<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0101</schemaVersion>

    <submissionType>EFFECT</submissionType>

    <act>33</act>

    <testOrLive>LIVE</testOrLive>

    <effectiveData>
        <finalEffectivenessDispDate>2024-09-06</finalEffectivenessDispDate>
        <finalEffectivenessDispTime>13:00:00</finalEffectivenessDispTime>
        <form>N-14</form>
        <filer>
            <cik>0001829774</cik>
            <entityName>James Alpha Funds Trust</entityName>
            <fileNumber>333-280637</fileNumber>
            <seriesClassContractData>
                <merger>
                    <acquiringCik>0001829774</acquiringCik>
                    <acquiringEntityName>James Alpha Funds Trust</acquiringEntityName>
                    <acquiringSeriesId>S000084511</acquiringSeriesId>
                    <acquiringSeriesName>Easterly RocMuni High Income Municipal Bond Fund</acquiringSeriesName>
                    <acquiringClassContractId>C000248908</acquiringClassContractId>
                    <acquiringClassContractName>Easterly RocMuni High Income Municipal Bond Fund - Investor Class</acquiringClassContractName>
                    <targetCik>0001511699</targetCik>
                    <targetEntityName>Managed Portfolio Series</targetEntityName>
                    <targetSeriesId>S000058558</targetSeriesId>
                    <targetSeriesName>Principal Street High Income Municipal Fund</targetSeriesName>
                    <targetClassContractId>C000192454</targetClassContractId>
                    <targetClassContractName>Investor Class</targetClassContractName>
                </merger>
                <merger>
                    <acquiringCik>0001829774</acquiringCik>
                    <acquiringEntityName>James Alpha Funds Trust</acquiringEntityName>
                    <acquiringSeriesId>S000084511</acquiringSeriesId>
                    <acquiringSeriesName>Easterly RocMuni High Income Municipal Bond Fund</acquiringSeriesName>
                    <acquiringClassContractId>C000248909</acquiringClassContractId>
                    <acquiringClassContractName>Easterly RocMuni High Income Municipal Bond Fund - Class I</acquiringClassContractName>
                    <targetCik>0001511699</targetCik>
                    <targetEntityName>Managed Portfolio Series</targetEntityName>
                    <targetSeriesId>S000058558</targetSeriesId>
                    <targetSeriesName>Principal Street High Income Municipal Fund</targetSeriesName>
                    <targetClassContractId>C000192453</targetClassContractId>
                    <targetClassContractName>Institutional Class</targetClassContractName>
                </merger>
                <merger>
                    <acquiringCik>0001829774</acquiringCik>
                    <acquiringEntityName>James Alpha Funds Trust</acquiringEntityName>
                    <acquiringSeriesId>S000084511</acquiringSeriesId>
                    <acquiringSeriesName>Easterly RocMuni High Income Municipal Bond Fund</acquiringSeriesName>
                    <acquiringClassContractId>C000248910</acquiringClassContractId>
                    <acquiringClassContractName>Easterly RocMuni High Income Municipal Bond Fund - Class A</acquiringClassContractName>
                    <targetCik>0001511699</targetCik>
                    <targetEntityName>Managed Portfolio Series</targetEntityName>
                    <targetSeriesId>S000058558</targetSeriesId>
                    <targetSeriesName>Principal Street High Income Municipal Fund</targetSeriesName>
                    <targetClassContractId>C000235452</targetClassContractId>
                    <targetClassContractName>A Class</targetClassContractName>
                </merger>
                <merger>
                    <acquiringCik>0001829774</acquiringCik>
                    <acquiringEntityName>James Alpha Funds Trust</acquiringEntityName>
                    <acquiringSeriesId>S000084512</acquiringSeriesId>
                    <acquiringSeriesName>Easterly RocMuni Short Term Municipal Bond Fund</acquiringSeriesName>
                    <acquiringClassContractId>C000248911</acquiringClassContractId>
                    <acquiringClassContractName>Easterly RocMuni Short Term Municipal Bond Fund - Class I</acquiringClassContractName>
                    <targetCik>0001511699</targetCik>
                    <targetEntityName>Managed Portfolio Series</targetEntityName>
                    <targetSeriesId>S000076128</targetSeriesId>
                    <targetSeriesName>Principal Street Short Term Municipal Fund</targetSeriesName>
                    <targetClassContractId>C000235589</targetClassContractId>
                    <targetClassContractName>Institutional Class</targetClassContractName>
                </merger>
                <merger>
                    <acquiringCik>0001829774</acquiringCik>
                    <acquiringEntityName>James Alpha Funds Trust</acquiringEntityName>
                    <acquiringSeriesId>S000084512</acquiringSeriesId>
                    <acquiringSeriesName>Easterly RocMuni Short Term Municipal Bond Fund</acquiringSeriesName>
                    <acquiringClassContractId>C000248912</acquiringClassContractId>
                    <acquiringClassContractName>Easterly RocMuni Short Term Municipal Bond Fund - Investor Class</acquiringClassContractName>
                    <targetCik>0001511699</targetCik>
                    <targetEntityName>Managed Portfolio Series</targetEntityName>
                    <targetSeriesId>S000076128</targetSeriesId>
                    <targetSeriesName>Principal Street Short Term Municipal Fund</targetSeriesName>
                    <targetClassContractId>C000235587</targetClassContractId>
                    <targetClassContractName>Investor Class</targetClassContractName>
                </merger>
            </seriesClassContractData>
        </filer>
    </effectiveData>
</edgarSubmission>
