Ultimus Fund Solutions has surpassed USD50 billion in client assets serviced.
During 2016, Ultimus helped 11 advisers launch 15 new mutual funds.
It also managed the conversion of 12 clients with 36 mutual funds and over 50 separately managed accounts and private funds from other service providers.
“Ultimus enjoyed an incredible year of growth,” says Bob Dorsey (pictured), CEO and managing director of Ultimus. “We began the year with the extraordinary transition of the former Huntington Asset Services (HASI) book of business onto our service platform, which included services to collective investment funds and other pooled vehicles. In addition, we experienced robust growth from mutual funds converting from other service providers and mutual fund start-up opportunities.”
Ultimus finished 2016 with a 30 per cent increase in staff at the senior management level, including the acquisition and external hires.
Mark Seger, president and managing director, says: “Not only did Ultimus surpass USD50 billion in assets served, but through the loyal patronage of our clients and the daily service efforts of our professional team, we once again topped Global Custodian’s Annual Mutual Fund Administration Survey in all eight service categories.”
Gary Tenkman, COO and managing director of Ultimus, says: “Ultimus will remain focused on providing a high quality set of services to advisors in the marketplace, including our commitment to new fund managers through our four multi-series trusts, assisting advisors that want to grow their institutional SMA presence, and providing support for in-demand structures such as common and collective funds.
“Our goal is to be the provider of choice for advisers wishing to expand the distribution of their strategies via mutual funds and other pooled vehicles.”