnnualFundOperatingExpensesTableTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><div> &lt;div style="display:none;" &gt;~ http://angeloakfunds.com/role/AnnualFundOperatingExpensesAngelOakMultiStrategyIncomeFund column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_DocumentInformationDocumentAxis compact vat1437249 _S000031543_Member * ~&lt;/div&gt; </div></div>falsefalse<div><div> &lt;div style="display:none;" &gt;~ http://angeloakfunds.com/role/AnnualFundOperatingExpensesAngelOakMultiStrategyIncomeFund column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_DocumentInformationDocumentAxis compact vat1437249 _S000031543_Member * ~&lt;/div&gt; </div></div>falsehttp://angeloakfunds.com/role/AnnualFundOperatingExpensesAngelOakMultiStrategyIncomeFundfalsefalse0200200 - Schedule - Annual Fund Operating Expensestruefalsefalse1falseColumnperiodPeriod*Columndei_DocumentInformationDocumentAxisAxis*ColumnunitUnit*duration2010-04-15T00:00:002011-04-14T00:00:00falsefalseAngel Oak Multi-Strategy Income Funddei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldivat1437249_S000031543Memberdei_DocumentInformationDocumentAxisexplicitMemberAngel Oak Multi-Strategy Income FundUSDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170falseUSDfalsefalse$1falseRowprimaryElement*4false0rr_ManagementFeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.01500.0150falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph a -Subsection instructions falsefalseManagement Fees0rr_ManagementFeesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.01500.0150falsefalsefalsetruefalseOthernanafalsefalseManagement Fees2falseRowprimaryElement*5false0rr_DistributionAndService12b1FeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.00250.0025falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 9 -Subsection table falsefalseDistribution and Service (12b-1) Fees0rr_DistributionAndService12b1FeesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00250.0025falsefalsefalsetruefalseOthernanafalsefalseDistribution and Service (12b-1) Fees3falseRowprimaryElement*6false0rr_OtherExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.00560.0056[2]falsefalsefalsetruefalseOtherrr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph c -Clause i -Subsection instructions falsefalseOther Expenses0rr_OtherExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse[1]1truetruetrue0.00560.0056falsefalsefalsetruefalseOthernanafalsefalseOther Expenses4falseRowprimaryElement*7false0rr_ExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.02310.0231falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that invests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph d -Subsection instructions falsefalseTotal Annual Fund Operating Expenses0rr_ExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.02310.0231falsefalsefalsetruefalseOthernanafalsefalseTotal Annual Fund Operating Expenses5falseRowprimaryElement*8false0rr_FeeWaiverOrReimbursementOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue-0.0006-0.0006falsefalsefalsetruefalseOtherrr:NonPositivePure4TypepureTotal Annual Fund Operating Expenses. If there were expense reimbursement or fee waiver arrangements that reduced any Fund operating expenses and will continue to reduce them for no less than one year from the effective date of the Fund's registration statement, a Fund may add two captions to the table one caption showing the amount of the expense reimbursement or fee waiver, and a second caption showing the Fund's net expenses after subtracting the fee reimbursement or expense waiver from the total fund operating expenses. The Fund should place these additional captions directly below the "Total Annual Fund Operating Expenses" caption of the table and should use appropriate descriptive captions, such as "Fee Waiver [and/or Expense Reimbursement]" and "Total Annual Fund Operating Expenses After Fee Waiver [and/or Expense Reimbursement]," respectively. If the Fund provides this disclosure, also disclose the period for which the expense reimbursement or fee waiver arrangement is expected to continue, and briefly describe who can terminate the arrangement and under what circumstances.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalseFee Waiver/Expense Reimbursement0rr_FeeWaiverOrReimbursementOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue-0.0006-0.0006falsefalsefalsetruefalseOthernanafalsefalseFee Waiver/Expense Reimbursement6falseRowprimaryElement*9false0rr_NetExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truetruetrue0.02250.0225[1]falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalseTotal Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement0rr_NetExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse[2]1truetruetrue0.02250.0225falsefalsefalsetruefalseOthernanafalsefalseTotal Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement1Estimated for the first year of operations.2Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement reflect that the Adviser has contractually agreed to waive or limit its fees and to assume other expenses of the Fund until May 31, 2012, so that Total Annual Fund Operating Expenses does not exceed 2.00 %. This operating expense limitation does not apply to brokerage fees and commissions, borrowing costs (such as interest and dividend expenses on securities sold short), taxes, 12b-1 fees; extraordinary expenses and indirect expenses (such as "acquired funds fees and expenses"). The Adviser may be entitled to the reimbursement of any fees waived or expenses reimbursed pursuant to the agreement provided overall expenses fall below the limitations set forth above. The Adviser may recoup the sum of all fees previously waived or expenses reimbursed during any of the previous three (3) years, less any reimbursement previously paid, provided total expenses do not exceed the limitation set forth above.16Annual Fund Operating Expenses UnKnownUnKnownUnKnownUnKnownfalsetrueColumnperiodPeriod*Columndei_DocumentInformationDocumentAxisAxis*ColumnunitUnit*RowprimaryElement*falsefalsefalseOtherus-types:textBlockItemTypestringContains a command for the SEC Viewer for the role corresponding to OperatingExpensesData.No authoritative reference available.falsefalseAnnual Fund Operating Expenses [Table]12false0rr_ExpenseExampleHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Expense Example:falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringHeading for Expense Example.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalseExpense Example [Heading]13false0rr_ExpenseExampleNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00This 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. Only the one year number shown below reflects the Adviser’s agreement to waive fees and/or reimburse Fund expenses. Although your actual costs may be higher or lower, based on these assumptions your costs would be:falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThe Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection example falsefalseExpense Example Narrative [Text Block]14false0rr_ExpenseExampleWithRedemptionTableTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><div> &lt;div style="display:none;" &gt;~ http://angeloakfunds.com/role/ExpenseExampleAngelOakMultiStrategyIncomeFund column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_DocumentInformationDocumentAxis compact vat1437249 _S000031543_Member * ~&lt;/div&gt; </div></div>falsefalse<div><div> &lt;div style="display:none;" &gt;~ http://angeloakfunds.com/role/ExpenseExampleAngelOakMultiStrategyIncomeFund column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_DocumentInformationDocumentAxis compact vat1437249 _S000031543_Member * ~&lt;/div&gt; </div></div>truehttp://angeloakfunds.com/role/ExpenseExampleAngelOakMultiStrategyIncomeFundfalsefalse0200300 - Schedule - Expense Example {Transposed}truefalsefalse1falseColumnprimaryElement*4false0rr_ExpenseExampleYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsetrue790790falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalseOne YearfalseUSDfalsefalse$2falseColumnprimaryElement*5false0rr_ExpenseExampleYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsetrue12501250falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalseThree YearsfalseUSDfalsefalse$1falseRowperiodPeriod*Rowdei_DocumentInformationDocumentAxisAxis*RowunitUnit*duration2010-04-15T00:00:002011-04-14T00:00:00falsefalseAngel Oak Multi-Strategy Income Funddei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldivat1437249_S000031543Memberdei_DocumentInformationDocumentAxisexplicitMemberAngel Oak Multi-Strategy Income FundUSDStandardhttp://www.xbrl.org/2003/iso4217USDiso421700truefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue790790falsefalsefalsetruefalse2truefalsetrue12501250falsefalsefalsetruefalseOthernanafalsefalseAngel Oak Multi-Strategy Income Fund21Expense Example (USD $)UnKnownUnKnownUnKnownUnKnownfalsetrueColumnprimaryElement*RowperiodPeriod*Rowdei_DocumentInformationDocumentAxisAxis*RowunitUnit*falsefalsefalseOtherus-types:textBlockItemTypestringContains a command for the SEC Viewer for the role corresponding to ExpenseExample.No authoritative reference available.falsefalseExpense Example, With Redemption [Table]15false0rr_PortfolioTurnoverHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Portfolio TurnoverfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 5 -Subsection instructions falsefalsePortfolio Turnover [Heading]16false0rr_PortfolioTurnoverTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The 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 operating expenses or in the example above, affect the Fund’s performance.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subsection example falsefalsePortfolio Turnover [Text Block]17false0rr_StrategyHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Principal Investment StrategiesfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalseStrategy [Heading]18false0rr_StrategyNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The Angel Oak Multi-Strategy Income Fund (the “Fund”) invests primarily in asset -backed fixed income securities, including securities backed by assets such as credit card receivables, student loans, automobile loans and residential and commercial real estate. The Fund’s allocation of its assets into various asset classes within the asset -backed fixed income market will depend on the views of Angel Oak Capital Advisors, LLC (the “Adviser”), the investment adviser to the Fund, as to the best value relative to what is currently presented in the market place. From time to time, the Fund may allocate its assets so as to focus on particular types of asset-backed fixed income securities. Initially, the Adviser anticipates focusing the Fund’s investments on non-agency, residential mortgage-backed securities. When selecting these types of investments for the Fund, the Adviser intends to focus on residential mortgage-backed securities that are collateralized by pools of Prime or Alternative-A (“Alt-A”) mortgages (i.e., mortgages made to borrowers with lower credit risk profiles than “sub-prime”) and that are seasoned (i.e., have a history of timely payments). These securities may be either “agency” or “non-agency,” meaning that they have balances that fall within the limits set by the Federal Finance Housing Agency (“FFHA”) and qualify as collateral for securities that are issued by the Government National Mortgage Association (“Ginnie Mae”), the Federal National Mortgage Association (“Fannie Mae”) or the Federal Home Loan Mortgage Corporation (“Freddie Mac”). Non-agency loans may or may not meet such criteria and are sometimes referred to as “private label paper.” The Adviser analyzes a variety of factors when selecting investments for the Fund , such as collateral quality, credit support, structure and market conditions. The Adviser attempts to diversify risks that arise from position sizes, geography, ratings, duration, deal structure and collateral values. The Adviser will also seek to invest in securities that have relatively low volatility. The Fund may also invest, without limitation, in corporate debt securities of any quality, including junk bonds, and securities that are not rated by any rating agencies. In selecting debt investments, the Adviser may consider maturity, yield and ratings information and opportunities for price appreciation. The Fund is a “non-diversified” fund, which means it can invest in fewer securities at any one time than a diversified fund. The Fund may, at times, hold illiquid securities. The Adviser may sell investments if it determines that any of the mentioned factors have changed materially from its initial analysis or that other factors indicate an investment is no longer earning a return commensurate with its risk.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalseStrategy Narrative [Text Block]19false0rr_RiskHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Principal RisksfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNarrative Risk Disclosure.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subsection b falsefalseRisk [Heading]20false0rr_RiskNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The principal risks of investing in the Fund are summarized below. There may be circumstances that could prevent the Fund from achieving its investment goal and you may lose money by investing in the Fund. You should carefully consider the Fund’s investment risks before deciding whether to invest in the Fund. Risks in General. Domestic and foreign economic growth and market conditions, interest rate levels, and political events are among the factors affecting the securities markets of the Fund's investments. There is risk that these and other factors may adversely affect the Fund’s performance. The loss of money is a risk of investing in the Fund. Mortgage-Backed and Asset-Backed Securities Risks. Prepayment risk is associated with mortgage-backed and asset-backed securities. If interest rates fall, the underlying debt may be repaid ahead of schedule, reducing the value of the Fund’s investments. If interest rates rise, there may be fewer prepayments, which would cause the average bond maturity to rise, increasing the potential for the Fund to lose money. The value of these securities may be significantly affected by changes in interest rates, the market’s perception of issuers, and the creditworthiness of the parties involved. The ability of the Fund to successfully utilize these instruments may depend on the ability of the Fund’s Adviser to forecast interest rates and other economic factors correctly. These securities may have a structure that makes their reaction to interest rate changes and other factors difficult to predict, making their value highly volatile. Certain mortgage-backed securities may be secured by pools of mortgages on single-family , multi-family properties , as well as commercial properties. Similarly, asset - backed securities may be secured by pools of loans, such as student loans, automobile loans and credit card receivables. The credit risk on such securities is affected by homeowners or borrowers defaulting on their loans. The values of assets underlying mortgage-backed and asset-backed securities may decline and therefore may not be adequate to cover underlying investors. Mortgage-backed securities and other securities issued by participants in housing and commercial real estate finance , as well as other real estate-related markets have experienced extraordinary weakness and volatility in recent years. Possible legislation in the area of residential mortgages, credit cards and other loans that may collateralize the securities in which the Fund may invest could negatively impact the value of the Fund’s investments . To the extent the Fund focuses its investments in particular types of mortgage-backed or asset-backed securities, the Fund may be more susceptible to risk factors affecting such types of securities. Fixed Income Securities Risks. Investing in fixed income securities subjects the Fund to interest rate risk and credit risk. Interest rate risk is the risk that increases in interest rates could cause the prices of the Fund’s investments in fixed income securities to decline. Credit risk is the risk that the issuer of bonds may not be able to meet interest or principal payments when bonds become due. The Fund could lose money or experience a lower rate of return if it holds high-yield securities (“junk bonds”) that are subject to higher credit risks and are less liquid than other fixed income securities. Junk bonds have more credit risk than investment grade bonds. Junk Bonds may be regarded as predominantly speculative with respect to the issuer’s continuing ability to meet principal and interest payments. They may also be more susceptible to real or perceived adverse economic and competitive industry conditions than higher rated securities. The Adviser may, to a certain extent, rely on credit rating agencies’ assessments of the fixed income securities in which the Fund may invest, and to the extent the Adviser relies too heavily on those assessments without independently investigating of the quality of the particular securities, such security may be subject to more of the risks described in this paragraph. Liquidity Risks / Illiquidity Risks. The Fund may, at times, hold illiquid securities, by virtue of the absence of a readily available market for certain of its investments, or because of legal or contractual restrictions on sales. The Fund will not make investments in illiquid securities, to the extent that it would hold 15% of its net assets in securities deemed to be illiquid following the investment. The Fund could lose money if it is unable to dispose of an investment at a time that is most beneficial to the Fund.Concentration Risk. Concentration risk results from maintaining exposure to the performance of the residential and commercial mortgages held in the mortgage-backed securities in which the Fund will invest. The risk of concentrating in these types of investments is that the Fund will be susceptible to the risks associated with mortgage-backed securities as discussed above. Investment Selection Risk. The Fund’s ability to achieve its investment objective is dependent on the Adviser’s ability to identify profitable investment opportunities for the Fund. Risk of Non-Diversification. The Fund is a non-diversified portfolio, which means that it has the ability to take larger positions in a smaller number of securities than a portfolio that is “diversified.” Non-diversification increases the risk that the value of the Fund could go down because of the poor performance of a single investment. An investment in the Fund is not a deposit at a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringNarrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph i -Clause instruction -Subsection b falsefalseRisk Narrative [Text Block]21false0rr_BarChartAndPerformanceTableHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00PerformancefalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalseBar Chart and Performance Table [Heading]22false0rr_PerformanceNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The Fund recently commenced operations and, as a result, does not have a full calendar year of performance history. Investors should be aware that past performance is not necessarily an indication of how the Fund will perform in the future.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalsePerformance Narrative [Text Block]120Risk/Return Summary (Angel Oak Multi-Strategy Income Fund)UnKnownUnKnownUnKnownUnKnownfalsetrue XML 13 FilingSummary.xml IDEA: XBRL DOCUMENT 2.2.0.25 true Sheet 0100000 - Document - Risk/Return Summary {Unlabeled} Risk/Return Summary http://angeloakfunds.com/role/RiskReturnSummary true R1.xml false Sheet 040000 - Disclosure - Risk/Return Detail Data {Elements} Risk/Return Detail Data http://xbrl.sec.gov/rr/role/RiskReturnDetailData false R5.xml false Book All Reports All Reports false 1 2 1 0 2 47 true false TwelveMonthsEnded_14Apr2011 8 TwelveMonthsEnded_14Apr2011_S000031543_Member 39 true true EXCEL 14 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=%]B9#(U-#9D,5\V83DW7S1D-S1?.3'!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-H965T#I%>&-E;%=O#I%>&-E;%=O6QE#I!8W1I=F53:&5E=#X-"B`@/'@Z4')O=&5C=%-T#I0#I0#I0&UL/CPA6V5N9&EF72TM/@T*/"]H96%D/@T*("`\8F]D>3X-"B`@ M(#QP/E1H:7,@<&%G92!S:&]U;&0@8F4@;W!E;F5D('=I=&@@36EC'1087)T7V)D,C4T-F0Q7S9A.3=?-&0W-%\Y-S(R7V0P M8C`T-34Q,C`W-0T*0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B]B9#(U M-#9D,5\V83DW7S1D-S1?.3'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA M'0^5&AE(&EN=F5S=&UE;G0@;V)J96-T:79E(&]F('1H92!!;F=E;"!/86L@ M375L=&DM4W1R871E9WD@26YC;VUE($9U;F0@*'1H92`F(S@R,C`[1G5N9"8C M.#(R,3LI(&ES(&-U'0^5&AE('1A8FQE M(&)E;&]W(&1E2!I9B!Y;W4@8G5Y(&%N9"!H;VQD('-H87)E2!F7,@;V8@<'5R8VAA2!W M:7)E*3PO=&0^#0H@("`@("`@("`@("`@(#QT9"!A;&EG;CTS1')I9VAT(&-L M87-S/3-$;G5M<#YN;VYE#0H-"@D)"0D\65A'!E;G-E'!E;G-E(%)E:6UB=7)S96UE;G0\+W1D M/@T*("`@("`@("`@("`@("`\=&0@8VQA'!E;G-E(%)E:6UB=7)S96UE M;G0\+W1D/@T*("`@("`@("`@("`@("`\=&0@8VQA65A'!E;G-E'!E;G-E&-E960@,BXP,"`E+B!4:&ES(&]P97)A=&EN9R!E>'!E;G-E(&QI;6ET871I M;VX@9&]E&5S+"`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`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`@ M/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C M;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA7!E/"]T9#X-"B`@("`@("`@/'1D(&-L87-S M/3-$=&5X=#XT.#5"4$]3/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^5D%,545$($%$ M5DE315)3(%1255-4/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M07!R(#$X+`T*"0DR,#$Q/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^07!R(#$T+`T*"0DR,#$Q/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'!E;G-E(%M(96%D:6YG73PO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E'0@0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^'1";&]C:SPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^5&AE('1A8FQE(&)E;&]W(&1E2!I9B!Y;W4@8G5Y(&%N9"!H M;VQD('-H87)E2!F&EM=6T@4V%L97,@0VAA&EM=6U386QE M&EM=6U$969E7,@;V8@<'5R M8VAA2!W:7)E*3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'!E;G-E'!E;G-E'!E;G-E M6]U'!E;G-E'!E;G-E'!E M;G-E'0^36%Y(#,Q+"`R,#$R M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E17AA;7!L94%B'!E;G-E17AA;7!L94AE861I;F<\+W1D/@T* M("`@("`@("`\=&0@8VQA'!E;G-E($5X M86UP;&4@3F%R&%M<&QE3F%R6]U(&EN=F5S="`F;F)S<#LD,3`L,#`P(&EN('1H92!&=6YD M(&9O&%M<&QE(&%L2!T:&4@;VYE('EE87(@;G5M8F5R('-H;W=N(&)E;&]W(')E M9FQE8W1S('1H92!!9'9I'!E;G-E17AA;7!L95EE M87(P,3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E17AA;7!L95EE87(P M,SPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'1";&]C M:SPO=&0^#0H@("`@("`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`H)B,X,C(P.T9& M2$$F(S@R,C$[*2!A;F0@<75A;&EF>2!A2!T:&4@1V]V97)N;65N="!.871I M;VYA;"!-;W)T9V%G92!!2!L;V%N2P@:6YC;'5D:6YG(&IU;FL@8F]N9',L(&%N9"!S96-U2!A;GD@'0^5&AE($%N9V5L($]A:R!-=6QT:2U3=')A=&5G>2!);F-O M;64@1G5N9"`H=&AE("8C.#(R,#M&=6YD)B,X,C(Q.RD@:6YV97-T2!A'0@0FQO8VM=/"]T9#X-"B`@("`@("`@ M/'1D(&-L87-S/3-$=&@^'1";&]C:SPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'`^5&AE('!R:6YC:7!A;"!R M:7-K2!B92!C:7)C=6US=&%N8V5S('1H870@8V]U;&0@ M<')E=F5N="!T:&4@1G5N9"!F2!C;VYS:61E2!A9F9E8W0@=&AE($9U;F0F(S@R,3<[6EN9R!D96)T(&UA>2!B92!R97!A:60@86AE860@;V8@ M2!A9F9E8W1E9"!B>2!C:&%N9V5S(&EN(&EN=&5R97-T(')A=&5S+"!T M:&4@;6%R:V5T)B,X,C$W.W,@<&5R8V5P=&EO;B!O9B!I2!U=&EL M:7IE('1H97-E(&EN2!D97!E;F0@;VX@=&AE(&%B:6QI M='D@;V8@=&AE($9U;F0F(S@R,3<[2X@5&AE2!V;VQA=&EL92X@0V5R=&%I;B!M M;W)T9V%G92UB86-K960@2!P M;V]L2`L(&UU;'1I+69A M;6EL>2!P2P@87-S970@+2!B86-K960@2!P;V]L2!H;VUE;W=N97)S(&]R(&)O2!W96%K;F5S2!I;B!R96-E;G0@ M>65A2!C;VQL871E2!I;G9E2!I M;7!A8W0@=&AE('9A;'5E(&]F('1H92!&=6YD)B,X,C$W.W,@:6YV97-T;65N M=',@+B!4;R!T:&4@97AT96YT('1H92!&=6YD(&9O8W5S97,@:71S(&EN=F5S M=&UE;G1S(&EN('!A2!S<&5C=6QA=&EV92!W:71H(')E2!T;R!M965T M('!R:6YC:7!A;"!A;F0@:6YT97)E2!C;VYD M:71I;VYS('1H86X@:&EG:&5R(')A=&5D('-E8W5R:71I97,N(%1H92!!9'9I M2P@=&\@82!C97)T86EN(&5X=&5N="P@2!O;B!C'1E;G0@=&AE($%D=FES97(@2!I;G9E2!O=&AE2X\+W`^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'1=/"]T9#X-"B`@("`@("`@/'1D M(&-L87-S/3-$=&@^3PO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^5&AE2!B>2!I;G9E M'0^4&5R9F]R;6%N8V4\'1";&]C:SPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^5&AE($9U M;F0@'0^5&AE($9U;F0@65A'1= M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^65A'!E;G-E'!E;G-E&-E960@,BXP,"`E+B!4:&ES M(&]P97)A=&EN9R!E>'!E;G-E(&QI;6ET871I;VX@9&]E'1R86]R9&EN87)Y(&5X<&5N'!E;G-E M2!O9B!T:&4@<')E=FEO=7,@=&AR964@*#,I('EE M87)S+"!L97-S(&%N>2!R96EM8G5R'1087)T7V)D,C4T-F0Q7S9A.3=?-&0W-%\Y-S(R7V0P8C`T-34Q,C`W-0T* M0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B]B9#(U-#9D,5\V83DW7S1D M-S1?.3&UL/@T* M+2TM+2TM/5].97AT4&%R=%]B9#(U-#9D,5\V83DW7S1D-S1?.3

VALUED ADVISERS TRUST

R. Jeffrey Young, President