Financial Investors Trust
1290 Broadway, Suite 1100
Denver, Colorado 80203
September 23, 2013
Via EDGAR
Ms. Amy Miller
Division of Investment Management
U.S. Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549
Re: | Financial Investors Trust (the Registrant) |
Clough China Fund and Vulcan Value Partners Fund (each a Fund)
File Nos. 33-72424, 811-8194
Dear Ms. Miller:
On behalf of the Registrant and pursuant to Rule 497(c) under the Securities Act of 1933, as amended, attached for filing are exhibits containing interactive data format risk/return summary information that mirrors the risk/return summary information contained in the definitive prospectuses dated August 31, 2013, and filed on September 5, 2013, with respect to each Fund.
If you have any questions or further comments, please contact the undersigned at (720) 917-0864.
Very truly yours, |
/s/ David T. Buhler |
David T. Buhler |
Secretary of Financial Investors Trust |
cc: | Peter H. Schwartz, Esq., Davis Graham & Stubbs LLP |
Label | Element | Value | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||
Registrant Name | dei_EntityRegistrantName | FINANCIAL INVESTORS TRUST | |||||||||||||||||||
Prospectus Date | rr_ProspectusDate | Aug. 31, 2013 | |||||||||||||||||||
Vulcan Value Partners Fund
|
|||||||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | VULCAN VALUE PARTNERS FUND (THE “FUND”) | |||||||||||||||||||
Objective [Heading] | rr_ObjectiveHeading | INVESTMENT OBJECTIVE | |||||||||||||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks to achieve long-term capital appreciation. | |||||||||||||||||||
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 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 | August 31, 2014 | |||||||||||||||||||
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 turnover rate was 24% of the average value of its portfolio. | |||||||||||||||||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 24.00% | |||||||||||||||||||
Expenses Restated to Reflect Current [Text] | rr_ExpensesRestatedToReflectCurrent | Expenses have been restated to reflect current fees. | |||||||||||||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | EXAMPLE | |||||||||||||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This example is intended to help you compare the costs 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 | Number of Years You Own Your Shares |
|||||||||||||||||||
Expense Example, No Redemption, By Year, Caption [Text] | rr_ExpenseExampleNoRedemptionByYearCaption | You would pay the following expenses if you did not redeem your shares: | |||||||||||||||||||
Strategy [Heading] | rr_StrategyHeading | PRINCIPAL INVESTMENT STRATEGIES OF THE FUND | |||||||||||||||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Vulcan Value Partners Fund seeks to achieve long-term capital appreciation by investing primarily in publicly traded mid-cap and large-cap companies the Fund believes to be both undervalued and possessing a sustainable competitive advantage. The Fund views equity investments as ownership in a business enterprise and approaches investing as long-term partial ownership of businesses. The Fund seeks to purchase publicly traded companies at significant discounts to intrinsic worth. The Fund seeks to invest for the long term, limiting the selection of qualifying investments to good businesses with identifiable, sustainable competitive advantages to maximize returns and to minimize risk. The Fund generally defines risk as the probability of permanently losing capital over a five-year period. The Fund generally sells stocks when they approach their appraised value. The Fund seeks to determine business or intrinsic value through disciplined financial analysis. The Fund believes that equities purchased at prices substantially less than their intrinsic worth generally afford capital protection from significant permanent loss and also create the possibility of substantial appreciation if the market recognizes the company’s economic value. This portfolio strategy invests in companies with larger market capitalizations. Generally, subject to price, any publicly traded company with reasonable economics would be a potential investment in this portfolio. A core position in the Fund is generally approximately 5% of the Fund’s portfolio, so that theoretically the Fund would seek to hold about 20 companies, spread across various industries. Because it is rare that the Fund would find exactly 20 companies meeting its investment guidelines, concentration will vary with the price to value ratio of specific companies. The Fund may invest in positions as small as 1% when price to value ratios are higher. The Fund generally will not invest in any business that is trading above the Fund’s estimate of its fair value. Most of these securities are listed on the major securities exchanges. The Fund may invest up to 30% of assets in publicly traded foreign securities and may hold up to 10% of net assets in illiquid securities. If investments meeting the Fund’s criteria are not available, the Fund may invest the Fund’s assets temporarily in obligations of the U.S. government and its agencies, or in other money market instruments. |
|||||||||||||||||||
Risk [Heading] | rr_RiskHeading | PRINCIPAL RISKS OF THE FUND | |||||||||||||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The following is a description of the principal risks of the Fund’s portfolio that may adversely affect its net asset value and total return. Unless otherwise stated, these risks apply to the Fund. There are other circumstances (including additional risks that are not described here) which could prevent the Fund from achieving its investment objective. It is important to read all of the disclosure information provided and to understand that you may lose money by investing in the Fund.
|
|||||||||||||||||||
Risk Lose Money [Text] | rr_RiskLoseMoney | It is important to read all of the disclosure information provided and to understand that you may lose money by investing in the Fund. | |||||||||||||||||||
Risk Nondiversified Status [Text] | rr_RiskNondiversifiedStatus |
|
|||||||||||||||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | PERFORMANCE INFORMATION | |||||||||||||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The following information provides some indication of the risks of investing in the Fund by showing how the Fund’s performance has varied over time. | |||||||||||||||||||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The following information provides some indication of the risks of investing in the Fund by showing how the Fund’s performance has varied over time. | |||||||||||||||||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | 877.421.5078 | |||||||||||||||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | www.vulcanvaluepartners.com | |||||||||||||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | The Fund’s past performance does not necessarily indicate how it will perform in the future. | |||||||||||||||||||
Bar Chart Narrative [Text Block] | rr_BarChartNarrativeTextBlock | The bar chart depicts the change in performance from year to year during the periods indicated. The bar chart figures do not include any applicable sales charges that an investor may pay when they buy or sell Shares of the Fund. If sales charges were included, the returns would be lower. The table compares the Fund’s average annual returns for the periods indicated to broad-based securities market indices. The indices are not actively managed and are not available for direct investment. The bar charts and performance tables assume reinvestment of dividends and distributions. The Fund’s past performance does not necessarily indicate how it will perform in the future. Updated performance information is available on the Fund’s website at www.vulcanvaluepartners.com or by calling 877.421.5078. | |||||||||||||||||||
Bar Chart Does Not Reflect Sales Loads [Text] | rr_BarChartDoesNotReflectSalesLoads | The bar chart figures do not include any applicable sales charges that an investor may pay when they buy or sell Shares of the Fund. If sales charges were included, the returns would be lower. | |||||||||||||||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock |
The Fund’s year-to-date return as of June 30, 2013 was 11.23%. |
|||||||||||||||||||
Performance Table Heading | rr_PerformanceTableHeading | Average Annual Total Returns For the period ended December 31, 2012 |
|||||||||||||||||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using the historically highest individual U.S. 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 your individual tax situation and may differ from those shown in the table below. The after-tax return information shown below does not apply to Fund shares held through a tax-deferred account, such as a 401(k) plan or an IRA. | |||||||||||||||||||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | After-tax returns are calculated using the historically highest individual U.S. federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your individual tax situation and may differ from those shown in the table below. The after-tax return information shown below does not apply to Fund shares held through a tax-deferred account, such as a 401(k) plan or an IRA. | |||||||||||||||||||
Vulcan Value Partners Fund | Vulcan Value Partners Fund
|
|||||||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||
Redemption Fee | rr_RedemptionFeeOverRedemption | 2.00% | [1] | ||||||||||||||||||
Management Fees | rr_ManagementFeesOverAssets | 1.00% | |||||||||||||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.18% | |||||||||||||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.18% | |||||||||||||||||||
Fee Waiver and Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | none | [2] | ||||||||||||||||||
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement | rr_NetExpensesOverAssets | 1.18% | [3] | ||||||||||||||||||
1 Year | rr_ExpenseExampleYear01 | $ 120 | |||||||||||||||||||
3 Years | rr_ExpenseExampleYear03 | 375 | |||||||||||||||||||
5 Years | rr_ExpenseExampleYear05 | 649 | |||||||||||||||||||
10 Years | rr_ExpenseExampleYear10 | 1,430 | |||||||||||||||||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 120 | |||||||||||||||||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 375 | |||||||||||||||||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 649 | |||||||||||||||||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,430 | |||||||||||||||||||
2010 | rr_AnnualReturn2010 | 10.89% | |||||||||||||||||||
2011 | rr_AnnualReturn2011 | 4.01% | |||||||||||||||||||
2012 | rr_AnnualReturn2012 | 24.38% | |||||||||||||||||||
Year to Date Return, Label | rr_YearToDateReturnLabel | year-to-date return | |||||||||||||||||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Jun. 30, 2013 | |||||||||||||||||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | 11.23% | |||||||||||||||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best Quarter | |||||||||||||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Mar. 31, 2012 | |||||||||||||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 14.88% | |||||||||||||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst Quarter | |||||||||||||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Jun. 30, 2010 | |||||||||||||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (12.12%) | |||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 24.38% | |||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 12.47% | |||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 30, 2009 | |||||||||||||||||||
Vulcan Value Partners Fund | Return After Taxes on Distributions | Vulcan Value Partners Fund
|
|||||||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 24.06% | |||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 12.30% | |||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 30, 2009 | |||||||||||||||||||
Vulcan Value Partners Fund | Return After Taxes on Distributions and Sale of Fund Shares | Vulcan Value Partners Fund
|
|||||||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 16.28% | |||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 10.76% | |||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 30, 2009 | |||||||||||||||||||
Vulcan Value Partners Fund | Russell 1000 Value Index® (reflects no deduction for fees, expenses or taxes)
|
|||||||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 17.51% | |||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 10.50% | |||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 30, 2009 | |||||||||||||||||||
Vulcan Value Partners Fund | S&P 500 Total Return Index® (reflects no deduction for fees, expenses or taxes)
|
|||||||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 16.00% | |||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 10.49% | |||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 30, 2009 | |||||||||||||||||||
|
Vulcan Value Partners Fund | ||||||||||||||||||||||||
VULCAN VALUE PARTNERS FUND (THE “FUND”) | ||||||||||||||||||||||||
INVESTMENT OBJECTIVE | ||||||||||||||||||||||||
The Fund seeks to achieve long-term capital appreciation. | ||||||||||||||||||||||||
FEES AND EXPENSES OF THE FUND | ||||||||||||||||||||||||
This table describes 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) | ||||||||||||||||||||||||
|
||||||||||||||||||||||||
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
||||||||||||||||||||||||
|
||||||||||||||||||||||||
EXAMPLE | ||||||||||||||||||||||||
This example is intended to help you compare the costs 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: | ||||||||||||||||||||||||
Number of Years You Own Your Shares |
||||||||||||||||||||||||
|
||||||||||||||||||||||||
You would pay the following expenses if you did not redeem your shares: | ||||||||||||||||||||||||
|
||||||||||||||||||||||||
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 annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s turnover rate was 24% of the average value of its portfolio. | ||||||||||||||||||||||||
PRINCIPAL INVESTMENT STRATEGIES OF THE FUND | ||||||||||||||||||||||||
The Vulcan Value Partners Fund seeks to achieve long-term capital appreciation by investing primarily in publicly traded mid-cap and large-cap companies the Fund believes to be both undervalued and possessing a sustainable competitive advantage. The Fund views equity investments as ownership in a business enterprise and approaches investing as long-term partial ownership of businesses. The Fund seeks to purchase publicly traded companies at significant discounts to intrinsic worth. The Fund seeks to invest for the long term, limiting the selection of qualifying investments to good businesses with identifiable, sustainable competitive advantages to maximize returns and to minimize risk. The Fund generally defines risk as the probability of permanently losing capital over a five-year period. The Fund generally sells stocks when they approach their appraised value. The Fund seeks to determine business or intrinsic value through disciplined financial analysis. The Fund believes that equities purchased at prices substantially less than their intrinsic worth generally afford capital protection from significant permanent loss and also create the possibility of substantial appreciation if the market recognizes the company’s economic value. This portfolio strategy invests in companies with larger market capitalizations. Generally, subject to price, any publicly traded company with reasonable economics would be a potential investment in this portfolio. A core position in the Fund is generally approximately 5% of the Fund’s portfolio, so that theoretically the Fund would seek to hold about 20 companies, spread across various industries. Because it is rare that the Fund would find exactly 20 companies meeting its investment guidelines, concentration will vary with the price to value ratio of specific companies. The Fund may invest in positions as small as 1% when price to value ratios are higher. The Fund generally will not invest in any business that is trading above the Fund’s estimate of its fair value. Most of these securities are listed on the major securities exchanges. The Fund may invest up to 30% of assets in publicly traded foreign securities and may hold up to 10% of net assets in illiquid securities. If investments meeting the Fund’s criteria are not available, the Fund may invest the Fund’s assets temporarily in obligations of the U.S. government and its agencies, or in other money market instruments. |
||||||||||||||||||||||||
PRINCIPAL RISKS OF THE FUND | ||||||||||||||||||||||||
The following is a description of the principal risks of the Fund’s portfolio that may adversely affect its net asset value and total return. Unless otherwise stated, these risks apply to the Fund. There are other circumstances (including additional risks that are not described here) which could prevent the Fund from achieving its investment objective. It is important to read all of the disclosure information provided and to understand that you may lose money by investing in the Fund.
|
||||||||||||||||||||||||
PERFORMANCE INFORMATION | ||||||||||||||||||||||||
The following information provides some indication of the risks of investing in the Fund by showing how the Fund’s performance has varied over time. | ||||||||||||||||||||||||
The bar chart depicts the change in performance from year to year during the periods indicated. The bar chart figures do not include any applicable sales charges that an investor may pay when they buy or sell Shares of the Fund. If sales charges were included, the returns would be lower. The table compares the Fund’s average annual returns for the periods indicated to broad-based securities market indices. The indices are not actively managed and are not available for direct investment. The bar charts and performance tables assume reinvestment of dividends and distributions. The Fund’s past performance does not necessarily indicate how it will perform in the future. Updated performance information is available on the Fund’s website at www.vulcanvaluepartners.com or by calling 877.421.5078. | ||||||||||||||||||||||||
The Fund’s year-to-date return as of June 30, 2013 was 11.23%. |
||||||||||||||||||||||||
After-tax returns are calculated using the historically highest individual U.S. federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your individual tax situation and may differ from those shown in the table below. The after-tax return information shown below does not apply to Fund shares held through a tax-deferred account, such as a 401(k) plan or an IRA. | ||||||||||||||||||||||||
Average Annual Total Returns For the period ended December 31, 2012 |
||||||||||||||||||||||||
|
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Registrant Name | dei_EntityRegistrantName | FINANCIAL INVESTORS TRUST |
Prospectus Date | rr_ProspectusDate | Aug. 31, 2013 |
Document Creation Date | dei_DocumentCreationDate | Sep. 05, 2013 |
Label | Element | Value | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Registrant Name | dei_EntityRegistrantName | FINANCIAL INVESTORS TRUST | ||||||||
Prospectus Date | rr_ProspectusDate | Aug. 31, 2013 | ||||||||
Clough China Fund
|
||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | SUMMARY SECTION CLOUGH CHINA FUND (THE “FUND”) |
||||||||
Objective [Heading] | rr_ObjectiveHeading | INVESTMENT OBJECTIVE | ||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks to provide investors with long-term capital appreciation. | ||||||||
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 and hold shares of the Fund. You may qualify for certain sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in “BUYING, EXCHANGING AND REDEEMING SHARES” at page 81 of the Prospectus and “PURCHASE, EXCHANGE & REDEMPTION OF SHARES” at page 81 of the Fund’s statement of additional information. | ||||||||
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 | August 31, 2014 | ||||||||
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). For U.S. federal income tax purposes, 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 221% of the average value of its portfolio. | ||||||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 221.00% | ||||||||
Expense Breakpoint Discounts [Text] | rr_ExpenseBreakpointDiscounts | You may qualify for certain sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. | ||||||||
Expense Breakpoint, Minimum Investment Required [Amount] | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 50,000 | ||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example | ||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This example helps you compare the costs 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. After one year, the Example does not take into consideration any agreement by the Adviser to waive fees. Although your actual costs may be higher or lower, based on these assumptions your cost would be: | ||||||||
Expense Example by, Year, Caption [Text] | rr_ExpenseExampleByYearCaption | Number of Years You Own Your Shares |
||||||||
Expense Example, No Redemption, By Year, Caption [Text] | rr_ExpenseExampleNoRedemptionByYearCaption | You would pay the following expenses if you did not redeem your shares: | ||||||||
Strategy [Heading] | rr_StrategyHeading | PRINCIPAL INVESTMENT STRATEGIES OF THE FUND | ||||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | To pursue its objective, the Fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that:
|
||||||||
Risk [Heading] | rr_RiskHeading | PRINCIPAL RISKS OF THE FUND | ||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The following is a description of the principal risks of the Fund’s portfolio, which may adversely affect its net asset value and total return. There are other circumstances (including additional risks that are not described here) which could prevent the Fund from achieving its investment objective. It is important to read all the disclosure information provided and to understand that you may lose money by investing in the Fund.
|
||||||||
Risk Lose Money [Text] | rr_RiskLoseMoney | It is important to read all the disclosure information provided and to understand that you may lose money by investing in the Fund. | ||||||||
Risk Nondiversified Status [Text] | rr_RiskNondiversifiedStatus |
|
||||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | PERFORMANCE INFORMATION | ||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The following information provides some indication of the risks of investing in the Fund by showing how the Fund’s performance has varied over time. The performance shown for Class A Shares, Class C Shares and Class I Shares for periods prior to January 15, 2010, reflects the performance of the Old Mutual China Fund’s Class A Shares, Class C Shares and Class I Shares (as result of a prior reorganization of Old Mutual China Fund’s Class A Shares, Class C Shares and Class I Shares into the Fund’s Class A Shares, Class C Shares and Class I Shares), without the effect of any fee and expense limitations or waivers. If Class A Shares, Class C Shares and Class I Shares of the Fund had been available during periods prior to January 15, 2010, the performance shown may have been different. The bar chart depicts the change in performance from year to year during the periods indicated. The bar chart figures do not include any applicable sales charges that an investor may pay when they buy or sell shares of the Fund. If sales charges were included, the returns would be lower. The table compares the Fund’s average annual returns for the periods indicated to a broad-based securities market index. The index is not actively managed and is not available for direct investment. The bar charts and performance tables assume reinvestment of dividends and distributions. The Fund’s past performance does not necessarily indicate how it will perform in the future. Updated performance information is available on the Fund’s website at www.alpsfunds.com or by calling 866.759.5679. |
||||||||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The following information provides some indication of the risks of investing in the Fund by showing how the Fund’s performance has varied over time. | ||||||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | 866.759.5679 | ||||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | www.alpsfunds.com | ||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | The Fund’s past performance does not necessarily indicate how it will perform in the future. | ||||||||
Bar Chart [Heading] | rr_BarChartHeading | Annual Total Return (years ended 12/31) Class A Shares |
||||||||
Bar Chart Does Not Reflect Sales Loads [Text] | rr_BarChartDoesNotReflectSalesLoads | The bar chart figures do not include any applicable sales charges that an investor may pay when they buy or sell shares of the Fund. If sales charges were included, the returns would be lower. | ||||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | Best Quarter June 30, 2009 26.82% Worst Quarter March 31, 2008 -21.03% The Fund’s Class A Share year-to-date return as of June 30, 2013 was 0.05%. |
||||||||
Performance Table Heading | rr_PerformanceTableHeading | Average Annual Total Returns (for the period ended December 31, 2012) |
||||||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using the historically highest individual U.S. 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 your individual tax situation and may differ from those shown in the table below. The after-tax return information shown below does not apply to Fund shares held through a tax-deferred account, such as a 401(k) plan or an IRA. | ||||||||
Performance Table One Class of after Tax Shown [Text] | rr_PerformanceTableOneClassOfAfterTaxShown | After-tax returns are only shown for Class A Shares of the Fund. After-tax returns for Class C Shares and Class I Shares will vary from those shown for Class A Shares due to varying sales charges and expenses among the classes. | ||||||||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | After-tax returns are calculated using distributions for the Old Mutual China Fund – Class A Shares for periods prior to January 15, 2010. If Class A Shares of the Fund had been available during these earlier periods, distributions may have been different and thus, after-tax returns may have been different from those shown. After-tax returns are calculated using the historically highest individual U.S. federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your individual tax situation and may differ from those shown in the table below. The after-tax return information shown below does not apply to Fund shares held through a tax-deferred account, such as a 401(k) plan or an IRA. After-tax returns are only shown for Class A Shares of the Fund. After-tax returns for Class C Shares and Class I Shares will vary from those shown for Class A Shares due to varying sales charges and expenses among the classes. |
||||||||
Clough China Fund | Class A
|
||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum sales charge (load) on purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 5.50% | [1] | |||||||
Maximum deferred sales charge (as a percentage of the lower of original purchase price or redemption proceeds) | rr_MaximumDeferredSalesChargeOverOther | 1.00% | [1] | |||||||
Redemption Fee | rr_RedemptionFeeOverRedemption | 2.00% | [2] | |||||||
Maximum Account Fee (assessed annually on certain accounts under $1,000) | rr_MaximumAccountFee | 12.00 | ||||||||
Management Fees | rr_ManagementFeesOverAssets | 1.35% | ||||||||
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | ||||||||
Shareholder Services Fees | rr_Component1OtherExpensesOverAssets | none | ||||||||
Other Fund Expenses | rr_Component2OtherExpensesOverAssets | 0.54% | ||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.54% | ||||||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | ||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.15% | ||||||||
Fee Waiver and Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.19%) | [3] | |||||||
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement | rr_NetExpensesOverAssets | 1.96% | ||||||||
Expenses Deferred Charges [Text Block] | rr_ExpensesDeferredChargesTextBlock | If you invest $1 million or more, either as a lump sum or through the Fund’s accumulation or letter of intent programs, you can purchase Class A shares without an initial sales charge (load); however, a Contingent Deferred Sales Charge (“CDSC”) of 1.00% may apply to Class A shares redeemed within the first 18 months after a purchase in excess of $1 million. | ||||||||
1 YEAR | rr_ExpenseExampleYear01 | 738 | ||||||||
3 YEARS | rr_ExpenseExampleYear03 | 1,169 | ||||||||
5 YEARS | rr_ExpenseExampleYear05 | 1,624 | ||||||||
10 YEARS | rr_ExpenseExampleYear10 | 2,879 | ||||||||
1 YEAR | rr_ExpenseExampleNoRedemptionYear01 | 738 | ||||||||
3 YEARS | rr_ExpenseExampleNoRedemptionYear03 | 1,169 | ||||||||
5 YEARS | rr_ExpenseExampleNoRedemptionYear05 | 1,624 | ||||||||
10 YEARS | rr_ExpenseExampleNoRedemptionYear10 | 2,879 | ||||||||
2006 | rr_AnnualReturn2006 | 78.55% | ||||||||
2007 | rr_AnnualReturn2007 | 48.73% | ||||||||
2008 | rr_AnnualReturn2008 | (46.81%) | ||||||||
2009 | rr_AnnualReturn2009 | 65.12% | ||||||||
2010 | rr_AnnualReturn2010 | 11.56% | ||||||||
2011 | rr_AnnualReturn2011 | (18.36%) | ||||||||
2012 | rr_AnnualReturn2012 | 23.80% | ||||||||
Year to Date Return, Label | rr_YearToDateReturnLabel | year-to-date return | ||||||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Jun. 30, 2013 | ||||||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | 0.05% | ||||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best Quarter | ||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2009 | ||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 26.82% | ||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst Quarter | ||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Mar. 31, 2008 | ||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (21.03%) | ||||||||
1 Year | rr_AverageAnnualReturnYear01 | 17.01% | ||||||||
5 Years | rr_AverageAnnualReturnYear05 | (1.32%) | ||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 13.89% | ||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 30, 2005 | ||||||||
Clough China Fund | Class C
|
||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum sales charge (load) on purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||
Maximum deferred sales charge (as a percentage of the lower of original purchase price or redemption proceeds) | rr_MaximumDeferredSalesChargeOverOther | 1.00% | [4] | |||||||
Redemption Fee | rr_RedemptionFeeOverRedemption | 2.00% | [2] | |||||||
Maximum Account Fee (assessed annually on certain accounts under $1,000) | rr_MaximumAccountFee | 12.00 | ||||||||
Management Fees | rr_ManagementFeesOverAssets | 1.35% | ||||||||
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.75% | ||||||||
Shareholder Services Fees | rr_Component1OtherExpensesOverAssets | 0.25% | ||||||||
Other Fund Expenses | rr_Component2OtherExpensesOverAssets | 0.59% | ||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.84% | ||||||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | ||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.95% | ||||||||
Fee Waiver and Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.24%) | [3] | |||||||
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement | rr_NetExpensesOverAssets | 2.71% | ||||||||
Expenses Deferred Charges [Text Block] | rr_ExpensesDeferredChargesTextBlock | A Contingent Deferred Sales Charge (“CDSC”) of 1.00% may apply to Class C shares redeemed within the first 12 months after a purchase. | ||||||||
1 YEAR | rr_ExpenseExampleYear01 | 374 | ||||||||
3 YEARS | rr_ExpenseExampleYear03 | 890 | ||||||||
5 YEARS | rr_ExpenseExampleYear05 | 1,531 | ||||||||
10 YEARS | rr_ExpenseExampleYear10 | 3,249 | ||||||||
1 YEAR | rr_ExpenseExampleNoRedemptionYear01 | 274 | ||||||||
3 YEARS | rr_ExpenseExampleNoRedemptionYear03 | 890 | ||||||||
5 YEARS | rr_ExpenseExampleNoRedemptionYear05 | 1,531 | ||||||||
10 YEARS | rr_ExpenseExampleNoRedemptionYear10 | 3,249 | ||||||||
1 Year | rr_AverageAnnualReturnYear01 | 21.90% | ||||||||
5 Years | rr_AverageAnnualReturnYear05 | (0.96%) | ||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 13.96% | ||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 30, 2005 | ||||||||
Clough China Fund | Class I
|
||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum sales charge (load) on purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||
Maximum deferred sales charge (as a percentage of the lower of original purchase price or redemption proceeds) | rr_MaximumDeferredSalesChargeOverOther | none | ||||||||
Redemption Fee | rr_RedemptionFeeOverRedemption | 2.00% | [2] | |||||||
Maximum Account Fee (assessed annually on certain accounts under $1,000) | rr_MaximumAccountFee | 12.00 | ||||||||
Management Fees | rr_ManagementFeesOverAssets | 1.35% | ||||||||
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||||||
Shareholder Services Fees | rr_Component1OtherExpensesOverAssets | none | ||||||||
Other Fund Expenses | rr_Component2OtherExpensesOverAssets | 0.59% | ||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.59% | ||||||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | ||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.95% | ||||||||
Fee Waiver and Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.24%) | [3] | |||||||
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement | rr_NetExpensesOverAssets | 1.71% | ||||||||
1 YEAR | rr_ExpenseExampleYear01 | 174 | ||||||||
3 YEARS | rr_ExpenseExampleYear03 | 589 | ||||||||
5 YEARS | rr_ExpenseExampleYear05 | 1,029 | ||||||||
10 YEARS | rr_ExpenseExampleYear10 | 2,252 | ||||||||
1 YEAR | rr_ExpenseExampleNoRedemptionYear01 | 174 | ||||||||
3 YEARS | rr_ExpenseExampleNoRedemptionYear03 | 589 | ||||||||
5 YEARS | rr_ExpenseExampleNoRedemptionYear05 | 1,029 | ||||||||
10 YEARS | rr_ExpenseExampleNoRedemptionYear10 | $ 2,252 | ||||||||
1 Year | rr_AverageAnnualReturnYear01 | 24.19% | ||||||||
5 Years | rr_AverageAnnualReturnYear05 | 0.21% | ||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 15.33% | ||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 30, 2005 | ||||||||
Clough China Fund | Return After Taxes on Distributions | Class A
|
||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
1 Year | rr_AverageAnnualReturnYear01 | 16.99% | ||||||||
5 Years | rr_AverageAnnualReturnYear05 | (1.47%) | ||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 12.64% | ||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 30, 2005 | ||||||||
Clough China Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A
|
||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
1 Year | rr_AverageAnnualReturnYear01 | 11.09% | ||||||||
5 Years | rr_AverageAnnualReturnYear05 | (1.20%) | ||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 11.64% | ||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 30, 2005 | ||||||||
Clough China Fund | Morgan Stanley Capital International China Index (reflects no deduction for fees, expenses or taxes)
|
||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
1 Year | rr_AverageAnnualReturnYear01 | 22.75% | ||||||||
5 Years | rr_AverageAnnualReturnYear05 | (3.51%) | ||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 14.25% | ||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 30, 2005 | ||||||||
|