Ultimus Fund Solutions has been chosen to provide fund accounting, transfer agent and Blue Sky services for Conestoga Capital Advisors’ two mutual funds, which exceed USD795 million in net assets.
Conestoga, a Pennsylvania based firm with over USD1.6 billion in assets under management, is partnering with Ultimus to leverage its technology and experienced mutual fund professionals.
“We continue to see successful and growing investment managers evaluating their service providers in order to make sure they are keeping up with the constantly evolving fund industry,” says Bob Dorsey (pictured), CEO and managing director at Ultimus. “We provide industry-leading technology, proven processes, and professional people with industry expertise so firms like Conestoga can focus on managing money and servicing clients, not dealing with operational issues. Our company cultures align very well and we are delighted to partner with Conestoga.”
Conestoga, founded in 2001, is a boutique, independent investment advisory firm specialising in the management of small and mid-cap equities through the firm’s separate account programmes along with the Conestoga Small Cap Fund and the Conestoga SMid Cap Fund.
The Small Cap Fund, which launched in 2002, currently has over USD775 million in net assets, and the SMid Cap Fund, which launched in January 2014, has approximately USD18 million in net assets.
“Our firm has successfully grown assets since our inception in 2001. With that growth, Conestoga sought out a service provider that offered advanced services to meet the current and future growth needs of the Conestoga Funds,” says Duane D’Orazio, managing partner and chief compliance officer at Conestoga. “After a thorough evaluation of several service providers, we selected Ultimus based on their demonstrated client service level, proven processes, depth of personnel and advanced technology. The Ultimus conversion process was extremely efficient, well thought out and accurate, which resulted in meeting the goals that were set in partnering with them. We look forward to a long and mutually beneficial business partnership with Ultimus.”
