0001398344-18-016059.txt : 20181107 0001398344-18-016059.hdr.sgml : 20181107 20181107103733 ACCESSION NUMBER: 0001398344-18-016059 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 14 FILED AS OF DATE: 20181107 DATE AS OF CHANGE: 20181107 EFFECTIVENESS DATE: 20181107 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORUM FUNDS CENTRAL INDEX KEY: 0000315774 IRS NUMBER: 010516963 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 002-67052 FILM NUMBER: 181165059 BUSINESS ADDRESS: STREET 1: THREE CANAL PLAZA CITY: PORTLAND STATE: ME ZIP: 04101 BUSINESS PHONE: 2073472000 MAIL ADDRESS: STREET 1: FORUM FUNDS STREET 2: THREE CANAL PLAZA CITY: PORTLAND STATE: ME ZIP: 04101 FORMER COMPANY: FORMER CONFORMED NAME: FORUM FUNDS INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FAHNESTOCK DAILY INCOME FUND INC DATE OF NAME CHANGE: 19870617 FORMER COMPANY: FORMER CONFORMED NAME: DAILY INCOME EXTENSION FUND INC DATE OF NAME CHANGE: 19810607 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORUM FUNDS CENTRAL INDEX KEY: 0000315774 IRS NUMBER: 010516963 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-03023 FILM NUMBER: 181165058 BUSINESS ADDRESS: STREET 1: THREE CANAL PLAZA CITY: PORTLAND STATE: ME ZIP: 04101 BUSINESS PHONE: 2073472000 MAIL ADDRESS: STREET 1: FORUM FUNDS STREET 2: THREE CANAL PLAZA CITY: PORTLAND STATE: ME ZIP: 04101 FORMER COMPANY: FORMER CONFORMED NAME: FORUM FUNDS INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FAHNESTOCK DAILY INCOME FUND INC DATE OF NAME CHANGE: 19870617 FORMER COMPANY: FORMER CONFORMED NAME: DAILY INCOME EXTENSION FUND INC DATE OF NAME CHANGE: 19810607 0000315774 S000004570 Auxier Focus Fund C000012491 A Shares AUXAX C000012493 Investor Shares AUXFX C000112762 Institutional Shares AUXIX 485BPOS 1 fp0036619_485bpos-xbrl.htm

As filed with the Securities and Exchange Commission on November 7, 2018

 

File Nos. 002-67052 and 811-03023

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM N-1A

 

REGISTRATION STATEMENT UNDER THE

SECURITIES ACT OF 1933

 

Post-Effective Amendment No. 630

 

AND

 

REGISTRATION STATEMENT UNDER THE

INVESTMENT COMPANY ACT OF 1940

 

Amendment No. 631

 

 

FORUM FUNDS

Three Canal Plaza, Suite 600

Portland, Maine 04101

207-347-2000

 

Stacy Fuller, Esq.

K&L Gates LLP

1601 K Street, N.W.

Washington, D.C. 20006

 

Copies to:

Zachary R. Tackett

Atlantic Fund Services

Three Canal Plaza

Portland, ME 04101

 

 

It is proposed that this filing will become effective:

 

[X]immediately upon filing pursuant to Rule 485, paragraph (b)(1)
[  ]on ___________, pursuant to Rule 485, paragraph (b)(1)
[  ]60 days after filing pursuant to Rule 485, paragraph (a)(1)
[  ]on ___________, pursuant to Rule 485, paragraph (a)(1)
[  ]75 days after filing pursuant to Rule 485, paragraph (a)(2)
[  ]on ___________, pursuant to Rule 485, paragraph (a)(2)
[  ]this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

This PEA No. 630 is filed for the sole purpose of submitting XBRL exhibit for the risk/return summary first provided in PEA No. 628 to the Trust’s 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 certifies that it has met all of the requirements for effectiveness of this registration statement under Rule 485(b) of the Securities Act of 1933 and has duly caused this amendment to its registration statement on Form N-1A to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Portland, and State of Maine on November 7, 2018.

 

Forum Funds  
   
/s/ Jessica Chase  
Jessica Chase, President  

 

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below by the following persons in the capacities indicated on November 7, 2018.

 

(a) Principal Executive Officer
     
  /s/ Jessica Chase  
  Jessica Chase  
  Principal Executive Officer

 

(b) Principal Financial Officer

 

  /s/ Karen Shaw  
  Karen Shaw  
  Principal Financial Officer

 

(c) A majority of the Trustees
   
  John Y. Keffer, Trustee*
  James C. Cheng, Trustee*
  J. Michael Parish, Trustee*
  Costas Azariadis, Trustee*
  David Tucker, Trustee*

 

By: /s/ Zachary R. Tackett  
  Zachary R. Tackett  
  As Attorney-in-fact  

 

*Pursuant to powers of attorney previously filed.

 

 

 

EXHIBIT INDEX

 

Index No. Description of Exhibit
EX-101.INS XBRL Instance Document
EX-101.SCH XBRL Taxonomy Extension Schema Document
EX-101.DEF XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB XBRL Taxonomy Extension Label Linkbase
EX-101.PRE XBRL Taxonomy Extension Presentation Linkbase

EX-101.INS 3 forum-20181023.xml XBRL INSTANCE FILE 0000315774 2018-10-23 2018-10-23 0000315774 forum:S000004570Member 2018-10-23 2018-10-23 0000315774 forum:S000004570Member forum:C000012493Member 2018-10-23 2018-10-23 0000315774 forum:S000004570Member forum:C000012493Member rr:AfterTaxesOnDistributionsMember 2018-10-23 2018-10-23 0000315774 forum:S000004570Member forum:C000012493Member rr:AfterTaxesOnDistributionsAndSalesMember 2018-10-23 2018-10-23 0000315774 forum:S000004570Member forum:C000012491Member 2018-10-23 2018-10-23 0000315774 forum:S000004570Member forum:C000112762Member 2018-10-23 2018-10-23 0000315774 forum:S000004570Member forum:Index1Member 2018-10-23 2018-10-23 iso4217:USD xbrli:pure 485BPOS 2018-06-30 FORUM FUNDS 0000315774 false 2018-10-23 2018-11-01 2018-11-01 <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">Auxier Focus Fund &#8211; Investor Shares, A Shares and Institutional Shares</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Investment Objective</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">The investment objective of the Auxier Focus Fund (the &#34;Fund&#34;) is to provide long-term capital appreciation.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Fees and Expenses</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund's A Shares. 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Updated performance information is available at www.auxierasset.com or by calling (877) 3-AUXIER or (877) 328-9437 (toll free).</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><i>Performance information represents only past performance and does not necessarily indicate future results.</i></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Annual Returns as of December 31</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Investor Shares</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period shown, the highest return for a quarter was 13.12<font style="color: #2B2A29">% for the quarter ended </font>June 30, 2009<font style="color: #2B2A29">, and the lowest return was </font>-14.65<font style="color: #2B2A29">% for the quarter ended </font>December 31, 2008<font style="color: #2B2A29">.</font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">The calendar year-to-date total return as of September 30, 2018 was 7.03%.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Average Annual Total Returns</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(For the periods ended December 31, 2017<font style="color: #2B2A29">)</font></p> <div style="display: none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact forum_S000004570Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>S&#38;P 500<sup>&#174;</sup> Index</b> is a broad-based, unmanaged measure of changes in stock market conditions based on the average performance of stocks of 500 large U.S. companies.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for the Investor Shares of the Fund and after-tax returns for other share classes will vary.</p> 0 0.0575 0 0 0.0100 0 0 0 0 -0.0200 -0.0200 -0.0200 0.0098 0.0125 0.0080 -0.0012 -0.0019 -0.0030 0.0110 0.0144 0.0110 0.0030 0.0039 0.0030 0.0080 0.0080 0.0080 0 0.0025 0 100 695 82 338 987 320 595 1300 577 1329 2185 1313 -0.2452 0.2476 0.1010 0.0557 0.0873 0.2381 0.0734 -0.0123 0.0709 0.1771 0.1771 0.1623 0.1124 0.1065 0.1791 0.2183 0.1060 0.0951 0.0829 0.0920 0.1084 0.1579 0.0701 0.0628 0.0558 0.0632 0.0714 0.0850 AUXFX AUXAX AUXIX October 31, 2019 0.03 You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund’s A Shares. 50000 You could lose money on your investment in the Fund, and the Fund could underperform other investments. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. (877) 3-AUXIER or (877) 328-9437 (toll free) www.auxierasset.com Performance information represents only past performance and does not necessarily indicate future results. The bar chart and table that follow provide some indication of the risks of investing in the Fund by showing changes in the performance of the Investor Shares of the Fund from year to year and by showing how the Fund's average annual returns compare with those of a broad measure of market performance. (reflects no deduction for fees, expenses or taxes) highest return 0.1312 2009-06-30 lowest return 2008-12-31 -0.1465 2018-09-30 0.0703 year-to-date total return After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements, such as 401(k) plans or individual retirement accounts. <div style="display: none">~ http://xbrl.sec.gov/rr/role/OperatingExpensesData column period compact * column dei_LegalEntityAxis compact forum_S000004570Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/BarChartData column period compact * column dei_LegalEntityAxis compact forum_S000004570Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> After-tax returns are shown only for the Investor Shares of the Fund and after-tax returns for other share classes will vary. Applied to purchases not subject to an initial sales charge and redeemed less than one year after purchase. Institutional Shares commenced operations on May 9, 2012. Performance for the 5-year and 10 -year periods are a blended average annual return which include the returns of Investor Shares (inception date July 9, 1999) prior to the commencement of operations of Institutional Shares. Auxier Asset Management LLC (the "Adviser") has contractually agreed to waive a portion of its fee and/or reimburse Fund expenses to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement (excluding all taxes, interest, portfolio transaction expenses, dividend expenses on short sales, and extraordinary expenses) of Investor Shares, A Shares and Institutional Shares to 0.98 %, 1.25 % and 0.80 %, respectively, through October 31, 2019 (the "Expense Cap"). The Expense Cap may only be raised or eliminated with the consent of the Board of Trustees. The Adviser may be reimbursed by the Fund for fees waived and expenses reimbursed by the Adviser pursuant to the Expense Cap if such payment is made within three years of the fee waiver or expense reimbursement and does not cause the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement of a class to exceed the lesser of (i) the then-current expense cap, and (ii) the expense cap in place at the time the fees/expenses were waived/reimbursed. 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Operating Expenses Column [Text] Management Fees Distribution and/or Service (12b-1) Fees Distribution or Similar (Non 12b-1) Fees Component1 Other Expenses Component2 Other Expenses Component3 Other Expenses Other Expenses Acquired Fund Fees and Expenses Total Annual Fund Operating Expenses Fee Waiver and/or Expense Reimbursement Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement Expense Example, By Year, Column [Text] One Year Three Years Five Years Ten Years Expense Example, No Redemption, By Year, Column [Text] Expense Example, No Redemption, 1 Year Expense Example, No Redemption, 3 Years Expense Example, No Redemption, 5 Years Expense Example, No Redemption, 10 Years Annual Return Caption [Text] Annual Return, Column [Text] Annual Return, Inception Date Annual Return 1990 Annual Return 1991 Annual Return 1992 Annual Return 1993 Annual Return 1994 Annual Return 1995 Annual Return 1996 Annual Return 1997 Annual Return 1998 Annual Return 1999 Annual Return 2000 Annual Return 2001 Annual Return 2002 Annual Return 2003 Annual Return 2004 Annual Return 2005 Annual Return 2006 Annual Return 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Annual Return 2018 Annual Return 2019 Annual Return 2020 Label 1 Year 5 Years 10 Years Since Inception Inception Date Risk/Return Detail [Table] Redemption Fee (as a percentage of amount redeemed within 180 days of purchase, if applicable) Fee Waiver or Reimbursement over Assets, Date of Termination Portfolio Turnover, Rate Expense Breakpoint Discounts [Text] Expense Breakpoint, Minimum Investment Required [Amount] Expense Exchange Traded Fund Commissions [Text] Expenses Represent Both Master and Feeder [Text] Expenses Explanation of Nonrecurring Account Fee [Text] Other Expenses, New Fund, Based on Estimates [Text] Acquired Fund Fees and Expenses, Based on Estimates [Text] Expenses Other Expenses Had Extraordinary Expenses Been Included [Text] Expenses Restated to Reflect Current [Text] Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] Strategy Portfolio Concentration [Text] Risk Lose Money [Text] Risk Nondiversified Status [Text] Risk Money Market Fund [Text] Risk Not Insured Depository Institution [Text] Risk Caption Risk Column [Text] Risk [Text] Performance Information Illustrates Variability of Returns [Text] Performance One Year or Less [Text] Performance Additional Market Index [Text] Performance Availability Phone [Text] Performance Availability Website Address [Text] Performance Past Does Not Indicate Future [Text] Bar Chart Does Not Reflect Sales Loads [Text] Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text] Bar Chart, Returns for Class Not Offered in Prospectus [Text] Year to Date Return, Label Bar Chart, Year to Date Return, Date Bar Chart, Year to Date Return Highest Quarterly Return, Label Highest Quarterly Return, Date Highest Quarterly Return Lowest Quarterly Return, Label Lowest Quarterly Return, Date 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Document and Entity Information
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Document And Entity Information  
Document Type 485BPOS
Document Period End Date Jun. 30, 2018
Registrant Name FORUM FUNDS
Central Index Key 0000315774
Amendment Flag false
Document Creation Date Oct. 23, 2018
Document Effective Date Nov. 01, 2018
Prospectus Date Nov. 01, 2018
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Auxier Focus Fund
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">Auxier Focus Fund – Investor Shares, A Shares and Institutional Shares</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Investment Objective</b></p>

The investment objective of the Auxier Focus Fund (the "Fund") is to provide long-term capital appreciation.

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Fees and Expenses</b></p>

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund's A Shares. More information about these and other discounts is available from your financial professional and in "Reduced Sales Charges – A Shares" on page 18 of the Fund's prospectus.

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Shareholder Fees<br /> (fees paid directly from your investment)</b></p>
Shareholder Fees - Auxier Focus Fund
Investor Shares
A Shares
Institutional Shares
Maximum Sales Charge (Load) Imposed on Purchases of Less Than $1 million (as a percentage of the offering price) none 5.75% none
Maximum Contingent Deferred Sales Charge (Load) Imposed on Redemptions (as a percentage of the lesser of the redemption price or offering price) none 1.00% [1] none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Distributions (as a percentage of the offering price) none none none
Redemption Fee (as a percentage of amount redeemed within 180 days of purchase, if applicable) 2.00% 2.00% 2.00%
[1] Applied to purchases not subject to an initial sales charge and redeemed less than one year after purchase.
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Annual Fund Operating Expenses</b><br /> <b>(expenses that you pay each year as a percentage of the value of your investment)</b></p>
Annual Fund Operating Expenses - Auxier Focus Fund
Investor Shares
A Shares
Institutional Shares
Management Fees 0.80% 0.80% 0.80%
Distribution and/or Service (12b-1) Fees none 0.25% none
Other Expenses 0.30% 0.39% 0.30%
Total Annual Fund Operating Expenses 1.10% 1.44% 1.10%
Fee Waiver and/or Expense Reimbursement [1] (0.12%) (0.19%) (0.30%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement 0.98% 1.25% 0.80%
[1] Auxier Asset Management LLC (the "Adviser") has contractually agreed to waive a portion of its fee and/or reimburse Fund expenses to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement (excluding all taxes, interest, portfolio transaction expenses, dividend expenses on short sales, and extraordinary expenses) of Investor Shares, A Shares and Institutional Shares to 0.98 %, 1.25 % and 0.80 %, respectively, through October 31, 2019 (the "Expense Cap"). The Expense Cap may only be raised or eliminated with the consent of the Board of Trustees. The Adviser may be reimbursed by the Fund for fees waived and expenses reimbursed by the Adviser pursuant to the Expense Cap if such payment is made within three years of the fee waiver or expense reimbursement and does not cause the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement of a class to exceed the lesser of (i) the then-current expense cap, and (ii) the expense cap in place at the time the fees/expenses were waived/reimbursed.
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Example.</i></b></p>

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, except that it reflects the Expense Cap through the time periods described below. Although your actual costs may be higher or lower, based on these assumptions, whether you do or do not redeem your shares at the end of each period described below, your costs would be:

Expense Example - Auxier Focus Fund - USD ($)
One Year
Three Years
Five Years
Ten Years
Investor Shares 100 338 595 1,329
A Shares 695 987 1,300 2,185
Institutional Shares 82 320 577 1,313
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Portfolio Turnover</i></b><i>.</i></p>

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. During the most recent fiscal year, the Fund's portfolio turnover rate was 3% of the average value of its portfolio.

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Principal Investment Strategies</b></p>

The Fund invests primarily in a diversified portfolio of equity securities that the Adviser believes offer growth opportunities at a reasonable price. The Adviser will pursue an investment blend of equity securities of growth companies and value companies. The Fund is not limited by a fixed allocation of assets to equity securities of either growth or value companies and, depending upon the economic environment and judgment of the Adviser, may invest in either growth companies or value companies to the exclusion of the other.

 

Although the Fund may invest in companies of any market capitalization, the Fund intends to focus its investments in the equity securities of medium to large U.S. companies (defined by the Adviser as companies with market capitalizations above $1 billion at the time of investment). Certain sectors of the market are likely to be overweighted compared to others because the Adviser focuses on sectors that it believes demonstrate the best fundamentals for growth at a reasonable price and value. The Fund may invest up to 20% of its net assets in foreign securities, including American Depositary Receipts ("ADRs").

 

The Fund may invest in short- and long-term debt securities and convertible debt securities of U.S. companies if the Adviser believes that a company's debt securities offer more potential for long-term total return with less risk than an investment in the company's equity securities. The Fund may invest up to 25% of its net assets in "high-yield" fixed income securities rated at the time of purchase BB/Ba or lower by Standard & Poor's or Moody's or unrated but determined to be of comparable quality by the Adviser ("junk bonds"). The Fund also may invest up to 25% of its net assets in fixed-income securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities, or by the Canadian Government and its governmental agencies.

 

The Fund may engage in short sales "against-the-box." In a short sale, the seller sells a borrowed security, provides the lender collateral which is marked-to-market in an amount equal to the value of the security borrowed, and assumes an obligation to the lender to deliver the identical security at a certain time in the future. A short sale is against-the-box to the extent that the seller contemporaneously owns or has the right to obtain securities identical to those sold short. The Fund will not make short sales if, as a result, more than 20% of the Fund's net assets would be held as collateral for short sales.

 

The Fund typically sells a security when the Adviser's research indicates that there has been a deterioration in the company's fundamentals, such as changes in the company's competitive position or a lack of management focus. The Fund may invest a significant portion of the Fund's total assets in cash or cash equivalents if the Adviser's process does not identify other appropriate investments for the Fund.

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Principal Investment Risks</b></p>

The Fund's net asset value ("NAV") and investment return will fluctuate based upon changes in the value of its portfolio securities. You could lose money on your investment in the Fund, and the Fund could underperform other investments. There is no guarantee that the Fund will meet its investment objective. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

 

It is important that you closely review and understand the risks of investing in the Fund prior to making an investment in the Fund.

 

ADR Risk. The Fund may invest in ADRs. ADR risks include, but are not limited to, fluctuations in foreign currencies and foreign investment risks, such as political and financial instability, less liquidity, lack of uniform accounting, auditing and financial reporting standards and increased price volatility. In addition, ADRs may not track the price of the underlying foreign securities, and their value may change materially at times when U.S. markets are not open for trading.

 

Cash and Cash Equivalents Risk. To the extent the Fund holds cash and cash equivalents positions, even strategically, the Fund risks achieving lower returns and potential lost opportunities to participate in market appreciation, which could negatively impact the Fund's performance and ability to achieve its investment objective. This is particularly true when the market for other investments in which the Fund may invest is rapidly rising.

 

Convertible Securities Risk. Investments in convertible securities entail some of the risks of both equity and debt securities. The value of convertible securities tends to decline as interest rates rise and, because of the conversion feature, tends to vary with the fluctuations in the market value of the underlying securities or any changes in the issuer's credit rating. Convertible securities are subject to the risk that the credit rating of the issuer may have an effect on the value of the convertible securities.

 

Equity Risk. Equity holdings, which include common stocks may decline in value because of changes in the price of a particular holding or a broad stock market decline. Common stock ranks below preferred stock and debt securities in claims for dividends and for assets of the company in a liquidation or bankruptcy. The value of a security may decline for a number of reasons that directly relate to the issuer of a security or broader economic or market events including changes in interest rates.

 

Fixed-Income Securities Risk. The Fund may invest in fixed-income (debt) securities, which are generally subject to the following risks:

 

Credit Risk. The financial condition of an issuer of a fixed-income security may cause the issuer to default. A decline in an issuer's credit rating may cause a decrease in the value of the security and an increase in investment risk and price volatility.

 

Interest Rate Risk. An increase in interest rates typically causes a decrease in the value of fixed-income securities in which the Fund may invest. Given that interest rates are near historic lows, risks associated with rising rates are heightened. Fixed-income securities with longer durations tend to be more sensitive to changes in interest rates, generally making them more volatile than fixed-income securities with shorter durations.

 

Foreign Investments Risk. The value of foreign investments may be affected by risks in addition to those affecting domestic investments, including the imposition of new, amended, or limited government regulations, changes in diplomatic relations between the U.S. and another country, political and economic instability, less favorable economic conditions, the imposition or tightening of exchange controls, trade barriers and other protectionist trade policies (including those in the U.S.), or other limitations on repatriation of foreign capital or nationalization and/or increased taxation or confiscation of investors' assets. Investments in securities of foreign issuers are subject to fluctuations in the value of the issuer's local currency relative to the U.S dollar and may be subject to foreign withholding and other taxes.

 

Growth Company Risk. The Fund's investments in growth securities may be more sensitive to company earnings and more volatile than the market in general primarily because their stock prices are based heavily on future expectations. If the Adviser's assessment of the prospects for a company's growth is wrong, or if the Adviser's judgment of how other investors will value the company's growth is wrong, then the price of the company's stock may fall or not approach the value that the Adviser has placed on it.

 

High-Yield Securities Risk. Investments in "high yield securities" or "junk bonds" are inherently speculative and have a greater risk of default than investments in investment grade fixed-income securities. If an issuer defaults, a below-investment grade security could lose all of its value, be renegotiated at a lower interest rate or principal amount or become illiquid. Below-investment grade securities may be less liquid and more volatile than investment grade fixed-income securities and may be more difficult to value or sell.

 

Large Capitalization Company Risk. The Fund's investments in large capitalization companies may underperform other segments of the market because they may be less responsive to competitive challenges and opportunities and unable to attain high growth rates during periods of economic expansion.

 

Management Risk. The Fund is actively managed and its performance will reflect the Adviser's ability to make investment decisions that are suited to achieving the Fund's investment objective.

 

Market Events Risk. Turbulence in the financial markets and reduced liquidity in equity, credit and fixed-income markets may negatively affect issuers worldwide, which could have an adverse effect on the Fund. In addition, there is a risk that policy changes by the Federal Reserve and/or other government actors, such as increasing interest rates, could cause increased volatility in financial markets, and higher levels of Fund redemptions, which could have a negative impact on the Fund. Trade barriers and other protectionist trade policies (including those in the U.S.) may also have a negative impact on the Fund.

 

Mid Capitalization Company Risk. Investments in mid capitalization companies may be less liquid and their securities' prices may fluctuate more than those of larger, more established companies. These factors could adversely affect the Fund's ability to sell such securities at a desirable time and price.

 

Sector Risk. The Fund may invest a higher percentage of its total assets in one or more sectors. Developments affecting those sectors should be expected to impact the Fund more than a fund that is more broadly diversified and/or is not weighted in those sectors.

 

Short Selling Risk. The Fund may engage in short sales of securities only against the box by borrowing a security and then selling it. If the Fund sells a security short and buys back the security at a higher price, the Fund will incur a loss on the transaction.

 

Sovereign Debt Risk. A sovereign debtor's willingness and ability to repay principal and interest on issued debt securities may depend on, among other things, its cash flow situation, cash reserves, foreign exchange rates, changing economic policies and the local political climate. Sovereign debt risks are greater for emerging market issuers.

 

U.S. Government Securities Risk. The Fund may invest in U.S. Government securities, which may be backed by the U.S. Department of the Treasury or the full faith and credit of the U.S., and may include U.S. Treasury bills, Treasury Inflation-Protected Securities, notes and bonds. These securities are guaranteed only as to the timely payment of interest and principal when held to maturity. The market prices for such securities are not guaranteed and will fluctuate. Certain U.S. Government agency securities are backed by the right of the issuer to borrow from the U.S. Department of the Treasury, or are supported only by the credit of the issuing agency or instrumentality; such securities are subject to a greater risk of default by the issuer.

 

Value Investment Risk. Value investing attempts to identify companies selling at a discount to their intrinsic value. Value investing is subject to the risk that a company's intrinsic value may never be fully realized by the market or that a company judged by the Adviser to be undervalued may not be undervalued.

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Performance Information</b></p>

The bar chart and table that follow provide some indication of the risks of investing in the Fund by showing changes in the performance of the Investor Shares of the Fund from year to year and by showing how the Fund's average annual returns compare with those of a broad measure of market performance. Because the A Shares have higher expenses than the Investor Shares, the performance achieved by the A Shares was lower than the performance achieved by the Investor Shares for the same period. Because the A Shares and Investor Shares have higher expenses than Institutional Shares, the performance achieved by the A Shares and Investor Shares was lower than the performance achieved by the Institutional Shares for the same period. Updated performance information is available at www.auxierasset.com or by calling (877) 3-AUXIER or (877) 328-9437 (toll free).

 

Performance information represents only past performance and does not necessarily indicate future results.

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Annual Returns as of December 31</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Investor Shares</p>
Bar Chart

During the period shown, the highest return for a quarter was 13.12% for the quarter ended June 30, 2009, and the lowest return was -14.65% for the quarter ended December 31, 2008.

 

The calendar year-to-date total return as of September 30, 2018 was 7.03%.

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Average Annual Total Returns</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(For the periods ended December 31, 2017<font style="color: #2B2A29">)</font></p>
Average Annual Total Returns - Auxier Focus Fund
1 Year
5 Years
10 Years
Investor Shares 17.71% 10.60% 7.01%
Investor Shares | After Taxes on Distributions 16.23% 9.51% 6.28%
Investor Shares | After Taxes on Distributions and Sales 11.24% 8.29% 5.58%
A Shares 10.65% 9.20% 6.32%
Institutional Shares 17.91% 10.84% 7.14% [1]
S&P 500® Index (reflects no deduction for fees, expenses or taxes) 21.83% 15.79% 8.50%
[1] Institutional Shares commenced operations on May 9, 2012. Performance for the 5-year and 10 -year periods are a blended average annual return which include the returns of Investor Shares (inception date July 9, 1999) prior to the commencement of operations of Institutional Shares.

S&P 500® Index is a broad-based, unmanaged measure of changes in stock market conditions based on the average performance of stocks of 500 large U.S. companies.

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for the Investor Shares of the Fund and after-tax returns for other share classes will vary.

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Label Element Value
Risk Return Abstract rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Jun. 30, 2018
Registrant Name dei_EntityRegistrantName FORUM FUNDS
Central Index Key dei_EntityCentralIndexKey 0000315774
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Oct. 23, 2018
Document Effective Date dei_DocumentEffectiveDate Nov. 01, 2018
Prospectus Date rr_ProspectusDate Nov. 01, 2018
Auxier Focus Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">Auxier Focus Fund – Investor Shares, A Shares and Institutional Shares</p>
Objective [Heading] rr_ObjectiveHeading <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Investment Objective</b></p>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The investment objective of the Auxier Focus Fund (the "Fund") is to provide long-term capital appreciation.

Expense [Heading] rr_ExpenseHeading <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Fees and Expenses</b></p>
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 Fund's A Shares. More information about these and other discounts is available from your financial professional and in "Reduced Sales Charges – A Shares" on page 18 of the Fund's prospectus.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Shareholder Fees<br /> (fees paid directly from your investment)</b></p>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Annual Fund Operating Expenses</b><br /> <b>(expenses that you pay each year as a percentage of the value of your investment)</b></p>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination October 31, 2019
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Portfolio Turnover</i></b><i>.</i></p>
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. During the most recent fiscal year, the Fund's portfolio turnover rate was 3% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 3.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund’s A Shares.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expense Example [Heading] rr_ExpenseExampleHeading <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Example.</i></b></p>
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, except that it reflects the Expense Cap through the time periods described below. Although your actual costs may be higher or lower, based on these assumptions, whether you do or do not redeem your shares at the end of each period described below, your costs would be:

Strategy [Heading] rr_StrategyHeading <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Principal Investment Strategies</b></p>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund invests primarily in a diversified portfolio of equity securities that the Adviser believes offer growth opportunities at a reasonable price. The Adviser will pursue an investment blend of equity securities of growth companies and value companies. The Fund is not limited by a fixed allocation of assets to equity securities of either growth or value companies and, depending upon the economic environment and judgment of the Adviser, may invest in either growth companies or value companies to the exclusion of the other.

 

Although the Fund may invest in companies of any market capitalization, the Fund intends to focus its investments in the equity securities of medium to large U.S. companies (defined by the Adviser as companies with market capitalizations above $1 billion at the time of investment). Certain sectors of the market are likely to be overweighted compared to others because the Adviser focuses on sectors that it believes demonstrate the best fundamentals for growth at a reasonable price and value. The Fund may invest up to 20% of its net assets in foreign securities, including American Depositary Receipts ("ADRs").

 

The Fund may invest in short- and long-term debt securities and convertible debt securities of U.S. companies if the Adviser believes that a company's debt securities offer more potential for long-term total return with less risk than an investment in the company's equity securities. The Fund may invest up to 25% of its net assets in "high-yield" fixed income securities rated at the time of purchase BB/Ba or lower by Standard & Poor's or Moody's or unrated but determined to be of comparable quality by the Adviser ("junk bonds"). The Fund also may invest up to 25% of its net assets in fixed-income securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities, or by the Canadian Government and its governmental agencies.

 

The Fund may engage in short sales "against-the-box." In a short sale, the seller sells a borrowed security, provides the lender collateral which is marked-to-market in an amount equal to the value of the security borrowed, and assumes an obligation to the lender to deliver the identical security at a certain time in the future. A short sale is against-the-box to the extent that the seller contemporaneously owns or has the right to obtain securities identical to those sold short. The Fund will not make short sales if, as a result, more than 20% of the Fund's net assets would be held as collateral for short sales.

 

The Fund typically sells a security when the Adviser's research indicates that there has been a deterioration in the company's fundamentals, such as changes in the company's competitive position or a lack of management focus. The Fund may invest a significant portion of the Fund's total assets in cash or cash equivalents if the Adviser's process does not identify other appropriate investments for the Fund.

Risk [Heading] rr_RiskHeading <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Principal Investment Risks</b></p>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

The Fund's net asset value ("NAV") and investment return will fluctuate based upon changes in the value of its portfolio securities. You could lose money on your investment in the Fund, and the Fund could underperform other investments. There is no guarantee that the Fund will meet its investment objective. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

 

It is important that you closely review and understand the risks of investing in the Fund prior to making an investment in the Fund.

 

ADR Risk. The Fund may invest in ADRs. ADR risks include, but are not limited to, fluctuations in foreign currencies and foreign investment risks, such as political and financial instability, less liquidity, lack of uniform accounting, auditing and financial reporting standards and increased price volatility. In addition, ADRs may not track the price of the underlying foreign securities, and their value may change materially at times when U.S. markets are not open for trading.

 

Cash and Cash Equivalents Risk. To the extent the Fund holds cash and cash equivalents positions, even strategically, the Fund risks achieving lower returns and potential lost opportunities to participate in market appreciation, which could negatively impact the Fund's performance and ability to achieve its investment objective. This is particularly true when the market for other investments in which the Fund may invest is rapidly rising.

 

Convertible Securities Risk. Investments in convertible securities entail some of the risks of both equity and debt securities. The value of convertible securities tends to decline as interest rates rise and, because of the conversion feature, tends to vary with the fluctuations in the market value of the underlying securities or any changes in the issuer's credit rating. Convertible securities are subject to the risk that the credit rating of the issuer may have an effect on the value of the convertible securities.

 

Equity Risk. Equity holdings, which include common stocks may decline in value because of changes in the price of a particular holding or a broad stock market decline. Common stock ranks below preferred stock and debt securities in claims for dividends and for assets of the company in a liquidation or bankruptcy. The value of a security may decline for a number of reasons that directly relate to the issuer of a security or broader economic or market events including changes in interest rates.

 

Fixed-Income Securities Risk. The Fund may invest in fixed-income (debt) securities, which are generally subject to the following risks:

 

Credit Risk. The financial condition of an issuer of a fixed-income security may cause the issuer to default. A decline in an issuer's credit rating may cause a decrease in the value of the security and an increase in investment risk and price volatility.

 

Interest Rate Risk. An increase in interest rates typically causes a decrease in the value of fixed-income securities in which the Fund may invest. Given that interest rates are near historic lows, risks associated with rising rates are heightened. Fixed-income securities with longer durations tend to be more sensitive to changes in interest rates, generally making them more volatile than fixed-income securities with shorter durations.

 

Foreign Investments Risk. The value of foreign investments may be affected by risks in addition to those affecting domestic investments, including the imposition of new, amended, or limited government regulations, changes in diplomatic relations between the U.S. and another country, political and economic instability, less favorable economic conditions, the imposition or tightening of exchange controls, trade barriers and other protectionist trade policies (including those in the U.S.), or other limitations on repatriation of foreign capital or nationalization and/or increased taxation or confiscation of investors' assets. Investments in securities of foreign issuers are subject to fluctuations in the value of the issuer's local currency relative to the U.S dollar and may be subject to foreign withholding and other taxes.

 

Growth Company Risk. The Fund's investments in growth securities may be more sensitive to company earnings and more volatile than the market in general primarily because their stock prices are based heavily on future expectations. If the Adviser's assessment of the prospects for a company's growth is wrong, or if the Adviser's judgment of how other investors will value the company's growth is wrong, then the price of the company's stock may fall or not approach the value that the Adviser has placed on it.

 

High-Yield Securities Risk. Investments in "high yield securities" or "junk bonds" are inherently speculative and have a greater risk of default than investments in investment grade fixed-income securities. If an issuer defaults, a below-investment grade security could lose all of its value, be renegotiated at a lower interest rate or principal amount or become illiquid. Below-investment grade securities may be less liquid and more volatile than investment grade fixed-income securities and may be more difficult to value or sell.

 

Large Capitalization Company Risk. The Fund's investments in large capitalization companies may underperform other segments of the market because they may be less responsive to competitive challenges and opportunities and unable to attain high growth rates during periods of economic expansion.

 

Management Risk. The Fund is actively managed and its performance will reflect the Adviser's ability to make investment decisions that are suited to achieving the Fund's investment objective.

 

Market Events Risk. Turbulence in the financial markets and reduced liquidity in equity, credit and fixed-income markets may negatively affect issuers worldwide, which could have an adverse effect on the Fund. In addition, there is a risk that policy changes by the Federal Reserve and/or other government actors, such as increasing interest rates, could cause increased volatility in financial markets, and higher levels of Fund redemptions, which could have a negative impact on the Fund. Trade barriers and other protectionist trade policies (including those in the U.S.) may also have a negative impact on the Fund.

 

Mid Capitalization Company Risk. Investments in mid capitalization companies may be less liquid and their securities' prices may fluctuate more than those of larger, more established companies. These factors could adversely affect the Fund's ability to sell such securities at a desirable time and price.

 

Sector Risk. The Fund may invest a higher percentage of its total assets in one or more sectors. Developments affecting those sectors should be expected to impact the Fund more than a fund that is more broadly diversified and/or is not weighted in those sectors.

 

Short Selling Risk. The Fund may engage in short sales of securities only against the box by borrowing a security and then selling it. If the Fund sells a security short and buys back the security at a higher price, the Fund will incur a loss on the transaction.

 

Sovereign Debt Risk. A sovereign debtor's willingness and ability to repay principal and interest on issued debt securities may depend on, among other things, its cash flow situation, cash reserves, foreign exchange rates, changing economic policies and the local political climate. Sovereign debt risks are greater for emerging market issuers.

 

U.S. Government Securities Risk. The Fund may invest in U.S. Government securities, which may be backed by the U.S. Department of the Treasury or the full faith and credit of the U.S., and may include U.S. Treasury bills, Treasury Inflation-Protected Securities, notes and bonds. These securities are guaranteed only as to the timely payment of interest and principal when held to maturity. The market prices for such securities are not guaranteed and will fluctuate. Certain U.S. Government agency securities are backed by the right of the issuer to borrow from the U.S. Department of the Treasury, or are supported only by the credit of the issuing agency or instrumentality; such securities are subject to a greater risk of default by the issuer.

 

Value Investment Risk. Value investing attempts to identify companies selling at a discount to their intrinsic value. Value investing is subject to the risk that a company's intrinsic value may never be fully realized by the market or that a company judged by the Adviser to be undervalued may not be undervalued.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money on your investment in the Fund, and the Fund could underperform other investments.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Performance Information</b></p>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The bar chart and table that follow provide some indication of the risks of investing in the Fund by showing changes in the performance of the Investor Shares of the Fund from year to year and by showing how the Fund's average annual returns compare with those of a broad measure of market performance. Because the A Shares have higher expenses than the Investor Shares, the performance achieved by the A Shares was lower than the performance achieved by the Investor Shares for the same period. Because the A Shares and Investor Shares have higher expenses than Institutional Shares, the performance achieved by the A Shares and Investor Shares was lower than the performance achieved by the Institutional Shares for the same period. Updated performance information is available at www.auxierasset.com or by calling (877) 3-AUXIER or (877) 328-9437 (toll free).

 

Performance information represents only past performance and does not necessarily indicate future results.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table that follow provide some indication of the risks of investing in the Fund by showing changes in the performance of the Investor Shares of the Fund from year to year and by showing how the Fund's average annual returns compare with those of a broad measure of market performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone (877) 3-AUXIER or (877) 328-9437 (toll free)
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.auxierasset.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Performance information represents only past performance and does not necessarily indicate future results.
Bar Chart [Heading] rr_BarChartHeading <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Annual Returns as of December 31</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Investor Shares</p>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

During the period shown, the highest return for a quarter was 13.12% for the quarter ended June 30, 2009, and the lowest return was -14.65% for the quarter ended December 31, 2008.

 

The calendar year-to-date total return as of September 30, 2018 was 7.03%.

Performance Table Heading rr_PerformanceTableHeading <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Average Annual Total Returns</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(For the periods ended December 31, 2017<font style="color: #2B2A29">)</font></p>
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes (reflects no deduction for fees, expenses or taxes)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Investor Shares of the Fund and after-tax returns for other share classes will vary.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock

S&P 500® Index is a broad-based, unmanaged measure of changes in stock market conditions based on the average performance of stocks of 500 large U.S. companies.

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for the Investor Shares of the Fund and after-tax returns for other share classes will vary.

Auxier Focus Fund | Investor Shares  
Risk Return Abstract rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol AUXFX
Maximum Sales Charge (Load) Imposed on Purchases of Less Than $1 million (as a percentage of the offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Contingent Deferred Sales Charge (Load) Imposed on Redemptions (as a percentage of the lesser of the redemption price or offering price) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Distributions (as a percentage of the offering price) rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed within 180 days of purchase, if applicable) rr_RedemptionFeeOverRedemption (2.00%)
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.30%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.10%
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.12%) [1]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 0.98%
One Year rr_ExpenseExampleYear01 $ 100
Three Years rr_ExpenseExampleYear03 338
Five Years rr_ExpenseExampleYear05 595
Ten Years rr_ExpenseExampleYear10 $ 1,329
2008 rr_AnnualReturn2008 (24.52%)
2009 rr_AnnualReturn2009 24.76%
2010 rr_AnnualReturn2010 10.10%
2011 rr_AnnualReturn2011 5.57%
2012 rr_AnnualReturn2012 8.73%
2013 rr_AnnualReturn2013 23.81%
2014 rr_AnnualReturn2014 7.34%
2015 rr_AnnualReturn2015 (1.23%)
2016 rr_AnnualReturn2016 7.09%
2017 rr_AnnualReturn2017 17.71%
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 7.03%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 13.12%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (14.65%)
1 Year rr_AverageAnnualReturnYear01 17.71%
5 Years rr_AverageAnnualReturnYear05 10.60%
10 Years rr_AverageAnnualReturnYear10 7.01%
Auxier Focus Fund | A Shares  
Risk Return Abstract rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol AUXAX
Maximum Sales Charge (Load) Imposed on Purchases of Less Than $1 million (as a percentage of the offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum Contingent Deferred Sales Charge (Load) Imposed on Redemptions (as a percentage of the lesser of the redemption price or offering price) rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00% [2]
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Distributions (as a percentage of the offering price) rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed within 180 days of purchase, if applicable) rr_RedemptionFeeOverRedemption (2.00%)
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.39%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.44%
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.19%) [1]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 1.25%
One Year rr_ExpenseExampleYear01 $ 695
Three Years rr_ExpenseExampleYear03 987
Five Years rr_ExpenseExampleYear05 1,300
Ten Years rr_ExpenseExampleYear10 $ 2,185
1 Year rr_AverageAnnualReturnYear01 10.65%
5 Years rr_AverageAnnualReturnYear05 9.20%
10 Years rr_AverageAnnualReturnYear10 6.32%
Auxier Focus Fund | Institutional Shares  
Risk Return Abstract rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol AUXIX
Maximum Sales Charge (Load) Imposed on Purchases of Less Than $1 million (as a percentage of the offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Contingent Deferred Sales Charge (Load) Imposed on Redemptions (as a percentage of the lesser of the redemption price or offering price) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Distributions (as a percentage of the offering price) rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed within 180 days of purchase, if applicable) rr_RedemptionFeeOverRedemption (2.00%)
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.30%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.10%
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.30%) [1]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 0.80%
One Year rr_ExpenseExampleYear01 $ 82
Three Years rr_ExpenseExampleYear03 320
Five Years rr_ExpenseExampleYear05 577
Ten Years rr_ExpenseExampleYear10 $ 1,313
1 Year rr_AverageAnnualReturnYear01 17.91%
5 Years rr_AverageAnnualReturnYear05 10.84%
10 Years rr_AverageAnnualReturnYear10 7.14% [3]
Auxier Focus Fund | After Taxes on Distributions | Investor Shares  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 16.23%
5 Years rr_AverageAnnualReturnYear05 9.51%
10 Years rr_AverageAnnualReturnYear10 6.28%
Auxier Focus Fund | After Taxes on Distributions and Sales | Investor Shares  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 11.24%
5 Years rr_AverageAnnualReturnYear05 8.29%
10 Years rr_AverageAnnualReturnYear10 5.58%
Auxier Focus Fund | S&P 500® Index (reflects no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 21.83%
5 Years rr_AverageAnnualReturnYear05 15.79%
10 Years rr_AverageAnnualReturnYear10 8.50%
[1] Auxier Asset Management LLC (the "Adviser") has contractually agreed to waive a portion of its fee and/or reimburse Fund expenses to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement (excluding all taxes, interest, portfolio transaction expenses, dividend expenses on short sales, and extraordinary expenses) of Investor Shares, A Shares and Institutional Shares to 0.98 %, 1.25 % and 0.80 %, respectively, through October 31, 2019 (the "Expense Cap"). The Expense Cap may only be raised or eliminated with the consent of the Board of Trustees. The Adviser may be reimbursed by the Fund for fees waived and expenses reimbursed by the Adviser pursuant to the Expense Cap if such payment is made within three years of the fee waiver or expense reimbursement and does not cause the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement of a class to exceed the lesser of (i) the then-current expense cap, and (ii) the expense cap in place at the time the fees/expenses were waived/reimbursed.
[2] Applied to purchases not subject to an initial sales charge and redeemed less than one year after purchase.
[3] Institutional Shares commenced operations on May 9, 2012. Performance for the 5-year and 10 -year periods are a blended average annual return which include the returns of Investor Shares (inception date July 9, 1999) prior to the commencement of operations of Institutional Shares.
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