0001145549-22-006325.txt : 20220211
0001145549-22-006325.hdr.sgml : 20220211
20220211113202
ACCESSION NUMBER: 0001145549-22-006325
CONFORMED SUBMISSION TYPE: N-CEN
PUBLIC DOCUMENT COUNT: 3
CONFORMED PERIOD OF REPORT: 20211130
FILED AS OF DATE: 20220211
DATE AS OF CHANGE: 20220211
EFFECTIVENESS DATE: 20220211
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Investment Managers Series Trust
CENTRAL INDEX KEY: 0001318342
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FILING VALUES:
FORM TYPE: N-CEN
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-21719
FILM NUMBER: 22618023
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
S000044038
true
S000032900
true
S000039554
true
S000011379
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
IMST DISTRIBUTORS, LLC
THREE CANAL PLAZA, SUITE 100
PORTLAND
04101
8662516920
DISTRIBUTOR
ZACKS INVESTMENT MANAGEMENT, INC.
227 W. MONROE, SUITE 4350
CHICAGO
60606
8886002783
ADVISER
RIVERBRIDGE PARTNERS, LLC
1200 IDS CENTER
80 SOUTH EIGHTH STREET
MINNEAPOLIS
55402
6129046200
ADVISER
N
N
N-1A
53
Y
CHARLES H. MILLER
N/A
N
ASHLEY TOOMEY RABUN
N/A
N
WILLIAM H. YOUNG
N/A
N
JOHN P. ZADER
N/A
N
ERIC M. BANHAZL
N/A
Y
MAUREEN QUILL
001421521
Y
MARTIN W. DZIURA
N/A
309 WOODRIDGE LANE
MEDIA
19063
XXXXXX
N
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
Zacks Dividend Fund
S000044038
549300C5DLVDVTIG4M13
N
2
0
0
N/A
N
N
Y
N
N
BMO Harris Bank N.A.
3Y4U8VZURTYWI1W2K376
N
N
Revenue sharing split
Cash collateral reinvestment fee
8430091.230000000000
622.670000000000
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
Y
Y
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 AMERICAS LLC
8-68193
000149823
N/A
8447.000000000000
8447.000000000000
0.000000000000
N
134585850.000000000000
N
N
N
N
Zacks Small-Cap Core Fund
S000032900
549300W4JEUN5NKSWH67
N
2
0
0
N/A
N
N
Y
N
N
BMO HARRIS BANK N.A.
3Y4U8VZURTYWI1W2K376
N
N
Revenue sharing split
Cash collateral reinvestment fee
4959949.430000000000
3708.560000000000
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
17894.000000000000
ITG INC.
8-44218
000029299
549300S41SMIODVIT266
11646.000000000000
PIPER JAFFRAY & CO.
8-15204
000000665
N/A
4887.000000000000
JONESTRADING INSTITUTIONAL SERVICES LLC
8-26089
000006888
2138008JJ5PA8H5UIL69
3550.000000000000
37977.000000000000
0.000000000000
N
48675743.000000000000
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
19049.000000000000
J.P. MORGAN SECURITIES LLC
8-35008
000000079
ZBUT11V806EZRVTWT807
16445.000000000000
ROBERT W. BAIRD AND CO. INCORPORATED
8-497
000008158
549300772UJAHRD6LO53
5069.000000000000
NEEDHAM & COMPANY, LLC
8-33772
000016360
254900J2GFQ4J4NK1J89
8319.000000000000
JEFFERIES & CO., INC
8-15074
000002347
58PU97L1C0WSRCWADL48
4500.000000000000
LIQUIDNET, INC.
8-52461
000103987
213800HSKBBO1GCVRG79
1699.000000000000
JONESTRADING INSTITUTIONAL SERVICES LLC
8-26089
000006888
2138008JJ5PA8H5UIL69
848.000000000000
CANACCORD GENUITY CORP.
8-3271
000001020
WTX5X269IUOQ9YMI7R44
7921.000000000000
63850.000000000000
0.000000000000
Y
286540808.000000000000
N
N
N
N
Zacks All-Cap Core Fund
S000011379
549300YU6SQPZHRXBV81
N
1
0
0
N/A
N
N
Y
N
N
BMO HARRIS BANK N.A.
3Y4U8VZURTYWI1W2K376
N
N
Revenue sharing split
Cash collateral reinvestment fee
6347701.650000000000
1347.370000000000
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
2903.000000000000
2903.000000000000
0.000000000000
N
56858725.000000000000
N
N
N
N
true
INTERNAL CONTROL RPT
2
zacksncen2021.txt
ZACKS INTERNAL CONTROL
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, 2021, 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 companys 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 companys 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
companys 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
companys 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, 2021.
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 25, 2022
To the Shareholders and
Board of Trustees of
Investment Managers Series Trust
Page Two
INTERNAL CONTROL RPT
3
riverbridgencen2021.txt
RIVERBRIDGE INTERNAL CONTROL
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, 2021, 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 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 companys 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 companys
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 companys 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 companys
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, 2021.
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 25, 2022
To the Shareholders and
Board of Trustees of
Investment Managers Series Trust
Page Two