UMB trust tops $5 billion

Milwaukee-based UMB Fund Services Inc. now has more than $5 billion in net assets in its Investment Managers Series Trust, a huge jump from what the fund held just a few months ago.

UMB opened the fund in the second half of 2007, and it has seen rapid growth ever since. In March 2012, assets topped $2 billion, the IMST surpassed $3 billion in September 2012 and it hit $4 billion in February 2013.

“Achieving the $5 billion milestone is largely a testament to the quality of the advisors in the IMST,” said John Zader, CEO of UMBFS and president of the IMST. “Those who have joined and worked with us for the past few years are starting to show solid growth in their assets, and many are in the process of launching additional funds. It’s gratifying to be a partner in their success.”

Managers utilize the IMST to quickly and inexpensively manage mutual funds. UMBFS and California multiple-series trust administration firm Mutual Fund Administration Corporation partnered to offer the trust.

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