Milwaukee, Wis.-based UMB Fund Services, Inc. today revealed a new milestone for its Investment Managers Series Trust, which has surpassed the $2 billion mark in net assets.

The trust, which was started in late 2007, has experienced a rapid acceleration in growth recently, due to a combination of new assets and funds added to the trust, according to the firm. While it took more than three years to reach the $1 billion mark in mid-2011, it only took approximately seven months to reach $2 billion.

The trust is offered through a partnership between UMBFS and Mutual Fund Administration Corporation, a California-based firm that specializes in multiple-series trust administration.

“We’re very excited by the growing enthusiasm for our IMST offering,” stated John Zader, CEO of UMBFS and president of the IMST. “As the economy begins to pick up steam, we’re seeing increased interest among investment managers in starting mutual funds. The IMST’s growth has included not only managers starting their very first mutual funds, but a number of managers in the trust choosing to build on existing funds by starting new ones.”

The trust now includes 38 funds managed by 23 investment advisors.

UMB Fund Services offers administration and fund accounting, investor services and transfer agency, marketing and distribution; custody services through UMB Bank. It currently serves approximately 200 clients with combined assets of over $200 billion.

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