The folks at UMB Fund Services have witnessed a new milestone with their Investment Managers Series Trust. Net assets in the trust have exceeded the $2-billion mark.

"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," according to a UMB Fund Services press release on Thursday.

The trust consists of 38 mutual funds from 23 investment advisers.

UMB Fund Services launched the series trust in partnership with Mutual Fund Administration Corporation in late 2007.

Last week, UMB Fund Services announced it was adding 30 jobs this year in its Milwaukee headquarters in response to the growth it has been experiencing.  

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