-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HToo2DgbfsEOmUT2RXKg2u0XctlcZkte4AvDMM0ML/Ma5BHVWq+ijIbknyRKxZAs
 ++GyZZU0W9XEhYZ8zPQjxw==

<SEC-DOCUMENT>0001144204-10-065154.txt : 20101207
<SEC-HEADER>0001144204-10-065154.hdr.sgml : 20101207
<ACCEPTANCE-DATETIME>20101207134938
ACCESSION NUMBER:		0001144204-10-065154
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20101207
DATE AS OF CHANGE:		20101207
EFFECTIVENESS DATE:		20101207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACP FUNDS TRUST
		CENTRAL INDEX KEY:			0001205686
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-57315
		FILM NUMBER:		101236562

	BUSINESS ADDRESS:	
		STREET 1:		150 N. RAADNOR CHESTER RD
		STREET 2:		SUITE C-220
		CITY:			RADNOR
		STATE:			PA
		ZIP:			193087
		BUSINESS PHONE:		610-688-4180

	MAIL ADDRESS:	
		STREET 1:		150 N. RAADNOR CHESTER RD
		STREET 2:		SUITE C-220
		CITY:			RADNOR
		STATE:			PA
		ZIP:			193087
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001205686</cik>
        <entityName>ACP FUNDS TRUST</entityName>
        <issuerAddress>
            <street1>c/o Ascendant Capital Partners LP</street1>
            <street2>150 N. Radnor Chester Rd., Suite C-220</street2>
            <city>Radnor</city>
            <stateOrCountry>PA</stateOrCountry>
            <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
            <zipCode>19087</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>610-688-4180</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Business Trust</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gary</firstName>
                <middleName>E.</middleName>
                <lastName>Shugrue</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Ascendant Capital Partners LP</street1>
                <street2>150 N. Radnor Chester Rd., Suite C-200</street2>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Stephanie</firstName>
                <middleName>S.</middleName>
                <lastName>Davis</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Ascendant Capital Partners LP</street1>
                <street2>150 N. Radnor Chester Rd., Suite C-220</street2>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Ms. Davis is the director and CCO</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <lastName>Connors</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Ascendant Capital Partners LP</street1>
                <street2>150 N. Radnor Chester Rd., Suite C-220</street2>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Independent Board Member</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <lastName>Andres</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Ascendant Capital Partners LP</street1>
                <street2>150 N. Radnor Chester Rd., Suite C-220</street2>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Independent Board Member</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <lastName>Brinton</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Ascendant Capital Partners LP</street1>
                <street2>150 N. Radnor Chester Rd., Suite C-220</street2>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Independent Board Member</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment Fund</investmentFundType>
                <is40Act>true</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>$25,000,001 - $50,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-03-030857</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2003-07-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>25000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>45604820</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>266</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>true</authorizedRepresentative>
            <signature>
                <issuerName>ACP Funds Trust</issuerName>
                <signatureName>/s/ Stephanie S. Davis</signatureName>
                <nameOfSigner>Stephanie S. Davis</nameOfSigner>
                <signatureTitle>Director</signatureTitle>
                <signatureDate>2010-12-01</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----