CHAMX

CHASE MID-CAP GROWTH FUND (NASDAQ CHAMX)

Performance	Downloads	Distribution History
Sector Diversification	- Prospectus	Contacts
Top Ten Holdings/Fund Information	- Applications

Fund Category: Mid-Cap Growth

Investment Objective: To achieve capital appreciation while seeking to maintain a prudent risk profile

Purpose of the Fund: To provide a sound investment in an investor's long-term financial plan

MONTHLY PERFORMANCE as of 12/31/11
TOTAL RETURN AVERAGE ANNUALIZED as of 12/31/11 FUND INCEPTION DATE: 9/1/02
	1 Month	1 Year	5 Years	7 Years	Since Inception
CHAMX	-2.28%	9.01%	4.57%	5.62%	7.64%
Lipper Mid-Cap Growth Funds Index	-1.81%	-5.30%	2.89%	4.96%	8.43%
Russell MidCap Growth Index	-1.50%	-1.65%	2.44%	4.92%	9.42%

Expense Ratio (gross) - 2.00% Expense Ratio (net)* - 1.48%

TOTAL RETURN AVERAGE ANNUALIZED as of 12/31/11 FUND INCEPTION DATE: 9/1/02
NAV $34.24	1 Year	5 Years	7 Years	Since Inception
CHAMX	9.01%	4.57%	5.62%	7.64%
Lipper Mid-Cap Growth Funds Index	-5.30%	2.89%	4.96%	8.43%
Russell MidCap Growth Index	-1.65%	2.44%	4.92%	9.42%

Expense Ratio - 2.00% Expense Ratio (net)* - 1.48%

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance of the fund may be lower or higher than the performance quoted. The funds impose a 2.00% redemption fee on shares held for 60 days or less. Performance data does not reflect the redemption fee. If reflected, total returns would be reduced.

* Expense Ratio net of contractual waiver through 1/28/13 and not including acquired fund fees and

expenses.

PORTFOLIO SECTOR DIVERSIFICATION as of 12/31/11

TOP TEN HOLDINGS as of 12/31/11		FUND INFORMATION
Neustar Inc	2.9%	Symbol	CHAMX
Airgas Inc	2.9%	CUSIP	007989627
Dollar Tree Inc	2.8%	NSCC Number	5626-TA
Perrigo Co	2.8%	Weighted Avg Mkt Cap (bil)	$4.1
NewMarket Corp	2.7%	Inception Date (class)	9/1/2002
Questcor Pharmaceuticals Inc	2.6%	Total Fund Assets (mil)	$23.5
Tractor Supply Co	2.6%	Minimum Investment	$2,000
Ross Stores Inc	2.6%	Sales Load and 12b-1 Fee	None
Nu Skin Enterprises Inc	2.5%	Fund Shareholders (Approx.)	1,000
Oil States Intl Inc	2.5%	Registration*	CHAMX is registered in 50 states and all US Territories.

Fund holdings and sector allocations are subject to change and are not recommendations to buy or sell any security. For a complete list of holdings on December 31, 2011, click here.

DISTRIBUTION HISTORY
Ex Date	Per Share Income ($)	Per Share Short-Term Capital Gain ($)	Per Share Long-Term Capital Gain ($)
12/31/03	0.0000	0.0000	0.0000
12/31/04	0.0000	0.0000	0.22811
12/31/05	0.0000	0.0000	0.59681
12/20/06	0.0000	0.0000	2.60369
12/20/07	0.0000	0.02398	1.01033
12/18/08	0.0000	0.0000	0.0000
12/17/09	0.0000	0.0000	0.0000
12/20/10	0.0000	0.0000	0.0000
12/15/11	0.0000	0.0000	0.0000

DOWNLOADS

The forms provided below require Adobe's Acrobat Reader. If you do not have Acrobat installed on your computer already, visit Adobe for the free reader. To receive hardcopies of these forms, please contact US Bancorp Fund Services at 1-888-861-7556.

Statutory Prospectus

Summary Prospectus

XBRL Interactive Data

Statement of Additional Information

Chase Mid-Cap Growth Fund Fact Sheet

Annual Report 09-30-11

Semi-Annual Report 03-31-11

Code of Ethics (The Chase Growth Fund is part of the Advisors Series Trust)

Applications

Standard

IRA

IRA Transfer Form

IRA Disclosure Statement

Coverdell Education Savings Account

CONTACTS

Additional information may be obtained from the Fund's portfolio manager.

Chase Investment Counsel Corporation

300 Preston Avenue

Suite 500

Charlottesville, VA 22902-5091

(434) 293-9104

Derwood S. Chase, Jr., CIC

Peter W. Tuz, CFA

Ti Hack

Jennifer King

1) The Lipper MidCap Growth Funds Index measures the performance of funds in the midcap growth category as tracked by Lipper, Inc.

2) The Russell Midcap Growth Index measures the performance of those Russell Midcap companies with higher price-to-book ratios and higher forecasted growth values.

You cannot invest directly in an index. Mutual fund investing involves risk. Principal loss is possible. The Fund invests in mid-cap companies, which involve additional risks such as limited liquidity & greater volatility. The Fund may invest in foreign securities traded on U.S. exchanges, which involve greater volatility and political, economic and currency risks and differences in accounting methods.

*The Chase Mid-Cap Growth Fund is offered only to United States residents, and information on this web site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of the Chase Mid-Cap Growth Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.