XML 12 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName FENIMORE ASSET MANAGEMENT TRUST
Prospectus Date rr_ProspectusDate May 01, 2017
Investor Shares [Member] | FAM Value Fund | Investor Class  
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) on purchase rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) rr_MaximumDeferredSalesChargeOverOther none
Redemption fee rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 0.90%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.29%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01% [1]
Total Fund Operating Expenses rr_ExpensesOverAssets 1.20% [1]
Fee Waiver/Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.01%) [1]
Net Fund Operating Expenses rr_NetExpensesOverAssets 1.19%
1 Year rr_ExpenseExampleYear01 $ 121
3 Years rr_ExpenseExampleYear03 380
5 Years rr_ExpenseExampleYear05 659
10 Years rr_ExpenseExampleYear10 $ 1,454
Annual Return 2007 rr_AnnualReturn2007 (0.79%)
Annual Return 2008 rr_AnnualReturn2008 (28.68%)
Annual Return 2009 rr_AnnualReturn2009 22.18%
Annual Return 2010 rr_AnnualReturn2010 17.02%
Annual Return 2011 rr_AnnualReturn2011 (0.41%)
Annual Return 2012 rr_AnnualReturn2012 11.39%
Annual Return 2013 rr_AnnualReturn2013 32.96%
Annual Return 2014 rr_AnnualReturn2014 13.41%
Annual Return 2015 rr_AnnualReturn2015 (1.74%)
Annual Return 2016 rr_AnnualReturn2016 15.60%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2011
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 13.34%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (20.68%)
1 Year rr_AverageAnnualReturnYear01 15.60%
5 Years rr_AverageAnnualReturnYear05 13.79%
10 Years rr_AverageAnnualReturnYear10 6.75%
Investor Shares [Member] | FAM Value Fund | Investor Class | after taxes on distributions  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 14.46%
5 Years rr_AverageAnnualReturnYear05 12.66%
10 Years rr_AverageAnnualReturnYear10 6.03%
Investor Shares [Member] | FAM Value Fund | Investor Class | after taxes on distributions and sale of fund shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 10.54%
5 Years rr_AverageAnnualReturnYear05 11.43%
10 Years rr_AverageAnnualReturnYear10 5.56%
Investor Shares [Member] | FAM Value Fund | Investor Class | Russell MidCap Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 13.80%
5 Years rr_AverageAnnualReturnYear05 14.72%
10 Years rr_AverageAnnualReturnYear10 7.86%
Investor Shares [Member] | FAM Value Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading

FAM Value Fund - Investor Shares
Objective [Heading] rr_ObjectiveHeading

Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
FAM Value Fund's investment objective is to maximize long-term return on capital. 
Expense [Heading] rr_ExpenseHeading
Fees and Expenses of the Fund: 
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
The tables below describe the fees and expenses that you may pay if you buy and hold shares of the Fund.
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 May 1, 2018
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 4.25% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 4.25%
Expense Example [Heading] rr_ExpenseExampleHeading

Expense Example: 
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption
EXPENSE EXAMPLE
Strategy [Heading] rr_StrategyHeading

Principal Investment Strategies: 
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

Fenimore Asset Management, Inc. ("Fenimore"), the investment advisor to 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 business worth". Factors considered in evaluating the true business worth include the company's current earnings and Fenimore's opinion as to its future earnings potential. After identifying a company whose securities are determined to have a favorable price-to-earnings relationship, Fenimore plans to invest in such securities until the "true business worth" nears the market price of the company's securities.

 

Generally, the Fund will attempt to remain fully invested in common stocks and securities that are convertible into common stocks, such as convertible bonds and convertible preferred stocks. The Fund may invest in the securities of issuers of all sizes and market capitalizations. The Fund may also invest in the securities of both domestic and foreign issuers and it may invest in shares of other investment companies, including exchange-traded funds ("ETFs").
Risk [Heading] rr_RiskHeading

Principal Risks:
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock
• Stock Market Risk - the value of stocks fluctuate in response to the activities of individual companies and general stock market and economic conditions. Stock prices may decline over short or extended periods of time. Stocks are more volatile and riskier than some other forms of investments.
• Stock Selection Risk - the value stocks chosen for the Fund are subject to the risk that the market may never realize their intrinsic value or their prices may go down.
• Small-Cap Risk - small capitalization companies may not have the size, resources or other assets of large capitalization companies.
• Market Risk - the value of your investment will go up and down, which means that you could lose money.
• Foreign Investment Risk - the Fund may invest in securities of foreign issuers that are traded in foreign markets or may be represented by American Depository Receipts that are traded in the United States. Investments in non-U.S. securities may involve additional risk including exchange rate fluctuation, political or economic instability, the imposition of exchange controls, expropriation, limited disclosure and illiquid markets.
• Investment in Other Investment Companies Risk – the Fund may invest in shares of other investment companies, including ETFs. Shareholders of the Fund will indirectly be subject to the fees and expenses of the other investment companies in which the Fund invests. In addition, shareholders will be exposed to the investment risks associated with investments in other investment companies.
Risk Lose Money [Text] rr_RiskLoseMoney the value of your investment will go up and down, which means that you could lose money.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

Annual Total Return:
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

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 2007. 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.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows changes in the Investor Shares performance since 2007. 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.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress famfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

  

Best Quarter 4Q'11 13.34%

 Worst Quarter

4Q'08 

 -20.68%

 
Performance Table Heading rr_PerformanceTableHeading

AVERAGE TOTAL ANNUAL RETURN

(for the periods ending December 31, 2016)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate The after-tax returns shown in the table 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 the investor's tax situation and may differ from those shown. The after-tax returns are not relevant to 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.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock

 The after-tax returns shown in the table 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 the investor's tax situation and may differ from those shown. The after-tax returns are not relevant to 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] The Advisor has contractually agreed, until May 1, 2018, 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 Investor Shares at 1.18%. 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 Investor 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.