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Label Element Value
Risk Return Abstract rr_RiskReturnAbstract  
Document Type dei_DocumentType 497
Document Period End Date dei_DocumentPeriodEndDate Nov. 30, 2017
Registrant Name dei_EntityRegistrantName Investment Managers Series Trust
Central Index Key dei_EntityCentralIndexKey 0001318342
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Apr. 10, 2018
Document Effective Date dei_DocumentEffectiveDate Apr. 10, 2018
Prospectus Date rr_ProspectusDate Apr. 01, 2018
Zacks All-Cap Core Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading

SUMMARY SECTION

 

ZACKS ALL-CAP CORE FUND
Objective [Heading] rr_ObjectiveHeading

Investment Objectives
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The investment objective of the Zacks All-Cap Core Fund primarily is capital appreciation
Objective, Secondary [Text Block] rr_ObjectiveSecondaryTextBlock

and secondarily is to provide shareholders with income through dividends.
Expense [Heading] rr_ExpenseHeading

Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption

SHAREHOLDER FEES
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption

ANNUAL FUND OPERATING EXPENSES
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination March 31, 2021
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading

Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. The Fund's portfolio turnover rate for the fiscal year ended November 30, 2017 was 29% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 29.00%
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The expense information in the table has been restated to reflect the current expense cap, effective April 16, 2018.
Expense Example [Heading] rr_ExpenseExampleHeading

Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading

Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund pursues its investment objectives by applying a hybrid research process, which uses both quantitative and qualitative criteria. Zacks Investment Management, Inc. (the "Advisor") uses the Zacks Rank, a proprietary model, to quantitatively assess the attractiveness of a large universe of stocks based primarily on an analysis of changing patterns of earnings estimates for a company. The primary aim of the Zacks Rank model is to identify those companies most likely to experience positive earnings estimate revisions. From a smaller universe of stocks that are highly ranked by the quantitative model (approximately 300 securities), the portfolio managers select stocks with strong earnings potential using traditional "bottom-up" valuation metrics. Portfolio construction is driven by modern portfolio theory incorporating strict risk controls. Under normal circumstances, the Advisor expects to invest primarily in equity securities with an emphasis on equity securities of U.S. issuers. The Fund seeks to diversify its assets by investing in securities from a pool of more than one dozen industry sectors and over 200 industry groups. The Advisor allocates assets opportunistically based on market information and is not constrained by market capitalization or style parameters. Sector, capitalization and style allocations generally result from market trends regarding earnings information.

 

The Fund is designed to be a "core" fund that seeks to combine both value and growth characteristics. Under normal circumstances, the Fund invests primarily in equity securities of U.S. issuers. The Fund also may invest in equity securities of Canadian issuers and American Depository Receipts ("ADRs"). ADRs are receipts that represent interests in foreign securities held on deposit by U.S. banks.
Risk [Heading] rr_RiskHeading

Principal Risks of Investing
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Risk is inherent in all investing. A summary description of certain principal risks of investing in the Fund is set forth below. Before you decide whether to invest in the Fund, carefully consider these risk factors associated with investing in the Fund, which may cause investors to lose money. There can be no assurance that the Fund will achieve its investment objectives.

 

Equity Risk. The value of the equity securities held by the Fund may fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, or factors relating to specific companies in which the Fund invests.

 

Foreign Investment Risk. The prices of foreign securities may be more volatile than the prices of securities of U.S. issuers because of economic and social conditions abroad, political developments, and changes in the regulatory environments of foreign countries. In addition, changes in exchange rates and interest rates may adversely affect the values of the Fund's foreign investments. Foreign companies are generally subject to different legal and accounting standards than U.S. companies, and foreign financial intermediaries may be subject to less supervision and regulation than U.S. financial firms. Foreign securities include ADRs. Unsponsored ADRs are organized independently and without the cooperation of the foreign issuer of the underlying securities, and involve additional risks because U.S. reporting requirements do not apply. In addition, the issuing bank may deduct shareholder distribution, custody, foreign currency exchange, and other fees from the payment of dividends.

 

Growth-Oriented Investment Strategies Risk. Growth funds generally focus on stocks of companies believed to have above-average potential for growth in revenue and earnings. Growth securities typically are very sensitive to market movements because their market prices frequently reflect projections of future earnings or revenues, and when it appears that those expectations will not be met the prices of growth securities typically fall.

 

Income and Distribution Risk. The income that shareholders receive from the Fund through annual distributions is based primarily on the dividends and interest the Fund earns from its investments. Dividend payments the Fund receives in respect of its portfolio securities can vary widely over the short and long term.

 

Large-Cap Company Risk. Larger, more established companies may be unable to attain the high growth rates of successful, smaller companies during periods of economic expansion.

 

Management and Strategy Risk. The value of your investment is dependent upon the judgment of the Advisor about the quality, relative yield, value or market trends affecting a particular security, industry, sector or region, which may prove to be incorrect.

 

Market Risk. The market price of a security or instrument may decline, sometimes rapidly or unpredictably, due to general market conditions that are not specifically related to a particular company, such as real or perceived adverse economic or political conditions throughout the world, changes in the general outlook for corporate earnings, changes in interest or currency rates or adverse investor sentiment generally. The market value of a security or instrument also may decline because of factors that affect a particular industry or industries, such as labor shortages or increased production costs and competitive conditions within an industry.

 

Quantitative Model Risk. There are limitations inherent in every quantitative model. The factors used in quantitative analysis and the weight placed on those factors may not be predictive of a security's value. In addition, factors that affect a security's value can change over time and these changes may not be reflected in the quantitative model. Investments selected using the Zacks Rank and other quantitative models may perform differently from the market as a whole or from their expected performance. There can be no assurance that use of a quantitative model will enable the Fund to achieve positive returns or outperform the market.

 

Sector Focus Risk. The Fund may invest a larger portion of its assets in one or more sectors than many other mutual funds and thus will be more susceptible to negative events affecting those sectors.

 

Small-Cap and Mid-Cap Company Risk. The securities of small-capitalization and mid-capitalization companies may be subject to more abrupt or erratic market movements and may have lower trading volumes or more erratic trading than securities of larger, more established companies or market averages in general. In addition, such companies typically are more likely to be adversely affected than large capitalization companies by changes in earning results, business prospects, investor expectations or poor economic or market conditions.

 

Value-Oriented Investment Strategies Risk. Value stocks are those that are believed to be undervalued in comparison to their peers due to adverse business developments or other factors. Value investing is subject to the risk that the market will not recognize a security's inherent value for a long time or at all, or that a stock judged to be undervalued may actually be appropriately priced or overvalued. In addition, during some periods (which may be extensive) value stocks generally may be out of favor in the markets.
Risk Lose Money [Text] rr_RiskLoseMoney Before you decide whether to invest in the Fund, carefully consider these risk factors associated with investing in the Fund, which may cause investors to lose money.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for Investor Class Shares and by showing how the average annual total returns of each class of the Fund compare with the average annual total returns of a broad-based market index. Performance for classes other than those shown may vary from the performance shown to the extent the expenses for those classes differ. Updated performance information is available at the Fund's website, www.zacksfunds.com, or by calling the Fund at 888-453-4003. The Fund's past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.

 

Prior to October 31, 2016, the Investor Class Shares of the Fund were designated as Class A Shares. Sales loads applicable to the Class A Shares are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.

 

Prior to April 16, 2018, the Institutional Class Shares of the Fund were designated as Investor Class Shares and subject to a distribution fee pursuant to a Rule 12b-1 Plan. The distribution fee is reflected in the Fund’s performance for periods prior to April 16, 2018. Prior to October 31, 2016, the Investor Class Shares of the Fund were designated as Class A Shares. Sales loads applicable to the Class A Shares are not reflected in the bar chart, and if those charges were included, returns would be less than those shown. 
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for Investor Class Shares and by showing how the average annual total returns of each class of the Fund compare with the average annual total returns of a broad-based market index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 888-453-4003
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.zacksfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading

Calendar-Year Total Return (before taxes) For Investor Class Shares

For each calendar year at NAV
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads Sales loads applicable to the Class A Shares are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Investor Class Shares
Highest Calendar Quarter Return at NAV
(non-annualized):		 12.90% Quarter Ended 09/30/2009
Lowest Calendar Quarter Return at NAV
(non-annualized):		 (19.20%) Quarter Ended 12/31/2008
Performance Table Heading rr_PerformanceTableHeading

Average Annual Total Returns
for the Periods Ended December 31, 2017
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After–tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After–tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Prior to April 16, 2018, the Institutional Class Shares of the Fund were designated as Investor Class Shares and subject to a distribution fee pursuant to a Rule 12b-1 Plan. The distribution fee is reflected in the Fund’s performance for periods prior to April 16, 2018. Prior to October 31, 2016, Investor Class Shares were designated as Class A Shares, which were subject to a 5.75% sales charge that is not reflected in the total return figures.
Zacks All-Cap Core Fund | Institutional Class Shares  
Risk Return Abstract rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol CZOVX
Maximum sales charge (load) imposed on purchases rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of the lesser of the value redeemed or the amount invested) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Redemption fee if redeemed within 30 days of purchase (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption (2.00%)
Wire fee imstzacks_WireFee $ 20
Overnight check delivery fee imstzacks_OvernightCheckDeliveryFee 25
Retirement account fees (annual maintenance fee) rr_ShareholderFeeOther $ 15
Management fees rr_ManagementFeesOverAssets 0.80% [1]
Other expenses rr_OtherExpensesOverAssets 0.61% [1]
Total annual fund operating expenses rr_ExpensesOverAssets 1.41% [1]
Fees waived and/or expenses reimbursed rr_FeeWaiverOrReimbursementOverAssets (0.41%) [1],[2]
Total annual fund operating expenses after waiving fees and/or reimbursing expenses rr_NetExpensesOverAssets 1.00% [1],[2]
One Year rr_ExpenseExampleYear01 $ 102
Three Years rr_ExpenseExampleYear03 318
Five Years rr_ExpenseExampleYear05 647
Ten Years rr_ExpenseExampleYear10 $ 1,578
Annual Return 2008 rr_AnnualReturn2008 (34.27%)
Annual Return 2009 rr_AnnualReturn2009 15.54%
Annual Return 2010 rr_AnnualReturn2010 15.04%
Annual Return 2011 rr_AnnualReturn2011 2.10%
Annual Return 2012 rr_AnnualReturn2012 12.81%
Annual Return 2013 rr_AnnualReturn2013 27.81%
Annual Return 2014 rr_AnnualReturn2014 12.25%
Annual Return 2015 rr_AnnualReturn2015 (0.54%)
Annual Return 2016 rr_AnnualReturn2016 7.37%
Annual Return 2017 rr_AnnualReturn2017 22.03%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Highest Calendar Quarter Return at NAV (non-annualized):
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 12.90%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Lowest Calendar Quarter Return at NAV (non-annualized):
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.20%)
1 Year rr_AverageAnnualReturnYear01 22.03%
5 Years rr_AverageAnnualReturnYear05 13.33%
10 Years rr_AverageAnnualReturnYear10 6.52%
Zacks All-Cap Core Fund | After Taxes on Distributions | Institutional Class Shares  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 19.84%
5 Years rr_AverageAnnualReturnYear05 11.92%
10 Years rr_AverageAnnualReturnYear10 5.85%
Zacks All-Cap Core Fund | After Taxes on Distributions and Sales | Institutional Class Shares  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 14.27%
5 Years rr_AverageAnnualReturnYear05 10.53%
10 Years rr_AverageAnnualReturnYear10 5.19%
Zacks All-Cap Core Fund | Russell 3000 Index (Reflects no deductions for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 21.13%
5 Years rr_AverageAnnualReturnYear05 15.58%
10 Years rr_AverageAnnualReturnYear10 8.60%
[1] The expense information in the table has been restated to reflect the current expense cap, effective April 16, 2018.
[2] The Fund's advisor has contractually agreed to waive its fees and/or pay for operating expenses of the Fund to ensure that total annual fund operating expenses (excluding any taxes, leverage interest, brokerage commissions, acquired fund fees and expenses (as determined in accordance with Form N-1A), expenses incurred in connection with any merger or reorganization, and extraordinary expenses such as litigation expenses) do not exceed 1.00% of the average daily net assets for the Institutional Class Shares of the Fund. This agreement is in effect until March 31, 2021 and it may be terminated before that date only by the Trust's Board of Trustees. The Fund's advisor is permitted to seek reimbursement from the Fund, subject to certain limitations, of fees waived or payments made to the Fund for a period ending three full fiscal years after the date of the waiver or payment. This reimbursement may be requested from the Fund if the reimbursement will not cause the Fund's annual expense ratio to exceed the lesser of (a) the expense limitation in effect at the time such fees were waived or payments made, or (b) the expense limitation in effect at the time of the reimbursement.