XML 19 R2.htm IDEA: XBRL DOCUMENT v3.24.4
Label Element Value
Villere Balanced Fund  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk/Return [Heading] rr_RiskReturnHeading Villere Balanced Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The Villere Balanced Fund (the “Balanced Fund” or the “Fund”) seeks to achieve long-term capital growth consistent with preservation of capital and balanced by current income.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Balanced Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and expense example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Portfolio 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 December 31, 2025
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock
The Balanced 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 Balanced Fund’s performance. During the most recent fiscal year, the Balanced Fund’s portfolio turnover rate was 14% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 14.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund Fees and Expenses (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. Please note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the “Financial Highlights” section of the Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE.
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 Balanced Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Balanced Fund for the time periods indicated and then redeem (sell) 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 Balanced Fund’s operating expenses remain the same (taking into account the contractual Expense Cap for the first year
only).
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption 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
The Balanced Fund pursues its investment objective by principally investing in a combination of common stocks of domestic companies with a minimum market capitalization of $150 million at the time of purchase, as well as high quality fixed-income obligations (i.e., U.S. government and corporate bonds, notes and bills).
Under normal market conditions, the Balanced Fund invests 50% to 80% of its assets in equity securities selected primarily for their growth potential and 20% to 50% of its assets in equity and fixed-income securities selected primarily for their income potential. Additionally, the Balanced Fund may participate in securities lending arrangements with brokers, dealers and financial institutions (but not individuals) in order to increase the return on its portfolio. In selecting investments, the Adviser places a greater emphasis on the income component of the Fund’s portfolio than might be the case for a traditional equity fund.
Of the securities selected for income potential, under normal market conditions, the Balanced Fund will invest at least 25% of its assets in fixed-income securities and short-term instruments. Fixed-income securities will primarily be investment grade, with maturities generally ranging from three to ten years, with an average maturity of approximately four years. The Balanced Fund may also invest up to 10% in domestic high yield debt or “junk bonds” (higher-risk, lower-rated fixed-income securities such as those rated lower than BBB- by S&P or lower than Baa3 by Moody’s). The Balanced Fund's investments in any one sector may exceed 25% of its net assets.
A stock will be considered for sale by the Balanced Fund when its price-to-earnings ratio substantially exceeds its growth rate or when other factors indicate to the Adviser that its competitive advantage is lost. The Adviser may sell a fixed-income security when there is perceived deterioration in the credit fundamentals of the issuer or if the Adviser believes it would be appropriate to do so in order to readjust the duration of the Fund’s investment portfolio. Sales may also be made when consecutive quarterly disappointments occur such as the company not meeting the Adviser’s goals in revenue, earnings or cash flow.
Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration Under normal market conditions, the Balanced Fund invests 50% to 80% of its assets in equity securities selected primarily for their growth potential and 20% to 50% of its assets in equity and fixed-income securities selected primarily for their income potential. Additionally, the Balanced Fund may participate in securities lending arrangements with brokers, dealers and financial institutions (but not individuals) in order to increase the return on its portfolio. In selecting investments, the Adviser places a greater emphasis on the income component of the Fund’s portfolio than might be the case for a traditional equity fund.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock
The following performance information provides some indication of the risks of investing in the Balanced Fund. The bar chart below illustrates how the Balanced Fund’s total returns have varied from year to year. The table below illustrates how the Balanced Fund’s average annual total returns for the 1-year, 5-year and 10-year periods compare with those of a broad measure of market performance and additional indices provided to offer a broader market perspective. The Balanced Fund’s past performance, before and after taxes, is not necessarily an indication of how the Balanced Fund will perform in the future. Updated performance information is available on the Fund’s website at www.villere.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following performance information provides some indication of the risks of investing in the Balanced Fund.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex The table below illustrates how the Balanced Fund’s average annual total returns for the 1-year, 5-year and 10-year periods compare with those of a broad measure of market performance and additional indices provided to offer a broader market perspective.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.villere.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Balanced Fund’s past performance, before and after taxes, is not necessarily an indication of how the Balanced Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Calendar Year Total Returns as of December 31* [1]
Bar Chart Footnotes [Text Block] rr_BarChartFootnotesTextBlock
* The Balanced Fund’s year-to-date return as of the most recent calendar quarter ended September 30, 2024 was 7.67%.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
During the period shown in the bar chart, the Balanced Fund’s highest quarterly return was 16.34% for the quarter ended December 31, 2020 and the lowest quarterly return was -18.82% for the quarter ended March 31, 2020.
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2024
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 7.67%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest quarterly return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2020
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 16.34%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest quarterly return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2020
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (18.82%)
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns as of December 31, 2023
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 Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher The “Return After Taxes on Distributions and Sale of Fund Shares” is higher than other return figures when a capital loss occurs upon the redemption of Fund shares because it assumes the investor received the benefit of a tax deduction.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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 your situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”). The “Return After Taxes on Distributions and Sale of Fund Shares” is higher than other return figures when a capital loss occurs upon the redemption of Fund shares because it assumes the investor received the benefit of a tax deduction.
Villere Balanced Fund | Risk Lose Money [Member]  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock As with all mutual funds, there is the risk that you could lose all or a portion of your investment in the Balanced Fund.
Villere Balanced Fund | Equity Securities Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Equity Securities Risk: The price of equity securities may rise or fall because of economic or political changes or changes in a company's financial condition, sometimes rapidly or unpredictably.
These price movements may result from factors affecting individual companies, sectors or industries selected for the Balanced Fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions.
Villere Balanced Fund | Fixed Income Securities Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Fixed-Income Securities Risks: Fixed-income (debt) securities are generally subject to the following risks:
◦Interest Rate Risk. The value of the Balanced Fund’s investments in fixed-income securities will change based on changes in interest rates. If interest rates increase, the value of these investments generally decline. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value.
◦Extension Risk. If interest rates rise, repayments of principal on certain fixed-income securities may occur at a slower-than-expected rate and, as a result, the expected maturity of such securities could lengthen which could cause their value to decline.
◦Credit Risk. The Balanced Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Balanced Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.
◦Prepayment Risk. Issuers of securities held by the Balanced Fund may be able to prepay principal due on these securities, particularly during periods of declining interest rates, and the Balanced Fund may have to invest the proceeds in lower-yielding securities.
Villere Balanced Fund | Fixed Income Securities Risk, Interest Rate Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Interest Rate Risk. The value of the Balanced Fund’s investments in fixed-income securities will change based on changes in interest rates. If interest rates increase, the value of these investments generally decline. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value.
Villere Balanced Fund | Fixed Income Securities Risk, Extension Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Extension Risk. If interest rates rise, repayments of principal on certain fixed-income securities may occur at a slower-than-expected rate and, as a result, the expected maturity of such securities could lengthen which could cause their value to decline.
Villere Balanced Fund | Fixed Income Securities Risk, Credit Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Credit Risk. The Balanced Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Balanced Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.
Villere Balanced Fund | Fixed Income Securities Risk, Prepayment Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Prepayment Risk. Issuers of securities held by the Balanced Fund may be able to prepay principal due on these securities, particularly during periods of declining interest rates, and the Balanced Fund may have to invest the proceeds in lower-yielding securities.
Villere Balanced Fund | Management Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Management Risk: The Adviser may fail to implement the Fund’s investment strategies and meet its investment objective.
Villere Balanced Fund | General Market Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock General Market Risk: Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in the general financial markets, a particular financial market, or other asset classes due to a number of factors, including: inflation (or expectations for inflation); deflation (or expectations for deflation); interest rates; global demand for particular products or resources; natural disasters or events; pandemic diseases; terrorism; regulatory events; other governmental trade or market control programs and related geopolitical events. In addition, the value of the Fund’s investments may be negatively affected by the occurrence of global events such as war, terrorism, environmental disasters, natural disasters or events, country instability, and infectious disease epidemics or pandemics.
Villere Balanced Fund | High Yield ("Junk Bond") Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock High Yield (“Junk Bond”) Risk: The value of fixed-income securities held by the Fund that are rated below investment grade are subject to additional risk factors such as increased possibility of default, decreased liquidity of the security and changes in value based on public perception of the issuer.
Villere Balanced Fund | Large-Sized Companies Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Large-Sized Companies Risk: Larger, more established companies may be unable to respond quickly to new competitive challenges like changes in consumer tastes or innovative smaller competitors. In addition, large-cap companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.
Villere Balanced Fund | Sector Emphasis Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Sector Emphasis Risk: The Balanced Fund, from time to time, may invest 25% or more of its assets in one or more sectors subjecting the Balanced Fund to sector emphasis risk. This is the risk that the Balanced Fund is subject to a greater risk of loss as a result of adverse economic, business or other developments affecting a specific sector that the Balanced Fund has a focused position in, than if its investments were diversified across a greater number of industry sectors. Some sectors possess particular risks that may not affect other sectors.
Villere Balanced Fund | Securities Lending Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Securities Lending Risk: Securities lending involves the risk that the borrower may fail to return the securities in a timely manner or at all. As a result, the Balanced Fund may lose money and there may be a delay in recovering the loaned securities. The Balanced Fund could also lose money if it does not recover the securities and/or the value of the collateral falls, including the value of investments made with cash collateral.
Villere Balanced Fund | Small- And Medium-Sized Companies Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Small- and Medium-Sized Companies Risk: Investing in securities of smaller companies including micro-cap, small-cap, medium-cap and less seasoned companies often involve greater volatility than investing in larger, more established companies and these securities may be less liquid than other securities.
Villere Balanced Fund | S&P 500® Index (reflects no deduction for fees, expenses or taxes)  
Prospectus [Line Items] rr_ProspectusLineItems  
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes (reflects no deduction for fees, expenses or taxes)
Label rr_AverageAnnualReturnLabel S&P 500® Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 26.29%
5 Years rr_AverageAnnualReturnYear05 15.69%
10 Years rr_AverageAnnualReturnYear10 12.03%
Villere Balanced Fund | Lipper Balanced Funds Index (reflects no deduction for taxes)  
Prospectus [Line Items] rr_ProspectusLineItems  
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes (reflects no deduction for taxes)
Label rr_AverageAnnualReturnLabel Lipper Balanced Funds Index (reflects no deduction for taxes)
1 Year rr_AverageAnnualReturnYear01 13.92%
5 Years rr_AverageAnnualReturnYear05 8.42%
10 Years rr_AverageAnnualReturnYear10 6.43%
Villere Balanced Fund | Bloomberg Intermediate Government/Credit Bond Index (reflects no deduction for fees, expenses or taxes)  
Prospectus [Line Items] rr_ProspectusLineItems  
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes (reflects no deduction for fees, expenses or taxes)
Label rr_AverageAnnualReturnLabel Bloomberg Intermediate Government/Credit Bond Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 5.24%
5 Years rr_AverageAnnualReturnYear05 1.59%
10 Years rr_AverageAnnualReturnYear10 1.72%
Villere Balanced Fund | S&P 500® Index (65%)/Bloomberg Intermediate Government/Credit Bond Index (35%) (reflects no deduction for fees, expenses or taxes)  
Prospectus [Line Items] rr_ProspectusLineItems  
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes (reflects no deduction for fees, expenses or taxes)
Label rr_AverageAnnualReturnLabel S&P 500® Index (65%)/Bloomberg Intermediate Government/Credit Bond Index (35%) (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 18.67%
5 Years rr_AverageAnnualReturnYear05 10.92%
10 Years rr_AverageAnnualReturnYear10 8.58%
Villere Balanced Fund | Investor Class  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol VILLX
Shareholder Fee, Other rr_ShareholderFeeOther none
Management Fees (as a percentage of Assets) rr_ManagementFeesOverAssets 0.75%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses (as a percentage of Assets): rr_OtherExpensesOverAssets 0.30%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01% [2]
Expenses (as a percentage of Assets) rr_ExpensesOverAssets 1.06%
Fee Waiver or Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.16%) [3]
Net Expenses (as a percentage of Assets) rr_NetExpensesOverAssets 0.90% [3]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 92
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 321
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 569
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,280
Annual Return 2014 rr_AnnualReturn2014 (3.08%) [1]
Annual Return 2015 rr_AnnualReturn2015 (8.24%) [1]
Annual Return 2016 rr_AnnualReturn2016 9.99% [1]
Annual Return 2017 rr_AnnualReturn2017 9.13% [1]
Annual Return 2018 rr_AnnualReturn2018 (5.98%) [1]
Annual Return 2019 rr_AnnualReturn2019 21.85% [1]
Annual Return 2020 rr_AnnualReturn2020 10.99% [1]
Annual Return 2021 rr_AnnualReturn2021 7.16% [1]
Annual Return 2022 rr_AnnualReturn2022 (19.59%) [1]
Annual Return 2023 rr_AnnualReturn2023 10.66% [1]
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 10.66%
5 Years rr_AverageAnnualReturnYear05 5.22%
10 Years rr_AverageAnnualReturnYear10 2.61%
Villere Balanced Fund | Investor Class | After Taxes on Distributions  
Prospectus [Line Items] rr_ProspectusLineItems  
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 10.22%
5 Years rr_AverageAnnualReturnYear05 4.06%
10 Years rr_AverageAnnualReturnYear10 1.38%
Villere Balanced Fund | Investor Class | After Taxes on Distributions and Sales  
Prospectus [Line Items] rr_ProspectusLineItems  
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions and Sale of Fund Shares
1 Year rr_AverageAnnualReturnYear01 6.62%
5 Years rr_AverageAnnualReturnYear05 4.10%
10 Years rr_AverageAnnualReturnYear10 1.91%
Villere Equity Fund  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk/Return [Heading] rr_RiskReturnHeading Villere Equity Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The Villere Equity Fund (the “Equity Fund” or the “Fund”) seeks to achieve long-term growth.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Equity Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and expense example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Portfolio 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 December 31, 2025
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock
The Equity 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 Equity Fund’s performance. During the most recent fiscal year, the Equity Fund’s portfolio turnover rate was 24% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 24.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund Fees and Expenses (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. Please note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the “Financial Highlights” section of the Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE.
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 Equity Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Equity Fund for the time periods indicated and then redeem (sell) 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 Equity Fund’s operating
expenses remain the same.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption 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
The Equity Fund strives to be fully invested at all times. Under normal market conditions, the Equity Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. The Equity Fund will provide shareholders with at least 60 days notice before changing this 80% policy. The Adviser utilizes a bottom-up approach to select domestic equity securities that it believes will offer growth regardless of the economic cycle, interest rates or political climate. The Equity Fund may invest in companies of any capitalization size. The Equity Fund primarily invests in common stocks of approximately 20 to 30 companies, but may also invest in preferred stocks, rights and warrants, and may occasionally invest in initial public offerings of companies. The Equity Fund may invest up to 10% of its assets in foreign securities through American Depositary Receipts (“ADRs”). Additionally, the Equity Fund may participate in securities lending arrangements with brokers, dealers and financial institutions (but not individuals) in order to increase the return on its portfolio. The Equity Fund's investments in any one sector may exceed 25% of its net assets.
A stock will be considered for sale by the Equity Fund when its price-to-earnings ratio substantially exceeds its growth rate or when other factors indicate to the Adviser that its competitive advantage is lost. Sales may also be made when consecutive quarterly disappointments occur, such as the company not meeting the Adviser’s goals in revenue, earnings or cash flow.
Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration The Equity Fund strives to be fully invested at all times. Under normal market conditions, the Equity Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. The Equity Fund will provide shareholders with at least 60 days notice before changing this 80% policy. The Adviser utilizes a bottom-up approach to select domestic equity securities that it believes will offer growth regardless of the economic cycle, interest rates or political climate. The Equity Fund may invest in companies of any capitalization size. The Equity Fund primarily invests in common stocks of approximately 20 to 30 companies, but may also invest in preferred stocks, rights and warrants, and may occasionally invest in initial public offerings of companies. The Equity Fund may invest up to 10% of its assets in foreign securities through American Depositary Receipts (“ADRs”). Additionally, the Equity Fund may participate in securities lending arrangements with brokers, dealers and financial institutions (but not individuals) in order to increase the return on its portfolio. The Equity Fund's investments in any one sector may exceed 25% of its net assets.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Equity Fund
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock
The following performance information provides some indication of the risks of investing in the Equity Fund. The bar chart below illustrates how the Equity Fund’s total returns have varied from year to year. The table below illustrates how the Equity Fund’s average annual total returns for the 1-year, 5-year and 10-year periods compare with those of a broad measure of market performance and an additional index provided to offer a broader market perspective. The Equity Fund’s past performance, before and after taxes, is not necessarily an indication of how the Equity Fund will perform in the future. Updated performance information is available on the Fund’s website at www.villere.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following performance information provides some indication of the risks of investing in the Equity Fund.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex The table below illustrates how the Equity Fund’s average annual total returns for the 1-year, 5-year and 10-year periods compare with those of a broad measure of market performance and an additional index provided to offer a broader market perspective.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.villere.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Equity Fund’s past performance, before and after taxes, is not necessarily an indication of how the Equity Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Calendar Year Total Returns as of December 31* [4]
Bar Chart Footnotes [Text Block] rr_BarChartFootnotesTextBlock
* The Equity Fund’s year-to-date return as of the most recent calendar quarter ended September 30, 2024 was 7.57%.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
During the period shown in the bar chart, the Equity Fund’s highest quarterly return was 20.09% for the quarter ended December 31, 2020, and the lowest quarterly return was -23.07% for the quarter ended June 30, 2022.
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2024
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 7.57%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest quarterly return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2020
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 20.09%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest quarterly return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2022
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (23.07%)
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns as of December 31, 2023
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 Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher The “Return After Taxes on Distributions and Sale of Fund Shares” is higher than other return figures when a capital loss occurs upon the redemption of Fund shares because it assumes the investor received the benefit of a tax deduction.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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 your situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”). The “Return After Taxes on Distributions and Sale of Fund Shares” is higher than other return figures when a capital loss occurs upon the redemption of Fund shares because it assumes the investor received the benefit of a tax deduction.
Villere Equity Fund | Risk Lose Money [Member]  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock As with all mutual funds, there is the risk that you could lose all or a portion of your investment in the Equity Fund.
Villere Equity Fund | Equity Securities Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Equity Securities Risk: The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Equity Fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions.
Villere Equity Fund | Growth Style Investment Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Growth Style Investment Risk: Growth-oriented funds may underperform when value investing is in favor. In addition, growth securities typically trade at higher multiples of current earnings than other securities and, therefore, may be more sensitive to changes in current or expected earnings than other equity securities and may be more volatile.
Villere Equity Fund | Management Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Management Risk: The Adviser may fail to implement the Equity Fund’s investment strategies and meet its investment objective.
Villere Equity Fund | ADR Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock ADR Risk: The performance of foreign securities depends on the political, social, and economic environments and other overall economic conditions. The Equity Fund may invest its assets in securities of foreign issuers in the form of ADRs, which are securities representing securities of foreign issuers. A purchaser of unsponsored depositary receipts may not have unlimited voting rights and may not receive as much information about the issuer of the underlying securities as with a sponsored depositary receipt.
Villere Equity Fund | General Market Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock General Market Risk: Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in the general financial markets, a particular financial market, or other asset classes due to a number of factors, including: inflation (or expectations for inflation); deflation (or expectations for deflation); interest rates; global demand for particular products or resources; natural disasters or events; pandemic diseases; terrorism; regulatory events; other governmental trade or market control programs and related geopolitical events. In addition, the value of the Fund’s investments may be negatively affected by the occurrence of global events such as war, terrorism, environmental disasters, natural disasters or events, country instability, and infectious disease epidemics or pandemics.
Villere Equity Fund | Initial Public Offering ("IPO") Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Initial Public Offering (“IPO”) Risk: IPO share prices can be volatile and fluctuate considerably due to factors such as the absence of a prior public market, unseasoned trading, a limited number of shares available for trading, and limited operating history and/or information about the issuer. The purchase of IPO shares may involve high transaction costs. IPO shares are subject to market risk and liquidity risk.
Villere Equity Fund | Large-Sized Companies Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Large-Sized Companies Risk: Larger, more established companies may be unable to respond quickly to new competitive challenges like changes in consumer tastes or innovative smaller competitors. In addition, large-cap companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.
Villere Equity Fund | Sector Emphasis Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Sector Emphasis Risk: The Equity Fund, from time to time, may invest 25% or more of its assets in one or more sectors subjecting the Equity Fund to sector emphasis risk. This is the risk that the Equity Fund is subject to a greater risk of loss as a result of adverse economic, business or other developments affecting a specific sector that the Equity Fund has a focused position in, than if its investments were diversified across a greater number of industry sectors. Some sectors possess particular risks that may not affect other sectors.
Villere Equity Fund | Securities Lending Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Securities Lending Risk: Securities lending involves the risk that the borrower may fail to return the securities in a timely manner or at all. As a result, the Equity Fund may lose money and there may be a delay in recovering the loaned securities. The Equity Fund could also lose money if it does not recover the securities and/or the value of the collateral falls, including the value of investments made with cash collateral.
Villere Equity Fund | Small- And Medium-Sized Companies Risk Member  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk [Text Block] rr_RiskTextBlock Small- and Medium-Sized Companies Risk: Investing in securities of smaller companies including micro-cap, small-cap, medium-cap and less seasoned companies often involve greater volatility than investing in larger, more established companies and these securities may be less liquid than other securities.
Villere Equity Fund | S&P 500® Index (reflects no deduction for fees, expenses or taxes)  
Prospectus [Line Items] rr_ProspectusLineItems  
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes (reflects no deduction for fees, expenses or taxes)
Label rr_AverageAnnualReturnLabel S&P 500® Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 26.29%
5 Years rr_AverageAnnualReturnYear05 15.69%
10 Years rr_AverageAnnualReturnYear10 12.03%
Villere Equity Fund | Lipper Mid-Cap Growth Funds Index (reflects no deduction for taxes)  
Prospectus [Line Items] rr_ProspectusLineItems  
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes (reflects no deduction for taxes)
Label rr_AverageAnnualReturnLabel Lipper Mid-Cap Growth Funds Index (reflects no deduction for taxes)
1 Year rr_AverageAnnualReturnYear01 20.33%
5 Years rr_AverageAnnualReturnYear05 11.52%
10 Years rr_AverageAnnualReturnYear10 9.06%
Villere Equity Fund | Investor Class  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol VLEQX
Redemption Fee (as a percentage of Amount Redeemed) rr_RedemptionFeeOverRedemption (2.00%)
Management Fees (as a percentage of Assets) rr_ManagementFeesOverAssets 0.75%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses (as a percentage of Assets): rr_OtherExpensesOverAssets 0.58%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02% [5]
Expenses (as a percentage of Assets) rr_ExpensesOverAssets 1.35%
Fee Waiver or Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.18%) [6]
Net Expenses (as a percentage of Assets) rr_NetExpensesOverAssets 1.17% [6]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 119
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 410
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 722
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,608
Annual Return 2014 rr_AnnualReturn2014 (6.28%) [4]
Annual Return 2015 rr_AnnualReturn2015 (11.19%) [4]
Annual Return 2016 rr_AnnualReturn2016 10.49% [4]
Annual Return 2017 rr_AnnualReturn2017 7.34% [4]
Annual Return 2018 rr_AnnualReturn2018 (6.98%) [4]
Annual Return 2019 rr_AnnualReturn2019 24.50% [4]
Annual Return 2020 rr_AnnualReturn2020 14.76% [4]
Annual Return 2021 rr_AnnualReturn2021 5.76% [4]
Annual Return 2022 rr_AnnualReturn2022 (24.48%) [4]
Annual Return 2023 rr_AnnualReturn2023 11.31% [4]
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 11.31%
5 Years rr_AverageAnnualReturnYear05 4.90%
10 Years rr_AverageAnnualReturnYear10 1.55%
Villere Equity Fund | Investor Class | After Taxes on Distributions  
Prospectus [Line Items] rr_ProspectusLineItems  
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 10.14%
5 Years rr_AverageAnnualReturnYear05 4.10%
10 Years rr_AverageAnnualReturnYear10 1.07%
Villere Equity Fund | Investor Class | After Taxes on Distributions and Sales  
Prospectus [Line Items] rr_ProspectusLineItems  
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions and Sale of Fund Shares
1 Year rr_AverageAnnualReturnYear01 7.54%
5 Years rr_AverageAnnualReturnYear05 3.86%
10 Years rr_AverageAnnualReturnYear10 1.20%
[1] The Balanced Fund’s year-to-date return as of the most recent calendar quarter ended September 30, 2024 was 7.67%.
[2] Acquired Fund Fees and Expenses (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. Please note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the “Financial Highlights” section of the Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE.
[3] St. Denis J. Villere & Company (the “Adviser”) has contractually agreed to reduce its fees and/or pay Fund expenses (excluding acquired fund fees and expenses, interest expense in connection with investment activities, taxes, and extraordinary expenses) in order to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement to 0.89% of the Fund’s average daily net assets (the “Expense Cap”). The Expense Cap is indefinite, but will remain in effect until at least December 31, 2025. The Expense Cap may be terminated at any time by the Trust’s Board of Trustees (the “Board”) upon 60 days’ notice to the Adviser, or by the Adviser with consent of the Board. The Adviser is permitted, with Board approval, to be reimbursed for fee reductions and/or expense payments made in the prior three years from the date the fees were waived and/or expenses were paid. This reimbursement may be requested if the aggregate amount actually paid by the Fund toward operating expenses for such period (taking into account any reimbursement) does not exceed the lesser of the Expense Caps in place at the time of waiver or at the time of reimbursement.
[4] The Equity Fund’s year-to-date return as of the most recent calendar quarter ended September 30, 2024 was 7.57%.
[5] Acquired Fund Fees and Expenses (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. Please note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the “Financial Highlights” section of the Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE
[6] St. Denis J. Villere & Company (the “Adviser”) has contractually agreed to reduce its fees and/or pay Fund expenses (excluding acquired fund fees and expenses, interest expense in connection with investment activities, taxes, and extraordinary expenses) in order to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement to 1.15% of the Fund’s average daily net assets (the “Expense Cap”). The Expense Cap is indefinite, but will remain in effect until at least December 31, 2025. The Expense Cap may be terminated at any time by the Trust’s Board of Trustees (the “Board”) upon 60 days’ notice to the Adviser, or by the Adviser with consent of the Board. The Adviser is permitted, with Board approval, to be reimbursed for fee reductions and/or expense payments made in the prior three years from the date the fees were waived and/or expenses were paid. This reimbursement may be requested if the aggregate amount actually paid by the Fund toward operating expenses for such period (taking into account any reimbursement) does not exceed the lesser of the Expense Caps in place at the time of waiver or at the time of reimbursement.