v3.25.4
Fees and Expenses
Feb. 26, 2026
USD ($)
Miller Convertible Bond Fund  
Prospectus [Line Items]  
Expense Heading [Optional Text] Fees and Expenses of the Fund
Expense Narrative [Text Block]

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.

 

You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $100,000 in the Fund. More information about these and other discounts is available from your financial professional and under the heading “How to Purchase Shares” on page 42 of this Prospectus. In addition, descriptions of the sales load waivers and/or discounts for Class A shares with respect to certain financial intermediaries are reproduced in “Appendix A: Intermediary-Specific Sales Charge Waivers and Discounts” to the Prospectus based on information provided by the financial intermediary.

 

Shareholder Fees Caption [Optional Text] Shareholder Fees (fees paid directly from your investment)
Shareholder Fees [Table]
Shareholder Fees
(fees paid directly from your investment)
Class A Class C Class I
Maximum Sales Charge (Load) Imposed on Purchases
(as a % of offering price)
3.75% None None
Maximum Deferred Sales Charge (Load)
(as a % of offering price)
None(1) 1.00%(2) None
Maximum Sales Charge (Load) on
Reinvested Dividends and Other Distributions
None None None
Operating Expenses Caption [Optional Text] Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses [Table]
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage
of the value of your investment)
     
Management Fees 0.75% 0.75% 0.75%
Distribution and/or Service (12b-1) Fees 0.50% 1.00% 0.00%
Other Expenses 0.28% 0.28% 0.28%
Acquired Fund Fees and Expenses 0.01% 0.01% 0.01%
Total Annual Fund Operating Expenses 1.54% 2.04% 1.04%

 

(1)There is a 1.00% contingent deferred sales charge (“CDSC”) for investments of $250,000 or more (see “How to Purchase Shares” below) on Class A shares sold within the first 18 months of purchase, unless you are otherwise eligible to purchase Class A shares without an initial sales charge or are eligible for a waiver of the CDSC (see “Waiver of Contingent Deferred Sales Charges” below).

 

(2)If you redeem Class C shares within 12 months after purchase, you will be charged a CDSC of up to 1.00%. The charge will apply to the lesser of the original cost of the Class C shares being redeemed or the proceeds of your redemption and will be calculated without regard to any redemption fee. When you redeem Class C shares, the redemption order is processed so that the lowest CDSC is charged. Class C shares that are not subject to a CDSC are redeemed first. In addition, you will not be charged a CDSC when you redeem shares that you acquired through reinvestment of the Fund’s dividends or capital gains. Any CDSC paid on the redemptions of Class C shares expressed as a percentage of the applicable redemption amount may be higher or lower than the charge described due to rounding.

 

Expense Example [Heading] Example
Expense Example Narrative [Text Block]

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

 

Expense Example by, Year, Caption [Text] 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 upon these assumptions your costs would be:
Expense Example, With Redemption [Table]
  1 Year 3 Years 5 Years 10 Years
Class A $526 $843 $1,183 $2,141
Class C $307 $640 $1,098 $2,369
Class I $106 $331 $574 $1,271

 

Portfolio Turnover [Heading] Portfolio Turnover
Portfolio Turnover [Text Block]

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover 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 114% of the average value of its portfolio.

 

Portfolio Turnover, Rate 114.00%
Miller Convertible Bond Fund | Class A Shares  
Prospectus [Line Items]  
Expense Breakpoint Discounts [Text] You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $100,000 in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] $ 100,000
Miller Intermediate Bond Fund  
Prospectus [Line Items]  
Expense Heading [Optional Text] Fees and Expenses of the Fund
Expense Narrative [Text Block]

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.

 

Shareholder Fees Caption [Optional Text] Shareholder Fees (fees paid directly from your investment)
Shareholder Fees [Table]
Shareholder Fees
(fees paid directly from your investment)
Class I
Maximum Sales Charge (Load) Imposed on Purchases
(as a % of offering price)
None
Maximum Deferred Sales Charge (Load)
(as a % of offering price)
None
Maximum Sales Charge (Load) on Reinvested Dividends and Other Distributions None
Operating Expenses Caption [Optional Text] Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses [Table]
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
 
Management Fees 0.75%
Distribution and/or Service (12b-1) Fees 0.00%
Other Expenses 0.31%
Total Annual Fund Operating Expenses 1.06%
Less: Advisory Fee Waiver and/or Reimbursement(1) (0.07%)
Total Annual Fund Operating Expenses After Advisory Fee Waiver 0.99%

 

(1)Wellesley Asset Management, Inc. (“Wellesley” or the “Advisor”), the Fund’s advisor, has contractually agreed to waive its advisory fee and/or reimburse expenses of the Fund until February 28, 2027, to the extent necessary to limit the Total Annual Fund Operating Expenses After Advisory Fee Waiver and/or Expense Reimbursement (subject to the following exclusions) to the annualized rate of 0.99% of the average daily net assets attributable to Class I (the “Expense Limitation”). The Expense Limitation will exclude (not limit) interest charges on borrowings, taxes, brokerage commissions, dealer spreads and other transaction costs, capitalized expenditures, acquired fund fees and expenses, short sale dividends, and extraordinary expenses not incurred in the ordinary course of the Fund’s business (e.g., litigation, indemnification). The expense limitation agreement provides that Wellesley may recoup from the Fund if the Total Annual Fund Operating Expenses After Advisory Fee Waiver and/or Expense Reimbursement fall below the Expense Limitation during the 36 month period following such waiver or reimbursement, provided the Fund is able to effect recoupment while remaining in compliance with the Expense Limitation. This agreement may be terminated upon a writing duly executed by the Advisor and the trust.

 

Expense Example [Heading] Example
Expense Example Narrative [Text Block]

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

 

Expense Example by, Year, Caption [Text] 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. The expense limitation agreement discussed above is reflected only through February 28, 2027. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Expense Example, With Redemption [Table]
  1 Year 3 Years 5 Years 10 Years
Class I $101 $330 $578 $1,288

 

Portfolio Turnover [Heading] Portfolio Turnover
Portfolio Turnover [Text Block]

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover 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 134% of the average value of its portfolio.

 

Portfolio Turnover, Rate 134.00%
Miller Market Neutral Income Fund  
Prospectus [Line Items]  
Expense Heading [Optional Text] Fees and Expenses of the Fund
Expense Narrative [Text Block]

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.

 

Shareholder Fees Caption [Optional Text] Shareholder Fees (fees paid directly from your investment)
Shareholder Fees [Table]
Shareholder Fees
(fees paid directly from your investment)
Class I
Maximum Sales Charge (Load) Imposed on Purchases
(as a % of offering price)
None
Maximum Deferred Sales Charge (Load)
(as a % of offering price)
None
Maximum Sales Charge (Load) on Reinvested Dividends and Other Distributions None
Redemption Fee
(as a % of amount redeemed)
None
Operating Expenses Caption [Optional Text] Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses [Table]
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
 
Management Fees 1.25%
Distribution and/or Service (12b-1) Fees 0.00%
Interest Expense 0.36%
Other Expenses 0.44%
Total Annual Fund Operating Expenses 2.05%
 Less: Advisory Fee Waiver and Reimbursement(1) (0.39%)
Total Annual Fund Operating Expenses After Advisory Fee Waiver 1.66%

 

(1)Wellesley Asset Management, Inc. (“Wellesley” or the “Advisor”), the Fund’s advisor, has contractually agreed to waive its advisory fee and/or reimburse expenses of the Fund until February 28, 2027, to the extent necessary to limit the Total Annual Fund Operating Expenses After Advisory Fee Waiver and/or Expense Reimbursement (subject to the following exclusions) to the annualized rate of 1.30% of the average daily net assets attributable to Class I (the “Expense Limitation”). The Expense Limitation will exclude (not limit) interest charges on borrowings, taxes, brokerage commissions, dealer spreads and other transaction costs, capitalized expenditures, acquired fund fees and expenses, short sale dividends, and extraordinary expenses not incurred in the ordinary course of the Fund’s business (e.g., litigation, indemnification). The expense limitation agreement provides that Wellesley may recoup any amount reimbursed if the Total Annual Fund Operating Expenses After Advisory Fee Waiver and/or Expense Reimbursement fall below the Expense Limitation during the 36 month period following such waiver or reimbursement, provided the Fund is able to effect recoupment while remaining in compliance with the Expense Limitation. This agreement may be terminated upon a writing duly executed by the Advisor and the trust.

 

Expense Example [Heading] Example
Expense Example Narrative [Text Block]

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

 

Expense Example by, Year, Caption [Text] 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. The expense limitation agreement discussed above is reflected only through February 28, 2027. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Expense Example, With Redemption [Table]
  1 Year 3 Years 5 Years 10 Years
Class I $169 $605 $1,067 $2,348

 

Portfolio Turnover [Heading] Portfolio Turnover
Portfolio Turnover [Text Block]

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover 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 467% of the average value of its portfolio.

 

Portfolio Turnover, Rate 467.00%