0001104659-12-084911.txt : 20121218 0001104659-12-084911.hdr.sgml : 20121218 20121218144405 ACCESSION NUMBER: 0001104659-12-084911 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121218 DATE AS OF CHANGE: 20121218 EFFECTIVENESS DATE: 20121218 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Adviser Managed Trust CENTRAL INDEX KEY: 0001502608 IRS NUMBER: 273560836 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-169727 FILM NUMBER: 121271068 BUSINESS ADDRESS: STREET 1: 1 FREEDOM VALLEY DR. CITY: OAKS STATE: PA ZIP: 19456 BUSINESS PHONE: (800) 342-5734 MAIL ADDRESS: STREET 1: 1 FREEDOM VALLEY DR. CITY: OAKS STATE: PA ZIP: 19456 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Adviser Managed Trust CENTRAL INDEX KEY: 0001502608 IRS NUMBER: 273560836 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-22480 FILM NUMBER: 121271069 BUSINESS ADDRESS: STREET 1: 1 FREEDOM VALLEY DR. CITY: OAKS STATE: PA ZIP: 19456 BUSINESS PHONE: (800) 342-5734 MAIL ADDRESS: STREET 1: 1 FREEDOM VALLEY DR. CITY: OAKS STATE: PA ZIP: 19456 0001502608 S000030653 Tactical Defensive Fund C000094996 Tactical Defensive Fund TCDFX 0001502608 S000030654 Tactical Offensive Equity Fund C000094997 Tactical Offensive Equity Fund TCOEX 0001502608 S000030655 Tactical Offensive Fixed Income Fund C000094998 Tactical Offensive Fixed Income Fund TCOFX 485BPOS 1 a12-24600_5485bpos.htm POST-EFFECTIVE AMENDMENT FILED PURSUANT TO SECURITIES ACT RULE 485(B)

 

AS FILED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION ON DECEMBER 18, 2012

 

 

File No. 333-169727

 

File No. 811-22480

 

 

 

U.S. SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM N-1A

 

REGISTRATION STATEMENT UNDER THE

SECURITIES ACT OF 1933

 

 

POST-EFFECTIVE AMENDMENT NO. 4

x

 

AND

 

REGISTRATION STATEMENT UNDER THE

INVESTMENT COMPANY ACT OF 1940

 

 

AMENDMENT NO. 7

x

 

ADVISER MANAGED TRUST

 

One Freedom Valley Drive,

Oaks, Pennsylvania 19456

(610) 676-1000

 

Name and Address of Agent for Service:

 

Timothy D. Barto, Esq.

SEI Investments Company

One Freedom Valley Drive

Oaks, Pennsylvania 19456

 

Copy to:

 

Timothy W. Levin, Esquire

Morgan, Lewis & Bockius LLP

1701 Market Street

Philadelphia, Pennsylvania 19103

 

Title of Securities Being Registered Units of Beneficial Interest

 

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

 

x     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      75 days after filing pursuant to paragraph (a)(2)

o                 On [date] pursuant to paragraph (a) of Rule 485

 

If appropriate check the following box:

 

o                 This post-effective Amendment designates a new effective date for a previously filed post-effective Amendment

 

 

 


 


 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, 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 of 1933, as amended, and has duly caused this Post-Effective Amendment No. 4 to Registration Statement No. 333-169727 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Oaks, Commonwealth of Pennsylvania on the 18th day of December, 2012.

 

 

 

ADVISER MANAGED TRUST

 

By:

/s/ Robert A. Nesher

 

 

Robert A. Nesher

 

 

Trustee, President and Chief Executive Officer

 

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

 

*

 

Trustee

 

December 18, 2012

Rosemarie B. Greco

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

December 18, 2012

William M. Doran

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

December 18, 2012

George J. Sullivan, Jr.

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

December 18, 2012

Nina Lesavoy

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

December 18, 2012

James M. Williams

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

December 18, 2012

Hubert L. Harris, Jr.

 

 

 

 

 

 

 

 

 

/s/ Robert A. Nesher

 

Trustee, President & Chief Executive Officer

 

December 18, 2012

Robert A. Nesher

 

 

 

 

 

 

 

 

 

/s/ Peter A Rodriguez

 

Controller & Chief Financial Officer

 

December 18, 2012

Peter A. Rodriguez

 

 

 

 

 

 

 

 

 

*By:

/s/ Robert A. Nesher

 

 

 

 

 

Attorney-in-fact

 

 

 

 

 


 


 

Exhibit Index

 

Exhibit Number

 

Description

 

Page No.

 

 

 

 

 

 

 

Risk/return summary of the Funds’ prospectus as an Interactive Data File using eXtensible Business Reporting Language (“XBRL”)

 

 

 


 

EX-101.INS 2 ck0001502608-20121128.xml XBRL INSTANCE DOCUMENT 485BPOS 2012-11-28 0001502608 2012-11-30 Adviser Managed Trust false 2012-11-28 2012-11-30 <tt>The Fund will pay transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year ended July 31, 2012, the Fund's portfolio<br />turnover rate was 310% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000030655Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Total return.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> <tt>Adviser Managed Strategy Component<br /> <br />Only persons who are clients of the Financial Adviser (as defined below) and <br />who participate in the Adviser Managed Strategy should invest in the Fund. The <br />Fund may not be purchased by any other investor. The Fund is designed to be a<br />component of a broader strategy employed by a third party investment manager<br />(Financial Adviser) for the benefit of its clients. The Financial Adviser seeks<br />to take advantage of broad market changes by tactically shifting its clients'<br />assets among the Fund, the Tactical Offensive Equity Fund, the Tactical<br />Defensive Fund and a money market fund affiliated with the Fund, depending on<br />the Financial Adviser's evaluation of current market conditions (Adviser Managed<br />Strategy). The Financial Adviser is not the adviser to the Fund and is not<br />affiliated with SIMC, the adviser to the Fund. The Adviser Managed Strategy is<br />based on models developed by the Financial Adviser and is not subject to the<br />oversight of or input from SIMC.<br /> <br />When the Financial Adviser determines to reallocate its clients' assets to <br />one or more of the other funds that compose the Adviser Managed Strategy, the<br />Financial Adviser may request the redemption of all of the shares for which the<br />Financial Adviser exercises investment discretion. The Financial Adviser's<br />redemption request will cause the Fund to liquidate substantially all of its<br />assets in order to fulfill the redemption request. Once the shares for which the<br />Financial Adviser exercises discretion are redeemed, the Fund will no longer be<br />an active component of the Adviser Managed Strategy. When the Fund is not an<br />active component of the Adviser Managed Strategy, the Fund may invest up to 100%<br />of its remaining assets in cash, money market instruments, repurchase agreements<br />and other short-term obligations that would not ordinarily be consistent with<br />the Fund's investment goal. The Fund could be invested in these types of<br />investments for extended periods of time. At such times, SIMC will actively<br />manage the assets of the Fund, and no Sub-Adviser will manage the assets of the<br />Fund. SIMC, the Financial Adviser or one or more of their affiliates will be the<br />only investors in the Fund when the Fund is not an active component of the<br />Adviser Managed Strategy.<br /> <br />Investment Strategy<br /> <br />Under normal circumstances, the Fund will invest at least 80% of its net assets,<br />plus the amount of any borrowings for investment purposes, in fixed income<br />securities. The Fund will invest primarily in U.S. and foreign investment and<br />non-investment grade (also known as high yield securities or junk bonds) fixed<br />income securities, including emerging market, corporate and government fixed<br />income securities. These investments include U.S. Treasury obligations,<br />obligations issued by agencies or instrumentalities of the U.S. Government,<br />including obligations not guaranteed by the U.S. Treasury, such as obligations<br />issued by U.S. Government-sponsored entities, emerging market debt, asset-backed<br />securities, mortgage-backed securities, corporate bonds and debentures, commercial <br />paper, money market instruments, money market&#xA0;&#xA0;funds, mortgage dollar rolls, <br />obligations of supranational entities issued or guaranteed by certain banks&#xA0;&#xA0;and <br />zero coupon obligations and obligations of entities organized to restructure the <br />outstanding debt of such issuers. The Fund may invest in securities denominated <br />in U.S. dollars or in a foreign currency.<br /> <br />The Fund may also invest in futures contracts, forward contracts and swap<br />agreements (also called "swaps") for speculative or hedging purposes. Futures<br />contracts, forward contracts and swaps are used to synthetically obtain exposure<br />to the securities identified above or baskets of such securities and to manage<br />the Fund's interest rate duration and yield curve exposure. These derivatives<br />are also used to mitigate the Fund's overall level of risk and/or the Fund's<br />risk to particular types of securities, currencies or market segments. Interest<br />rate swaps are further used to manage the Fund's yield spread sensitivity. When<br />the Fund seeks to take an active long or short position with respect to the<br />likelihood of an event of default of a security or basket of securities, the<br />Fund may use credit default swaps. The Fund may buy credit default swaps in an<br />attempt to manage credit risk where the Fund has credit exposure to an issuer,<br />and the Fund may sell credit default swaps to more efficiently gain credit<br />exposure to such security or basket of securities.<br /> <br />The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers<br />with differing investment philosophies to manage portions of the Fund's<br />portfolio under the general supervision of SIMC. Sub-Advisers are selected for<br />their expertise in managing various kinds of U.S. fixed income securities, and<br />each Sub-Adviser makes investment decisions based on an analysis of yield<br />trends, credit ratings and other factors in accordance with its particular<br />discipline. In addition, SIMC will directly manage a portion of the Fund's<br />portfolio.<br /> <br />The Fund invests primarily in investment grade securities (those rated AAA, AA,<br />A or BBB-). However, the Fund may invest in non-rated securities or securities<br />rated below investment grade (BB+, B and CCC). Securities rated below investment<br />grade are sometimes referred to as "high yield" securities or "junk bonds." The<br />Fund's portfolio and the Fund's investments in particular fixed income securities <br />are not subject to any maturity or duration restrictions.<br /> <br />As stated above, when the Fund is not an active component of the Adviser Managed<br />Strategy, SIMC will act as the sole manager to the Fund, and no Sub-Advisers<br />will be used.<br /> <br />Due to its investment strategy, the Fund may buy and sell securities frequently.</tt> TACTICAL OFFENSIVE FIXED INCOME FUND EXAMPLE The Fund commenced operations on February 25, 2011. Because the Fund did not have a full calendar year of performance as of November 30, 2012, performance results have not been provided. Investment Goal Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs may be higher or lower, based on these assumptions your costs would be: 3.10 Performance Information ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Adviser Managed Strategy Risk -- The Fund is a component of a broader investment<br />strategy employed by the Financial Adviser known as the Adviser Managed<br />Strategy. Pursuant to the Adviser Managed Strategy, the Financial Adviser<br />tactically shifts its clients' assets among the Fund, the Tactical Offensive<br />Equity Fund, the Tactical Defensive Fund and a money market fund affiliated with<br />the Fund. These asset shifts among the funds in the Adviser Managed Strategy<br />(i.e., an exchange of shares of one fund for shares of another fund) will be a<br />taxable event to an investor unless the investor is investing in the Fund<br />through a tax-deferred arrangement. As part of the Adviser Managed Strategy,<br />substantially all of the Fund's assets may be periodically sold and repurchased<br />at the direction of the Financial Adviser. These large redemptions and<br />repurchases will have significant effects on the management of the Fund and are<br />expected to result in increased portfolio turnover (and related transaction<br />costs), disruption of portfolio management strategies and the realization of<br />significant taxable gains. Accordingly, if notified of an upcoming redemption<br />request, the Fund may begin to liquidate all or substantially all of its assets<br />prior to the submission of the redemption request in an effort to raise the <br />necessary cash, and the Fund will not be invested pursuant to its investment <br />strategy during such time. When the Fund is required to rapidly liquidate a <br />substantial portion of its portfolio to satisfy a large redemption order placed <br />as part of the Adviser Managed Strategy, the Fund may be forced to sell securities <br />at below current market values or the Fund's selling activity may drive down the <br />market value of securities being sold. The Fund may also be required to sell <br />portfolio holdings at a time when the portfolio managers would otherwise not <br />recommend doing so. For example, if the Fund were to experience a large redemption <br />at a time of high market volatility or during a substantial market decline, the <br />Fund would be forced to liquidate securities even though the portfolio managers <br />may not otherwise choose to do so. When the Fund receives a large purchase order <br />as a result of the Adviser Managed Strategy, the Fund may be required to rapidly<br />purchase portfolio securities. This may cause the Fund to incur higher than normal <br />transaction costs or may require the Fund to purchase portfolio securities at above <br />current market values. Further, the Fund's purchasing activity may drive up the <br />market value of securities being purchased or the Fund may be required to purchase <br />portfolio holdings at a time when the portfolio managers would not otherwise <br />recommend doing so. When the Fund is not an active component of the Adviser Managed <br />Strategy, the Fund's investments may not be consistent with the Fund's investment <br />goal, and the Fund may miss investment opportunities because the assets necessary <br />to take advantage of such opportunities are tied up in other investments or have <br />been allocated to another fund within the Adviser Managed Strategy.<br /> <br />Asset-Backed Securities Risk -- Payment of principal and interest on asset-backed<br />securities is dependent largely on the cash flows generated by the assets<br />backing the securities, and asset-backed securities may not have the benefit of<br />any security interest in the related assets.<br /> <br />Below Investment Grade Securities Risk -- Fixed income securities rated below<br />investment grade (also known as high yield securities or junk bonds) involve<br />greater risks of default or downgrade and are more volatile than investment<br />grade securities because the prospect for repayment of principal and interest <br />of many of these securities is speculative.<br /> <br />Corporate Fixed Income Securities Risk -- Corporate fixed income securities<br />respond to economic developments, especially changes in interest rates, as well<br />as perceptions of the creditworthiness and business prospects of individual<br />issuers.<br /> <br />Credit Risk -- The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Currency Risk -- As a result of the Fund's investments in securities denominated<br />in and/or receiving revenues in foreign currencies, the Fund will be subject to<br />currency risk. This is the risk that those currencies will decline in value<br />relative to the U.S. dollar or, in the case of hedging positions, that the U.S.<br />dollar will decline in value relative to the currency hedged. In either event,<br />the dollar value of an investment in the Fund would be adversely affected.<br /> <br />Derivatives Risk -- The Fund's use of futures contracts, forward contracts and<br />swaps is subject to market risk, leverage risk, correlation risk and liquidity<br />risk. Leverage risk and liquidity risk are described below. Market risk is the<br />risk that the market value of an investment may move up and down, sometimes<br />rapidly and unpredictably. Correlation risk is the risk that changes in the<br />value of the derivative may not correlate perfectly with the underlying asset,<br />rate or index. The Fund's use of swaps and over-the-counter forward contracts is<br />also subject to credit risk and valuation risk. Valuation risk is the risk that<br />the derivative may be difficult to value and/or valued incorrectly. Credit risk<br />is described above. Each of these risks could cause the Fund to lose more than <br />the principal amount invested in a derivative instrument.<br /> <br />Fixed Income Market Risk -- The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well <br />as to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. In the case of foreign securities, price<br />fluctuations will reflect international economic and political events as well <br />as changes in currency valuations relative to the U.S. dollar.<br /> <br />Foreign Investment/Emerging Markets Risk -- The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements and different legal, regulatory<br />and tax environments. These additional risks may be heightened with respect to<br />emerging market countries since political turmoil and rapid changes in economic<br />conditions are more likely to occur in these countries.<br /> <br />Foreign Sovereign Debt Securities Risk -- The risk that: (i) the governmental<br />entity that controls the repayment of sovereign debt may not be willing or able<br />to repay the principal and/or interest when it becomes due, due to factors such<br />as debt service burden, political constraints, cash flow problems and other<br />national economic factors; (ii) governments may default on their debt securities, <br />which may require holders of such securities to participate in debt rescheduling <br />or additional lending to defaulting governments; and (iii) there is no bankruptcy <br />proceeding by which defaulted sovereign debt may be collected in whole or in part.<br /> <br />Interest Rate Risk -- The risk that the value of fixed income securities,<br />including U.S. Government securities, will fall due to rising interest rates.<br /> <br />Leverage Risk -- The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk -- The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment opportunity, <br />any of which could have a negative effect on Fund management or performance.<br /> <br />Mortgage-Backed Securities Risk -- Mortgage-backed securities are affected by,<br />among other things, interest rate changes and the possibility of prepayment of<br />the underlying mortgage loans. Mortgage-backed securities are also subject to<br />the risk that underlying borrowers will be unable to meet their obligations.<br /> <br />Mortgage Dollar Rolls Risk -- Mortgage dollar rolls are transactions in which the<br />Fund sells securities (usually mortgage-backed securities) and simultaneously<br />contracts to repurchase substantially similar, but not identical, securities on<br />a specified future date. If the broker-dealer to whom a Fund sells the security<br />becomes insolvent, the Fund's right to repurchase the security may be restricted. <br />Other risks involved in entering into mortgage dollar rolls include the risk that <br />the value of the security may change adversely over the term of the mortgage <br />dollar roll and that the security the Fund is required to repurchase may be worth <br />less than the security that the Fund originally held.<br /> <br />Portfolio Turnover Risk -- Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /><br />Prepayment Risk -- The risk that, with declining interest rates, fixed income<br />securities with stated interest rates may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br /> <br />U.S. Government Securities Risk -- Although U.S. Government securities are<br />considered to be among the safest investments, they are not guaranteed against<br />price movements due to changing interest rates. Obligations issued by some U.S.<br />Government agencies are backed by the U.S. Treasury, while others are backed<br />solely by the ability of the agency to borrow from the U.S. Treasury or by the<br />agency's own resources.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The Fund commenced operations on February 25, 2011. Because the Fund did not<br />have a full calendar year of performance as of November 30, 2012, performance<br />results have not been provided.<br /> <br />Because of the Fund's unique manner of operation in following the Adviser<br />Managed Strategy, the Fund's performance may not be comparable to the<br />performance of other mutual funds that invest in similar securities.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000030655Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> TCOFX 88 274 0.0051 0.0035 2013-11-30 0.00 0.0086 <tt>The Fund will pay transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year ended July 31, 2012, the Fund's portfolio<br />turnover rate was 194% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000030654Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> <tt>Adviser Managed Strategy Component<br /> <br />Only persons who are clients of the Financial Adviser (as defined below) and <br />who participate in the Adviser Managed Strategy should invest in the Fund. The <br />Fund may not be purchased by any other investor. The Fund is designed to be a<br />component of a broader strategy employed by a third party investment manager<br />(Financial Adviser) for the benefit of its clients. The Financial Adviser seeks<br />to take advantage of broad market changes by tactically shifting its clients'<br />assets among the Fund, the Tactical Offensive Fixed Income Fund, the Tactical<br />Defensive Fund and a money market fund affiliated with the Fund, depending on<br />the Financial Adviser's evaluation of current market conditions (Adviser Managed<br />Strategy). The Financial Adviser is not the adviser to the Fund and is not<br />affiliated with SEI Investments Management Corporation (SIMC), the adviser to<br />the Fund. The Adviser Managed Strategy is based on models developed by the<br />Financial Adviser and is not subject to the oversight of or input from SIMC.<br /> <br />When the Financial Adviser determines to reallocate its clients' assets to <br />one or more of the other funds that compose the Adviser Managed Strategy, the<br />Financial Adviser may request the redemption of all of the shares for which the<br />Financial Adviser exercises investment discretion. The Financial Adviser's<br />redemption request will cause the Fund to liquidate substantially all of its<br />assets in order to fulfill the redemption request. Once the shares for which the<br />Financial Adviser exercises investment discretion are redeemed, the Fund will no<br />longer be an active component of the Adviser Managed Strategy. When the Fund is<br />not an active component of the Adviser Managed Strategy, the Fund may invest up<br />to 100% of its remaining assets in exchange-traded funds (ETFs) that are designed <br />to track the performance of the broad equity market. The Fund could be invested <br />in these types of investments for extended periods of time. At such times, SIMC <br />will actively manage the assets of the Fund, and no sub-adviser (each, a Sub-Adviser <br />and collectively, the Sub-Advisers) will manage the assets of the Fund. SIMC, the <br />Financial Adviser or one or more of their affiliates will be the only investors in <br />the Fund when the Fund is not an active component of the Adviser Managed Strategy.<br /> <br />Investment Strategy<br /> <br />Under normal circumstances and when the Fund is an active component of the<br />Adviser Managed Strategy, the Fund will invest at least 80% of its net assets,<br />plus the amount of any borrowings for investment purposes, in equity securities<br />of U.S. and non-U.S. issuers of various market capitalizations and industries.<br />The equity securities the Fund may purchase include common stocks, preferred<br />stocks, depositary receipts and ETFs that are designed to track an underlying <br />basket of equity securities. The Fund may also invest in futures contracts and <br />forward contracts for hedging purposes, including to seek to manage the Fund's <br />currency exposure to foreign securities and mitigate the Fund's overall level <br />of risk. It is expected that the Fund will invest at least 60% of its assets in <br />common stocks and other equity securities of issuers located in the United States <br />and up to 40% of its assets in common stocks and other equity securities of issuers<br />located outside the United States, although these percentages may vary depending<br />on SIMC's and/or the Sub-Advisers' assessment of the markets. With respect to<br />its investment in issuers located outside the United States, the Fund will<br />invest primarily in companies located in developed countries, but may also<br />invest up to 20% of its assets in companies located in emerging markets.<br /> <br />The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers<br />with differing investment philosophies to manage portions of the Fund's portfolio <br />under the general supervision of SIMC. As stated above, when the Fund is not an <br />active component of the Adviser Managed Strategy, SIMC will act as the sole manager <br />to the Fund, and no Sub-Advisers will be used.<br /> <br />Due to its investment strategy, the Fund may buy and sell securities frequently.</tt> TACTICAL OFFENSIVE EQUITY FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in underlying funds. EXAMPLE The Fund commenced operations on February 25, 2011. Because the Fund did not have a full calendar year of performance as of November 30, 2012, performance results have not been provided. Investment Goal Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs may be higher or lower, based on these assumptions your costs would be: 1.94 Performance Information ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Adviser Managed Strategy Risk -- The Fund is a component of a broader investment<br />strategy employed by the Financial Adviser known as the Adviser Managed<br />Strategy. Pursuant to the Adviser Managed Strategy, the Financial Adviser<br />tactically shifts its clients' assets among the Fund, the Tactical Offensive<br />Fixed Income Fund, the Tactical Defensive Fund and a money market fund<br />affiliated with the Fund. These asset shifts among the funds in the Adviser<br />Managed Strategy (i.e., an exchange of shares of one fund for shares of another<br />fund) will be a taxable event to an investor unless the investor is investing in<br />the Fund through a tax-deferred arrangement. As part of the Adviser Managed<br />Strategy, substantially all of the Fund's assets may be periodically sold and<br />repurchased at the direction of the Financial Adviser. These large redemptions<br />and repurchases will have significant effects on the management of the Fund and<br />are expected to result in increased portfolio turnover (and related transaction<br />costs), disruption of portfolio management strategies and the realization of<br />significant taxable gains. Accordingly, if notified of an upcoming redemption<br />request, the Fund may begin to liquidate all or substantially all of its assets<br />prior to the submission of the redemption request in an effort to raise the<br />necessary cash, and the Fund will not be invested pursuant to its investment<br />strategy during such time. When the Fund is required to rapidly liquidate a<br />substantial portion of its portfolio to satisfy a large redemption order placed<br />as part of the Adviser Managed Strategy, the Fund may be forced to sell<br />securities at below current market values or the Fund's selling activity may<br />drive down the market value of securities being sold. The Fund may also be<br />required to sell portfolio holdings at a time when the portfolio managers would<br />otherwise not recommend doing so. For example, if the Fund were to experience a<br />large redemption at a time of high market volatility or during a substantial<br />market decline, the Fund would be forced to liquidate securities even though the<br />portfolio managers may not otherwise choose to do so. When the Fund receives a<br />large purchase order as a result of the Adviser Managed Strategy, the Fund may<br />be required to rapidly purchase portfolio securities. This may cause the Fund to<br />incur higher than normal transaction costs or may require the Fund to purchase<br />portfolio securities at above current market values. Further, the Fund's<br />purchasing activity may drive up the market value of securities being purchased<br />or the Fund may be required to purchase portfolio securities at a time when the<br />portfolio managers would not otherwise recommend doing so. When the Fund is not<br />an active component of the Adviser Managed Strategy, the Fund may miss investment <br />opportunities because the assets necessary to take advantage of such opportunities <br />are tied up in other investments or have been allocated to another fund within the <br />Adviser Managed Strategy.<br /> <br />Credit Risk -- The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Currency Risk -- As a result of the Fund's investments in securities denominated<br />in and/or receiving revenues in foreign currencies, the Fund will be subject to<br />currency risk. This is the risk that those currencies will decline in value<br />relative to the U.S. dollar or, in the case of hedging positions, that the U.S.<br />dollar will decline in value relative to the currency hedged. In either event,<br />the dollar value of an investment in the Fund would be adversely affected.<br /> <br />Derivatives Risk -- The Fund's use of futures contracts and forward contracts is<br />subject to market risk, leverage risk, correlation risk and liquidity risk.<br />Leverage risk and liquidity risk are described below. Market risk is the risk<br />that the market value of an investment may move up and down, sometimes rapidly<br />and unpredictably. Correlation risk is the risk that changes in the value of the<br />derivative may not correlate perfectly with the underlying asset, rate or index.<br />The Fund's use of over-the-counter forward contracts is also subject to credit<br />risk and valuation risk. Valuation risk is the risk that the derivative may be<br />difficult to value and/or valued incorrectly. Credit risk is described above.<br />Each of these risks could cause the Fund to lose more than the principal amount<br />invested in a derivative instrument.<br /> <br />Equity Market Risk -- The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Exchange-Traded Funds (ETFs) Risk -- The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Foreign Investment/Emerging Markets Risk -- The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements and different legal, regulatory<br />and tax environments. These additional risks may be heightened with respect to<br />emerging market countries since political turmoil and rapid changes in economic<br />conditions are more likely to occur in these countries.<br /> <br />Leverage Risk -- The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk -- The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment opportunity, <br />any of which could have a negative effect on Fund management or performance.<br /> <br />Portfolio Turnover Risk -- Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Small and Medium Capitalization Risk -- The risk that small and medium<br />capitalization companies in which the Fund invests may be more vulnerable to<br />adverse business or economic events than larger, more established companies. In<br />particular, small and medium capitalization companies may have limited product<br />lines, markets and financial resources and may depend upon a relatively small<br />management group. Therefore, small capitalization and medium capitalization <br />stocks may be more volatile than those of larger companies. Small capitalization <br />and medium capitalization stocks may be traded over-the-counter or listed on an <br />exchange.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The Fund commenced operations on February 25, 2011. Because the Fund did not<br />have a full calendar year of performance as of November 30, 2012, performance<br />results have not been provided.<br /> <br />Because of the Fund's unique manner of operation in following the Adviser<br />Managed Strategy, the Fund's performance may not be comparable to the<br />performance of other mutual funds that invest in similar securities.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000030654Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> TCOEX 126 393 0.0052 0.0070 2013-11-30 0.00 0.0124 0.0002 <tt>The Fund will pay transaction costs, such as commissions, when it buys and <br />sells securities (or "turns over" its portfolio). A higher portfolio turnover <br />rate may indicate higher transaction costs and may result in higher taxes when <br />Fund shares are held in a taxable account. These costs, which are not reflected <br />in annual fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year ended July 31, 2012, the Fund's portfolio<br />turnover rate was 0% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000030653Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Preserve principal value and maintain a high degree of liquidity while providing<br />current income.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your <br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> <tt>Adviser Managed Strategy Component<br /> <br />Only persons who are clients of the Financial Adviser (as defined below) and <br />who participate in the Adviser Managed Strategy should invest in the Fund. The <br />Fund may not be purchased by any other investor. The Fund is designed to be a<br />component of a broader strategy employed by a third party investment manager<br />(Financial Adviser) for the benefit of its clients. The Financial Adviser seeks<br />to take advantage of broad market changes by tactically shifting its clients'<br />assets among the Fund, the Tactical Offensive Equity Fund, the Tactical<br />Offensive Fixed Income Fund and a money market fund affiliated with the Fund,<br />depending on the Financial Adviser's evaluation of current market conditions<br />(Adviser Managed Strategy). The Financial Adviser is not the adviser to the Fund<br />and is not affiliated with SIMC, the adviser to the Fund. The Adviser Managed<br />Strategy is based on models developed by the Financial Adviser and is not<br />subject to the oversight of or input from SIMC.<br /> <br />When the Financial Adviser determines to reallocate its clients' assets to <br />one or more of the other funds that compose the Adviser Managed Strategy, the<br />Financial Adviser may request the redemption of all of the shares for which the<br />Financial Adviser exercises investment discretion. The Financial Adviser's<br />redemption request will cause the Fund to liquidate substantially all of its<br />assets in order to fulfill the redemption request. Once the shares for which the<br />Financial Adviser exercises discretion are redeemed, the Fund will no longer be<br />an active component of the Adviser Managed Strategy. When the Fund is not an<br />active component of the Adviser Managed Strategy, the Fund may invest up to 100%<br />of its remaining assets in cash, money market instruments, repurchase agreements<br />and other short-term obligations. While such investments are consistent with the<br />Fund's investment goal, investments made by the Fund when it is not an active<br />component of the Adviser Managed Strategy may differ in certain respects (e.g.,<br />higher credit quality, shorter duration and/or shorter maturity) than investments <br />made by the Fund when the Fund is an active component of the Adviser Managed <br />Strategy. The Fund could be invested in these types of investments for extended <br />periods of time. At such times, SIMC will actively manage the assets of the Fund, <br />and no Sub-Adviser will manage the assets of the Fund. SIMC, the Financial Adviser <br />or one or more of their affiliates will be the only investors in the Fund when the <br />Fund is not an active component of the Adviser Managed Strategy.<br /> <br />Investment Strategy<br /> <br />Under normal circumstances, the Fund invests at least 80% of its net assets,<br />plus the amount of any borrowings for investment purposes, in investment grade<br />fixed income securities. The Fund primarily invests in: (i) U.S. Treasury<br />obligations, including U.S. Treasury inflation-protected securities (TIPS), and<br />obligations issued or guaranteed as to principal and interest by agencies or<br />instrumentalities of the U.S. Government, including mortgage-backed securities<br />such as those issued by the Government National Mortgage Association (GNMA or <br />Ginnie Mae); (ii) securities issued by various entities sponsored by the U.S. <br />Government, such as the Federal National Mortgage Association (FNMA or Fannie <br />Mae) and the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac); and <br />(iii) repurchase agreements collateralized by such obligations. In addition, the <br />Fund may invest in mortgage dollar rolls and when-issued and delayed delivery <br />securities. The Fund may also invest in futures contracts, forward contracts and <br />interest rate swaps for speculative or hedging purposes. Futures contracts, <br />forward contracts and interest rate swaps are used to synthetically obtain <br />exposure to the securities identified above or baskets of such securities and <br />to manage the Fund's interest rate duration and yield curve exposure. These <br />derivatives are also used to mitigate the Fund's overall level of risk and/or <br />the Fund's risk to particular types of securities or market segments. Interest <br />rate swaps are further used to manage the Fund's yield spread sensitivity. <br />Entities sponsored by the U.S. Government are chartered or sponsored by acts <br />of Congress; however, their securities are neither issued nor guaranteed by <br />the U.S. Treasury and are not backed by the full faith and credit of the U.S. <br />Government.<br /> <br />Using a top-down strategy and bottom-up security selection, each Sub-Adviser<br />seeks attractively-valued securities with competitive yields. Each Sub-Adviser<br />also considers factors such as the anticipated level of interest rates, relative<br />valuations and yield spreads and the duration of the Fund's entire portfolio.<br />Duration measures the price sensitivity of a fixed income security to changes in<br />interest rates. For example, a five-year duration means that the fixed income<br />security will decrease in value by 5% if interest rates rise 1% and increase in<br />value by 5% if interest rates fall 1%. While the Fund may invest in securities<br />with any maturity or duration, each Sub-Adviser will strive to maintain a<br />portfolio duration of up to four years under normal market conditions. In<br />addition, SIMC will directly manage a portion of the Fund's portfolio.<br /> <br />The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers<br />with differing investment philosophies to manage portions of the Fund's portfolio <br />under the general supervision of SIMC. As stated above, when the Fund is not an <br />active component of the Adviser Managed Strategy, SIMC will act as the sole manager <br />to the Fund, and no Sub-Advisers will be used.<br /> <br />Due to its investment strategy, the Fund may buy and sell securities frequently.</tt> TACTICAL DEFENSIVE FUND EXAMPLE The Fund commenced operations on February 25, 2011. Because the Fund did not have a full calendar year of performance as of November 30, 2012, performance results have not been provided. Investment Goal Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0.00 Performance Information ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Adviser Managed Strategy Risk -- The Fund is a component of a broader investment<br />strategy employed by the Financial Adviser known as the Adviser Managed<br />Strategy. Pursuant to the Adviser Managed Strategy, the Financial Adviser<br />tactically shifts its clients' assets among the Fund, the Tactical Offensive<br />Equity Fund, the Tactical Offensive Fixed Income Fund and a money market fund<br />affiliated with the Fund. These asset shifts among the funds in the Adviser<br />Managed Strategy (i.e., an exchange of shares of one fund for shares of another<br />fund) will be a taxable event to an investor unless the investor is investing in<br />the Fund through a tax-deferred arrangement. As part of the Adviser Managed<br />Strategy, substantially all of the Fund's assets may be periodically sold and<br />repurchased at the direction of the Financial Adviser. These large redemptions<br />and repurchases will have significant effects on the management of the Fund and<br />are expected to result in increased portfolio turnover (and related transaction<br />costs), disruption of portfolio management strategies and the realization of<br />significant taxable gains. Accordingly, if notified of an upcoming redemption<br />request, the Fund may begin to liquidate all or substantially all of its assets<br />prior to the submission of the redemption request in an effort to raise the<br />necessary cash, and the Fund will not be invested pursuant to its investment<br />strategy during such time. When the Fund is required to&#xA0;&#xA0;rapidly liquidate a <br />substantial portion of its portfolio to satisfy a large redemption order placed <br />as part of the Adviser Managed Strategy, the Fund may be forced to sell <br />securities at below current market values or the Fund's selling activity may <br />drive down the market value of securities being sold. The Fund may also be <br />required to sell portfolio holdings at a time when the portfolio managers <br />would not otherwise recommend doing so. For example, if the Fund were to <br />experience a large redemption at a time of high market volatility or during a<br />substantial market decline, the Fund would be forced to liquidate securities<br />even though the portfolio managers may not otherwise choose to do so. When <br />the Fund receives a large purchase order as a result of the Adviser Managed<br />Strategy, the Fund may be required to rapidly purchase portfolio securities.<br />This may cause the Fund to incur higher than normal transaction costs or may<br />require the Fund to purchase portfolio securities at above current market<br />values. Further, the Fund's purchasing activity may drive up the market value <br />of securities being purchased or the Fund may be required to purchase portfolio<br />holdings at a time when the portfolio managers would not otherwise recommend<br />doing so. When the Fund is not an active component of the Adviser Managed<br />Strategy, the Fund's investments may differ in certain respects (e.g., higher<br />credit quality, shorter duration and/or shorter maturity) than investments <br />made by the Fund when the Fund is an active component of the Adviser Managed<br />Strategy, and the Fund may miss investment opportunities because the assets<br />necessary to take advantage of such opportunities are tied up in other<br />investments or have been allocated to another Fund within the Adviser <br />Managed Strategy.<br /> <br />Credit Risk -- The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Derivatives Risk -- The Fund's use of futures contracts, forward contracts and<br />swaps is subject to market risk, leverage risk, correlation risk and liquidity<br />risk. Leverage and liquidity risk are described below. Market risk is the risk<br />that the market value of an investment may move up and down, sometimes rapidly<br />and unpredictably. Correlation risk is the risk that changes in the value of the<br />derivative may not correlate perfectly with the underlying asset, rate or index.<br />The Fund's use of swaps and over-the-counter forward contracts is also subject<br />to credit risk and valuation risk. Valuation risk is the risk that the derivative <br />may be difficult to value and/or valued incorrectly. Credit risk is described <br />above. Each of these risks could cause the Fund to lose more than the principal <br />amount invested in a derivative instrument.<br /> <br />Fixed Income Market Risk -- The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well <br />as to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. In the case of foreign securities, price<br />fluctuations will reflect international economic and political events, as well<br />as changes in currency valuations relative to the U.S. dollar.<br /> <br />Interest Rate Risk -- The risk that the value of fixed income securities,<br />including U.S. Government securities, will fall due to rising interest rates.<br /> <br />Leverage Risk -- The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk -- The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or&#xA0;&#xA0;forego an investment opportunity, <br />any of which could have a negative effect on Fund management or performance.<br /> <br />Mortgage-Backed Securities Risk -- Mortgage-backed securities are affected by,<br />among other things, interest rate changes and the possibility of prepayment of<br />the underlying mortgage loans. Mortgage-backed securities are also subject to<br />the risk that underlying borrowers will be unable to meet their obligations.<br /> <br />Mortgage Dollar Rolls Risk -- Mortgage dollar rolls are transactions in which the<br />Fund sells securities (usually mortgage-backed securities) and simultaneously<br />contracts to repurchase substantially similar, but not identical, securities on<br />a specified future date. If the broker-dealer to whom a Fund sells the security<br />becomes insolvent, the Fund's right to repurchase the security may be restricted. <br />Other risks involved in entering into mortgage dollar rolls include the risk that <br />the value of the security may change adversely over the term of the mortgage <br />dollar roll and that the security the Fund is required to repurchase may be worth <br />less than the security that the Fund originally held.<br /> <br />Portfolio Turnover Risk -- Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Prepayment Risk -- The risk that, with declining interest rates, fixed income<br />securities with stated interests may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br /> <br />U.S. Government Securities Risk -- Although U.S. Government securities are<br />considered to be among the safest investments, they are not guaranteed against<br />price movements due to changing interest rates. Obligations issued by some U.S.<br />Government agencies are backed by the U.S. Treasury, while others are backed<br />solely by the ability of the agency to borrow from the U.S. Treasury or by the<br />agency's own resources.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The Fund commenced operations on February 25, 2011. Because the Fund did not<br />have a full calendar year of performance as of November 30, 2012, performance<br />results have not been provided.<br /> <br />Because of the Fund's unique manner of operation in following the Adviser<br />Managed Strategy, the Fund's performance may not be comparable to the<br />performance of other mutual funds that invest in similar securities.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000030653Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> TCDFX 83 2704 -0.1295 0.1346 0.0030 2013-11-30 0.00 0.0081 0.1376 0001502608 ck0001502608:SummaryS000030653Memberck0001502608:S000030653Memberck0001502608:C000094996Member 2012-11-30 2012-11-30 0001502608 ck0001502608:SummaryS000030653Memberck0001502608:S000030653Member 2012-11-30 2012-11-30 0001502608 ck0001502608:SummaryS000030654Memberck0001502608:S000030654Memberck0001502608:C000094997Member 2012-11-30 2012-11-30 0001502608 ck0001502608:SummaryS000030654Memberck0001502608:S000030654Member 2012-11-30 2012-11-30 0001502608 ck0001502608:SummaryS000030655Memberck0001502608:S000030655Memberck0001502608:C000094998Member 2012-11-30 2012-11-30 0001502608 ck0001502608:SummaryS000030655Memberck0001502608:S000030655Member 2012-11-30 2012-11-30 0001502608 2012-11-30 2012-11-30 pure iso4217:USD The Fund is an integral part of the Financial Adviser's Adviser Managed Strategy, as discussed further below. As a result, shareholders in the Fund may also pay a fee to the Financial Adviser for participating in the Adviser Managed Strategy, and such fee is not reflected in this fee table or the Example numbers below. You should consult with the Financial Adviser regarding the fees charged for participating in the Adviser Managed Strategy. Effective November 30, 2012, the Fund's administrator and/or its affiliates have contractually agreed to waive fees and reimburse expenses for a period of one year in order to keep total operating costs (exclusive of interest from borrowing, brokerage commissions, trustees' fees, taxes and other extraordinary expenses not incurred in the ordinary course of the Fund's business) from exceeding 0.81%. This contractual waiver and reimbursement will only apply if the Fund's total operating costs exceed 0.81% and will not affect the Fund's total operating costs if they are less than 0.81%. This fee waiver and reimbursement agreement shall remain in effect until November 30, 2013. The agreement may be amended or terminated only with the consent of the Board of Trustees. Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in underlying funds. Effective November 30, 2012, the Fund's administrator and/or its affiliates have contractually agreed to waive fees and reimburse expenses for a period of one year in order to keep total operating costs (exclusive of interest from borrowing, brokerage commissions, trustees' fees, taxes and other extraordinary expenses not incurred in the ordinary course of the Fund's business) from exceeding 1.25%. This contractual waiver and reimbursement will only apply if the Fund's total operating costs exceed 1.25% and will not affect the Fund's total operating costs if they are less than 1.25%. This fee waiver and reimbursement agreement shall remain in effect until November 30, 2013. The agreement may be amended or terminated only with the consent of the Board of Trustees. Effective November 30, 2012, the Fund's administrator and/or its affiliates have contractually agreed to waive fees and reimburse expenses for a period of one year in order to keep total operating costs (exclusive of interest from borrowing, brokerage commissions, trustees' fees, taxes and other extraordinary expenses not incurred in the ordinary course of the Fund's business) from exceeding 0.89%. This contractual waiver and reimbursement will only apply if the Fund's total operating costs exceed 0.89% and will not affect the Fund's total operating costs if they are less than 0.89%. This fee waiver and reimbursement agreement shall remain in effect until November 30, 2013. The agreement may be amended or terminated only with the consent of the Board of Trustees. 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Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Nov. 30, 2012
Tactical Offensive Fixed Income Fund (Prospectus Summary) | Tactical Offensive Fixed Income Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading TACTICAL OFFENSIVE FIXED INCOME FUND
Objective [Heading] rr_ObjectiveHeading Investment Goal
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Total return.
Expense [Heading] rr_ExpenseHeading Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold
Fund shares.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) [1]
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading PORTFOLIO TURNOVER
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund will pay transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate
may indicate higher transaction costs and may result in higher taxes when Fund
shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the Example, affect the Fund's performance.
During the most recent fiscal year ended July 31, 2012, the Fund's portfolio
turnover rate was 310% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 310.00%
Expense Example [Heading] rr_ExpenseExampleHeading EXAMPLE
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund
with the cost of investing in other mutual funds. The Example assumes that you
invest $10,000 in the Fund for the time periods indicated and then redeem all
of your shares at the end of those periods. The Example also assumes that your
investment has a 5% return each year and that the Fund's operating expenses
remain the same.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Adviser Managed Strategy Component

Only persons who are clients of the Financial Adviser (as defined below) and
who participate in the Adviser Managed Strategy should invest in the Fund. The
Fund may not be purchased by any other investor. The Fund is designed to be a
component of a broader strategy employed by a third party investment manager
(Financial Adviser) for the benefit of its clients. The Financial Adviser seeks
to take advantage of broad market changes by tactically shifting its clients'
assets among the Fund, the Tactical Offensive Equity Fund, the Tactical
Defensive Fund and a money market fund affiliated with the Fund, depending on
the Financial Adviser's evaluation of current market conditions (Adviser Managed
Strategy). The Financial Adviser is not the adviser to the Fund and is not
affiliated with SIMC, the adviser to the Fund. The Adviser Managed Strategy is
based on models developed by the Financial Adviser and is not subject to the
oversight of or input from SIMC.

When the Financial Adviser determines to reallocate its clients' assets to
one or more of the other funds that compose the Adviser Managed Strategy, the
Financial Adviser may request the redemption of all of the shares for which the
Financial Adviser exercises investment discretion. The Financial Adviser's
redemption request will cause the Fund to liquidate substantially all of its
assets in order to fulfill the redemption request. Once the shares for which the
Financial Adviser exercises discretion are redeemed, the Fund will no longer be
an active component of the Adviser Managed Strategy. When the Fund is not an
active component of the Adviser Managed Strategy, the Fund may invest up to 100%
of its remaining assets in cash, money market instruments, repurchase agreements
and other short-term obligations that would not ordinarily be consistent with
the Fund's investment goal. The Fund could be invested in these types of
investments for extended periods of time. At such times, SIMC will actively
manage the assets of the Fund, and no Sub-Adviser will manage the assets of the
Fund. SIMC, the Financial Adviser or one or more of their affiliates will be the
only investors in the Fund when the Fund is not an active component of the
Adviser Managed Strategy.

Investment Strategy

Under normal circumstances, the Fund will invest at least 80% of its net assets,
plus the amount of any borrowings for investment purposes, in fixed income
securities. The Fund will invest primarily in U.S. and foreign investment and
non-investment grade (also known as high yield securities or junk bonds) fixed
income securities, including emerging market, corporate and government fixed
income securities. These investments include U.S. Treasury obligations,
obligations issued by agencies or instrumentalities of the U.S. Government,
including obligations not guaranteed by the U.S. Treasury, such as obligations
issued by U.S. Government-sponsored entities, emerging market debt, asset-backed
securities, mortgage-backed securities, corporate bonds and debentures, commercial
paper, money market instruments, money market  funds, mortgage dollar rolls,
obligations of supranational entities issued or guaranteed by certain banks  and
zero coupon obligations and obligations of entities organized to restructure the
outstanding debt of such issuers. The Fund may invest in securities denominated
in U.S. dollars or in a foreign currency.

The Fund may also invest in futures contracts, forward contracts and swap
agreements (also called "swaps") for speculative or hedging purposes. Futures
contracts, forward contracts and swaps are used to synthetically obtain exposure
to the securities identified above or baskets of such securities and to manage
the Fund's interest rate duration and yield curve exposure. These derivatives
are also used to mitigate the Fund's overall level of risk and/or the Fund's
risk to particular types of securities, currencies or market segments. Interest
rate swaps are further used to manage the Fund's yield spread sensitivity. When
the Fund seeks to take an active long or short position with respect to the
likelihood of an event of default of a security or basket of securities, the
Fund may use credit default swaps. The Fund may buy credit default swaps in an
attempt to manage credit risk where the Fund has credit exposure to an issuer,
and the Fund may sell credit default swaps to more efficiently gain credit
exposure to such security or basket of securities.

The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers
with differing investment philosophies to manage portions of the Fund's
portfolio under the general supervision of SIMC. Sub-Advisers are selected for
their expertise in managing various kinds of U.S. fixed income securities, and
each Sub-Adviser makes investment decisions based on an analysis of yield
trends, credit ratings and other factors in accordance with its particular
discipline. In addition, SIMC will directly manage a portion of the Fund's
portfolio.

The Fund invests primarily in investment grade securities (those rated AAA, AA,
A or BBB-). However, the Fund may invest in non-rated securities or securities
rated below investment grade (BB+, B and CCC). Securities rated below investment
grade are sometimes referred to as "high yield" securities or "junk bonds." The
Fund's portfolio and the Fund's investments in particular fixed income securities
are not subject to any maturity or duration restrictions.

As stated above, when the Fund is not an active component of the Adviser Managed
Strategy, SIMC will act as the sole manager to the Fund, and no Sub-Advisers
will be used.

Due to its investment strategy, the Fund may buy and sell securities frequently.
Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Adviser Managed Strategy Risk -- The Fund is a component of a broader investment
strategy employed by the Financial Adviser known as the Adviser Managed
Strategy. Pursuant to the Adviser Managed Strategy, the Financial Adviser
tactically shifts its clients' assets among the Fund, the Tactical Offensive
Equity Fund, the Tactical Defensive Fund and a money market fund affiliated with
the Fund. These asset shifts among the funds in the Adviser Managed Strategy
(i.e., an exchange of shares of one fund for shares of another fund) will be a
taxable event to an investor unless the investor is investing in the Fund
through a tax-deferred arrangement. As part of the Adviser Managed Strategy,
substantially all of the Fund's assets may be periodically sold and repurchased
at the direction of the Financial Adviser. These large redemptions and
repurchases will have significant effects on the management of the Fund and are
expected to result in increased portfolio turnover (and related transaction
costs), disruption of portfolio management strategies and the realization of
significant taxable gains. Accordingly, if notified of an upcoming redemption
request, the Fund may begin to liquidate all or substantially all of its assets
prior to the submission of the redemption request in an effort to raise the
necessary cash, and the Fund will not be invested pursuant to its investment
strategy during such time. When the Fund is required to rapidly liquidate a
substantial portion of its portfolio to satisfy a large redemption order placed
as part of the Adviser Managed Strategy, the Fund may be forced to sell securities
at below current market values or the Fund's selling activity may drive down the
market value of securities being sold. The Fund may also be required to sell
portfolio holdings at a time when the portfolio managers would otherwise not
recommend doing so. For example, if the Fund were to experience a large redemption
at a time of high market volatility or during a substantial market decline, the
Fund would be forced to liquidate securities even though the portfolio managers
may not otherwise choose to do so. When the Fund receives a large purchase order
as a result of the Adviser Managed Strategy, the Fund may be required to rapidly
purchase portfolio securities. This may cause the Fund to incur higher than normal
transaction costs or may require the Fund to purchase portfolio securities at above
current market values. Further, the Fund's purchasing activity may drive up the
market value of securities being purchased or the Fund may be required to purchase
portfolio holdings at a time when the portfolio managers would not otherwise
recommend doing so. When the Fund is not an active component of the Adviser Managed
Strategy, the Fund's investments may not be consistent with the Fund's investment
goal, and the Fund may miss investment opportunities because the assets necessary
to take advantage of such opportunities are tied up in other investments or have
been allocated to another fund within the Adviser Managed Strategy.

Asset-Backed Securities Risk -- Payment of principal and interest on asset-backed
securities is dependent largely on the cash flows generated by the assets
backing the securities, and asset-backed securities may not have the benefit of
any security interest in the related assets.

Below Investment Grade Securities Risk -- Fixed income securities rated below
investment grade (also known as high yield securities or junk bonds) involve
greater risks of default or downgrade and are more volatile than investment
grade securities because the prospect for repayment of principal and interest
of many of these securities is speculative.

Corporate Fixed Income Securities Risk -- Corporate fixed income securities
respond to economic developments, especially changes in interest rates, as well
as perceptions of the creditworthiness and business prospects of individual
issuers.

Credit Risk -- The risk that the issuer of a security or the counterparty to a
contract will default or otherwise become unable to honor a financial
obligation.

Currency Risk -- As a result of the Fund's investments in securities denominated
in and/or receiving revenues in foreign currencies, the Fund will be subject to
currency risk. This is the risk that those currencies will decline in value
relative to the U.S. dollar or, in the case of hedging positions, that the U.S.
dollar will decline in value relative to the currency hedged. In either event,
the dollar value of an investment in the Fund would be adversely affected.

Derivatives Risk -- The Fund's use of futures contracts, forward contracts and
swaps is subject to market risk, leverage risk, correlation risk and liquidity
risk. Leverage risk and liquidity risk are described below. Market risk is the
risk that the market value of an investment may move up and down, sometimes
rapidly and unpredictably. Correlation risk is the risk that changes in the
value of the derivative may not correlate perfectly with the underlying asset,
rate or index. The Fund's use of swaps and over-the-counter forward contracts is
also subject to credit risk and valuation risk. Valuation risk is the risk that
the derivative may be difficult to value and/or valued incorrectly. Credit risk
is described above. Each of these risks could cause the Fund to lose more than
the principal amount invested in a derivative instrument.

Fixed Income Market Risk -- The prices of the Fund's fixed income securities
respond to economic developments, particularly interest rate changes, as well
as to perceptions about the creditworthiness of individual issuers, including
governments and their agencies. In the case of foreign securities, price
fluctuations will reflect international economic and political events as well
as changes in currency valuations relative to the U.S. dollar.

Foreign Investment/Emerging Markets Risk -- The risk that non-U.S. securities may
be subject to additional risks due to, among other things, political, social and
economic developments abroad, currency movements and different legal, regulatory
and tax environments. These additional risks may be heightened with respect to
emerging market countries since political turmoil and rapid changes in economic
conditions are more likely to occur in these countries.

Foreign Sovereign Debt Securities Risk -- The risk that: (i) the governmental
entity that controls the repayment of sovereign debt may not be willing or able
to repay the principal and/or interest when it becomes due, due to factors such
as debt service burden, political constraints, cash flow problems and other
national economic factors; (ii) governments may default on their debt securities,
which may require holders of such securities to participate in debt rescheduling
or additional lending to defaulting governments; and (iii) there is no bankruptcy
proceeding by which defaulted sovereign debt may be collected in whole or in part.

Interest Rate Risk -- The risk that the value of fixed income securities,
including U.S. Government securities, will fall due to rising interest rates.

Leverage Risk -- The use of leverage can amplify the effects of market volatility
on the Fund's share price and may also cause the Fund to liquidate portfolio
positions when it would not be advantageous to do so in order to satisfy its
obligations.

Liquidity Risk -- The risk that certain securities may be difficult or impossible
to sell at the time and the price that the Fund would like. The Fund may have to
lower the price, sell other securities instead or forego an investment opportunity,
any of which could have a negative effect on Fund management or performance.

Mortgage-Backed Securities Risk -- Mortgage-backed securities are affected by,
among other things, interest rate changes and the possibility of prepayment of
the underlying mortgage loans. Mortgage-backed securities are also subject to
the risk that underlying borrowers will be unable to meet their obligations.

Mortgage Dollar Rolls Risk -- Mortgage dollar rolls are transactions in which the
Fund sells securities (usually mortgage-backed securities) and simultaneously
contracts to repurchase substantially similar, but not identical, securities on
a specified future date. If the broker-dealer to whom a Fund sells the security
becomes insolvent, the Fund's right to repurchase the security may be restricted.
Other risks involved in entering into mortgage dollar rolls include the risk that
the value of the security may change adversely over the term of the mortgage
dollar roll and that the security the Fund is required to repurchase may be worth
less than the security that the Fund originally held.

Portfolio Turnover Risk -- Due to its investment strategy, the Fund may buy and
sell securities frequently. This may result in higher transaction costs and
additional capital gains tax liabilities.

Prepayment Risk -- The risk that, with declining interest rates, fixed income
securities with stated interest rates may have the principal paid earlier than
expected, requiring the Fund to invest the proceeds at generally lower interest
rates.

U.S. Government Securities Risk -- Although U.S. Government securities are
considered to be among the safest investments, they are not guaranteed against
price movements due to changing interest rates. Obligations issued by some U.S.
Government agencies are backed by the U.S. Treasury, while others are backed
solely by the ability of the agency to borrow from the U.S. Treasury or by the
agency's own resources.

Loss of money is a risk of investing in the Fund.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance Information
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The Fund commenced operations on February 25, 2011. Because the Fund did not
have a full calendar year of performance as of November 30, 2012, performance
results have not been provided.

Because of the Fund's unique manner of operation in following the Adviser
Managed Strategy, the Fund's performance may not be comparable to the
performance of other mutual funds that invest in similar securities.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess The Fund commenced operations on February 25, 2011. Because the Fund did not have a full calendar year of performance as of November 30, 2012, performance results have not been provided.
Tactical Offensive Fixed Income Fund (Prospectus Summary) | Tactical Offensive Fixed Income Fund | Tactical Offensive Fixed Income Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.35%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.51%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.86% [2]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-11-30
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 88
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 274
[1] The Fund is an integral part of the Financial Adviser's Adviser Managed Strategy, as discussed further below. As a result, shareholders in the Fund may also pay a fee to the Financial Adviser for participating in the Adviser Managed Strategy, and such fee is not reflected in this fee table or the Example numbers below. You should consult with the Financial Adviser regarding the fees charged for participating in the Adviser Managed Strategy.
[2] Effective November 30, 2012, the Fund's administrator and/or its affiliates have contractually agreed to waive fees and reimburse expenses for a period of one year in order to keep total operating costs (exclusive of interest from borrowing, brokerage commissions, trustees' fees, taxes and other extraordinary expenses not incurred in the ordinary course of the Fund's business) from exceeding 0.89%. This contractual waiver and reimbursement will only apply if the Fund's total operating costs exceed 0.89% and will not affect the Fund's total operating costs if they are less than 0.89%. This fee waiver and reimbursement agreement shall remain in effect until November 30, 2013. The agreement may be amended or terminated only with the consent of the Board of Trustees.
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Tactical Offensive Equity Fund (Prospectus Summary) | Tactical Offensive Equity Fund
TACTICAL OFFENSIVE EQUITY FUND
Investment Goal
Capital appreciation.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy and hold
Fund shares.
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) [1]
Annual Fund Operating Expenses
Tactical Offensive Equity Fund
Management Fees 0.70%
Distribution (12b-1) Fees none
Other Expenses 0.52%
Acquired Fund Fees and Expenses (AFFE) [1] 0.02%
Total Annual Fund Operating Expenses [2] 1.24%
[1] Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in underlying funds.
[2] Effective November 30, 2012, the Fund's administrator and/or its affiliates have contractually agreed to waive fees and reimburse expenses for a period of one year in order to keep total operating costs (exclusive of interest from borrowing, brokerage commissions, trustees' fees, taxes and other extraordinary expenses not incurred in the ordinary course of the Fund's business) from exceeding 1.25%. This contractual waiver and reimbursement will only apply if the Fund's total operating costs exceed 1.25% and will not affect the Fund's total operating costs if they are less than 1.25%. This fee waiver and reimbursement agreement shall remain in effect until November 30, 2013. The agreement may be amended or terminated only with the consent of the Board of Trustees.
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.
Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Tactical Offensive Equity Fund
126 393
PORTFOLIO TURNOVER
The Fund will pay transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate
may indicate higher transaction costs and may result in higher taxes when Fund
shares are held in a taxable account. These costs, which are not reflected in
annual Fund operating expenses or in the Example, affect the Fund's performance.
During the most recent fiscal year ended July 31, 2012, the Fund's portfolio
turnover rate was 194% of the average value of its portfolio.
Principal Investment Strategies
Adviser Managed Strategy Component

Only persons who are clients of the Financial Adviser (as defined below) and
who participate in the Adviser Managed Strategy should invest in the Fund. The
Fund may not be purchased by any other investor. The Fund is designed to be a
component of a broader strategy employed by a third party investment manager
(Financial Adviser) for the benefit of its clients. The Financial Adviser seeks
to take advantage of broad market changes by tactically shifting its clients'
assets among the Fund, the Tactical Offensive Fixed Income Fund, the Tactical
Defensive Fund and a money market fund affiliated with the Fund, depending on
the Financial Adviser's evaluation of current market conditions (Adviser Managed
Strategy). The Financial Adviser is not the adviser to the Fund and is not
affiliated with SEI Investments Management Corporation (SIMC), the adviser to
the Fund. The Adviser Managed Strategy is based on models developed by the
Financial Adviser and is not subject to the oversight of or input from SIMC.

When the Financial Adviser determines to reallocate its clients' assets to
one or more of the other funds that compose the Adviser Managed Strategy, the
Financial Adviser may request the redemption of all of the shares for which the
Financial Adviser exercises investment discretion. The Financial Adviser's
redemption request will cause the Fund to liquidate substantially all of its
assets in order to fulfill the redemption request. Once the shares for which the
Financial Adviser exercises investment discretion are redeemed, the Fund will no
longer be an active component of the Adviser Managed Strategy. When the Fund is
not an active component of the Adviser Managed Strategy, the Fund may invest up
to 100% of its remaining assets in exchange-traded funds (ETFs) that are designed
to track the performance of the broad equity market. The Fund could be invested
in these types of investments for extended periods of time. At such times, SIMC
will actively manage the assets of the Fund, and no sub-adviser (each, a Sub-Adviser
and collectively, the Sub-Advisers) will manage the assets of the Fund. SIMC, the
Financial Adviser or one or more of their affiliates will be the only investors in
the Fund when the Fund is not an active component of the Adviser Managed Strategy.

Investment Strategy

Under normal circumstances and when the Fund is an active component of the
Adviser Managed Strategy, the Fund will invest at least 80% of its net assets,
plus the amount of any borrowings for investment purposes, in equity securities
of U.S. and non-U.S. issuers of various market capitalizations and industries.
The equity securities the Fund may purchase include common stocks, preferred
stocks, depositary receipts and ETFs that are designed to track an underlying
basket of equity securities. The Fund may also invest in futures contracts and
forward contracts for hedging purposes, including to seek to manage the Fund's
currency exposure to foreign securities and mitigate the Fund's overall level
of risk. It is expected that the Fund will invest at least 60% of its assets in
common stocks and other equity securities of issuers located in the United States
and up to 40% of its assets in common stocks and other equity securities of issuers
located outside the United States, although these percentages may vary depending
on SIMC's and/or the Sub-Advisers' assessment of the markets. With respect to
its investment in issuers located outside the United States, the Fund will
invest primarily in companies located in developed countries, but may also
invest up to 20% of its assets in companies located in emerging markets.

The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers
with differing investment philosophies to manage portions of the Fund's portfolio
under the general supervision of SIMC. As stated above, when the Fund is not an
active component of the Adviser Managed Strategy, SIMC will act as the sole manager
to the Fund, and no Sub-Advisers will be used.

Due to its investment strategy, the Fund may buy and sell securities frequently.
Principal Risks
Adviser Managed Strategy Risk -- The Fund is a component of a broader investment
strategy employed by the Financial Adviser known as the Adviser Managed
Strategy. Pursuant to the Adviser Managed Strategy, the Financial Adviser
tactically shifts its clients' assets among the Fund, the Tactical Offensive
Fixed Income Fund, the Tactical Defensive Fund and a money market fund
affiliated with the Fund. These asset shifts among the funds in the Adviser
Managed Strategy (i.e., an exchange of shares of one fund for shares of another
fund) will be a taxable event to an investor unless the investor is investing in
the Fund through a tax-deferred arrangement. As part of the Adviser Managed
Strategy, substantially all of the Fund's assets may be periodically sold and
repurchased at the direction of the Financial Adviser. These large redemptions
and repurchases will have significant effects on the management of the Fund and
are expected to result in increased portfolio turnover (and related transaction
costs), disruption of portfolio management strategies and the realization of
significant taxable gains. Accordingly, if notified of an upcoming redemption
request, the Fund may begin to liquidate all or substantially all of its assets
prior to the submission of the redemption request in an effort to raise the
necessary cash, and the Fund will not be invested pursuant to its investment
strategy during such time. When the Fund is required to rapidly liquidate a
substantial portion of its portfolio to satisfy a large redemption order placed
as part of the Adviser Managed Strategy, the Fund may be forced to sell
securities at below current market values or the Fund's selling activity may
drive down the market value of securities being sold. The Fund may also be
required to sell portfolio holdings at a time when the portfolio managers would
otherwise not recommend doing so. For example, if the Fund were to experience a
large redemption at a time of high market volatility or during a substantial
market decline, the Fund would be forced to liquidate securities even though the
portfolio managers may not otherwise choose to do so. When the Fund receives a
large purchase order as a result of the Adviser Managed Strategy, the Fund may
be required to rapidly purchase portfolio securities. This may cause the Fund to
incur higher than normal transaction costs or may require the Fund to purchase
portfolio securities at above current market values. Further, the Fund's
purchasing activity may drive up the market value of securities being purchased
or the Fund may be required to purchase portfolio securities at a time when the
portfolio managers would not otherwise recommend doing so. When the Fund is not
an active component of the Adviser Managed Strategy, the Fund may miss investment
opportunities because the assets necessary to take advantage of such opportunities
are tied up in other investments or have been allocated to another fund within the
Adviser Managed Strategy.

Credit Risk -- The risk that the issuer of a security or the counterparty to a
contract will default or otherwise become unable to honor a financial
obligation.

Currency Risk -- As a result of the Fund's investments in securities denominated
in and/or receiving revenues in foreign currencies, the Fund will be subject to
currency risk. This is the risk that those currencies will decline in value
relative to the U.S. dollar or, in the case of hedging positions, that the U.S.
dollar will decline in value relative to the currency hedged. In either event,
the dollar value of an investment in the Fund would be adversely affected.

Derivatives Risk -- The Fund's use of futures contracts and forward contracts is
subject to market risk, leverage risk, correlation risk and liquidity risk.
Leverage risk and liquidity risk are described below. Market risk is the risk
that the market value of an investment may move up and down, sometimes rapidly
and unpredictably. Correlation risk is the risk that changes in the value of the
derivative may not correlate perfectly with the underlying asset, rate or index.
The Fund's use of over-the-counter forward contracts is also subject to credit
risk and valuation risk. Valuation risk is the risk that the derivative may be
difficult to value and/or valued incorrectly. Credit risk is described above.
Each of these risks could cause the Fund to lose more than the principal amount
invested in a derivative instrument.

Equity Market Risk -- The risk that stock prices will fall over short or extended
periods of time.

Exchange-Traded Funds (ETFs) Risk -- The risks of owning shares of an ETF
generally reflect the risks of owning the underlying securities the ETF is
designed to track, although lack of liquidity in an ETF could result in its
value being more volatile than the underlying portfolio securities.

Foreign Investment/Emerging Markets Risk -- The risk that non-U.S. securities may
be subject to additional risks due to, among other things, political, social and
economic developments abroad, currency movements and different legal, regulatory
and tax environments. These additional risks may be heightened with respect to
emerging market countries since political turmoil and rapid changes in economic
conditions are more likely to occur in these countries.

Leverage Risk -- The use of leverage can amplify the effects of market volatility
on the Fund's share price and may also cause the Fund to liquidate portfolio
positions when it would not be advantageous to do so in order to satisfy its
obligations.

Liquidity Risk -- The risk that certain securities may be difficult or impossible
to sell at the time and the price that the Fund would like. The Fund may have to
lower the price, sell other securities instead or forego an investment opportunity,
any of which could have a negative effect on Fund management or performance.

Portfolio Turnover Risk -- Due to its investment strategy, the Fund may buy and
sell securities frequently. This may result in higher transaction costs and
additional capital gains tax liabilities.

Small and Medium Capitalization Risk -- The risk that small and medium
capitalization companies in which the Fund invests may be more vulnerable to
adverse business or economic events than larger, more established companies. In
particular, small and medium capitalization companies may have limited product
lines, markets and financial resources and may depend upon a relatively small
management group. Therefore, small capitalization and medium capitalization
stocks may be more volatile than those of larger companies. Small capitalization
and medium capitalization stocks may be traded over-the-counter or listed on an
exchange.

Loss of money is a risk of investing in the Fund.
Performance Information
The Fund commenced operations on February 25, 2011. Because the Fund did not
have a full calendar year of performance as of November 30, 2012, performance
results have not been provided.

Because of the Fund's unique manner of operation in following the Adviser
Managed Strategy, the Fund's performance may not be comparable to the
performance of other mutual funds that invest in similar securities.
[1] The Fund is an integral part of the Financial Adviser's Adviser Managed Strategy, as discussed further below. As a result, shareholders in the Fund may also pay a fee to the Financial Adviser for participating in the Adviser Managed Strategy, and such fee is not reflected in this fee table or the Example numbers below. You should consult with the Financial Adviser regarding the fees charged for participating in the Adviser Managed Strategy.
XML 12 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Tactical Offensive Fixed Income Fund (Prospectus Summary) | Tactical Offensive Fixed Income Fund
TACTICAL OFFENSIVE FIXED INCOME FUND
Investment Goal
Total return.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy and hold
Fund shares.
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) [1]
Annual Fund Operating Expenses
Tactical Offensive Fixed Income Fund
Management Fees 0.35%
Distribution (12b-1) Fees none
Other Expenses 0.51%
Total Annual Fund Operating Expenses [1] 0.86%
[1] Effective November 30, 2012, the Fund's administrator and/or its affiliates have contractually agreed to waive fees and reimburse expenses for a period of one year in order to keep total operating costs (exclusive of interest from borrowing, brokerage commissions, trustees' fees, taxes and other extraordinary expenses not incurred in the ordinary course of the Fund's business) from exceeding 0.89%. This contractual waiver and reimbursement will only apply if the Fund's total operating costs exceed 0.89% and will not affect the Fund's total operating costs if they are less than 0.89%. This fee waiver and reimbursement agreement shall remain in effect until November 30, 2013. The agreement may be amended or terminated only with the consent of the Board of Trustees.
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.
Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Tactical Offensive Fixed Income Fund
88 274
PORTFOLIO TURNOVER
The Fund will pay transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate
may indicate higher transaction costs and may result in higher taxes when Fund
shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the Example, affect the Fund's performance.
During the most recent fiscal year ended July 31, 2012, the Fund's portfolio
turnover rate was 310% of the average value of its portfolio.
Principal Investment Strategies
Adviser Managed Strategy Component

Only persons who are clients of the Financial Adviser (as defined below) and
who participate in the Adviser Managed Strategy should invest in the Fund. The
Fund may not be purchased by any other investor. The Fund is designed to be a
component of a broader strategy employed by a third party investment manager
(Financial Adviser) for the benefit of its clients. The Financial Adviser seeks
to take advantage of broad market changes by tactically shifting its clients'
assets among the Fund, the Tactical Offensive Equity Fund, the Tactical
Defensive Fund and a money market fund affiliated with the Fund, depending on
the Financial Adviser's evaluation of current market conditions (Adviser Managed
Strategy). The Financial Adviser is not the adviser to the Fund and is not
affiliated with SIMC, the adviser to the Fund. The Adviser Managed Strategy is
based on models developed by the Financial Adviser and is not subject to the
oversight of or input from SIMC.

When the Financial Adviser determines to reallocate its clients' assets to
one or more of the other funds that compose the Adviser Managed Strategy, the
Financial Adviser may request the redemption of all of the shares for which the
Financial Adviser exercises investment discretion. The Financial Adviser's
redemption request will cause the Fund to liquidate substantially all of its
assets in order to fulfill the redemption request. Once the shares for which the
Financial Adviser exercises discretion are redeemed, the Fund will no longer be
an active component of the Adviser Managed Strategy. When the Fund is not an
active component of the Adviser Managed Strategy, the Fund may invest up to 100%
of its remaining assets in cash, money market instruments, repurchase agreements
and other short-term obligations that would not ordinarily be consistent with
the Fund's investment goal. The Fund could be invested in these types of
investments for extended periods of time. At such times, SIMC will actively
manage the assets of the Fund, and no Sub-Adviser will manage the assets of the
Fund. SIMC, the Financial Adviser or one or more of their affiliates will be the
only investors in the Fund when the Fund is not an active component of the
Adviser Managed Strategy.

Investment Strategy

Under normal circumstances, the Fund will invest at least 80% of its net assets,
plus the amount of any borrowings for investment purposes, in fixed income
securities. The Fund will invest primarily in U.S. and foreign investment and
non-investment grade (also known as high yield securities or junk bonds) fixed
income securities, including emerging market, corporate and government fixed
income securities. These investments include U.S. Treasury obligations,
obligations issued by agencies or instrumentalities of the U.S. Government,
including obligations not guaranteed by the U.S. Treasury, such as obligations
issued by U.S. Government-sponsored entities, emerging market debt, asset-backed
securities, mortgage-backed securities, corporate bonds and debentures, commercial
paper, money market instruments, money market  funds, mortgage dollar rolls,
obligations of supranational entities issued or guaranteed by certain banks  and
zero coupon obligations and obligations of entities organized to restructure the
outstanding debt of such issuers. The Fund may invest in securities denominated
in U.S. dollars or in a foreign currency.

The Fund may also invest in futures contracts, forward contracts and swap
agreements (also called "swaps") for speculative or hedging purposes. Futures
contracts, forward contracts and swaps are used to synthetically obtain exposure
to the securities identified above or baskets of such securities and to manage
the Fund's interest rate duration and yield curve exposure. These derivatives
are also used to mitigate the Fund's overall level of risk and/or the Fund's
risk to particular types of securities, currencies or market segments. Interest
rate swaps are further used to manage the Fund's yield spread sensitivity. When
the Fund seeks to take an active long or short position with respect to the
likelihood of an event of default of a security or basket of securities, the
Fund may use credit default swaps. The Fund may buy credit default swaps in an
attempt to manage credit risk where the Fund has credit exposure to an issuer,
and the Fund may sell credit default swaps to more efficiently gain credit
exposure to such security or basket of securities.

The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers
with differing investment philosophies to manage portions of the Fund's
portfolio under the general supervision of SIMC. Sub-Advisers are selected for
their expertise in managing various kinds of U.S. fixed income securities, and
each Sub-Adviser makes investment decisions based on an analysis of yield
trends, credit ratings and other factors in accordance with its particular
discipline. In addition, SIMC will directly manage a portion of the Fund's
portfolio.

The Fund invests primarily in investment grade securities (those rated AAA, AA,
A or BBB-). However, the Fund may invest in non-rated securities or securities
rated below investment grade (BB+, B and CCC). Securities rated below investment
grade are sometimes referred to as "high yield" securities or "junk bonds." The
Fund's portfolio and the Fund's investments in particular fixed income securities
are not subject to any maturity or duration restrictions.

As stated above, when the Fund is not an active component of the Adviser Managed
Strategy, SIMC will act as the sole manager to the Fund, and no Sub-Advisers
will be used.

Due to its investment strategy, the Fund may buy and sell securities frequently.
Principal Risks
Adviser Managed Strategy Risk -- The Fund is a component of a broader investment
strategy employed by the Financial Adviser known as the Adviser Managed
Strategy. Pursuant to the Adviser Managed Strategy, the Financial Adviser
tactically shifts its clients' assets among the Fund, the Tactical Offensive
Equity Fund, the Tactical Defensive Fund and a money market fund affiliated with
the Fund. These asset shifts among the funds in the Adviser Managed Strategy
(i.e., an exchange of shares of one fund for shares of another fund) will be a
taxable event to an investor unless the investor is investing in the Fund
through a tax-deferred arrangement. As part of the Adviser Managed Strategy,
substantially all of the Fund's assets may be periodically sold and repurchased
at the direction of the Financial Adviser. These large redemptions and
repurchases will have significant effects on the management of the Fund and are
expected to result in increased portfolio turnover (and related transaction
costs), disruption of portfolio management strategies and the realization of
significant taxable gains. Accordingly, if notified of an upcoming redemption
request, the Fund may begin to liquidate all or substantially all of its assets
prior to the submission of the redemption request in an effort to raise the
necessary cash, and the Fund will not be invested pursuant to its investment
strategy during such time. When the Fund is required to rapidly liquidate a
substantial portion of its portfolio to satisfy a large redemption order placed
as part of the Adviser Managed Strategy, the Fund may be forced to sell securities
at below current market values or the Fund's selling activity may drive down the
market value of securities being sold. The Fund may also be required to sell
portfolio holdings at a time when the portfolio managers would otherwise not
recommend doing so. For example, if the Fund were to experience a large redemption
at a time of high market volatility or during a substantial market decline, the
Fund would be forced to liquidate securities even though the portfolio managers
may not otherwise choose to do so. When the Fund receives a large purchase order
as a result of the Adviser Managed Strategy, the Fund may be required to rapidly
purchase portfolio securities. This may cause the Fund to incur higher than normal
transaction costs or may require the Fund to purchase portfolio securities at above
current market values. Further, the Fund's purchasing activity may drive up the
market value of securities being purchased or the Fund may be required to purchase
portfolio holdings at a time when the portfolio managers would not otherwise
recommend doing so. When the Fund is not an active component of the Adviser Managed
Strategy, the Fund's investments may not be consistent with the Fund's investment
goal, and the Fund may miss investment opportunities because the assets necessary
to take advantage of such opportunities are tied up in other investments or have
been allocated to another fund within the Adviser Managed Strategy.

Asset-Backed Securities Risk -- Payment of principal and interest on asset-backed
securities is dependent largely on the cash flows generated by the assets
backing the securities, and asset-backed securities may not have the benefit of
any security interest in the related assets.

Below Investment Grade Securities Risk -- Fixed income securities rated below
investment grade (also known as high yield securities or junk bonds) involve
greater risks of default or downgrade and are more volatile than investment
grade securities because the prospect for repayment of principal and interest
of many of these securities is speculative.

Corporate Fixed Income Securities Risk -- Corporate fixed income securities
respond to economic developments, especially changes in interest rates, as well
as perceptions of the creditworthiness and business prospects of individual
issuers.

Credit Risk -- The risk that the issuer of a security or the counterparty to a
contract will default or otherwise become unable to honor a financial
obligation.

Currency Risk -- As a result of the Fund's investments in securities denominated
in and/or receiving revenues in foreign currencies, the Fund will be subject to
currency risk. This is the risk that those currencies will decline in value
relative to the U.S. dollar or, in the case of hedging positions, that the U.S.
dollar will decline in value relative to the currency hedged. In either event,
the dollar value of an investment in the Fund would be adversely affected.

Derivatives Risk -- The Fund's use of futures contracts, forward contracts and
swaps is subject to market risk, leverage risk, correlation risk and liquidity
risk. Leverage risk and liquidity risk are described below. Market risk is the
risk that the market value of an investment may move up and down, sometimes
rapidly and unpredictably. Correlation risk is the risk that changes in the
value of the derivative may not correlate perfectly with the underlying asset,
rate or index. The Fund's use of swaps and over-the-counter forward contracts is
also subject to credit risk and valuation risk. Valuation risk is the risk that
the derivative may be difficult to value and/or valued incorrectly. Credit risk
is described above. Each of these risks could cause the Fund to lose more than
the principal amount invested in a derivative instrument.

Fixed Income Market Risk -- The prices of the Fund's fixed income securities
respond to economic developments, particularly interest rate changes, as well
as to perceptions about the creditworthiness of individual issuers, including
governments and their agencies. In the case of foreign securities, price
fluctuations will reflect international economic and political events as well
as changes in currency valuations relative to the U.S. dollar.

Foreign Investment/Emerging Markets Risk -- The risk that non-U.S. securities may
be subject to additional risks due to, among other things, political, social and
economic developments abroad, currency movements and different legal, regulatory
and tax environments. These additional risks may be heightened with respect to
emerging market countries since political turmoil and rapid changes in economic
conditions are more likely to occur in these countries.

Foreign Sovereign Debt Securities Risk -- The risk that: (i) the governmental
entity that controls the repayment of sovereign debt may not be willing or able
to repay the principal and/or interest when it becomes due, due to factors such
as debt service burden, political constraints, cash flow problems and other
national economic factors; (ii) governments may default on their debt securities,
which may require holders of such securities to participate in debt rescheduling
or additional lending to defaulting governments; and (iii) there is no bankruptcy
proceeding by which defaulted sovereign debt may be collected in whole or in part.

Interest Rate Risk -- The risk that the value of fixed income securities,
including U.S. Government securities, will fall due to rising interest rates.

Leverage Risk -- The use of leverage can amplify the effects of market volatility
on the Fund's share price and may also cause the Fund to liquidate portfolio
positions when it would not be advantageous to do so in order to satisfy its
obligations.

Liquidity Risk -- The risk that certain securities may be difficult or impossible
to sell at the time and the price that the Fund would like. The Fund may have to
lower the price, sell other securities instead or forego an investment opportunity,
any of which could have a negative effect on Fund management or performance.

Mortgage-Backed Securities Risk -- Mortgage-backed securities are affected by,
among other things, interest rate changes and the possibility of prepayment of
the underlying mortgage loans. Mortgage-backed securities are also subject to
the risk that underlying borrowers will be unable to meet their obligations.

Mortgage Dollar Rolls Risk -- Mortgage dollar rolls are transactions in which the
Fund sells securities (usually mortgage-backed securities) and simultaneously
contracts to repurchase substantially similar, but not identical, securities on
a specified future date. If the broker-dealer to whom a Fund sells the security
becomes insolvent, the Fund's right to repurchase the security may be restricted.
Other risks involved in entering into mortgage dollar rolls include the risk that
the value of the security may change adversely over the term of the mortgage
dollar roll and that the security the Fund is required to repurchase may be worth
less than the security that the Fund originally held.

Portfolio Turnover Risk -- Due to its investment strategy, the Fund may buy and
sell securities frequently. This may result in higher transaction costs and
additional capital gains tax liabilities.

Prepayment Risk -- The risk that, with declining interest rates, fixed income
securities with stated interest rates may have the principal paid earlier than
expected, requiring the Fund to invest the proceeds at generally lower interest
rates.

U.S. Government Securities Risk -- Although U.S. Government securities are
considered to be among the safest investments, they are not guaranteed against
price movements due to changing interest rates. Obligations issued by some U.S.
Government agencies are backed by the U.S. Treasury, while others are backed
solely by the ability of the agency to borrow from the U.S. Treasury or by the
agency's own resources.

Loss of money is a risk of investing in the Fund.
Performance Information
The Fund commenced operations on February 25, 2011. Because the Fund did not
have a full calendar year of performance as of November 30, 2012, performance
results have not been provided.

Because of the Fund's unique manner of operation in following the Adviser
Managed Strategy, the Fund's performance may not be comparable to the
performance of other mutual funds that invest in similar securities.
[1] The Fund is an integral part of the Financial Adviser's Adviser Managed Strategy, as discussed further below. As a result, shareholders in the Fund may also pay a fee to the Financial Adviser for participating in the Adviser Managed Strategy, and such fee is not reflected in this fee table or the Example numbers below. You should consult with the Financial Adviser regarding the fees charged for participating in the Adviser Managed Strategy.
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XML 15 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Nov. 28, 2012
Registrant Name dei_EntityRegistrantName Adviser Managed Trust
Central Index Key dei_EntityCentralIndexKey 0001502608
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Nov. 28, 2012
Document Effective Date dei_DocumentEffectiveDate Nov. 30, 2012
Tactical Offensive Equity Fund (Prospectus Summary) | Tactical Offensive Equity Fund | Tactical Offensive Equity Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol TCOEX
Tactical Offensive Fixed Income Fund (Prospectus Summary) | Tactical Offensive Fixed Income Fund | Tactical Offensive Fixed Income Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol TCOFX
Tactical Defensive Fund (Prospectus Summary) | Tactical Defensive Fund | Tactical Defensive Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol TCDFX
XML 16 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Nov. 30, 2012
Tactical Defensive Fund (Prospectus Summary) | Tactical