0001145549-24-006165.txt : 20240212
0001145549-24-006165.hdr.sgml : 20240212
20240212155631
ACCESSION NUMBER: 0001145549-24-006165
CONFORMED SUBMISSION TYPE: N-CEN
PUBLIC DOCUMENT COUNT: 3
CONFORMED PERIOD OF REPORT: 20231130
FILED AS OF DATE: 20240212
DATE AS OF CHANGE: 20240212
EFFECTIVENESS DATE: 20240212
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Investment Managers Series Trust
CENTRAL INDEX KEY: 0001318342
ORGANIZATION NAME:
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FILING VALUES:
FORM TYPE: N-CEN
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-21719
FILM NUMBER: 24619713
BUSINESS ADDRESS:
STREET 1: 235 WEST GALENA STREET
CITY: MILWAUKEE
STATE: WI
ZIP: 53212
BUSINESS PHONE: 626-914-4141
MAIL ADDRESS:
STREET 1: 235 WEST GALENA STREET
CITY: MILWAUKEE
STATE: WI
ZIP: 53212
FORMER COMPANY:
FORMER CONFORMED NAME: Claymore Trust
DATE OF NAME CHANGE: 20050603
FORMER COMPANY:
FORMER CONFORMED NAME: Claymore Equity Trust
DATE OF NAME CHANGE: 20050218
0001318342
S000011379
Zacks All-Cap Core Fund
C000031519
Class C
CZOCX
C000031520
Institutional Class
CZOVX
0001318342
S000032900
Zacks Small-Cap Core Fund
C000101542
Investor Class
ZSCCX
C000138525
Institutional Class
ZSCIX
0001318342
S000039554
Riverbridge Growth Fund
C000121983
Institutional Class
RIVBX
C000121984
Investor Class
RIVRX
0001318342
S000044038
Zacks Dividend Fund
C000136682
Investor Class
ZDIVX
C000177134
Institutional Class Shares
ZDIIX
N-CEN
1
primary_doc.xml
X0404
N-CEN
LIVE
0001318342
XXXXXXXX
true
false
false
N-1A
S000039554
C000121983
C000121984
S000032900
true
S000011379
true
S000044038
true
INVESTMENT MANAGERS SERIES TRUST
811-21719
0001318342
549300ESWU4ZNAH5Y054
235 WEST GALENA STREET
MILWAUKEE
532123948
US-WI
US
4142992000
UMB FUND SERVICES, INC.
235 WEST GALENA STREET
MILWAUKEE
53212
4142992000
TRANSFER AGENT, FUND ACCOUNTANT AND CO-ADMINISTRATOR
MUTUAL FUND ADMINISTRATION, LLC
2220 E. ROUTE 66, SUITE 226
GLENDORA
91740
6269144141
CO-ADMINISTRATOR
UMB BANK, N.A.
928 GRAND BOULEVARD, 5TH FLOOR
KANSAS CITY
64106
8168605683
CUSTODIAN
ZACKS INVESTMENT MANAGEMENT, INC.
227 W. MONROE, SUITE 4350
CHICAGO
60606
8886002783
ADVISER
RIVERBRIDGE PARTNERS, LLC
1500 IDS Center
80 South Eighth Street
MINNEAPOLIS
55402
6129046200
ADVISER
IMST DISTRIBUTORS, LLC
THREE CANAL PLAZA, SUITE 100
PORTLAND
04101
8662516920
DISTRIBUTOR
N
N
N-1A
41
Y
CHARLES H. MILLER
N/A
N
ASHLEY TOOMEY RABUN
N/A
N
WILLIAM H. YOUNG
N/A
N
MAUREEN QUILL
001421521
Y
JAMES E. ROSS
N/A
N
MARTIN W. DZIURA
N/A
309 WOODRIDGE LANE
MEDIA
19063
XXXXXX
N
N
N
N
N
N
IMST DISTRIBUTORS, LLC
8-66389
000130745
N/A
N
N
TAIT, WELLER & BAKER LLP
00445
N/A
N
N
N
N
N
N
N
Riverbridge Growth Fund
S000039554
549300H3LBKH84JPG461
N
2
0
0
N/A
N
N
N
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
Y
N
Riverbridge Partners, LLC
801-57432
000108074
N/A
N
UMB FUND SERVICES, INC.
084-05792
N/A
Y
N
N
INTERCONTINENTAL EXCHANGE, INC.
5493000F4ZO33MV32P92
N
N
UMB BANK, NATIONAL ASSOCIATION
VNOO6EITDJ2YUEBMSZ83
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
UMB FUND SERVICES, INC.
084-05792
SEC File Number
Y
N
N
UMB FUND SERVICES, INC.
084-05792
SEC File Number
Y
N
MUTUAL FUND ADMINISTRATION, LLC
N/A
N/A
Y
N
N
WILLIAM BLAIR
8-2698
000001252
549300J0P7XYE8BMZ775
2129.000000000000
J.P. MORGAN SECURITIES LLC
8-35008
000000079
ZBUT11V806EZRVTWT807
13748.000000000000
JEFFERIES & CO., INC
8-15074
000002347
58PU97L1C0WSRCWADL48
4696.000000000000
WELLS FARGO
8-37180
000019616
88KRVSOEKUGQZJ3DKW55
1297.000000000000
ALLIANCE BERNSTEIN
8-30851
000014549
0JK55UGWSWNF3X7KLQ85
8837.000000000000
NEEDHAM & COMPANY, LLC
8-33772
000016360
254900J2GFQ4J4NK1J89
11309.000000000000
42016.000000000000
0.000000000000
N
213581440.000000000000
N
N
N
N
Zacks Small-Cap Core Fund
S000032900
549300W4JEUN5NKSWH67
N
2
0
0
N/A
N
N
Y
N
N
Mitsubishi UFJ Trust and Banking Corporation
JBONEPAGQXF4QP29B387
N
N
Revenue sharing split
127281.150000000000
709.380000000000
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
Y
N
Zacks Investment Management, Inc
801-40592
000110897
N/A
N
UMB FUND SERVICES, INC.
084-05792
N/A
Y
N
N
INTERCONTINENTAL EXCHANGE, INC.
5493000F4ZO33MV32P92
N
N
UMB BANK, NATIONAL ASSOCIATION
VNOO6EITDJ2YUEBMSZ83
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
UMB FUND SERVICES, INC.
084-05792
SEC File Number
Y
N
N
MUTUAL FUND ADMINISTRATION, LLC
N/A
N/A
Y
N
UMB FUND SERVICES, INC.
084-05792
SEC File Number
Y
N
N
LBMZ SECURITIES, INC.
8-23266
000007874
5493007YID7U5577RI19
0.000000000000
VIRTU FINANCIAL
8-68015
000148390
54930088MP91YZQJT494
20801.000000000000
JONESTRADING INSTITUTIONAL SERVICES LLC
8-26089
000006888
2138008JJ5PA8H5UIL69
3873.000000000000
PIPER JAFFRAY & CO.
8-15204
000000665
N/A
2529.000000000000
27203.000000000000
0.000000000000
N
35364175.000000000000
N
N
N
N
Zacks All-Cap Core Fund
S000011379
549300YU6SQPZHRXBV81
N
1
0
0
N/A
N
N
Y
N
N
Mitsubishi UFJ Trust and Banking Corporation
JBONEPAGQXF4QP29B387
N
N
Revenue sharing split
219633.950000000000
97.300000000000
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
Y
N
Zacks Investment Management, Inc
801-40592
000110897
N/A
N
UMB FUND SERVICES, INC.
084-05792
N/A
Y
N
N
INTERCONTINENTAL EXCHANGE, INC.
5493000F4ZO33MV32P92
N
N
UMB BANK, NATIONAL ASSOCIATION
VNOO6EITDJ2YUEBMSZ83
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
UMB FUND SERVICES, INC.
084-05792
SEC File Number
Y
N
N
UMB FUND SERVICES, INC.
084-05792
SEC File Number
Y
N
MUTUAL FUND ADMINISTRATION, LLC
N/A
N/A
Y
N
N
LBMZ SECURITIES, INC.
8-23266
000007874
5493007YID7U5577RI19
0.000000000000
VIRTU FINANCIAL
8-68015
000148390
54930088MP91YZQJT494
3791.000000000000
3791.000000000000
0.000000000000
N
46548683.000000000000
N
N
N
N
Zacks Dividend Fund
S000044038
549300C5DLVDVTIG4M13
N
2
0
0
N/A
N
N
Y
N
N
MITSUBISHI UFJ TRUST AND BANKING CORPORATION
JBONEPAGQXF4QP29B387
N
N
Revenue sharing split
20578.630000000000
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
Y
N
Zacks Investment Management, Inc
801-40592
000110897
N/A
N
UMB FUND SERVICES, INC.
084-05792
N/A
Y
N
N
INTERCONTINENTAL EXCHANGE, INC.
5493000F4ZO33MV32P92
N
N
UMB BANK, NATIONAL ASSOCIATION
VNOO6EITDJ2YUEBMSZ83
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
UMB FUND SERVICES, INC.
084-05792
SEC File Number
Y
N
N
UMB FUND SERVICES, INC.
084-05792
SEC File Number
Y
N
MUTUAL FUND ADMINISTRATION, LLC
N/A
N/A
Y
N
N
LBMZ SECURITIES, INC.
8-23266
000007874
5493007YID7U5577RI19
0.000000000000
VIRTU AMERICAS LLC
8-68193
000149823
N/A
16726.000000000000
16726.000000000000
VIRTU AMERICAS LLC
8-68193
000149823
N/A
15.000000000000
15.000000000000
N
182383286.000000000000
N
N
N
N
true
INTERNAL CONTROL RPT
2
riverbridgencen2023.txt
RIVERBRIDGE IC LETTER
REPORT OF INDEPENDENT
REGISTERED PUBLIC
ACCOUNTING FIRM
To the Shareholders and
Board of Trustees of
Investment Managers Series Trust
Glendora, California 91740
In planning and performing our audit of
the financial statements of Riverbridge
Growth Fund (the "Fund"), a series of
Investment Managers Series Trust, as of
and for the year ended November 30,
2023, in accordance with the standards of
the Public Company Accounting
Oversight Board (United States), we
considered their internal control over
financial reporting, including control
activities for safeguarding securities, as a
basis for designing our auditing
procedures for the purpose of expressing
our opinion on the financial statements
and to comply with the requirements of
Form N-CEN, but not for the purpose of
expressing an opinion on the
effectiveness of the Fund's internal
control over financial reporting.
Accordingly, we express no such
opinion.
The management of the Fund is
responsible for establishing and
maintaining effective internal control
over financial reporting. In fulfilling this
responsibility, estimates and judgments
by management are required to assess the
expected benefits and related costs of
controls. A company's internal control
over financial reporting is a process
designed to provide reasonable assurance
regarding the reliability of financial
reporting and the preparation of financial
statements for external purposes in
accordance with generally accepted
accounting principles. A company's
internal control over financial reporting
includes those policies and procedures
that (1) pertain to the maintenance of
records that, in reasonable detail,
accurately and fairly reflect the
transactions and dispositions of the assets
of the company; (2) provide reasonable
assurance that transactions are recorded
as necessary to permit preparation of
financial statements in accordance with
generally accepted accounting principles,
and that receipts and expenditures of the
company are being made only in
accordance with authorizations of
management and directors of the
company; and (3) provide reasonable
assurance regarding prevention or timely
detection of unauthorized acquisition, use
or disposition of a company's assets that
could have a material effect on the
financial statements.
Because of inherent limitations, internal
control over financial reporting may not
prevent or detect misstatements. Also,
projections of any evaluation of
effectiveness to future periods are subject
to the risk that controls may become
inadequate because of changes in
conditions, or that the degree of
compliance with the policies or
procedures may deteriorate.
A deficiency in internal control over
financial reporting exists when the design
or operation of a control does not allow
management or employees, in the normal
course of performing their assigned
functions, to prevent or detect
misstatements on a timely basis. A
material weakness is a deficiency, or
combination of deficiencies, in internal
control over financial reporting, such that
there is a reasonable possibility that a
material misstatement of the company's
annual or interim financial statements
will not be prevented or detected on a
timely basis.
Our consideration of the Fund's internal
control over financial reporting was for
the limited purpose described in the first
paragraph and would not necessarily
disclose all deficiencies in internal
control that might be material
weaknesses under standards established
by the Public Company Accounting
Oversight Board (United States).
However, we noted no deficiencies in the
Fund's internal control over financial
reporting and its operation, including
controls for safeguarding securities,
which we consider to be material
weaknesses, as defined above, as of
November 30, 2023.
This report is intended solely for the
information and use of management,
Shareholders and Board of Trustees of
Investment Managers Series Trust and
the Securities and Exchange
Commission, and is not intended to be
and should not be used by anyone other
than these specified parties.
/s/TAIT, WELLER & BAKER LLP
Philadelphia, Pennsylvania
January 26, 2024
To the Shareholders and
Board of Trustees of
Investment Managers Series Trust
Page Two
INTERNAL CONTROL RPT
3
zacksncen2023.txt
ZACKS IC LETTER
REPORT OF INDEPENDENT
REGISTERED PUBLIC
ACCOUNTING FIRM
To the Shareholders and
Board of Trustees of
Investment Managers Series Trust
Glendora, California 91740
In planning and performing our audit of
the financial statements of Zacks All-Cap
Core Fund, Zacks Small-Cap Core Fund,
and Zacks Dividend Fund (the "Funds"),
each a series of Investment Managers
Series Trust, for the year ended November
30, 2023, in accordance with the standards
of the Public Company Accounting
Oversight Board (United States), we
considered their internal control over
financial reporting, including control
activities for safeguarding securities, as a
basis for designing our auditing
procedures for the purpose of expressing
our opinion on the financial statements
and to comply with the requirements of
Form N-CEN, but not for the purpose of
expressing an opinion on the effectiveness
of the Funds' internal control over
financial reporting. Accordingly, we
express no such opinion.
The management of the Funds is
responsible for establishing and
maintaining effective internal control over
financial reporting. In fulfilling this
responsibility, estimates and judgments by
management are required to assess the
expected benefits and related costs of
controls. A company's internal control
over financial reporting is a process
designed to provide reasonable assurance
regarding the reliability of financial
reporting and the preparation of financial
statements for external purposes in
accordance with generally accepted
accounting principles. A company's
internal control over financial reporting
includes those policies and procedures that
(1) pertain to the maintenance of records
that, in reasonable detail, accurately and
fairly reflect the transactions and
dispositions of the assets of the company;
(2) provide reasonable assurance that
transactions are recorded as necessary to
permit preparation of financial statements
in accordance with generally accepted
accounting principles, and that receipts
and expenditures of the company are
being made only in accordance with
authorizations of management and
directors of the company; and (3) provide
reasonable assurance regarding prevention
or timely detection of unauthorized
acquisition, use or disposition of a
company's assets that could have a
material effect on the financial statements.
Because of inherent limitations, internal
control over financial reporting may not
prevent or detect misstatements. Also,
projections of any evaluation of
effectiveness to future periods are subject
to the risk that controls may become
inadequate because of changes in
conditions, or that the degree of
compliance with the policies or
procedures may deteriorate.
A deficiency in internal control over
financial reporting exists when the design
or operation of a control does not allow
management or employees, in the normal
course of performing their assigned
functions, to prevent or detect
misstatements on a timely basis. A
material weakness is a deficiency, or
combination of deficiencies, in internal
control over financial reporting, such that
there is a reasonable possibility that a
material misstatement of the company's
annual or interim financial statements will
not be prevented or detected on a timely
basis.
Our consideration of the Funds' internal
control over financial reporting was for
the limited purpose described in the first
paragraph and would not necessarily
disclose all deficiencies in internal
control that might be material
weaknesses under standards established
by the Public Company Accounting
Oversight Board (United States).
However, we noted no deficiencies in the
Funds' internal control over financial
reporting and its operation, including
controls for safeguarding securities,
which we consider to be material
weaknesses, as defined above, as of
November 30, 2023.
This report is intended solely for the
information and use of management,
Shareholders and Board of Trustees of
Investment Managers Series Trust and
the Securities and Exchange
Commission, and is not intended to be
and should not be used by anyone other
than these specified parties.
/s/TAIT, WELLER & BAKER LLP
Philadelphia, Pennsylvania
January 26, 2024
To the Shareholders and
Board of Trustees of
Investment Managers Series Trust
Page Two