0001752724-18-001660.txt : 20181113 0001752724-18-001660.hdr.sgml : 20181113 20181113131836 ACCESSION NUMBER: 0001752724-18-001660 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20180831 FILED AS OF DATE: 20181113 DATE AS OF CHANGE: 20181113 EFFECTIVENESS DATE: 20181113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WST Investment Trust CENTRAL INDEX KEY: 0001580350 IRS NUMBER: 463618872 FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-22858 FILM NUMBER: 181176893 BUSINESS ADDRESS: STREET 1: 150 W. MAIN STREET, SUITE 1700 CITY: NORFOLK STATE: VA ZIP: 23510 BUSINESS PHONE: 757-623-3676 X317 MAIL ADDRESS: STREET 1: 150 W. MAIN STREET, SUITE 1700 CITY: NORFOLK STATE: VA ZIP: 23510 N-CEN 1 primary_doc.xml X0101 N-CEN LIVE 0001580350 XXXXXXXX 811-22858 false false false N-1A true WST Investment Trust 811-22858 0001580350 5493008KBT48NVDX2Z80 150 West Main Street, Suite 1700 Norfolk 23510 US-VA US 757-623-3676 Roger H. Scheffel Jr 150 West Main Street, Suite 1700 Norfolk 23510 757-623-3676 Books and records related to investment advisory services and fund Ultimus Fund Solutions, LLC, 225 Pictoria Drive, Suite 450 Cincinnati 45246 513-587-3400 Books and records related to fund accounting, financial reporting, and transfer agency services Foreside Fund Services, LLC Three Canal Plaza, Suite 100 Portland 04101 866-251-6920 Books and records related to distribution services U.S. Bank, N.A. 425 Walnut Street Cincinnati 45202 513-632-4234 Books and records related to Custody services Y N N N-1A 2 Y Wayne F. Wilbanks 001039562 Y James H. Speed, Jr. 003223336 N Thomas G. Douglass 002152735 N Matthew A. Swendiman N/A 15 W. Center Street Lawrenceburg 47025 XXXXXX N N N N N N N Foreside Fund Services, LLC 8-51293 000046106 N/A N Y Cohen & Company, Ltd. 925 N/A N N N N N N N WSTCM Credit Select Risk - Managed Fund S000046497 549300DWQZE7IG89UV73 Y 2 0 0 Fund of Funds N N Y N Other N/A N/A N/A Rule 12d1-1 (17 CFR 270.12d1-1) Y Y N N Wilbanks, Smith & Thomas Asset Management, LLC, d/b/a WST Captial Management 801-37972 000106060 N/A N Ultimus Fund Solutions, LLC 084-05829 N/A N N N Intercontinental Exchange Inc. 5493000F4ZO33MV32P92 N N US Bank, N.A. 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC 084-05829 SEC file no. N N N Ultimus Fund Solutions, LLC 084-05829 SEC file no. N N N Wallachbeth Capital LLC 008-67936 000147853 549300R371KUKXEXC133 136380.68000000 136380.68000000 US Bank National Association N/A N/A N/A 221995176.5 221995176.49000001 N 104825581.14758915 N N N N WSTCM Sector Select Risk - Managed Fund S000042032 549300QM0BGSP0PSRJ14 Y 2 0 0 Fund of Funds N N Y N Other N/A N/A N/A Rule 12d1-1 (17 CFR 270.12d1-1) Y Y N N Wilbanks, Smith & Thomas Asset Management, LLC, d/b/a WST Capital Management 801-37972 000106060 N/A N Ultimus Fund Solutions, LLC 084-05829 N/A N N N Intercontinental Exchange Inc. 5493000F4ZO33MV32P92 N N US Bank, N.A. 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC 084-05829 SEC file no. N N N Ultimus Fund Solutions, LLC 084-05829 SEC file no. N N N Wallachbeth Capital LLC 008-67936 000147853 549300R371KUKXEXC133 10035.40000000 10035.40000000 0 N 16408184.19643836 N N N N false false true false false false INTERNAL CONTROL RPT 2 fp0036828_g1aiii.htm

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Board of Trustees of

WST Investment Trust

In planning and performing our audit of the financial statements of WST Investment Trust, comprising WSTCM Sector Select Risk-Managed Fund and WSTCM Credit Select Risk-Managed Fund (the “Funds”) as of and for the year ended August 31, 2018, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Funds’ internal control over financial reporting, including controls over 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 fund’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 (GAAP). A fund’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 fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and Trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund’s assets that could have a material effect on the financial statements.

Because of its 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 Funds’ 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 over safeguarding securities, that we consider to be a material weakness as defined above as of August 31, 2018.

This report is intended solely for the information and use of management and the Board of Trustees of the Funds 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/ COHEN & COMPANY, LTD.

COHEN & COMPANY, LTD.

Chicago, Illinois

October 29, 2018