Frost Low Duration Municipal Bond Fund (First Prospectus Summary) | Frost Low Duration Municipal Bond Fund

FROST LOW DURATION MUNICIPAL BOND FUND

INVESTMENT OBJECTIVE

The Frost Low Duration Municipal Bond Fund (the "Fund") seeks to provide a

consistent level of current income exempt from federal income tax

with a secondary emphasis on maximizing total return.

FUND FEES AND EXPENSES

The table below describes the fees and expenses that you may pay if you buy and

hold Class A Shares of the Fund. You may qualify for sales charge discounts if

you and your family invest, or agree to invest in the future, at least $100,000

in Class A Shares of the Frost Funds (Class A Shares purchased without an

initial sales charge may be subject to a contingent deferred sales charge if

redeemed within 12 months of purchase). More information about these and other

discounts is available from your financial professional and in the section

"Sales Charges" on page 104 of this prospectus.

SHAREHOLDER FEES (FEES PAID DIRECTLY FROM YOUR INVESTMENT)

Shareholder Fees	Frost Low Duration Municipal Bond Fund Class A Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)	2.75%
Maximum Deferred Sales Charge (Load) (as a percentage of net asset value)	none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions (as a percentage of offering price)	none
Redemption Fee (as a percentage of amount redeemed if applicable)	none

ANNUAL FUND OPERATING EXPENSES (EXPENSES THAT YOU PAY EACH YEAR AS A PERCENTAGE OF THE VALUE OF YOUR INVESTMENT)

Annual Fund Operating Expenses		Frost Low Duration Municipal Bond Fund Class A Shares
Management Fees		0.50%
Distribution (12b-1) Fees		0.25%
Other Expenses		0.30%
Acquired Fund Fees and Expenses		0.02%
Total Annual Fund Operating Expenses	[1]	1.07%

EXAMPLE

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 (USD $)	Expense Example, With Redemption, 1 Year	Expense Example, With Redemption, 3 Years	Expense Example, With Redemption, 5 Years	Expense Example, With Redemption, 10 Years
Frost Low Duration Municipal Bond Fund Class A Shares	381	606	849	1,545

PORTFOLIO TURNOVER

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

total annual fund operating expenses or in the example, affect the Fund's

performance. During its most recent fiscal year, the Fund's portfolio turnover

rate was 9% of the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES

Under normal market conditions, the Fund invests at least 80% of its net

assets, at the time of initial purchase, in municipal securities that generate

income exempt from federal income tax, but not necessarily the federal

alternative minimum tax ("AMT").  These securities include securities of

municipal issuers located in Texas as well as in other states, territories and

possessions of the United States. This investment policy may not be changed

without shareholder approval.



The Fund primarily invests in securities that are of investment grade (rated in

one of the four highest rating categories). The Fund may invest more than 25%

of its total assets in bonds of issuers in Texas. The Adviser actively manages

the portfolio, as well as the maturity of the Fund, and purchases securities

which will, on average, mature in less than five years. The Fund tends to have

an average duration within plus or minus one year of the Barclays Capital

Three-Year Municipal Bond Index. The Fund seeks to maintain a low duration, but

may lengthen or shorten its duration within its target range to reflect changes

in the overall composition of the short-term investment-grade debt markets.

Duration is a measure of a bond price's sensitivity to a given change in

interest rates. Generally, the longer a bond's duration, the greater its price

sensitivity to a change in interest rates. For example, the price of a bond

with a duration of three years would be expected to fall approximately 3% if

rates were to rise by one percentage point.



The Adviser, in constructing and maintaining the Fund's portfolio, employs the

following four primary strategies to varying degrees depending on its views of

economic growth prospects, interest rate predictions and relative value

assessments: interest rate positioning based on duration and yield curve

positioning; asset category allocations; credit sector allocations relating to

security ratings by the national ratings agencies; and individual security

selection. Securities will be considered for sale in the event of or in

anticipation of a credit downgrade; to effect a change in duration or sector

weighting of the Fund; to realize an aberration in a security's valuation; or

when the Adviser otherwise deems appropriate.

PRINCIPAL RISKS

As with all mutual funds, a shareholder is subject to the risk that his or her

investment could lose money. A FUND SHARE IS NOT A BANK DEPOSIT AND IT IS NOT

INSURED OR GUARANTEED BY THE FDIC, OR ANY GOVERNMENT AGENCY. The principal risks

affecting shareholders' investments in the Fund are set forth below.



MUNICIPAL ISSUERS RISK -- There may be economic or political changes that

impact the ability of municipal issuers to repay principal and to make interest

payments on municipal securities. Changes in the financial condition or credit

rating of municipal issuers also may adversely affect the value of the Fund's

municipal securities. Constitutional or legislative limits on borrowing by

municipal issuers may result in reduced supplies of municipal securities.

Moreover, certain municipal securities are backed only by a municipal issuer's

ability to levy and collect taxes.



STATE-SPECIFIC RISK -- The Fund is subject to the risk that the economy of the

states in which it invests, and the revenues underlying state municipal bonds,

may decline.  Investing primarily in a single state means that the Fund is more

exposed to negative political or economic factors in that state than a fund

that invests more widely.



INTEREST RATE RISK -- As with most funds that invest in debt securities, changes

in interest rates are one of the most important factors that could affect the

value of your investment. Rising interest rates tend to cause the prices of

debt securities (especially those with longer maturities) and the Fund's share

price to fall.



The concept of duration is useful in assessing the sensitivity of a fixed

income fund to interest rate movements, which are usually the main source of

risk for most fixed-income funds. Duration measures price volatility by

estimating the change in price of a debt security for a 1% change in its yield.

For example, a duration of three years means the price of a debt security will

change about 3% for every 1% change in its yield. Thus, the higher duration,

the more volatile the security.



Debt securities have a stated maturity date when the issuer must repay the

principal amount of the bond. Some debt securities, known as callable bonds,

may repay the principal earlier than the stated maturity date. Debt securities

are most likely to be called when interest rates are falling because the issuer

can refinance at a lower rate.



Rising interest rates may also cause investors to pay off mortgage-backed and

asset-backed securities later than anticipated, forcing the Fund to keep its

money invested at lower rates. Falling interest rates, however, generally cause

investors to pay off mortgage-backed and asset-backed securities earlier than

expected, forcing the Fund to reinvest the money at a lower interest rate.



Mutual funds that invest in debt securities have no real maturity. Instead,

they calculate their weighted average maturity. This number is an average of

the effective or anticipated maturity of each debt security held by the mutual

fund, with the maturity of each security weighted by the percentage of its

assets of the mutual fund it represents.



CREDIT RISK -- The credit rating or financial condition of an issuer may affect

the value of a debt security. Generally, the lower the quality rating of a

security, the greater the risk that the issuer will fail to pay interest fully

and return principal in a timely manner. If an issuer defaults or becomes

unable to honor its financial obligations, the security may lose some or all of

its value. The issuer of an investment-grade security is more likely to pay

interest and repay principal than an issuer of a lower rated bond. Adverse

economic conditions or changing circumstances, however, may weaken the capacity

of the issuer to pay interest and repay principal.



Although the Fund's U.S. government securities are considered to be among the

safest investments, they are not guaranteed against price movements due to

changing interest rates. Obligations issued by some U.S. government agencies

are backed by the U.S. Treasury, while others are backed solely by the ability

of the agency to borrow from the U.S. Treasury or by the government sponsored

agency's own resources. As a result, investments in securities issued by

government sponsored agencies that are not backed by the U.S. Treasury are

subject to higher credit risk than those that are. High yield, or "junk," bonds

are highly speculative securities that are usually issued by smaller less credit

 worthy and/or highly leveraged (indebted)companies. Compared with investment-grade

bonds, high yield bonds carry a greater degree of risk and are less likely to make

payments of interest and principal. Market developments and the financial and

business conditions of the corporation issuing these securities influences their

price and liquidity more than changes in interest rates, when compared to investment-

grade debt securities. Insufficient liquidity in the junk bond market may make it

more difficult to dispose of junk bonds and may cause the Fund to experience sudden

and substantial price declines. A lack of reliable, objective data or market

quotations may make it more difficult to value junk bonds accurately.

PERFORMANCE INFORMATION

The bar chart and the performance table below illustrate the risks and

volatility of an investment in the Fund by showing changes in the Fund's

performance from year to year and by showing how the Fund's average annual

total returns for 1 and 5 years and since inception compare with those of a

broad measure of market performance.



The performance information provided includes the returns of Institutional

Class Shares for periods prior to August 28, 2008.  Institutional Class Shares

of the Fund are offered in a separate prospectus. Institutional Class Shares

would have substantially similar performance as Class A Shares because the

shares are invested in the same portfolio of securities and the annual returns

would differ only to the extent that the expenses of Class A Shares are higher

than the expenses of the Institutional Class Shares and, therefore, returns for

the Class A Shares would be lower than those of the Institutional Class Shares.

Institutional Class Shares performance presented has been adjusted to reflect

the Distribution (12b-1) fees and, for the performance table, the Maximum Sales

Charge (Load), applicable to Class A Shares.



Institutional Class Shares first became available on April 25, 2008, when the

Fund succeeded to the assets and operations of a common trust fund that was

managed by The Frost National Bank (the "Predecessor Fund"). The performance

information provided includes the returns of the Predecessor Fund for periods

prior to April 25, 2008.  Because the Predecessor Fund was not a registered

mutual fund, it was not subject to the same investment and tax restrictions as

the Fund; if it had been, the Predecessor Fund's performance may have been

lower.  The Predecessor Fund's inception start date is August 31, 2004

("Inception Start Date").



The bar chart figures do not include sales charges that may have been paid when

investors bought and sold Class A Shares of the Fund. If sales charges were

included, the returns would be lower. Of course, the Fund's past performance

(before and after taxes) does not necessarily indicate how the Fund will

perform in the future. Updated performance information is available on the

Fund's website at www.frostbank.com or by calling 1-877-71-FROST.

BEST QUARTER          WORST QUARTER

2.14%                 (1.27)%

(12/31/2008)          (03/31/2005)



The performance information shown above is based on a calendar year.  The

Fund's performance for Class A Shares from 1/1/11 to 9/30/11 was 1.73%.

This table compares the Fund's Class A Shares' average annual total returns for

the periods ended December 31, 2010 to those of the Barclays Capital Three-Year

Municipal Bond Index. After-tax returns cannot be calculated for periods before

the Fund's registration as a mutual fund and they are, therefore, unavailable

for the period since the Inception Start Date.



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 will 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-deferred

arrangements, such as 401(k) plans or individual retirement accounts.



Returns after taxes on distributions and sale of Fund shares may be higher than

before-tax returns when a net capital loss occurs upon the redemption of Fund

shares.

AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2010

Average Annual Total Returns Frost Low Duration Municipal Bond Fund	Average Annual Returns, Label	Average Annual Returns, 1 Year	Average Annual Returns, 5 Years	Average Annual Returns, Since Inception	Average Annual Returns, Inception Date
Class A Shares	FUND RETURN BEFORE TAXES	(1.47%)	2.00%	1.46%	Aug. 31, 2004
Class A Shares After Taxes on Distributions	FUND RETURN AFTER TAXES ON DISTRIBUTIONS	(1.47%)
Class A Shares After Taxes on Distributions and Sales	FUND RETURN AFTER TAXES ON DISTRIBUTIONS AND SALE OF FUND SHARES	(0.38%)
BARCLAYS CAPITAL THREE-YEAR MUNICIPAL BOND INDEX	BARCLAYS CAPITAL THREE-YEAR MUNICIPAL BOND INDEX	1.81%	4.22%	3.51%	Aug. 31, 2004

[1] The Total Annual Fund Operating Expenses in this fee table do not correlate to the expense ratio in the Fund's Financial Highlights because the Financial Highlights include only the direct operating expenses incurred by the Fund, and exclude Acquired Fund Fees and Expenses.