XML 27 R87.htm IDEA: XBRL DOCUMENT v3.3.0.814
Label Element Value
PNC MID CAP INDEX FUND  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading PNC MID CAP INDEX FUND
Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Fund seeks to approximate, before fees and expenses, the investment results of the S&P MidCap 400® Index.

Expense [Heading] rr_ExpenseHeading FUND FEES AND EXPENSES
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

The following table describes the fees and expenses that you may pay if you buy and hold Fund shares.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination Sep. 27, 2016
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading PORTFOLIO TURNOVER
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 119% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 119.00%
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in Class I, Class R4 and Class R5 Shares of 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 the Fee Waiver and Expense Reimbursement is reflected only in the one-year period below. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Strategy [Heading] rr_StrategyHeading PRINCIPAL INVESTMENT STRATEGIES
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

Under normal circumstances, the Fund invests substantially all of its net assets plus any borrowings for investment purposes in securities or investments whose returns are based on the performance of a company or companies represented in the S&P MidCap 400® Index.


The S&P MidCap 400® Index provides investors with a benchmark for mid-sized companies. The index, which is distinct from the large-cap S&P 500® Index, measures the performance of mid-sized companies, reflecting the distinctive risk and return characteristics of this market segment. Under normal circumstances, the Fund will principally invest in stocks included in the S&P MidCap 400® Index in approximately the same relative proportion as those stocks are represented in the S&P MidCap 400® Index. The Fund does not, however, simply invest in a portfolio that replicates the precise composition of the S&P MidCap 400® Index, and PNC Capital Advisors, LLC (the "Adviser") does not generally "manage" the Fund in the traditional sense (i.e., by using economic, financial or market analysis). For example, the Adviser may use statistical sampling or other techniques to attempt to create an investment portfolio whose return, before fees and expenses, will closely match the return of the S&P MidCap 400® Index. Additionally, the Adviser believes that employing certain active management strategies for a percentage of the Fund's assets, if successful, may result in net returns after fees and expenses that may more closely approximate the returns of the S&P MidCap 400® Index. For example, the Adviser may invest in S&P MidCap 400® Index futures and exchange-traded products ("ETPs") in addition to, or in place of, stocks held in the S&P MidCap 400® Index to attempt to equal the performance of the S&P MidCap 400® Index.


The Fund may also invest in S&P 500® Index and Russell 2000® Index derivatives with economic characteristics similar to one or more of the common stocks in the S&P MidCap 400® Index. The Fund may use derivatives, for example, as a substitute for taking a position in an underlying asset, to manage risk/volatility or as part of a hedging strategy. Derivative instruments include, but are not limited to, options, swaps, futures and options on futures.


The Fund normally seeks to remain fully invested. To help stay fully invested, to manage the Fund's liquidity, to reduce transaction costs or for other investment purposes, the Fund may invest in derivative instruments, including stock futures. The Fund may also use derivatives such as total return swaps to obtain exposure to a stock, a basket of stocks, or an index. Generally, a derivative is a financial contract whose value is based on the value of a financial asset (such as a stock, bond, or currency), a physical asset (such as gold, oil, or wheat), or a market index (such as the S&P MidCap 400® Index). Investments in derivatives may subject the Fund to risks different from, and possibly greater than, those of the underlying securities, assets, or market indexes.

Risk [Heading] rr_RiskHeading PRINCIPAL RISKS
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Derivatives Risk. Derivatives are financial instruments whose values depend upon, or are derived from, the value of a reference asset, such as one or more underlying assets, indexes or currencies and may include, but are not limited to, options, swaps, forward currency contracts, futures and options on futures. A small investment in derivatives could have a potentially large impact on the Fund's performance. The use of derivatives involves risks different from the risks associated with investing directly in the reference asset. Derivatives can be volatile, illiquid and difficult to value, and an imperfect correlation may exist between changes in the value of a derivative held by the Fund and the value of the reference asset. Generally speaking, some derivatives are "leveraged" and therefore may magnify or otherwise increase investment losses to the Fund, as even a small investment in derivatives can have a significant impact on the Fund's exposure to, among other things, securities' market values, interest rates or currency exchange rates. The Fund's use of derivatives may also affect the amount, timing or character of distributions payable to shareholders, and thus taxes payable by taxable shareholders. In addition, there is also the risk that a Fund may be unable to terminate or sell a derivatives position. There is also the risk that derivative counterparties may suffer financial difficulties and may not fulfill their contractual obligations to the Fund. Derivatives are also subject to operations risk, which is the risk that loss will occur as a result of inadequate systems and controls, human error, or otherwise.


Focused Investment Risk. To the extent that a Fund focuses its investments in the securities of a particular issuer or companies in a particular country, group of countries, region, market, industry, group of industries, sector or asset class, a Fund's exposure to various risks may be heightened, including price volatility and adverse economic, market, political or regulatory occurrences affecting that issuer, country, group of countries region, market, industry, group of industries, sector or asset class.


Index Tracking Risk. A Fund's return may not match the return of its index for a number of reasons. For example, a Fund incurs a number of operating expenses not applicable to the index and incurs costs associated with buying and selling securities, especially when rebalancing the Fund's securities holdings to reflect changes in the composition of the index. The Fund will also have to incur transaction costs and adjust its portfolio in connection with raising cash to meet redemptions or deploying cash in connection with new subscriptions. In addition, a Fund's use of a representative sampling approach may cause the Fund's returns to not be as well correlated with the return of the index as would be the case if the Fund merely purchased all of the securities in the index in the precise proportions in which they are represented in such index.


Issuer Risk. The value of the Fund's investments may decline for a number of reasons directly related to the issuer, such as management performance, financial leverage and reduced demand for the issuer's goods or services, in addition to the historical and prospective earnings of the issuer and the value of its assets.


Limited Operating History Risk. A newly formed Fund has no or a limited operating history for investors to evaluate. A newly formed Fund may not attract sufficient assets to achieve or maximize investment and operational efficiencies and remain viable. If a newly formed Fund fails to achieve sufficient scale, it may be liquidated.


Management Risk. The Fund is subject to management risk because it is actively managed. The Adviser will apply investment techniques and risk analysis in making investment decisions for the Fund, but there can be no guarantee that these decisions will produce the desired outcome. Additionally, legislative, regulatory or tax developments may affect the investment techniques available to the Adviser in managing the Fund and may also adversely affect the ability of the Fund to achieve its investment objective.


Market Risk. Market risk is the risk that securities prices will fall over short or extended periods of time. Historically, the securities markets have moved in cycles, and the value of the Fund's securities may fluctuate from day to day. Individual companies may report poor results or be negatively affected by industry and/or economic trends and developments. The prices of securities issued by such companies may decline in response.


Mid-Cap Company Risk. Mid-capitalization companies may be more vulnerable to adverse business or economic events than larger, more established companies. As a result, mid-cap-company stocks may be more volatile than those of larger companies.


Small Company Risk. Small-capitalization companies may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, these small companies may have limited product lines, markets and financial resources, and may depend upon a relatively small management group. Therefore, small-cap stocks may be more volatile than those of larger companies. These securities may be traded over the counter or listed on an exchange. It may be harder to sell the smallest-capitalization-company stocks, which can reduce their selling prices.


All investments are subject to inherent risks, and an investment in the Fund is no exception. Your investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Accordingly, you may lose money by investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney Accordingly, you may lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Your investment in the Fund is not a bank deposit 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 PERFORMANCE INFORMATION
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing performance of the Fund's Class I Shares for each full calendar year and by showing how the average annual returns of the Fund's Class I and Class R4 Shares for the one-year and since-inception periods compare with those of a broad measure of market performance. The bar chart shows the performance of the Fund's Class I Shares. The performance of Class R4 Shares will differ due to differences in expenses. There were no Class R5 Shares outstanding during the periods shown. As with all mutual funds, the Fund's past performance (before and after taxes) does not predict the Fund's future performance. Updated information on the Fund's performance can be obtained by visiting http://pncfunds.com/performance/all/class_i/default.fs or by calling 1-800-622-FUND (3863).

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing performance of the Fund's Class I Shares for each full calendar year and by showing how the average annual returns of the Fund's Class I and Class R4 Shares for the one-year and since-inception periods compare with those of a broad measure of market performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-622-FUND
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress http://pncfunds.com/performance/ all/class_i/default.fs
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture As with all mutual funds, the Fund's past performance (before and after taxes) does not predict the Fund's future performance.
Bar Chart [Heading] rr_BarChartHeading Calendar Year Total Returns
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

Best Quarter

   

5.53

%

 

(12/31/14)

 

Worst Quarter

   

-4.17

%

 

(09/30/14)

 

The Fund's year-to-date total return for Class I Shares through June 30, 2015 was 3.98%.

Year to Date Return, Label rr_YearToDateReturnLabel The Fund's year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2015
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 3.98%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2014
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 5.53%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2014
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (4.17%)
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 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.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown for Class I Shares only. After-tax returns for Class R4 Shares will differ.
Caption rr_AverageAnnualReturnCaption AVERAGE ANNUAL TOTAL RETURNS (For the periods ended December 31, 2014)
PNC MID CAP INDEX FUND | S&P MidCap 400® Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 9.77%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 10.07%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2013
PNC MID CAP INDEX FUND | CLASS I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of net asset value) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions (as a percentage of offering price) rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed, if applicable) rr_RedemptionFeeOverRedemption none
Exchange Fee rr_ExchangeFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 0.15%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fees rr_Component1OtherExpensesOverAssets none
Other rr_Component2OtherExpensesOverAssets 2.52%
Other Expenses rr_OtherExpensesOverAssets 2.52%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.67%
Fee Waiver or Reimbursement rr_FeeWaiverOrReimbursementOverAssets (2.42%) [1]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 0.25% [1]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 26
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 598
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,198
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 2,823
Annual Return 2014 rr_AnnualReturn2014 8.89%
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 8.89%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 9.19%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2013
PNC MID CAP INDEX FUND | CLASS I | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 7.52% [2]
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 7.82% [2]
PNC MID CAP INDEX FUND | CLASS I | After Taxes on Distributions and Sale of Fund Shares  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 5.26% [2]
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 6.51% [2]
PNC MID CAP INDEX FUND | CLASS R4  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of net asset value) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions (as a percentage of offering price) rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed, if applicable) rr_RedemptionFeeOverRedemption none
Exchange Fee rr_ExchangeFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 0.15%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fees rr_Component1OtherExpensesOverAssets 0.15%
Other rr_Component2OtherExpensesOverAssets 2.52%
Other Expenses rr_OtherExpensesOverAssets 2.67%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.82%
Fee Waiver or Reimbursement rr_FeeWaiverOrReimbursementOverAssets (2.42%) [1]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 0.40% [1]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 41
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 644
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,273
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 2,971
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 8.90%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 9.20%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2013
PNC MID CAP INDEX FUND | CLASS R5  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of net asset value) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions (as a percentage of offering price) rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed, if applicable) rr_RedemptionFeeOverRedemption none
Exchange Fee rr_ExchangeFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 0.15%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Servicing Fees rr_Component1OtherExpensesOverAssets 0.05%
Other rr_Component2OtherExpensesOverAssets 2.52%
Other Expenses rr_OtherExpensesOverAssets 2.57%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.72%
Fee Waiver or Reimbursement rr_FeeWaiverOrReimbursementOverAssets (2.42%) [1]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 0.30% [1]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 31
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 613
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,223
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 2,872
[1] The Fund's investment adviser (the "Adviser"), has contractually agreed to waive Management Fees and reimburse or pay certain operating expenses for the Fund to the extent the Fund's Total Annual Operating Expenses exceed 0.25%, 0.40% and 0.30% for Class I, Class R4 and Class R5 Shares, respectively, excluding certain expenses such as extraordinary expenses, acquired fund fees and expenses, taxes, brokerage commissions, dealer and underwriter spreads, commitment fees on leverage facilities, prime broker fees and expenses, interest expense and dividend expenses related to short sales. This contract continues through September 27, 2016, at which time the Adviser will determine whether to renew, revise or discontinue it, except that it may be terminated by the Board of Trustees at any time. The Adviser can be reimbursed by the Fund for any contractual fee reductions or expense reimbursements if reimbursement to the Adviser (a) occurs within the three years following the year in which the Fund accrues a liability or recognizes a contingent liability with respect to such amounts paid, waived or reimbursed by the Adviser and (b) does not cause the Total Annual Operating Expenses of a class to exceed the percentage expense limit that was in effect at the time the Adviser paid, waived or reimbursed the amount being repaid by the Fund.
[2] After-tax returns are shown for Class I Shares only. After-tax returns for Class R4 Shares will differ. 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.