# EDGAR Filing Document

**Accession Number:** 0001318342
**File Stem:** 0001398344-26-004373
**Filing Date:** 2026-3
**Character Count:** 22157
**Document Hash:** faaeda8345e54f26cc73db5ae5b0232b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-26-004373.hdr.sgml**: 20260304

**ACCESSION NUMBER**: 0001398344-26-004373

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260304

**DATE AS OF CHANGE**: 20260304

**EFFECTIVENESS DATE**: 20260304

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Investment Managers Series Trust
- **CENTRAL INDEX KEY:** 0001318342

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-122901
- **FILM NUMBER:** 26721379

**BUSINESS ADDRESS:**
- **STREET 1:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 626-914-4141

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Claymore Trust
- **DATE OF NAME CHANGE:** 20050603

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Claymore Equity Trust
- **DATE OF NAME CHANGE:** 20050218

## Series and Classes Contracts Data

### Genter Dividend Income Fund (Series ID: S000024739)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000073478 | Genter Dividend Income Fund | GDIIX           |

---

| | |
|:---|:---|
| ![](fp0097680-4_tik11.jpg) | **Genter Dividend Income Fund** <br> **Ticker Symbol: GDIIX** |
| Summary Prospectus | February 28, 2026 |

---

*Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's Statutory Prospectus and Statement of Additional Information and other information about the Fund online at https://funddocs.filepoint.com/gentercm/. You may also obtain this information at no cost by calling 1-877-5GENTER or by sending an e-mail request to info@gentercap.com. The Fund's Prospectus and Statement of Additional Information, both dated February 28, 2026, as each may be amended or supplemented, are incorporated by reference into this Summary Prospectus.* 

**Investment Objective** 

The investment objective of the Genter Dividend Income Fund (the "Fund") is to seek long-term capital appreciation and current income.

**Fees and Expenses of the Fund** 

This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Shareholder Fees** *(fees paid directly from your investment)* |  |
| &nbsp;&nbsp;Maximum sales charge (load) imposed on purchases as a percentage of amount of offering price |  |
| &nbsp;&nbsp;Maximum deferred sales charge (load) |  |
| &nbsp;&nbsp;Redemption fee if redeemed within 30 days of purchase (as a percentage of amount redeemed) | 2.00% |
| &nbsp;&nbsp;Wire fee | $20 |
| &nbsp;&nbsp;Overnight check delivery fee | $25 |
| &nbsp;&nbsp;Retirement account fees (annual maintenance fee) | $15 |
| &nbsp;&nbsp;**Annual Fund Operating Expenses<sup>1</sup>** *(expenses that you pay each year as a percentage of the value of your investment)* |  |
| &nbsp;&nbsp;Management fees | 0.70% |
| &nbsp;&nbsp;Distribution (Rule 12b-1) fees | 0.25% |
| &nbsp;&nbsp;Other expenses | 0.75% |
| &nbsp;&nbsp;Total annual fund operating expenses | 1.70% |
| &nbsp;&nbsp;Fees waived and/or expenses reimbursed<sup>2</sup> | (0.45)% |
| &nbsp;&nbsp;**Total annual fund operating expenses after waiving fees and/or reimbursing expenses**<sup>2</sup> | **1.25%** |

---

<sup>1</sup> <sup></sup>The expense information in the table has been restated to reflect the current management fee effective March 1, 2026.<sup></sup>

<sup>2</sup> The Advisor has contractually agreed to waive its fees and/or pay for operating expenses of the Fund to ensure that total annual fund operating expenses (excluding any taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses, as determined in accordance with Form N-1A, expenses incurred in connection with any merger or reorganization and extraordinary expenses such as litigation expenses) do not exceed 1.25% of the average daily 

net assets of the Fund. This agreement is in effect through February 28, 2029, and it may be terminated before that date only by the Trust's Board of Trustees. The Advisor is permitted to seek reimbursement from the Fund, subject to certain limitations, of fees waived or payments made to the Fund for a period ending three full fiscal years after the date of the waiver or payment. This reimbursement may be requested from the Fund if the reimbursement will not cause the Fund's annual expense ratio to exceed the lesser of (a) the expense limitation in effect at the time such fees were waived or payments made, or (b) the expense limitation in effect at the time of the reimbursement.

**Example** 

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The example reflects the Fund's contractual fee waiver and/or expense reimbursement only for the term of the contractual fee waiver and/or expense reimbursement.

Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | |
|:---|:---|:---|:---|
| **One Year** | **Three Years** | **Five Years** | **Ten Years** |
| $127 | $397 | $789 | $1889 |

---

**Portfolio Turnover** 

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 50% of the average value of its portfolio.

**Principal Investment Strategies** 

Under normal market conditions, the Fund will invest at least 80% of its net assets plus borrowings for investment purposes in equity securities that have records of paying dividends. The Fund will invest primarily in companies with market capitalizations of $10 billion or higher at the time of initial purchase. In addition, the Fund will generally invest in a diversified portfolio of 25 to 50 securities typically spread across many economic sectors. Investments in and weightings of individual sectors will vary based on the Advisor's assessment of valuation and the economic outlook. The Fund may invest up to 20% of its assets in foreign securities, including in American Depositary Receipts ("ADRs"), which are receipts that represent interests in foreign securities held on deposit by U.S. banks. The Fund may also invest in exchange-traded funds ("ETFs") to manage the Fund's cash holdings and gain exposure to the types of securities in which the Fund primarily invests. ETFs are investment companies that invest in portfolios of securities that are typically designed to track particular market segments or indices, the shares of which are bought and sold on a securities exchange.

**Principal Risks of Investing** 

Risk is inherent in all investing and you could lose money by investing in the Fund. A summary description of certain principal risks of investing in the Fund is set forth below. Before you decide whether to invest in the Fund, carefully consider these risk factors associated with investing in the Fund, which may cause investors to lose money. There can be no assurance that the Fund will achieve its investment objective.

**Market Risk.** The market price of a security or instrument may decline, sometimes rapidly or unpredictably, due to general market conditions that are not specifically related to a particular company, such as real or perceived adverse economic, political, or geopolitical conditions throughout the world, changes in the general outlook for corporate earnings, changes in interest or currency rates, or adverse investor sentiment generally. The market value of a security

or instrument also may decline because of factors that affect a particular industry or industries, such as tariffs, labor shortages or increased production costs and competitive conditions within an industry. In addition, local, regional or global events such as war, acts of terrorism, international conflicts, trade disputes, supply chain disruptions, cybersecurity events, the spread of infectious illness or other public health issues, natural disasters or climate events, or other events could have a significant impact on a security or instrument. The increasing interconnectivity between global economies and financial markets increases the likelihood that events or conditions in one region or financial market may adversely impact issuers in a different country, region or financial market.

**Equity Risk.** The value of the equity securities held by the Fund may fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, or factors relating to specific companies in which the Fund invests.

**Sector Focus Risk.** The Fund may invest a larger portion of its assets in one or more sectors than many other mutual funds and thus will be more susceptible to negative events affecting those sectors. For example, as of October 31, 2025, 27.4% of the Fund's assets were invested in the consumer, non-cyclical sector. Consumer, non-cyclical companies are companies that provide consumer staples, for example, food and drug retailers and companies the primary lines of business of which are food, beverage and other household items, including agricultural products. This sector can be significantly affected by, among other things, changes in price and availability of underlying commodities, rising energy prices and global and economic conditions.

**Management and Strategy Risk.** The value of your investment depends on the judgment of the Advisor about the quality, relative yield, value or market trends affecting a particular security, industry, sector or region, which may prove to be incorrect.

**Recent Market Events.** Periods of market volatility may occur in response to market events, public health emergencies, natural disasters or climate events, and other economic, political, and global macro factors. U.S. and international markets have recently experienced, and may continue to experience, periods of significant volatility due to various factors, including uncertainty regarding inflation and central banks' interest rate changes, the possibility of a national or global recession, trade tensions and tariffs, and political and geopolitical events. In addition, wars or threats of war and aggression, such as Russia's invasion of Ukraine and conflicts among nations and militant groups in the Middle East, have led, and in the future may lead, to increased short-term market volatility and may have adverse long-term effects on the U.S. and world economies and markets generally, each of which may negatively impact the Fund's investments. Additionally, since the change in the U.S. presidential administration in 2025, the administration has pursued an aggressive foreign policy agenda, including actual or potential imposition of tariffs, which may have consequences on the United States' relations with foreign countries, the economy, and markets generally. These and other similar events could be prolonged and could adversely affect the value and liquidity of the Fund's investments, impair the Fund's ability to satisfy redemption requests, and negatively impact the Fund's performance.

**Foreign Investment Risk.** The prices of foreign securities may be more volatile than the prices of securities of U.S. issuers because of economic and social conditions abroad, political developments, and changes in the regulatory environments of foreign countries. Changes in exchange rates and interest rates, and the imposition of sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and/or other governments may adversely affect the values of the Fund's foreign investments. Foreign companies are generally subject to different legal and accounting standards than U.S. companies, and foreign financial intermediaries may be subject to less supervision and regulation than U.S. financial firms. Foreign securities include ADRs and Global Depositary Receipts ("GDRs"). Unsponsored ADRs and GDRs are organized independently and without the cooperation of the foreign issuer of the underlying securities, and involve additional risks because U.S. reporting requirements do not apply. In addition, the issuing bank may deduct shareholder distribution, custody, foreign currency exchange, and other fees from the payment of dividends. Emerging markets tend to be more volatile than the markets of more mature economies and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries.

**Issuer Risk.** Issuer-specific attributes may cause a security held by the Fund to be more volatile than the market generally. The prices of, and income generated by, securities held by the Fund may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer's goods or services, poor management performance, major litigation, investigations or other controversies related to the issuer, changes in the issuer's financial condition or credit rating, changes in government regulation affecting the issuer or its competitive environment, and strategic initiatives such as mergers, acquisitions or dispositions and the market response to any such initiatives. An individual security may also be affected by factors related to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or another event affecting a single issuer. The value of an individual security or particular type of security may be more volatile than the market as a whole and may perform differently from the value of the market as a whole. At times, the Fund may invest more significantly in a single issuer, which could increase the Fund's volatility and the risk of loss arising from the factors described above.

**ETF Risk.** Investing in an ETF will provide the Fund with exposure to the securities comprising the index on which the ETF is based and will expose the Fund to risks similar to those of investing directly in those securities. Shares of ETFs typically trade on securities exchanges and may at times trade at a premium or discount to their net asset values. In addition, an ETF may not replicate exactly the performance of the benchmark index it seeks to track for a number of reasons, including transaction costs incurred by the ETF, the temporary unavailability of certain index securities in the secondary market or discrepancies between the ETF and the index with respect to the weighting of securities or the number of securities held. Investing in ETFs, which are investment companies, involves duplication of advisory fees and certain other expenses. The Fund will pay brokerage commissions in connection with the purchase and sale of shares of ETFs.

**Cybersecurity Risk.** Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, customer data (including private shareholder information), or proprietary information, or cause the Fund, the Advisor, and/or other service providers (including custodians, sub-custodians, transfer agents and financial intermediaries) to suffer data breaches, data corruption or loss of operational functionality. In an extreme case, a shareholder's ability to exchange or redeem Fund shares may be affected. The use of artificial intelligence and machine learning could exacerbate these risks. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of those securities could decline if the issuers experience cybersecurity incidents.

**Performance** 

The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the average annual total returns of the Fund compare with the average annual total returns of the S&P 500 Index, the MSCI US Investable Market high Dividend Yield Index, and the S&P 500 Value Index. The S&P 500 Index has been included as the primary broad-based securities market index in order to satisfy regulatory requirements. The Fund also compares its performance with the returns of the MSCI US Investable Market High Dividend Yield Index and the S&P 500 Value Index, which the Advisor believes are better performance benchmarks for comparison to the Fund's performance in light of the Fund's investment strategies. Updated performance information is available by calling the Fund at 1-877-5GENTER. The Fund's past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.

**Calendar-Year Total Returns (before taxes)<br> For each calendar year at net asset value per share ("NAV")**![](fp0097680-4_tik15.jpg)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Highest Calendar Quarter Return at NAV | 16.02% | &nbsp;&nbsp;Quarter Ended 06/30/2020 |
| &nbsp;&nbsp;Lowest Calendar Quarter Return at NAV | (26.53)% | &nbsp;&nbsp;Quarter Ended 03/31/2020 |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;***Average Annual Total Returns*** ****<br> ***for periods ended December 31, 2025*** | **One<br> Year** | **Five<br> Years** | **Ten<br> Years** |
| &nbsp;&nbsp;Return Before Taxes | 16.34% | 12.01% | 10.75% |
| &nbsp;&nbsp;Return After Taxes on Distributions<sup>(1)</sup> | 15.02% | 10.63% | 9.14% |
| &nbsp;&nbsp;Return After Taxes on Distributions and Sale of Fund Shares<sup>(1)</sup> | 10.56% | 9.36% | 8.39% |
| &nbsp;&nbsp;S&P 500 Value Index<sup>(2)</sup> (reflects no deduction for fees, expenses or taxes) | 13.19% | 12.96% | 11.73% |
| &nbsp;&nbsp;MSCI US Investable Market High Dividend Yield Index<sup>(2)</sup> (reflects no deduction for fees, expenses or taxes) | 14.68% | 11.13% | 10.62% |
| &nbsp;&nbsp;S&P 500 Index<sup>(2)</sup> (reflects no deduction for fees, expenses or taxes) | 17.88% | 14.42% | 14.82% |

---

<sup>(1)</sup> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. 

<sup>(2)</sup> The S&P 500 Value Index is a performance benchmark that reflects the market sectors in which the Fund primarily invests. The MSCI US Investable Market High Dividend Yield Index is a performance benchmark reflecting returns of companies with high dividend yields similar to those companies held by the Fund. The S&P 500 Index is a market-cap-weighted index that includes 500 of the top companies in leading industries of the U.S. economy and assumes any dividends are reinvested back into the index. 

**Investment Advisor** 

Genter Capital Management

**Portfolio Managers** 

The portfolio management team is comprised of David P. Klatt, First Vice President, and David Pescherine, Senior Vice President. Mr. Klatt has served as a portfolio manager of the Fund since its inception in December 2008. Mr. Pescherine has served as a portfolio manager of the Fund since October 2019. The members of the portfolio management team are jointly and primarily responsible for the day-to-day management of the Fund's portfolio.

**Purchase and Sale of Fund Shares** 

To purchase shares of the Fund, you must invest at least the minimum amount.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Minimum Investments** | **To Open<br> Your Account** | **To Add to<br> Your Account** |
| &nbsp;&nbsp;Direct Regular Accounts | $2500 | $500 |
| &nbsp;&nbsp;Direct Retirement Accounts | $2500 | $500 |
| &nbsp;&nbsp;Automatic Investment Plan | $2500 | $500 |
| &nbsp;&nbsp;Gift Account For Minors | $2500 | $500 |

---

Fund shares are redeemable on any business day the New York Stock Exchange (the "NYSE") is open for business, by written request or by telephone.

**Tax Information** 

The Fund's distributions are generally taxable, and will ordinarily be taxed as ordinary income, qualified dividend income or capital gains, unless you are investing through a tax-advantaged arrangement, such as a 401(k) plan or an individual retirement account. Shareholders investing through such tax-advantaged arrangements may be taxed later upon withdrawal of monies from those arrangements.

**Payments to Broker-Dealers and Other Financial Intermediaries** 

If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.