# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001398344-23-003526
**Filing Date:** 2023-2
**Character Count:** 2193
**Document Hash:** e776ae60e74074952eaacf305f024bca
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-23-003526.hdr.sgml**: 20230215

**ACCESSION NUMBER**: 0001398344-23-003526

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230215

**DATE AS OF CHANGE**: 20230215

**EFFECTIVENESS DATE**: 20230215

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Investment Managers Series Trust II
- **CENTRAL INDEX KEY:** 0001587982
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-191476
- **FILM NUMBER:** 23635043

**BUSINESS ADDRESS:**
- **STREET 1:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 414-299-2295

**MAIL ADDRESS:**
- **STREET 1:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212

## Series and Classes Contracts Data

### First Trust Merger Arbitrage Fund (Series ID: S000048195)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000152358 | Class A Shares | VARAX           |
| C000152359 | Class I Shares | VARBX           |

**First Trust Merger Arbitrage Fund**

Class A Shares – VARAX

Class I Shares – VARBX

*A series of Investment Managers Series Trust II (the "Trust")*

**Supplement dated February 15, 2023, to**

**the Summary Prospectus dated February 1, 2023.**

Effective February 15, 2023 (the "Effective Date"), Jeff O'Brien will no longer serve as a portfolio manager of the First Trust Merger Arbitrage Fund (the "Fund"). Mr. O'Brien's departure follows the long-term succession plan of First Trust Capital Management L.P. ("FTCM"), the Fund's investment advisor. Accordingly, as of the Effective Date, all references in the Summary Prospectus to Mr. O'Brien as a portfolio manager of the Fund are hereby deleted. The Fund will continue to be managed by an FTCM investment team led by portfolio manager Daniel Lancz. Mr. Lancz has been a portfolio manager of the Fund since its inception in October 2015. In addition, Mr. Lancz was a portfolio manager of the Fund's predecessor fund from 2004 until its reorganization into the Fund in October 2015.

***Please retain this Supplement with your records.***