INVESTMENT MANAGERS SERIES TRUST
235 W. Galena Street
Milwaukee, WI 53212
May 18, 2018
VIA EDGAR
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549
| Re: | Investment Managers Series Trust (the “Trust”) Registration Statement on Form N-14 (File No. 333- ) |
Ladies and Gentlemen:
We are filing the Trust’s Registration Statement under the Securities Act of 1933, as amended, on Form N-14, including exhibits thereto. The Combined Proxy Statement and Prospectus contained in this filing relate to the reorganization of the Phocas Real Estate Fund, a series of Forum Funds II, into the AAM/Phocas Real Estate Fund, a separate series of the Trust.
Please contact me at (626) 385-5777 with your questions or comments regarding this Registration Statement.
Sincerely,
/s/ Diane J. Drake
Diane J. Drake
Secretary