As filed with the Securities and Exchange Commission on September 11, 2018
Securities Act File No. 333-174323
Investment Company Act File No. 811-22558
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 |
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Pre-Effective Amendment No. |
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Post-Effective Amendment No. 40 |
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REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 |
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Amendment No. 42 |
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(Check appropriate box or boxes) |
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Brookfield Investment Funds
(Exact Name of Registrant as Specified in Charter)
Brookfield Place, 250 Vesey Street
New York, New York 10281-1023
(Address of Principal Executive Offices) (Zip Code)
Registrants Telephone Number, including Area Code: (212) 549-8408
Brian F. Hurley, Esq.
Brookfield Investment Management Inc.
Brookfield Place, 250 Vesey Street
New York, New York 10281-1023
(Name and Address of Agent for Service)
Copies to:
Thomas D. Peeney, Esq. |
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Michael R. Rosella, Esq. |
Brookfield Investment Management Inc. |
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Paul Hastings LLP |
Brookfield Place |
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75 East 55th Street |
New York, New York 10281-1023 |
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Approximate Date of Proposed Public Offering: As soon as practicable after the effective date of this registration statement.
It is proposed that this filing will become effective: (check appropriate box)
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immediately upon filing pursuant to paragraph (b) |
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on (date) pursuant to paragraph (b) |
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60 days after filing pursuant to paragraph (a) (1) |
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on (date) pursuant to paragraph (a)(1) |
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75 days after filing pursuant to paragraph (a)(2) |
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on (date) pursuant to paragraph (a)(2) of Rule 485 |
If appropriate, check the following box:
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this post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
Explanatory Note: This Post-Effective Amendment (PEA) No. 40 to the Registration Statement of Brookfield Investment Funds (the Trust) on Form N-1A hereby incorporates Parts A, B and C from the Trusts PEA No. 39 on Form N-1A filed on September 5, 2018. This PEA No. 40 is filed for the sole purpose of submitting the XBRL exhibit for the risk/return summary first provided in PEA No. 39 to the Trusts Registration Statement.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant, BROOKFIELD INVESTMENT FUNDS, certifies that it meets all of the requirements for effectiveness of this Post-Effective Amendment No. 40 to its Registration Statement pursuant to Rule 485(b) of the Securities Act of 1933, as amended, and has duly caused this Post-Effective Amendment to its Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, and State of New York, on the 11th day of September, 2018.
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BROOKFIELD INVESTMENT FUNDS | |
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By: |
/s/ Brian F. Hurley |
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Brian F. Hurley |
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President |
Pursuant to the requirements of the Securities Act of 1933, as amended, this Post-Effective Amendment No. 40 to the Registration Statement has been signed below by the following persons in the capacities and on the date(s) indicated.
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DATE | |
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/s/ Brian F. Hurley |
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President and Principal Executive Officer |
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September 11, 2018 | |
Brian F. Hurley |
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/s/ Heather S. Goldman* |
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Trustee |
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September 11, 2018 | |
Heather S. Goldman |
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/s/ David Levi* |
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Trustee |
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September 11, 2018 | |
David Levi |
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/s/ Angela W. Ghantous |
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Treasurer (Principal Financial and Accounting Officer) |
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September 11, 2018 | |
Angela W. Ghantous |
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/s/ Edward A. Kuczmarski* |
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Trustee |
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September 11, 2018 | |
Edward A. Kuczmarski |
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/s/ Stuart A. McFarland* |
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Trustee |
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September 11, 2018 | |
Stuart McFarland |
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/s/ Louis P. Salvatore* |
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Trustee |
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September 11, 2018 | |
Louis P. Salvatore |
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*By: |
/s/ Brian F. Hurley |
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September 11, 2018 | |
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Brian F. Hurley |
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Attorney-In-Fact, pursuant to Power of Attorney |
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EXHIBIT INDEX
Index No. |
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Description of Exhibit |
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EX-101.INS |
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XBRL Instance Document |
EX-101.SCH |
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XBRL Taxonomy Extension Schema Document |
EX-101.CAL |
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XBRL Taxonomy Extension Calculation Linkbase |
EX-101.DEF |
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XBRL Taxonomy Extension Definition Linkbase |
EX-101.LAB |
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XBRL Taxonomy Extension Labels Linkbase |
EX-101.PRE |
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XBRL Taxonomy Extension Presentation Linkbase |
Document and Entity Information |
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Prospectus: | |
Document Type | 485BPOS |
Document Period End Date | Sep. 05, 2018 |
Registrant Name | Brookfield Investment Funds |
Central Index Key | 0001520738 |
Amendment Flag | false |
Document Creation Date | Sep. 05, 2018 |
Document Effective Date | Sep. 05, 2018 |
Prospectus Date | Sep. 05, 2018 |
Center Coast Brookfield Energy Infrastructure Fund | Class Y | |
Prospectus: | |
Trading Symbol | BEIYX |
Center Coast Brookfield Energy Infrastructure Fund | Class A | |
Prospectus: | |
Trading Symbol | BEIAX |
Center Coast Brookfield Energy Infrastructure Fund | Class C | |
Prospectus: | |
Trading Symbol | BEICX |
Center Coast Brookfield Energy Infrastructure Fund | Class I | |
Prospectus: | |
Trading Symbol | BEIIX |
Center Coast Brookfield Energy Infrastructure Fund | ||||||||||||||||||||||||||||||||||||||||||||||
Center Coast Brookfield Energy Infrastructure Fund | ||||||||||||||||||||||||||||||||||||||||||||||
INVESTMENT OBJECTIVE | ||||||||||||||||||||||||||||||||||||||||||||||
The Center Coast Brookfield Energy Infrastructure Fund (the "Fund") seeks total return through growth of capital and current income. | ||||||||||||||||||||||||||||||||||||||||||||||
FEES AND EXPENSES OF THE FUND | ||||||||||||||||||||||||||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Brookfield Investment Funds. You may also qualify for sales charge discounts or waivers through certain financial intermediaries. More information about these fees and other discounts is available from your financial professional and in the section entitled "Shareholder Account Information—Initial Sales Charges (Class A Shares Only)" on page 25 of the Fund's Prospectus and in Appendix A, "Sales Charge Reductions and Waivers Available Through Certain Intermediaries," attached to the Fund's Prospectus. | ||||||||||||||||||||||||||||||||||||||||||||||
Shareholder Fees (fees paid directly from your investment): | ||||||||||||||||||||||||||||||||||||||||||||||
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Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment): | ||||||||||||||||||||||||||||||||||||||||||||||
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EXAMPLE | ||||||||||||||||||||||||||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. 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 (taking into account the expense limitation for the first year). | ||||||||||||||||||||||||||||||||||||||||||||||
Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||||||||||||||||||||||||||||||||||||||||||||
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You would pay the following expenses if you did not redeem your shares: | ||||||||||||||||||||||||||||||||||||||||||||||
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PORTFOLIO TURNOVER | ||||||||||||||||||||||||||||||||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. | ||||||||||||||||||||||||||||||||||||||||||||||
PRINCIPAL INVESTMENT STRATEGIES | ||||||||||||||||||||||||||||||||||||||||||||||
Under normal circumstances, the Fund invests at least 80% of its net assets (including amounts borrowed for investment purposes) in securities of energy infrastructure companies consisting of master limited partnerships ("MLPs") and in other investments that have economic characteristics similar to such securities (collectively, "MLP Investments") (the "80% Policy"). The Fund's MLP Investments may include, but are not limited to, investments that have economic characteristics similar to MLPs in the form of common units issued by MLPs, preferred and convertible subordinated units of MLPs, securities that are derivatives of interests in MLPs, including equity securities of "MLP affiliates," which the Adviser defines as entities issuing MLP I-shares, securities of entities holding primarily general partner or managing member interests in MLPs, MLPs that are taxed as "C" corporations, and other entities that operate like MLPs and have economic characteristics like MLPs but are organized and taxed as "C" corporations or organized as limited liability companies. The Fund defines an energy infrastructure company as a company that derives at least 50% of its revenues or operating income from the ownership, operation or providing services for the operation of energy infrastructure assets, including assets used in transporting, processing, storing, distributing, mining or marketing natural gas, natural gas liquids, coal, crude oil, refined products or electricity, or exploring, developing, generating, managing or producing such commodities. For purposes of the 80% Policy, energy infrastructure companies include investment companies that invest in MLP Investments. The Fund intends to invest in MLP Investments that the Adviser believes will have strong risk adjusted returns and stable and growing cash distributions. The Fund concentrates (i.e., invests more than 25% of its total assets) in securities of companies in the energy infrastructure industry and the energy industry, and the Fund intends to make the majority of its investments in "midstream" MLP Investments. Midstream MLP Investments are generally engaged in the treatment, gathering, compression, processing, transportation, transmission, fractionation, storage and terminalling of natural gas, natural gas liquids, crude oil, refined products or coal. The Fund may invest in securities of MLP Investments of any capitalization, and may include foreign securities. Pursuant to tax regulations, the Fund may invest no more than 25% of its total assets in the securities of MLPs and other entities treated as qualified publicly traded partnerships, which are treated as partnerships for U.S. federal income tax purposes and are defined more specifically in the provisions applicable to regulated investment companies ("RICs"). The Fund intends to be taxed as a RIC and comply with all RIC-related restrictions, thereby avoiding taxation as a C-corporation under the U.S. Internal Revenue Code of 1986, as amended (the "Code"). In addition, the Fund may invest up to 20% of its total assets in debt securities of any issuers, including securities which may be rated below investment grade ("junk bonds") by a nationally recognized statistical rating organization ("NRSRO") or determined by the Adviser to be of comparable credit quality. The Fund will not have any duration or weighted average maturity restrictions. The Fund may also invest up to 15% of net assets in illiquid securities, and may write call options on securities that are held in the portfolio (i.e., covered calls). The Fund may invest in other investment companies to the extent permitted by the Investment Company Act of 1940, as amended (the "1940 Act"). The Fund may invest in permissible securities without regard to the market capitalization of the issuer of such security. The Fund may change the 80% Policy without shareholder approval. The Fund will provide shareholders with written notice at least 60 days prior to the implementation of any such changes. The Fund is non-diversified which means it may focus its investments in a limited number of issuers. The Adviser seeks to identify a portfolio of high quality MLP Investments. In managing the Fund's assets, the Adviser uses a disciplined investment process focused on due diligence from the perspective of an MLP owner, operator and acquirer. • The Adviser first establishes a universe of high quality MLP Investments (i.e., MLP Investments with strong risk adjusted returns and stable and growing cash distributions) utilizing a proprietary multi-factor model, and then strategically weights those companies using financial and valuation analysis centered on quantitative factors including cash flow, yield and relative valuation to establish a valuation target. • Next, the Adviser evaluates asset quality, considering factors such as contract structure, operating risk, competitive environment and growth potential. The Adviser also assesses management quality, drawing on its previous experience with many of the MLP Investments' management teams to evaluate their financial discipline, level of general partner support, operational expertise, strength of their business plans and ability to execute those plans. The Adviser also includes in the diligence process an assessment of the trading dynamics of the securities issued by the MLP Investments and other issuers, including liquidity, identification of fund flow from institutional investors with large holdings in the MLP Investments and other issuers, equity overhang (i.e., the difference between funds raised and funds invested) and float (i.e., the number of a company's shares issued and available to be traded by the general public). • The Adviser then ranks, weights and invests in MLP Investments based on its assessment of the durability of their cash flows, relative market valuation and growth potential. The Adviser generally sells an investment if it determines that the characteristics that resulted in the original purchase decision have changed materially, the investment is no longer earning a return commensurate with its risk, the Adviser identifies other investments with more attractive valuations and return characteristics, or the Fund requires cash to meet redemptions. | ||||||||||||||||||||||||||||||||||||||||||||||
PRINCIPAL RISKS OF INVESTING IN THE FUND | ||||||||||||||||||||||||||||||||||||||||||||||
Risk is inherent in all investing. The value of your investment in the Fund, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time. You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments. The following summarizes the principal risks that have been identified for the Fund. Adviser Investment Risk. The Adviser and its affiliates (each, an "Adviser Investor") may from time to time own a significant amount of the Fund's shares (an "Adviser Investment"). An Adviser Investor may make an Adviser Investment to enable the Fund to reach critical mass or because the Adviser Investor has capital to invest and wants exposure to the Fund's investment strategy or for other reasons. If an Adviser Investment is substantial relative to the Fund's overall asset size, a partial or complete redemption of the Adviser Investment, which may occur at any time, including at the time of other inflows or outflows, may have a material adverse effect on the Fund's expense ratio, portfolio turnover and the overall ability to manage the Fund. The Adviser Investor reserves the right to redeem its Adviser Investment at any time in accordance with applicable law in its sole and absolute discretion. Energy Industry Concentration Risks. A substantial portion of the MLP Investments in which the Fund invests are engaged primarily in the energy industry. As a result, the Fund will be concentrated in the energy industry, and will therefore be susceptible to adverse economic, environmental or regulatory occurrences affecting the energy industry. Risks associated with investments in MLP Investments and other companies operating in the energy industry include, but are not limited to, the following: • Acquisition Risk. MLPs owned by the Fund may depend on their ability to make acquisitions that increase adjusted operating surplus per unit in order to increase distributions to unit holders. • Catastrophic Event Risk. MLP Investments and other companies operating in the energy industry are subject to many dangers inherent in the production, exploration, management, transportation, processing and distribution of natural gas, natural gas liquids, crude oil, refined petroleum and petroleum products and other hydrocarbons. Any occurrence of a catastrophic event, such as a terrorist attack, could bring about a limitation, suspension or discontinuation of the operations of MLP Investments and other companies operating in the energy industry. • Commodity Risk. MLP Investments and other companies operating in the energy industry may be affected by fluctuations in the prices of energy commodities. Fluctuations in energy commodity prices would directly impact companies that own such energy commodities and could indirectly impact MLP Investments that engage in transportation, storage, processing, distribution or marketing of such energy commodities. • Depletion Risk. MLP Investments and other energy companies engaged in the exploration, development, management, gathering or production of energy commodities face the risk that commodity reserves are depleted over time. Such companies seek to increase their reserves through expansion of their current businesses, acquisitions, further development of their existing sources of energy commodities or exploration of new sources of energy commodities or by entering into long-term contracts for additional reserves; however, there are risks associated with each of these potential strategies. • Environmental and Regulatory Risk. MLP Investments and other companies operating in the energy industry are subject to significant regulation of their operations by federal, state and local governmental agencies. Additionally, voluntary initiatives and mandatory controls have been adopted or are being studied and evaluated, both in the United States and worldwide, to address current potentially hazardous environmental issues, including hydraulic fracturing and related waste disposal and geological concerns, as well as those that may develop in the future. • Extreme Weather Risk. Weather plays a role in the seasonality of some MLP Investments' cash flows, and extreme weather conditions could adversely affect performance and cash flows of those MLP Investments. • Interest Rate Risk. Rising interest rates could increase the costs of capital thereby increasing operating costs and reducing the ability of MLP Investments and other companies operating in the energy industry to carry out acquisitions or expansions in a cost-effective manner. Rising interest rates may also impact the price of the securities of MLP Investments and other companies operating in the energy industry as the yields on alternative investments increase. • Supply and Demand Risk. MLP Investments and other companies operating in the energy industry may be impacted by the levels of supply and demand for energy commodities. Equity Securities Risk. MLP units and other equity securities held by the Fund can be affected by general market or economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, changes in interest rates, and the particular circumstances and performance of particular companies whose securities the Fund holds. Fixed Income Risk. The prices of fixed income securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the credit risk of individual issuers. Increases in interest rates can cause the prices of the Fund's fixed income securities to decline, and the level of current income from a portfolio of fixed income securities may decline in certain interest rate environments. These risks may be greater in the current market environment because interest rates are near historically low levels. It is anticipated that there will be less governmental action in the near future to maintain low interest rates. The negative impact on fixed income securities from the resulting rate increases for that and other reasons may be swift and significant. Following the financial crisis of 2008, the Federal Reserve Board lowered the target range for the federal funds rate to near zero and implemented quantitative easing programs. Quantitative easing ended in 2014. In a statement issued in March 2015, the Federal Open Market Committee stated that it anticipated that it would be appropriate to raise the target range for the federal funds rate when it had seen some further improvement in the labor market and was reasonably confident that inflation would move back to its two percent objective over the medium term. In June 2018, the Federal Reserve Board increased the federal funds rate by 25 basis points, the second such rate increase in 2018. To the extent the Federal Reserve Board continues to raise rates, there is a risk that the fixed-income markets may experience increased volatility and that the liquidity of certain Fund investments may be reduced. Foreign (Non-U.S.) Securities Risk. Risks of investing in foreign securities include currency risks, future political and economic developments and possible imposition of foreign withholding taxes on income payable on the securities. In addition, there may be less publicly available information about a foreign issuer than about a domestic issuer, and foreign issuers may not be subject to the same accounting, auditing and financial recordkeeping standards and requirements as domestic issuers. Energy Infrastructure Industry Concentration Risk. Under normal circumstances, the Fund will concentrate its investments in the energy infrastructure industry. The primary risks inherent in investments in the energy infrastructure industry include the following: (1) the performance and level of distributions of MLPs can be affected by direct and indirect commodity price exposure, (2) a decrease in market demand for natural gas or other energy commodities could adversely affect MLP revenues or cash flows, (3) energy infrastructure assets deplete over time and must be replaced and (4) a rising interest rate environment could increase an MLP's cost of capital. The change in presidential administration could significantly impact the regulation of United States financial markets and dramatically alter existing trade, tax, energy and infrastructure policies, among others. It is not possible to predict what, if any, changes will be made or their potential effect on the economy, securities markets, or financial stability of the United States, or on the energy, natural resources, real estate and other markets. Additionally, actions taken may impact different sectors of the energy and natural resources markets in disparate ways or may impact specific issuers in a given sector in differing ways. The Adviser cannot predict the effects of changing regulations or policies on the Fund's portfolio, and the Fund may be affected by governmental action in ways that are not foreseeable. There is a possibility that such actions could have a significant adverse effect on the Fund and its ability to achieve its investment objective. At any time after the date of this Prospectus, legislation may be enacted that could negatively affect the assets of the Fund or the issuers of such assets. Legislation or regulation may change the way in which the Fund itself is regulated. The Adviser cannot predict the effects of any new governmental regulation that may be implemented, and there can be no assurance that any new governmental regulation will not adversely affect the Fund's ability to achieve its investment objective. Investment Risk. An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest. Issuer Risk. Issuer risk is the risk that the value of a security may decline for a reason directly related to the issuer, such as management performance, financial leverage and reduced demand for the issuer's goods or service. "Junk" Bond Risk. Debt securities that are below investment grade, called "junk bonds," generally offer a higher yield than is offered by higher rated securities, but are speculative, have a higher risk of default or are already in default, tend to be less liquid and are more difficult to value than higher grade securities. Junk bonds tend to be volatile and more susceptible to adverse events and negative sentiments. Liquidity Risk. MLP common units and equity securities of MLP affiliates, including I-Shares, often trade on national securities exchanges. However, certain securities, including those of issuers with smaller capitalizations, may trade less frequently. The market movements of such securities with limited trading volumes may be more abrupt or erratic than those with higher trading volumes. As a result of the limited liquidity of such securities, the Fund could have greater difficulty selling such securities at the time and price that the Fund would like and may be limited in its ability to make alternative investments. This may also adversely affect the Fund's ability to remit dividend payments to shareholders. The Fund may not purchase or hold securities that are illiquid or are otherwise not readily marketable if, in the aggregate, more than 15% of its net assets would be invested in illiquid securities. Management Risk. The Fund has an actively managed portfolio. The Adviser applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these will produce the desired results. Market Risk. The values of securities held by the Fund may fall due to general market conditions, such as real or perceived adverse economic, political, or regulatory conditions, inflation, changes in interest or currency rates or adverse investor sentiment. Adverse market conditions may be prolonged and may not have the same impact on all types of securities. The values of securities may fall due to factors affecting a particular issuer, industry or the securities market as a whole. The Fund may experience a substantial or complete loss on any individual security. New Fund Risk. The Fund is new with no operating history and there can be no assurance that the Fund will grow or maintain an economically viable size, in which case the Board of Trustees of the Fund may determine to liquidate the Fund. Non-Diversification Risk. The Fund is classified as a "non-diversified" investment company under the 1940 Act, which means the Fund is not limited by the 1940 Act in the proportion of its assets that may be invested in the securities of a single issuer. As a non-diversified investment company, the Fund may invest in the securities of individual issuers to a greater degree than a diversified investment company. As a result, the Fund may be more vulnerable to events affecting a single issuer and therefore, subject to greater volatility than a fund that is more broadly diversified. Accordingly, an investment in the Fund may present greater risk to an investor than an investment in a diversified company. Regulated Investment Company Tax Risk. The Fund intends to qualify and elect tax treatment as a RIC. This qualification imposes numerous requirements on the Fund, including with respect to its investments and distribution policies. In addition, the tax rules related to RICs limit certain types of investments in MLPs to 25% of the total assets of the Fund. See "Tax Consequences" in this Prospectus and "Taxes" in the SAI (defined below). Risks of Investing in MLP Units. An investment in MLP units involves additional risks from a similar investment in equity securities, such as common stock, of a corporation. As compared to common shareholders of a corporation, holders of MLP units have more limited control and limited rights to vote on matters affecting the partnership. Additional risks inherent to investments in MLP units include cash flow risk, tax risk, risk associated with a potential conflict of interest between unit holders and the MLP's general partner, and capital markets risk. Small- and Mid-Capitalization Risk. The risk that returns from small- and mid-capitalization stocks trail returns from the overall stock market. Historically, these stocks have been more volatile in price than large-capitalization stocks. Small- and mid-capitalization companies often have limited product lines, markets, distribution channels or financial resources; and the management of such companies may be dependent upon one or a few key people. The market movements of equity securities issued by MLP Investments with smaller capitalizations may be more abrupt or erratic than the market movements of equity securities of larger, more established companies or the stock market in general. Historically, smaller capitalization companies have sometimes gone through extended periods when they did not perform as well as larger companies. In addition, equity securities of smaller capitalization companies generally are less liquid than those of larger companies. This means that the Fund could have greater difficulty selling such securities at the time and price than the Fund would like. Tax Risks. The Fund's ability to meet its objective will depend, in part, on the level of taxable income and distributions received from the equity securities in which the Fund invests. If an MLP were treated as a corporation for federal income tax purposes, such MLP would be obligated to pay federal income tax on its income at the corporate tax rate and the amount of cash available for distribution would be reduced and distributions received by the Fund would be taxed under federal income tax laws applicable to corporate dividends (as dividend income, return of capital, or capital gain). MLPs restructuring their debts as a result of a decline in oil prices and a decline in value of energy-related properties could result in the receipt of cancellation of debt income by MLP partners, including the Fund. The receipt of this taxable income by the Fund will result in increased investment company taxable income required to be distributed by the Fund, without corresponding cash distributions from the MLPs. The Fund might need to sell assets that it might not otherwise wish to sell in order to pay the required distributions. In addition, the Fund faces the risk that it could fail to qualify as a RIC under Subchapter M of the Code, and the risk of changes in tax laws or regulations, or interpretations thereof, which could adversely affect the Fund, the MLP Investments and other portfolio companies in which the Fund invests. Effective for taxable years beginning after December 31, 2017, the Tax Cuts and Jobs Act of 2017 generally allows individuals and certain other non-corporate entities, such as partnerships, a deduction for 20% of "qualified publicly traded partnership income" such as income from MLPs. However, the new law does not include any provision for a RIC to pass the character of its qualified publicly traded partnership income through to its shareholders. As a result, an investor who invests directly in MLPs will be able to receive the benefit of that deduction, while a shareholder in the Fund will not. The federal, state, local and foreign tax consequences of an investment in Fund shares will depend on the facts of each investor's situation. Investors are encouraged to consult their own tax advisors regarding the specific tax consequences that may affect such investors. The Fund's shares will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective. An investment in the Fund is not a deposit with a bank and is not insured or guaranteed by the FDIC or any other government agency. | ||||||||||||||||||||||||||||||||||||||||||||||
PERFORMANCE | ||||||||||||||||||||||||||||||||||||||||||||||
The Fund has not been in operation for a full calendar year. As a result, no performance information is available. |
Label | Element | Value | ||||||||
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Center Coast Brookfield Energy Infrastructure Fund | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | Center Coast Brookfield Energy Infrastructure Fund | ||||||||
Objective [Heading] | rr_ObjectiveHeading | INVESTMENT OBJECTIVE | ||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Center Coast Brookfield Energy Infrastructure Fund (the "Fund") seeks total return through growth of capital and current income. |
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Expense [Heading] | rr_ExpenseHeading | FEES AND EXPENSES OF THE FUND | ||||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Brookfield Investment Funds. You may also qualify for sales charge discounts or waivers through certain financial intermediaries. More information about these fees and other discounts is available from your financial professional and in the section entitled "Shareholder Account Information—Initial Sales Charges (Class A Shares Only)" on page 25 of the Fund's Prospectus and in Appendix A, "Sales Charge Reductions and Waivers Available Through Certain Intermediaries," attached to the Fund's Prospectus. |
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Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment): | ||||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment): | ||||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | PORTFOLIO TURNOVER | ||||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. |
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Expense Breakpoint Discounts [Text] | rr_ExpenseBreakpointDiscounts | You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Brookfield Investment Funds. | ||||||||
Expense Breakpoint, Minimum Investment Required [Amount] | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 50,000 | ||||||||
Other Expenses, New Fund, Based on Estimates [Text] | rr_OtherExpensesNewFundBasedOnEstimates | Other expenses are based on estimated amounts for the current fiscal year. | ||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | EXAMPLE | ||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, and that the Fund's operating expenses remain the same (taking into account the expense limitation for the first year). |
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Expense Example by, Year, Caption [Text] | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||||||
Expense Example, No Redemption, By Year, Caption [Text] | rr_ExpenseExampleNoRedemptionByYearCaption | You would pay the following expenses if you did not redeem your shares: | ||||||||
Strategy [Heading] | rr_StrategyHeading | PRINCIPAL INVESTMENT STRATEGIES | ||||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | Under normal circumstances, the Fund invests at least 80% of its net assets (including amounts borrowed for investment purposes) in securities of energy infrastructure companies consisting of master limited partnerships ("MLPs") and in other investments that have economic characteristics similar to such securities (collectively, "MLP Investments") (the "80% Policy"). The Fund's MLP Investments may include, but are not limited to, investments that have economic characteristics similar to MLPs in the form of common units issued by MLPs, preferred and convertible subordinated units of MLPs, securities that are derivatives of interests in MLPs, including equity securities of "MLP affiliates," which the Adviser defines as entities issuing MLP I-shares, securities of entities holding primarily general partner or managing member interests in MLPs, MLPs that are taxed as "C" corporations, and other entities that operate like MLPs and have economic characteristics like MLPs but are organized and taxed as "C" corporations or organized as limited liability companies. The Fund defines an energy infrastructure company as a company that derives at least 50% of its revenues or operating income from the ownership, operation or providing services for the operation of energy infrastructure assets, including assets used in transporting, processing, storing, distributing, mining or marketing natural gas, natural gas liquids, coal, crude oil, refined products or electricity, or exploring, developing, generating, managing or producing such commodities. For purposes of the 80% Policy, energy infrastructure companies include investment companies that invest in MLP Investments. The Fund intends to invest in MLP Investments that the Adviser believes will have strong risk adjusted returns and stable and growing cash distributions. The Fund concentrates (i.e., invests more than 25% of its total assets) in securities of companies in the energy infrastructure industry and the energy industry, and the Fund intends to make the majority of its investments in "midstream" MLP Investments. Midstream MLP Investments are generally engaged in the treatment, gathering, compression, processing, transportation, transmission, fractionation, storage and terminalling of natural gas, natural gas liquids, crude oil, refined products or coal. The Fund may invest in securities of MLP Investments of any capitalization, and may include foreign securities. Pursuant to tax regulations, the Fund may invest no more than 25% of its total assets in the securities of MLPs and other entities treated as qualified publicly traded partnerships, which are treated as partnerships for U.S. federal income tax purposes and are defined more specifically in the provisions applicable to regulated investment companies ("RICs"). The Fund intends to be taxed as a RIC and comply with all RIC-related restrictions, thereby avoiding taxation as a C-corporation under the U.S. Internal Revenue Code of 1986, as amended (the "Code"). In addition, the Fund may invest up to 20% of its total assets in debt securities of any issuers, including securities which may be rated below investment grade ("junk bonds") by a nationally recognized statistical rating organization ("NRSRO") or determined by the Adviser to be of comparable credit quality. The Fund will not have any duration or weighted average maturity restrictions. The Fund may also invest up to 15% of net assets in illiquid securities, and may write call options on securities that are held in the portfolio (i.e., covered calls). The Fund may invest in other investment companies to the extent permitted by the Investment Company Act of 1940, as amended (the "1940 Act"). The Fund may invest in permissible securities without regard to the market capitalization of the issuer of such security. The Fund may change the 80% Policy without shareholder approval. The Fund will provide shareholders with written notice at least 60 days prior to the implementation of any such changes. The Fund is non-diversified which means it may focus its investments in a limited number of issuers. The Adviser seeks to identify a portfolio of high quality MLP Investments. In managing the Fund's assets, the Adviser uses a disciplined investment process focused on due diligence from the perspective of an MLP owner, operator and acquirer. • The Adviser first establishes a universe of high quality MLP Investments (i.e., MLP Investments with strong risk adjusted returns and stable and growing cash distributions) utilizing a proprietary multi-factor model, and then strategically weights those companies using financial and valuation analysis centered on quantitative factors including cash flow, yield and relative valuation to establish a valuation target. • Next, the Adviser evaluates asset quality, considering factors such as contract structure, operating risk, competitive environment and growth potential. The Adviser also assesses management quality, drawing on its previous experience with many of the MLP Investments' management teams to evaluate their financial discipline, level of general partner support, operational expertise, strength of their business plans and ability to execute those plans. The Adviser also includes in the diligence process an assessment of the trading dynamics of the securities issued by the MLP Investments and other issuers, including liquidity, identification of fund flow from institutional investors with large holdings in the MLP Investments and other issuers, equity overhang (i.e., the difference between funds raised and funds invested) and float (i.e., the number of a company's shares issued and available to be traded by the general public). • The Adviser then ranks, weights and invests in MLP Investments based on its assessment of the durability of their cash flows, relative market valuation and growth potential. The Adviser generally sells an investment if it determines that the characteristics that resulted in the original purchase decision have changed materially, the investment is no longer earning a return commensurate with its risk, the Adviser identifies other investments with more attractive valuations and return characteristics, or the Fund requires cash to meet redemptions. |
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Risk [Heading] | rr_RiskHeading | PRINCIPAL RISKS OF INVESTING IN THE FUND | ||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | Risk is inherent in all investing. The value of your investment in the Fund, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time. You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments. The following summarizes the principal risks that have been identified for the Fund. Adviser Investment Risk. The Adviser and its affiliates (each, an "Adviser Investor") may from time to time own a significant amount of the Fund's shares (an "Adviser Investment"). An Adviser Investor may make an Adviser Investment to enable the Fund to reach critical mass or because the Adviser Investor has capital to invest and wants exposure to the Fund's investment strategy or for other reasons. If an Adviser Investment is substantial relative to the Fund's overall asset size, a partial or complete redemption of the Adviser Investment, which may occur at any time, including at the time of other inflows or outflows, may have a material adverse effect on the Fund's expense ratio, portfolio turnover and the overall ability to manage the Fund. The Adviser Investor reserves the right to redeem its Adviser Investment at any time in accordance with applicable law in its sole and absolute discretion. Energy Industry Concentration Risks. A substantial portion of the MLP Investments in which the Fund invests are engaged primarily in the energy industry. As a result, the Fund will be concentrated in the energy industry, and will therefore be susceptible to adverse economic, environmental or regulatory occurrences affecting the energy industry. Risks associated with investments in MLP Investments and other companies operating in the energy industry include, but are not limited to, the following: • Acquisition Risk. MLPs owned by the Fund may depend on their ability to make acquisitions that increase adjusted operating surplus per unit in order to increase distributions to unit holders. • Catastrophic Event Risk. MLP Investments and other companies operating in the energy industry are subject to many dangers inherent in the production, exploration, management, transportation, processing and distribution of natural gas, natural gas liquids, crude oil, refined petroleum and petroleum products and other hydrocarbons. Any occurrence of a catastrophic event, such as a terrorist attack, could bring about a limitation, suspension or discontinuation of the operations of MLP Investments and other companies operating in the energy industry. • Commodity Risk. MLP Investments and other companies operating in the energy industry may be affected by fluctuations in the prices of energy commodities. Fluctuations in energy commodity prices would directly impact companies that own such energy commodities and could indirectly impact MLP Investments that engage in transportation, storage, processing, distribution or marketing of such energy commodities. • Depletion Risk. MLP Investments and other energy companies engaged in the exploration, development, management, gathering or production of energy commodities face the risk that commodity reserves are depleted over time. Such companies seek to increase their reserves through expansion of their current businesses, acquisitions, further development of their existing sources of energy commodities or exploration of new sources of energy commodities or by entering into long-term contracts for additional reserves; however, there are risks associated with each of these potential strategies. • Environmental and Regulatory Risk. MLP Investments and other companies operating in the energy industry are subject to significant regulation of their operations by federal, state and local governmental agencies. Additionally, voluntary initiatives and mandatory controls have been adopted or are being studied and evaluated, both in the United States and worldwide, to address current potentially hazardous environmental issues, including hydraulic fracturing and related waste disposal and geological concerns, as well as those that may develop in the future. • Extreme Weather Risk. Weather plays a role in the seasonality of some MLP Investments' cash flows, and extreme weather conditions could adversely affect performance and cash flows of those MLP Investments. • Interest Rate Risk. Rising interest rates could increase the costs of capital thereby increasing operating costs and reducing the ability of MLP Investments and other companies operating in the energy industry to carry out acquisitions or expansions in a cost-effective manner. Rising interest rates may also impact the price of the securities of MLP Investments and other companies operating in the energy industry as the yields on alternative investments increase. • Supply and Demand Risk. MLP Investments and other companies operating in the energy industry may be impacted by the levels of supply and demand for energy commodities. Equity Securities Risk. MLP units and other equity securities held by the Fund can be affected by general market or economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, changes in interest rates, and the particular circumstances and performance of particular companies whose securities the Fund holds. Fixed Income Risk. The prices of fixed income securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the credit risk of individual issuers. Increases in interest rates can cause the prices of the Fund's fixed income securities to decline, and the level of current income from a portfolio of fixed income securities may decline in certain interest rate environments. These risks may be greater in the current market environment because interest rates are near historically low levels. It is anticipated that there will be less governmental action in the near future to maintain low interest rates. The negative impact on fixed income securities from the resulting rate increases for that and other reasons may be swift and significant. Following the financial crisis of 2008, the Federal Reserve Board lowered the target range for the federal funds rate to near zero and implemented quantitative easing programs. Quantitative easing ended in 2014. In a statement issued in March 2015, the Federal Open Market Committee stated that it anticipated that it would be appropriate to raise the target range for the federal funds rate when it had seen some further improvement in the labor market and was reasonably confident that inflation would move back to its two percent objective over the medium term. In June 2018, the Federal Reserve Board increased the federal funds rate by 25 basis points, the second such rate increase in 2018. To the extent the Federal Reserve Board continues to raise rates, there is a risk that the fixed-income markets may experience increased volatility and that the liquidity of certain Fund investments may be reduced. Foreign (Non-U.S.) Securities Risk. Risks of investing in foreign securities include currency risks, future political and economic developments and possible imposition of foreign withholding taxes on income payable on the securities. In addition, there may be less publicly available information about a foreign issuer than about a domestic issuer, and foreign issuers may not be subject to the same accounting, auditing and financial recordkeeping standards and requirements as domestic issuers. Energy Infrastructure Industry Concentration Risk. Under normal circumstances, the Fund will concentrate its investments in the energy infrastructure industry. The primary risks inherent in investments in the energy infrastructure industry include the following: (1) the performance and level of distributions of MLPs can be affected by direct and indirect commodity price exposure, (2) a decrease in market demand for natural gas or other energy commodities could adversely affect MLP revenues or cash flows, (3) energy infrastructure assets deplete over time and must be replaced and (4) a rising interest rate environment could increase an MLP's cost of capital. The change in presidential administration could significantly impact the regulation of United States financial markets and dramatically alter existing trade, tax, energy and infrastructure policies, among others. It is not possible to predict what, if any, changes will be made or their potential effect on the economy, securities markets, or financial stability of the United States, or on the energy, natural resources, real estate and other markets. Additionally, actions taken may impact different sectors of the energy and natural resources markets in disparate ways or may impact specific issuers in a given sector in differing ways. The Adviser cannot predict the effects of changing regulations or policies on the Fund's portfolio, and the Fund may be affected by governmental action in ways that are not foreseeable. There is a possibility that such actions could have a significant adverse effect on the Fund and its ability to achieve its investment objective. At any time after the date of this Prospectus, legislation may be enacted that could negatively affect the assets of the Fund or the issuers of such assets. Legislation or regulation may change the way in which the Fund itself is regulated. The Adviser cannot predict the effects of any new governmental regulation that may be implemented, and there can be no assurance that any new governmental regulation will not adversely affect the Fund's ability to achieve its investment objective. Investment Risk. An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest. Issuer Risk. Issuer risk is the risk that the value of a security may decline for a reason directly related to the issuer, such as management performance, financial leverage and reduced demand for the issuer's goods or service. "Junk" Bond Risk. Debt securities that are below investment grade, called "junk bonds," generally offer a higher yield than is offered by higher rated securities, but are speculative, have a higher risk of default or are already in default, tend to be less liquid and are more difficult to value than higher grade securities. Junk bonds tend to be volatile and more susceptible to adverse events and negative sentiments. Liquidity Risk. MLP common units and equity securities of MLP affiliates, including I-Shares, often trade on national securities exchanges. However, certain securities, including those of issuers with smaller capitalizations, may trade less frequently. The market movements of such securities with limited trading volumes may be more abrupt or erratic than those with higher trading volumes. As a result of the limited liquidity of such securities, the Fund could have greater difficulty selling such securities at the time and price that the Fund would like and may be limited in its ability to make alternative investments. This may also adversely affect the Fund's ability to remit dividend payments to shareholders. The Fund may not purchase or hold securities that are illiquid or are otherwise not readily marketable if, in the aggregate, more than 15% of its net assets would be invested in illiquid securities. Management Risk. The Fund has an actively managed portfolio. The Adviser applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these will produce the desired results. Market Risk. The values of securities held by the Fund may fall due to general market conditions, such as real or perceived adverse economic, political, or regulatory conditions, inflation, changes in interest or currency rates or adverse investor sentiment. Adverse market conditions may be prolonged and may not have the same impact on all types of securities. The values of securities may fall due to factors affecting a particular issuer, industry or the securities market as a whole. The Fund may experience a substantial or complete loss on any individual security. New Fund Risk. The Fund is new with no operating history and there can be no assurance that the Fund will grow or maintain an economically viable size, in which case the Board of Trustees of the Fund may determine to liquidate the Fund. Non-Diversification Risk. The Fund is classified as a "non-diversified" investment company under the 1940 Act, which means the Fund is not limited by the 1940 Act in the proportion of its assets that may be invested in the securities of a single issuer. As a non-diversified investment company, the Fund may invest in the securities of individual issuers to a greater degree than a diversified investment company. As a result, the Fund may be more vulnerable to events affecting a single issuer and therefore, subject to greater volatility than a fund that is more broadly diversified. Accordingly, an investment in the Fund may present greater risk to an investor than an investment in a diversified company. Regulated Investment Company Tax Risk. The Fund intends to qualify and elect tax treatment as a RIC. This qualification imposes numerous requirements on the Fund, including with respect to its investments and distribution policies. In addition, the tax rules related to RICs limit certain types of investments in MLPs to 25% of the total assets of the Fund. See "Tax Consequences" in this Prospectus and "Taxes" in the SAI (defined below). Risks of Investing in MLP Units. An investment in MLP units involves additional risks from a similar investment in equity securities, such as common stock, of a corporation. As compared to common shareholders of a corporation, holders of MLP units have more limited control and limited rights to vote on matters affecting the partnership. Additional risks inherent to investments in MLP units include cash flow risk, tax risk, risk associated with a potential conflict of interest between unit holders and the MLP's general partner, and capital markets risk. Small- and Mid-Capitalization Risk. The risk that returns from small- and mid-capitalization stocks trail returns from the overall stock market. Historically, these stocks have been more volatile in price than large-capitalization stocks. Small- and mid-capitalization companies often have limited product lines, markets, distribution channels or financial resources; and the management of such companies may be dependent upon one or a few key people. The market movements of equity securities issued by MLP Investments with smaller capitalizations may be more abrupt or erratic than the market movements of equity securities of larger, more established companies or the stock market in general. Historically, smaller capitalization companies have sometimes gone through extended periods when they did not perform as well as larger companies. In addition, equity securities of smaller capitalization companies generally are less liquid than those of larger companies. This means that the Fund could have greater difficulty selling such securities at the time and price than the Fund would like. Tax Risks. The Fund's ability to meet its objective will depend, in part, on the level of taxable income and distributions received from the equity securities in which the Fund invests. If an MLP were treated as a corporation for federal income tax purposes, such MLP would be obligated to pay federal income tax on its income at the corporate tax rate and the amount of cash available for distribution would be reduced and distributions received by the Fund would be taxed under federal income tax laws applicable to corporate dividends (as dividend income, return of capital, or capital gain). MLPs restructuring their debts as a result of a decline in oil prices and a decline in value of energy-related properties could result in the receipt of cancellation of debt income by MLP partners, including the Fund. The receipt of this taxable income by the Fund will result in increased investment company taxable income required to be distributed by the Fund, without corresponding cash distributions from the MLPs. The Fund might need to sell assets that it might not otherwise wish to sell in order to pay the required distributions. In addition, the Fund faces the risk that it could fail to qualify as a RIC under Subchapter M of the Code, and the risk of changes in tax laws or regulations, or interpretations thereof, which could adversely affect the Fund, the MLP Investments and other portfolio companies in which the Fund invests. Effective for taxable years beginning after December 31, 2017, the Tax Cuts and Jobs Act of 2017 generally allows individuals and certain other non-corporate entities, such as partnerships, a deduction for 20% of "qualified publicly traded partnership income" such as income from MLPs. However, the new law does not include any provision for a RIC to pass the character of its qualified publicly traded partnership income through to its shareholders. As a result, an investor who invests directly in MLPs will be able to receive the benefit of that deduction, while a shareholder in the Fund will not. The federal, state, local and foreign tax consequences of an investment in Fund shares will depend on the facts of each investor's situation. Investors are encouraged to consult their own tax advisors regarding the specific tax consequences that may affect such investors. The Fund's shares will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective. An investment in the Fund is not a deposit with a bank and is not insured or guaranteed by the FDIC or any other government agency. |
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Risk Lose Money [Text] | rr_RiskLoseMoney | The Fund's shares will change in value, and you could lose money by investing in the Fund. | ||||||||
Risk Nondiversified Status [Text] | rr_RiskNondiversifiedStatus | The Fund is classified as a "non-diversified" investment company under the 1940 Act, which means the Fund is not limited by the 1940 Act in the proportion of its assets that may be invested in the securities of a single issuer. As a non-diversified investment company, the Fund may invest in the securities of individual issuers to a greater degree than a diversified investment company. As a result, the Fund may be more vulnerable to events affecting a single issuer and therefore, subject to greater volatility than a fund that is more broadly diversified. Accordingly, an investment in the Fund may present greater risk to an investor than an investment in a diversified company. | ||||||||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | An investment in the Fund is not a deposit with a bank and is not insured or guaranteed by the FDIC or any other government agency. | ||||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | PERFORMANCE | ||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The Fund has not been in operation for a full calendar year. As a result, no performance information is available. |
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Performance One Year or Less [Text] | rr_PerformanceOneYearOrLess | The Fund has not been in operation for a full calendar year. As a result, no performance information is available. | ||||||||
Center Coast Brookfield Energy Infrastructure Fund | Class A | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 4.75% | ||||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original costs of shares redeemed) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | [1] | |||||||
Management fees | rr_ManagementFeesOverAssets | 1.00% | ||||||||
Distribution and/or Service (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | ||||||||
Other Expenses | rr_OtherExpensesOverAssets | 3.00% | [2] | |||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 4.25% | ||||||||
Less Fee Waiver and/or Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (2.75%) | [3] | |||||||
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement | rr_NetExpensesOverAssets | 1.50% | [3] | |||||||
Expenses Deferred Charges [Text Block] | rr_ExpensesDeferredChargesTextBlock | No sales charge is payable at the time of purchase on investments of $1 million or more, although for such investments the Fund will impose a Contingent Deferred Sales Charge of 1.00% on redemptions made within eighteen months of purchase. | ||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 620 | ||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 1,465 | ||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 2,322 | ||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 4,521 | ||||||||
Center Coast Brookfield Energy Infrastructure Fund | Class C | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original costs of shares redeemed) | rr_MaximumDeferredSalesChargeOverOfferingPrice | 1.00% | [4] | |||||||
Management fees | rr_ManagementFeesOverAssets | 1.00% | ||||||||
Distribution and/or Service (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 1.00% | ||||||||
Other Expenses | rr_OtherExpensesOverAssets | 3.00% | [2] | |||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 5.00% | ||||||||
Less Fee Waiver and/or Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (2.75%) | [3] | |||||||
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement | rr_NetExpensesOverAssets | 2.25% | [3] | |||||||
Expenses Deferred Charges [Text Block] | rr_ExpensesDeferredChargesTextBlock | A Contingent Deferred Sales Charge of 1.00% will be applied to redemptions of Class C Shares made within twelve months of the purchase date. | ||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 328 | ||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 1,256 | ||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 2,283 | ||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | 4,852 | ||||||||
Expense Example, No Redemption, 1 Year | rr_ExpenseExampleNoRedemptionYear01 | 228 | ||||||||
Expense Example, No Redemption, 3 Years | rr_ExpenseExampleNoRedemptionYear03 | 1,256 | ||||||||
Expense Example, No Redemption, 5 Years | rr_ExpenseExampleNoRedemptionYear05 | 2,283 | ||||||||
Expense Example, No Redemption, 10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 4,852 | ||||||||
Center Coast Brookfield Energy Infrastructure Fund | Class I | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original costs of shares redeemed) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | ||||||||
Management fees | rr_ManagementFeesOverAssets | 1.00% | ||||||||
Distribution and/or Service (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||||||
Other Expenses | rr_OtherExpensesOverAssets | 3.00% | [2] | |||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 4.00% | ||||||||
Less Fee Waiver and/or Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (2.75%) | [3] | |||||||
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement | rr_NetExpensesOverAssets | 1.25% | [3] | |||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 127 | ||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 966 | ||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 1,821 | ||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 4,035 | ||||||||
Center Coast Brookfield Energy Infrastructure Fund | Class Y | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original costs of shares redeemed) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | ||||||||
Management fees | rr_ManagementFeesOverAssets | 1.00% | ||||||||
Distribution and/or Service (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||||||
Other Expenses | rr_OtherExpensesOverAssets | 3.00% | [2] | |||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 4.00% | ||||||||
Less Fee Waiver and/or Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (2.75%) | [3] | |||||||
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement | rr_NetExpensesOverAssets | 1.25% | [3] | |||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 127 | ||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 966 | ||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 1,821 | ||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 4,035 | ||||||||
|
Label | Element | Value |
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Risk/Return: | rr_RiskReturnAbstract | |
Prospectus Date | rr_ProspectusDate | Sep. 05, 2018 |
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September 11, 2018
VIA EDGAR TRANSMISSION
United States Securities and Exchange Commission
Division of Investment Management
100 F. Street N.E.
Washington D.C. 20549
Re: Brookfield Investment Funds (the Trust)
File Nos.: 333-174323 and 811-22558
Dear Sir or Madam:
Pursuant to Rule 485(b) of the Securities Act of 1933, as amended (the 1933 Act), and pursuant to the Investment Company Act of 1940, as amended (the1940 Act), and the regulations thereunder, transmitted herewith on behalf of the Center Coast Brookfield Energy Infrastructure Fund is Post-Effective Amendment (PEA) No. 40, under the 1933 Act, and Amendment No. 42, under the 1940 Act, to the Trusts Registration Statement on Form N-1A. This PEA No. 40 hereby incorporates Parts A, B and C from the Trusts PEA No. 39 on Form N-1A filed on September 5, 2018. This PEA No. 40 is filed for the sole purpose of submitting the XBRL exhibit for the risk/return summary first provided in PEA No. 39 (Accession No. 0001104659-18-055328) to the Trusts Registration Statement.
If you have any questions or require further information, please contact me at (212) 549-8367.
Sincerely, |
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/s/ Thomas D. Peeney |
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Thomas D. Peeney, Director, Legal Counsel |
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Brookfield Investment Management Inc. |
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Cc: Michael Rosella, Esq. Paul Hastings LLP |
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