UMB Fund Services has put out a press release to say that its Investment Managers Series Trust has passed the $3 billion mark in AUM.

The trust has 43 mutual funds managed by 27 advisors, according to UMB executive vice president of business development Lonnie Macdonald.

The trust, launched in 2007, has been growing rapidly in recent months. The release notes that while it took nearly four years to reach the $1 billion in AUM, the trust passed $2 billion just this past March, as MFWire reported.

The trust is managed jointly by UMB Fund Services, based in Milwaukee, and Mutual Fund Administration Corporation, a California company that specializes in series-trust aministration.

Below is the full press release.

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UMB Financial Corporation : UMB Fund Services' Multiple-Series Trust Surpasses $3 Billion

UMB Fund Services, Inc. (UMBFS) announced that the Investment Managers Series Trust (IMST) surpassed the $3 billion mark in net assets at the end of September, just months after reaching $2 billion earlier this year.

The IMST, which was started in late 2007, has continued to grow rapidly over the past two years through a combination of asset growth and the addition of new funds to the trust. While it took more than three years to reach the $1 billion mark in mid-2011, it took just over seven months to reach $2 billion and less than seven months to reach $3 billion.

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

About UMB Fund Services

UMB Fund Services, headquartered in Milwaukee, Wis., offers a complete line of products and services to the fund industry, including administration and fund accounting, investor services and transfer agency, marketing and distribution; custody services through UMB Bank, n.a.; alternative investment services through JD Clark & Co.; and managed account services. It currently serves more than 200 clients with combined assets of approximately $150 billion. For the past two years, the company has been named one of the top 10 midsize employers in southeastern Wisconsin by the Milwaukee Journal Sentinel. UMB Financial Corporation (NASDAQ: UMBF), the parent company of UMBFS, is a financial services holding company with more than $13.6 billion in banking assets, headquartered in Kansas City, Mo.

About Mutual Fund Administration Corporation

Mutual Fund Administration Corporation is a mutual fund administration services company specializing in fund formation and administration services. The company's Principals have provided hands-on fund administration services to well over 200 mutual funds since 1990, including three successful multiple-series trusts composed of approximately 125 separate funds.  

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