EuroPac International Value Fund
Class A Shares (Ticker Symbol: EPIVX)
Class I Shares (Ticker Symbol: EPVIX)
EuroPac International Bond Fund
Class A Shares (Ticker Symbol: EPIBX)
Class I Shares (Ticker Symbol: EPBIX)
EuroPac International Dividend Income Fund
Class A Shares (Ticker Symbol: EPDPX)
Class I Shares (Ticker Symbol: EPDIX)
EuroPac Gold Fund
Class A Shares (Ticker Symbol: EPGFX)
Class I Shares (Ticker Symbol: EPGIX)
EP Emerging Markets Fund
Class A Shares (Ticker Symbol: EPASX)
Class I Shares (Ticker Symbol: EPEIX)
Each a series of Investment Managers Series Trust
(the “Trust”)
Supplement dated May 15, 2023, to the Prospectus
and
Summary Prospectus, each dated March 1, 2023.
Removal of Redemption Fees – All Funds
Effective May 15, 2023 (the “Effective Date”),
the redemption fee for each of the EuroPac International Value Fund, the EuroPac International Bond Fund, the EuroPac International Dividend
Income Fund, the EuroPac Gold Fund and the EP Emerging Markets Fund will be removed. Accordingly, as of the Effective Date, all references
to the redemption fees in the Prospectus are deleted in their entirety.
*******
Please retain this Supplement
with your records.
EuroPac International Value Fund
Class A Shares (Ticker Symbol: EPIVX)
Class I Shares (Ticker Symbol: EPVIX)
EuroPac International Bond Fund
Class A Shares (Ticker Symbol: EPIBX)
Class I Shares (Ticker Symbol: EPBIX)
EuroPac International Dividend Income Fund
Class A Shares (Ticker Symbol: EPDPX)
Class I Shares (Ticker Symbol: EPDIX)
EuroPac Gold Fund
Class A Shares (Ticker Symbol: EPGFX)
Class I Shares (Ticker Symbol: EPGIX)
EP Emerging Markets Fund
Class A Shares (Ticker Symbol: EPASX)
Class I Shares (Ticker Symbol: EPEIX)
Each a series of Investment Managers Series Trust
(the “Trust”)
Supplement dated May 15, 2023, to the Prospectus
and
Summary Prospectus, each dated March 1, 2023.
Removal of Redemption Fees – All Funds
Effective May 15, 2023 (the “Effective Date”),
the redemption fee for each of the EuroPac International Value Fund, the EuroPac International Bond Fund, the EuroPac International Dividend
Income Fund, the EuroPac Gold Fund and the EP Emerging Markets Fund will be removed. Accordingly, as of the Effective Date, all references
to the redemption fees in the Prospectus are deleted in their entirety.
*******
Please retain this Supplement
with your records.
EuroPac International Value Fund
Class A Shares (Ticker Symbol: EPIVX)
Class I Shares (Ticker Symbol: EPVIX)
EuroPac International Bond Fund
Class A Shares (Ticker Symbol: EPIBX)
Class I Shares (Ticker Symbol: EPBIX)
EuroPac International Dividend Income Fund
Class A Shares (Ticker Symbol: EPDPX)
Class I Shares (Ticker Symbol: EPDIX)
EuroPac Gold Fund
Class A Shares (Ticker Symbol: EPGFX)
Class I Shares (Ticker Symbol: EPGIX)
EP Emerging Markets Fund
Class A Shares (Ticker Symbol: EPASX)
Class I Shares (Ticker Symbol: EPEIX)
Each a series of Investment Managers Series Trust
(the “Trust”)
Supplement dated May 15, 2023, to the Prospectus
and
Summary Prospectus, each dated March 1, 2023.
Removal of Redemption Fees – All Funds
Effective May 15, 2023 (the “Effective Date”),
the redemption fee for each of the EuroPac International Value Fund, the EuroPac International Bond Fund, the EuroPac International Dividend
Income Fund, the EuroPac Gold Fund and the EP Emerging Markets Fund will be removed. Accordingly, as of the Effective Date, all references
to the redemption fees in the Prospectus are deleted in their entirety.
*******
Please retain this Supplement
with your records.
EuroPac International Value Fund
Class A Shares (Ticker Symbol: EPIVX)
Class I Shares (Ticker Symbol: EPVIX)
EuroPac International Bond Fund
Class A Shares (Ticker Symbol: EPIBX)
Class I Shares (Ticker Symbol: EPBIX)
EuroPac International Dividend Income Fund
Class A Shares (Ticker Symbol: EPDPX)
Class I Shares (Ticker Symbol: EPDIX)
EuroPac Gold Fund
Class A Shares (Ticker Symbol: EPGFX)
Class I Shares (Ticker Symbol: EPGIX)
EP Emerging Markets Fund
Class A Shares (Ticker Symbol: EPASX)
Class I Shares (Ticker Symbol: EPEIX)
Each a series of Investment Managers Series Trust
(the “Trust”)
Supplement dated May 15, 2023, to the Prospectus
and
Summary Prospectus, each dated March 1, 2023.
Removal of Redemption Fees – All Funds
Effective May 15, 2023 (the “Effective Date”),
the redemption fee for each of the EuroPac International Value Fund, the EuroPac International Bond Fund, the EuroPac International Dividend
Income Fund, the EuroPac Gold Fund and the EP Emerging Markets Fund will be removed. Accordingly, as of the Effective Date, all references
to the redemption fees in the Prospectus are deleted in their entirety.
*******
Please retain this Supplement
with your records.
EuroPac International Value Fund
Class A Shares (Ticker Symbol: EPIVX)
Class I Shares (Ticker Symbol: EPVIX)
EuroPac International Bond Fund
Class A Shares (Ticker Symbol: EPIBX)
Class I Shares (Ticker Symbol: EPBIX)
EuroPac International Dividend Income Fund
Class A Shares (Ticker Symbol: EPDPX)
Class I Shares (Ticker Symbol: EPDIX)
EuroPac Gold Fund
Class A Shares (Ticker Symbol: EPGFX)
Class I Shares (Ticker Symbol: EPGIX)
EP Emerging Markets Fund
Class A Shares (Ticker Symbol: EPASX)
Class I Shares (Ticker Symbol: EPEIX)
Each a series of Investment Managers Series Trust
(the “Trust”)
Supplement dated May 15, 2023, to the Prospectus
and
Summary Prospectus, each dated March 1, 2023.
Removal of Redemption Fees – All Funds
Effective May 15, 2023 (the “Effective Date”),
the redemption fee for each of the EuroPac International Value Fund, the EuroPac International Bond Fund, the EuroPac International Dividend
Income Fund, the EuroPac Gold Fund and the EP Emerging Markets Fund will be removed. Accordingly, as of the Effective Date, all references
to the redemption fees in the Prospectus are deleted in their entirety.
*******
Please retain this Supplement
with your records.