diff --git a/simple_history/manager.py b/simple_history/manager.py
index 978199c77..58c03bf37 100755
--- a/simple_history/manager.py
+++ b/simple_history/manager.py
@@ -61,26 +61,26 @@ def most_recent(self):
 
     def as_of(self, date):
         """
-        Returns an instance of the original model with all the attributes set
-        according to what was present on the object on the date provided.
+        Returns an instance, or an iterable of the instances, of the
+        original model with all the attributes set according to what
+        was present on the object on the date provided.
         """
-        if not self.instance:
-            raise TypeError("Can't use as_of() without a %s instance." %
-                            self.model._meta.object_name)
-        tmp = []
-        for field in self.instance._meta.fields:
-            if isinstance(field, models.ForeignKey):
-                tmp.append(field.name + "_id")
-            else:
-                tmp.append(field.name)
-        fields = tuple(tmp)
-        qs = self.filter(history_date__lte=date)
-        try:
-            values = qs.values_list('history_type', *fields)[0]
-        except IndexError:
-            raise self.instance.DoesNotExist("%s had not yet been created." %
-                                             self.instance._meta.object_name)
-        if values[0] == '-':
-            raise self.instance.DoesNotExist("%s had already been deleted." %
-                                             self.instance._meta.object_name)
-        return self.instance.__class__(*values[1:])
+        queryset = self.filter(history_date__lte=date)
+        if self.instance:
+            try:
+                history_obj = queryset[0]
+            except IndexError:
+                raise self.instance.DoesNotExist(
+                    "%s had not yet been created." %
+                    self.instance._meta.object_name)
+            if history_obj.history_type == '-':
+                raise self.instance.DoesNotExist(
+                    "%s had already been deleted." %
+                    self.instance._meta.object_name)
+            return history_obj.instance
+        historical_ids = set(
+            queryset.order_by().values_list('id', flat=True))
+        return (change.instance for change in (
+            queryset.filter(id=original_pk).latest('history_date')
+            for original_pk in historical_ids
+        ) if change.history_type != '-')
diff --git a/simple_history/tests/tests/__init__.py b/simple_history/tests/tests/__init__.py
index 77c2be1a2..660a2bcd7 100644
--- a/simple_history/tests/tests/__init__.py
+++ b/simple_history/tests/tests/__init__.py
@@ -1,3 +1,5 @@
 from .test_models import *
 from .test_admin import *
 from .test_commands import *
+from .test_manager import *
+
diff --git a/simple_history/tests/tests/test_manager.py b/simple_history/tests/tests/test_manager.py
new file mode 100644
index 000000000..107105bac
--- /dev/null
+++ b/simple_history/tests/tests/test_manager.py
@@ -0,0 +1,68 @@
+from datetime import datetime, timedelta
+from django.test import TestCase
+try:
+    from django.contrib.auth import get_user_model
+except ImportError:
+    from django.contrib.auth.models import User
+else:
+    User = get_user_model()
+
+from .. import models
+
+
+class AsOfTest(TestCase):
+    model = models.Document
+
+    def setUp(self):
+        user = User.objects.create_user("tester")
+        self.now = datetime.now()
+        self.yesterday = self.now - timedelta(days=1)
+        self.obj = self.model.objects.create()
+        self.obj.changed_by = user
+        self.obj.save()
+        self.model.objects.all().delete()   # allows us to leave PK on instance
+        self.delete_history, self.change_history, self.create_history = (
+            self.model.history.all())
+        self.create_history.history_date = self.now - timedelta(days=2)
+        self.create_history.save()
+        self.change_history.history_date = self.now - timedelta(days=1)
+        self.change_history.save()
+        self.delete_history.history_date = self.now
+        self.delete_history.save()
+
+    def test_created_after(self):
+        """An object created after the 'as of' date should not be
+        included.
+
+        """
+        as_of_list = list(
+            self.model.history.as_of(self.now - timedelta(days=5)))
+        self.assertFalse(as_of_list)
+
+    def test_deleted_before(self):
+        """An object deleted before the 'as of' date should not be
+        included.
+
+        """
+        as_of_list = list(
+            self.model.history.as_of(self.now + timedelta(days=1)))
+        self.assertFalse(as_of_list)
+
+    def test_deleted_after(self):
+        """An object created before, but deleted after the 'as of'
+        date should be included.
+
+        """
+        as_of_list = list(
+            self.model.history.as_of(self.now - timedelta(days=1)))
+        self.assertEqual(len(as_of_list), 1)
+        self.assertEqual(as_of_list[0].pk, self.obj.pk)
+
+    def test_modified(self):
+        """An object modified before the 'as of' date should reflect
+        the last version.
+
+        """
+        as_of_list = list(
+            self.model.history.as_of(self.now - timedelta(days=1)))
+        self.assertEqual(as_of_list[0].changed_by, self.obj.changed_by)
diff --git a/simple_history/tests/tests/test_models.py b/simple_history/tests/tests/test_models.py
index 73c5c6f77..122dc2481 100644
--- a/simple_history/tests/tests/test_models.py
+++ b/simple_history/tests/tests/test_models.py
@@ -425,11 +425,6 @@ def test_as_of(self):
         self.assertEqual(question_as_of(times[1]), "how's it going?")
         self.assertEqual(question_as_of(times[2]), "what's up?")
 
-    def test_as_of_on_model_class(self):
-        Poll.objects.create(question="what's up?", pub_date=today)
-        time = Poll.history.all()[0].history_date
-        self.assertRaises(TypeError, Poll.history.as_of, time)
-
     def test_as_of_nonexistant(self):
         # Unsaved poll
         poll = Poll(question="what's up?", pub_date=today)