Fenimore Asset Management (FAM) has selected Ultimus Fund Solutions to provide services for its three mutual funds, with USD1.6 billion in net assets.
FAM, a Cobleskill, New York based firm, converted the servicing of their funds to Ultimus after performing the functions internally since the inception of the funds in 1987.
FAM hired Ultimus to provide fund administration, fund accounting and financial reporting services for the FAM Funds which include: FAM Value Fund, FAM Equity-Income Fund, and the FAM Small Cap Fund. Ultimus has also been hired by FAM Funds to provide Chief Compliance Officer services to these three funds.
“We have known the team at FAM for many, many years and were delighted when they called us about servicing their funds,” says Bob Dorsey (pictured), Ultimus CEO and Managing Director. “FAM is a high quality, boutique investment adviser, and we understand that as such they value highly personalised service. We worked closely with them to customise a service model designed specifically for their needs, one focused on taking on certain day-to-day processes where they receive the benefit of our scale and expertise, while also maintaining flexibility to achieve their service goals. This type of customisation creates a unique situation and was ideal for us.”
Thomas Putnam, FAM CEO and Founder, says: “We wanted to ensure that the service provider we selected had the same commitment to high-quality services that we provide to our clients, and is basically an extension of our business.
“We have been in business since 1974, started our first fund in 1987 and have performed these services internally for over thirty years. To outsource, we were looking for a long-term provider with valuable experience and one that could service our funds with the same high quality that our Board and shareholders have come to expect. This partnership with Ultimus has proven to be the right fit, at the right time.”
