Institutional Shares [Member] | FAM Equity-Income Fund

FAM Equity-Income Fund

Investment Objective:

FAM Equity-Income Fund's investment objective is to provide current income as well

as long-term capital appreciation by investing primarily (at least 80% of its total assets) in income-producing stocks that pay dividends.

Fees and Expenses of the Fund:

The tables below describe the fees and expenses that you may pay if you buy

and hold shares of the Fund.

SHAREHOLDER   FEES

(fees paid directly from your investment)

Shareholder Fees - {FAM Equity-Income Fund Institutional Shares}	Institutional Shares [Member] FAM Equity-Income Fund Institutional Class
Maximum sales charge (load) on purchase	none
Maximum deferred sales charge (load)	none
Redemption fee	none

ANNUAL FUND OPERATING EXPENSES

(expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses - {FAM Equity-Income Fund Institutional Shares}	Institutional Shares [Member] FAM Equity-Income Fund Institutional Class
Management Fees	0.90%
Distribution and Service (12b-1) Fees	none
Other Expenses	0.37%	[1]
Total Fund Operating Expenses	1.27%	[2]
Fee Waiver/Expense Reimbursement	0.17%	[2]
Net Fund Operating Expenses	1.10%	[2]

Expense Example:

ThisExampleisintendedtohelpyoucomparethecostofinvestingintheFundwiththe costofinvestinginothermutualfunds.TheExampleassumesthatyouinvest$10,000intheFundforthetime periodsindicatedandthenredeemallofyoursharesattheendofthoseperiods.TheExamplealsoassumesthat yourinvestmenthasa5%returneachyearandthattheFund'soperatingexpensesremainthesame.Although youractualcostsmaybehigherorlower,basedontheseassumptionsyourcostswouldbe:

EXPENSE EXAMPLE

Expense Example- {FAM Equity-Income Fund Institutional Shares}	1-Year	3-Year	5-Year	10-Year
Institutional Shares [Member] | FAM Equity-Income Fund | Institutional Class | USD ($)	112	386	681	1,519

PortfolioTurnover:

TheFundpaystransactioncosts,suchascommissions,whenitbuysandsellssecurities (or"turnsover"itsportfolio).Ahigherportfolioturnoverratemayindicatehighertransactioncostsandmay result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annualfundoperatingexpensesorintheExample,affecttheFund'sperformance.Duringthemostrecent fiscal year, the Fund's portfolio turnover rate was 10.73% of the average value of its portfolio.

PrincipalInvestmentStrategies:

FenimoreAssetManagement,Inc.("Fenimore"),theinvestmentadvisorto the Fund employs a "value approach" in making its common stock selections.  This approach is based on Fenimore's belief that at any given point in time the stock price of a company may sell below the company's "true businessworth".   Factorsconsideredinevaluatingthetruebusinessworthincludethecompany'scurrent earningsandFenimore'sopinionastoitsfutureearningspotential.Afteridentifyingacompanywhosesecuritiesaredeterminedtohaveafavorableprice-to-earningsrelationship,Fenimoreplanstoinvestinsuch securities until the "true business worth" nears the market price of the company's securities.

Generally,theFundwillattempttoremainfullyinvestedincommonstocksandsecuritiesthatareconvertibleintocommonstocks,suchasconvertiblebondsandconvertiblepreferredstocks.TheFundmayinvest in the securities of issuers of all sizes and market capitalizations.The Fund may also invest in the securities ofbothdomesticandforeignissuersanditmayinvestinsharesofotherinvestmentcompanies,including exchange-traded funds ("ETFs").

Principal Risks:

•StockMarketRisk-thevalueofstocksfluctuateinresponsetotheactivitiesofindividualcompanies andgeneralstockmarketandeconomicconditions.   Stockpricesmaydeclineovershortorextended periods of time.  Stocks are more volatile and riskier than some other forms of investments.

•StockSelectionRisk-thevaluestockschosenfortheFundaresubjecttotheriskthatthemarketmay never realize their intrinsic value or their prices may go down.

•Small-CapRisk-smallcapitalizationcompaniesmaynothavethesize,resourcesorotherassetsoflarge capitalization companies.

•MarketRisk-thevalueofyourinvestmentwillgoupanddown,whichmeansthatyoucouldlosemoney.

•Foreign Investment Risk - the Fund may invest in securities of foreign issuers that are traded in foreign marketsormayberepresentedbyAmericanDepositoryReceiptsthataretradedintheUnitedStates. Investments in non-U.S. securities may involve additional risk including exchange rate fluctuation, politicaloreconomicinstability,theimpositionofexchangecontrols,expropriation,limiteddisclosure and illiquid markets.

•InvestmentinOtherInvestmentCompaniesRisk–theFundmayinvestinsharesofotherinvestment companies, including ETFs. Shareholders of the Fund will indirectly be subject to the fees and expenses oftheotherinvestment companies in whichtheFundinvests.Inaddition,shareholderswill be exposed to the investment risks associated with investments in other investment companies.

Annual Total Return:

 The Institutional Shares of the Fund are a newly established share class and therefore do not yet have their own performance history.The performance results shown on this page and the next page for the periods prior to January 1, 2016, the date of commencement of operations for Institutional Shares, are for a class of shares of the Fund that are not offered in this Prospectus, Investor Shares, which are subject to higher fees as a result of differences in the shareholder administrative services fees and certain other fees paid by each class. Institutional Shares and Investor Shares would have substantially similar performance results because the shares of each class are invested in the same portfolio securities of the Fund. Because of the difference in the level of fees paid by Investor Shares, the returns for the Investor Shares will be lower than the returns for Institutional Shares. The following bar chart and table show some indication of the risks of investing in the Fund. The bar chart shows changes in the Investor Shares performance since 2005. The table shows the Investor Shares average annual returns (before and after taxes ) for the one year, five year and ten year periods compared to those of the Russell MidCap Index, the Fund's primary benchmark index. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information may be obtained at the Fund's website famfunds.com.

Best Quarter (ended 6/30/09):

16.68%

Worst Quarter (ended 12/31/08):

-21.88%

The year-to-date return for the Fund's Institutional Shares as of September 30, 2015 was -0.61%.

AVERAGE   ANNUAL   TOTAL   RETURN

(for the periods ending December 31, 2014)

Average Annual Total Returns- {FAM Equity-Income Fund Institutional Shares} - Institutional Shares [Member] - FAM Equity-Income Fund	1 Year	5 Years	10 Years
Institutional Class	7.85%	14.28%	6.20%
Institutional Class | after taxes on distributions	6.62%	13.05%	5.28%
Institutional Class | after taxes on distributions and sale of fund shares	5.41%	11.47%	4.87%
Russell MidCap Index	13.22%	17.19%	9.56%

Theafter-taxreturnsshowninthetablearecalculatedusingthehistoricalhighestindividualfederalmarginal income tax rates, and do not reflect the impact of state and local taxes.  Actual after-tax returns depend ontheinvestor'staxsituationandmaydifferfromthoseshown.   Theafter-taxreturnsarenotrelevantto investors who hold their Fund shares through tax-deferred arrangements  such as 401(k) plans or individual retirement accounts, or to investors who are tax exempt.

[1] "Other Expenses" have been restated based on current contractual arrangements and are estimated for the current fiscal year.

[2] The Advisor has contractually agreed, until May 1, 2017, to waive fees and/or reimburse the Fund certain expenses (excluding interest, taxes, brokerage costs, Acquired Fund Fees and Expenses, dividend expense and extraordinary expenses) to the extent necessary to maintain Net Fund Operating Expenses for Institutional Shares at 1.10%. The Fund has agreed to repay the Advisor for amounts waived or reimbursed by the Advisor pursuant to the Expense Limitation Agreement provided that such repayment does not cause the Net Fund Operating Expenses for Institutional Shares to exceed the above limit and the repayment is made within three years after the year in which the Advisor incurred the expense. This Expense Limitation Agreement may only be amended or terminated by the Fund's Board of Trustees.