XML 11 R3.htm IDEA: XBRL DOCUMENT v3.21.2
Label Element Value
Kayne Anderson Renewable Infrastructure Fund  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk/Return [Heading] rr_RiskReturnHeading Kayne Anderson Renewable Infrastructure Fund
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
Kayne Anderson Renewable Infrastructure Fund
a series of Series Portfolios Trust (the “Trust”)

Supplement dated July 28, 2021 to the
Prospectus dated April 30, 2021

This supplement amends the Prospectus for the Kayne Anderson Renewable Infrastructure Fund (the “Fund”) dated April 30, 2021.

Effective August 1, 2021, Kayne Anderson Capital Advisors, L.P. (the “Adviser”) has contractually agreed to lower its management fee from 1.00% to 0.85% of the Fund’s average daily net assets. Also effective August 1, 2021, to reduce the Fund’s Total Annual Fund Operating Expenses, the Adviser has contractually agreed, pursuant to an operating expense limitation agreement between the Adviser and the Trust, on behalf of the Fund, to reduce the Fund’s operating expense limit by 0.30% so that Total Annual Fund Operating Expenses (excluding Rule 12b-1 fees, shareholder servicing fees, acquired fund fees and expenses, front-end or contingent deferred loads, dividends and interest on short positions, taxes, leverage interest, brokerage fees (including commissions, mark-ups and mark-downs), other transactional expenses, annual account fees for margin accounts, expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation) do not exceed 1.00% of the Fund’s average daily net assets through at least August 1, 2022.

The “Fees and Expenses of the Fund” table and “Example” in the section titled “Summary Section” on page 1 of the Fund’s Prospectus are hereby deleted and replaced with the following:
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination August 1, 2022
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees “Other Expenses” includes Acquired Fund Fees and Expenses that did not exceed 0.01% of the Fund’s average net assets. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.
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 Cap through August 1, 2022).
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:
Supplement Closing [Text Block] ck0001650149_SupplementClosingTextBlock Please retain this supplement future reference.
Kayne Anderson Renewable Infrastructure Fund | Retail Class  
Prospectus [Line Items] rr_ProspectusLineItems  
Management Fees (as a percentage of Assets) rr_ManagementFeesOverAssets 0.85%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses (as a percentage of Assets): rr_OtherExpensesOverAssets 1.02% [1]
Expenses (as a percentage of Assets) rr_ExpensesOverAssets 2.12%
Fee Waiver or Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.86%) [2]
Net Expenses (as a percentage of Assets) rr_NetExpensesOverAssets 1.26% [2]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 128
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 558
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,037
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 2,361
Kayne Anderson Renewable Infrastructure Fund | Class I  
Prospectus [Line Items] rr_ProspectusLineItems  
Management Fees (as a percentage of Assets) rr_ManagementFeesOverAssets 0.85%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses (as a percentage of Assets): rr_OtherExpensesOverAssets 1.02% [1]
Expenses (as a percentage of Assets) rr_ExpensesOverAssets 1.87%
Fee Waiver or Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.86%) [2]
Net Expenses (as a percentage of Assets) rr_NetExpensesOverAssets 1.01% [2]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 103
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 481
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 908
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 2,097
[1] “Other Expenses” includes Acquired Fund Fees and Expenses that did not exceed 0.01% of the Fund’s average net assets. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.
[2] Kayne Anderson Capital Advisors, L.P. (the “Adviser”) has contractually agreed to waive its management fees, and/or reimburse Fund operating expenses, in order to ensure that Total Annual Fund Operating Expenses (excluding Rule 12b-1 fees, shareholder servicing fees, acquired fund fees and expenses, front-end or contingent deferred loads, dividends and interest on short positions, taxes, leverage interest, brokerage fees (including commissions, mark-ups and mark-downs), other transactional expenses, annual account fees for margin accounts, expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation) do not exceed 1.00% of the average daily net assets of the Fund (the “Expense Cap”). The Expense Cap will remain in effect through at least August 1, 2022 and may be terminated at any time thereafter upon 60 days’ written notice by the Trust’s Board of Trustees (the “Board”) or the Adviser, with the consent of the Board. The Adviser may request recoupment of previously waived fees and reimbursed expenses from the Fund for three years from the date they were waived or reimbursed, provided that, after recoupment has been taken into account, the Fund is able to make the recoupment without exceeding the lesser of the Expense Cap: (i) in effect at the time of the waiver or reimbursement, or (ii) in effect at the time of recoupment.