XML 20 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Central Index Key dei_EntityCentralIndexKey 0000722885
Pear Tree Panagora Risk Parity Emerging Markets Fund  
Risk/Return: rr_RiskReturnAbstract  
Investment Objective, Heading rr_ObjectiveHeading

Investment Objective:
Investment Objective, Primary rr_ObjectivePrimaryTextBlock

Long-term growth of capital.
Expense, Heading rr_ExpenseHeading

Fee Table and Expenses of Risk Parity Fund
Expense, Narrative rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of Risk Parity Fund.
Operating Expenses, Caption 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 rr_PortfolioTurnoverTextBlock

Risk Parity 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 Risk Parity Fund's performance.  Risk Parity Fund's portfolio turnover rate was 42 percent of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 42.00%
Expense Example, Heading rr_ExpenseExampleHeading

Example
Expense Example, Narrative rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in Risk Parity Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in Risk Parity Fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5 percent return each year and that Risk Parity Fund's operating expenses remain the same as set forth in the table above.  The example also assumes that an expense limitation currently in place is not renewed; therefore, the figures have been adjusted to reflect fee waivers or expense reimbursements only in the periods for which the expense limitation arrangement is expected to continue.

Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Investment Strategy, Heading rr_StrategyHeading

Principal Investment Strategies
Investment Strategy, Narrative rr_StrategyNarrativeTextBlock

Under normal market conditions, Risk Parity Fund invests at least 80 percent of its net assets (plus borrowings for investment purposes) in equity securities, including depository receipts, warrants and rights, of emerging markets issuers, that is, an issuer having a country classification assigned by MSCI from a country included in the MSCI Emerging Markets Index ("MSCI EM").  Risk Parity Fund generally invests in at least eight countries and three or more broad geographic regions, such as Latin America, Asia or Europe. Risk Parity Fund also may invest greater than 25 percent of its assets in a particular region, but not in a single country in that region, and in companies of any capitalization.

To manage Risk Parity Fund's assets, its sub-adviser employs its proprietary, multi-factor risk parity strategy.  A risk-parity strategy is an investment strategy that generally attempts to balance risks across specifically identified factors rather than rely on the securities' market weights reflected in a benchmark.  The risk parity strategy employed to manage Risk Parity Fund's assets follows a disciplined and systematic investment approach based on the philosophy of risk diversification.   The strategy targets factors with proven long-term payoffs, such as value, quality, and momentum, using a proprietary portfolio construction methodology that seeks to avoid all unintended risk concentrations.  The sub-adviser believes that the benefits of this strategy to Risk Parity Fund come from two distinct sources: efficient capture of the factor premia, and portfolio downside protection.  Efficient capture of the factor premia is a result of persistent intended factor exposure and avoidance of unintended factor exposure.  Downside protection is the result of diversification across important risk dimensions.

In addition to emerging markets securities, Risk Parity Fund also may invest in forward foreign currency exchange contracts as well as other types of derivatives (that is, a security or instrument whose value is determined by reference to the value or the change in value of one or more securities, currencies, indices or other financial instruments) in order to attempt to mitigate the adverse effects of foreign currency fluctuations.  Risk Parity Fund also may lend its securities.  Risk Parity Fund may hold cash, or it may manage its cash by investing in cash equivalents and money market funds.
Strategy Portfolio Concentration rr_StrategyPortfolioConcentration

Under normal market conditions, Risk Parity Fund invests at least 80 percent of its net assets (plus borrowings for investment purposes) in equity securities, including depository receipts, warrants and rights, of emerging markets issuers, that is, an issuer having a country classification assigned by MSCI from a country included in the MSCI Emerging Markets Index ("MSCI EM"). Risk Parity Fund generally invests in at least eight countries and three or more broad geographic regions, such as Latin America, Asia or Europe. Risk Parity Fund also may invest greater than 25 percent of its assets in a particular region, but not in a single country in that region, and in companies of any capitalization.
Risk, Heading rr_RiskHeading

Principal Investment Risks
Risk, Narrative rr_RiskNarrativeTextBlock

It is possible to lose money by investing in Risk Parity Fund. An investment in Risk Parity 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.

Market, Industry and Specific Holdings.  The share price of Risk Parity Fund may fall because of weakness in the stock markets, generally, weakness with respect to a particular industry in which Risk Parity Fund has significant holdings, or weaknesses associated with one or more specific companies in which Risk Parity Fund may have substantial investments.  Risk Parity Fund may underperform against its benchmark and broad market indices if certain types of securities it holds (e.g., growth stocks, value stocks, international stocks) are then-out of favor with investors.  In addition, Risk Parity Fund's strategy, while attempting to limit risks from sudden and substantial market corrections following market "bubbles," is unlikely to benefit from market momentum preceding a correction.

Foreign, including Emerging Markets Investing.  Risk Parity Fund's investments in foreign securities (including ADRs) may be adversely affected by political and economic conditions overseas, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar.    The risks of foreign investing are heightened for securities of issuers in emerging market countries. Emerging market countries tend to have economic structures that are less diverse and mature, political systems that are less stable, are more susceptible to governmental interference, and less liquid and efficient trading markets than those of developed countries.

Liquidity Risk. Risk Parity Fund may not be able to sell some or all of its securities at desired prices or may be unable to sell the securities at all.

Active Management Risk.  The sub-adviser's judgments about the attractiveness, value, or potential appreciation of Risk Parity Fund's investments may prove to be incorrect.

Large- and Mid-Capitalization Securities.  Securities issued by large- and mid-cap companies tend to be less volatile than securities issued by smaller companies. Larger companies, however, may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and may be unable to respond as quickly to competitive challenges.

Small- and Micro-Capitalization Securities.  Investments in small- and micro-capitalization companies typically present greater risks than investments in larger companies and, as a result, the performance of Risk Parity Fund may be more volatile than a fund that invests only in large- and mid-cap stocks.

Non-Diversification. Risk Parity Fund is "non-diversified," which means that it may from time to time invest a higher percentage of its assets in a smaller number of issuers. As a result, a decline in the value of the securities of one issuer could have a significant negative effect on Risk Parity Fund.  It also may be considered more risky for Risk Parity Fund to hold large positions in a single issuer because of the possibility of exercising control over the issuer.

Sector. Risk Parity Fund may have significant investments in one or more specific industry sectors, subjecting it to risks greater than general market risk.

Securities Lending.  Securities lending involves two primary risks: investment risk and borrower default risk. Investment risk is the risk that Risk Parity Fund will lose money from the investment of the cash collateral received from the borrower. Borrower default risk is the risk that Risk Parity Fund will lose money due to the failure of a borrower to return a borrowed security in a timely manner.

Derivatives. Risk Parity Fund's investments in forward foreign currency exchange contracts and other derivative instruments are subject to a number of risks, such as counterparty risk, the risk of mispricing or improper valuation, and the risk that the value of the instrument may not increase or decrease as expected.

Please refer to "Fund Objectives, Strategies and Risks" in the Prospectus for further details.
Risk, Lose Money rr_RiskLoseMoney

It is possible to lose money by investing in Risk Parity Fund.
Risk Nondiversified Status rr_RiskNondiversifiedStatus

Non-Diversification. Risk Parity Fund is "non-diversified," which means that it may from time to time invest a higher percentage of its assets in a smaller number of issuers. As a result, a decline in the value of the securities of one issuer could have a significant negative effect on Risk Parity Fund. It also may be considered more risky for Risk Parity Fund to hold large positions in a single issuer because of the possibility of exercising control over the issuer.
Risk, Not Insured Depository Institution rr_RiskNotInsuredDepositoryInstitution

An investment in Risk Parity 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

Past Performance
Performance, Narrative rr_PerformanceNarrativeTextBlock

The following bar chart and table provide some indication of the risks of investing in Risk Parity Fund by showing changes in Risk Parity Fund's performance over time. The tables also compare Risk Parity Fund's performance to a broad measure of market performance that reflects the type of securities in which Risk Parity Fund invests. Past performance does not necessarily indicate how Risk Parity Fund will perform (before and after taxes) in the future.  Updated performance information is available at www.peartreefunds.com.

A Note on Performance

Ordinary Shares and Institutional Shares each commenced operations on June 27, 2013.
Performance, Information Illustrates Variability of Returns rr_PerformanceInformationIllustratesVariabilityOfReturns

The following bar chart and table provide some indication of the risks of investing in Risk Parity Fund by showing changes in Risk Parity Fund's performance over time.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex

The tables also compare Risk Parity Fund's performance to a broad measure of market performance that reflects the type of securities in which Risk Parity Fund invests.
Performance Availability Website Address rr_PerformanceAvailabilityWebSiteAddress

www.peartreefunds.com
Performance Past Does Not Indicate Future rr_PerformancePastDoesNotIndicateFuture

Past performance does not necessarily indicate how Risk Parity Fund will perform (before and after taxes) in the future.
Bar Chart [Heading] rr_BarChartHeading

Calendar Year Total Returns - Ordinary Shares The bar chart below provides performance information for Risk Parity Fund's Ordinary Shares.
Bar Chart, Closing rr_BarChartClosingTextBlock

Calendar year-to-date return of the Ordinary Shares of Risk Parity Fund as of June 30, 2017 was 11.75 percent.

 

Highest Quarterly Return Q1 2016 9.71%
Lowest Quarterly Return Q3 2015 (15.41)%
Year to Date Return, Label rr_YearToDateReturnLabel

Calendar year-to-date return of the Ordinary Shares of Risk Parity Fund as
Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Year to Date Return rr_BarChartYearToDateReturn 11.75%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel

Highest Quarterly Return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 9.71%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel

Lowest Quarterly Return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (15.41%)
Performance Table Heading rr_PerformanceTableHeading

Average Annual Total Returns for the periods ended December 31, 2016
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 or local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred

The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.
Performance Table, One Class of after Tax Shown rr_PerformanceTableOneClassOfAfterTaxShown

After-tax returns are shown only for Ordinary Shares and after-tax returns for Institutional Shares may vary.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher

Actual after-tax returns may differ depending on your individual circumstances.
Performance Table, Closing rr_PerformanceTableClosingTextBlock

After-Tax Returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state or local taxes. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement. After-tax returns are shown only for Ordinary Shares and after-tax returns for Institutional Shares may vary.  Actual after-tax returns may differ depending on your individual circumstances.
Pear Tree Panagora Risk Parity Emerging Markets Fund | MSCI EM Index (reflects no deductions for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes

Reflects no deductions for fees, expenses or taxes
One Year rr_AverageAnnualReturnYear01 11.60%
Life of the Fund rr_AverageAnnualReturnSinceInception 0.92%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 27, 2013
Pear Tree Panagora Risk Parity Emerging Markets Fund | Ordinary Shares  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.60%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.45%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.04%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.34%
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets none [1]
Total Annual Fund Operating Expenses after Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets none [1]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

July 31, 2018
1 Year rr_ExpenseExampleYear01 $ 136
3 Years rr_ExpenseExampleYear03 425
5 Years rr_ExpenseExampleYear05 738
10 Years rr_ExpenseExampleYear10 $ 1,613
Annual Return 2014 rr_AnnualReturn2014 (3.48%)
Annual Return 2015 rr_AnnualReturn2015 (18.00%)
Annual Return 2016 rr_AnnualReturn2016 6.26%
One Year rr_AverageAnnualReturnYear01 6.26%
Life of the Fund rr_AverageAnnualReturnSinceInception (4.04%)
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 27, 2013
Pear Tree Panagora Risk Parity Emerging Markets Fund | Ordinary Shares | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 6.19%
Life of the Fund rr_AverageAnnualReturnSinceInception (4.13%)
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 27, 2013
Pear Tree Panagora Risk Parity Emerging Markets Fund | Ordinary Shares | After Taxes on Distributions and Sales  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 3.95%
Life of the Fund rr_AverageAnnualReturnSinceInception (2.89%)
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 27, 2013
Pear Tree Panagora Risk Parity Emerging Markets Fund | Institutional Shares  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.60%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.43%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.04%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.07%
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 0.95% [1]
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

July 31, 2018
1 Year rr_ExpenseExampleYear01 $ 97
3 Years rr_ExpenseExampleYear03 328
5 Years rr_ExpenseExampleYear05 578
10 Years rr_ExpenseExampleYear10 $ 1,295
One Year rr_AverageAnnualReturnYear01 6.51%
Life of the Fund rr_AverageAnnualReturnSinceInception (3.73%)
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 27, 2013
[1] The Manager, in its capacity as transfer agent to Pear Tree Funds, has contractually agreed until July 31, 2018 to waive such portion of the fees that it would otherwise receive for serving as transfer agent under its agreement with Pear Tree Funds such that the aggregate transfer agent fee with respect to Institutional Shares would be calculated using an annual rate of 0.04 percent of Risk Parity Fund's net assets attributable to Institutional Shares. This fee waiver only may be terminated with the approval of the Trustees. The aggregate transfer agent fee with respect to Ordinary Shares remains unchanged.