Ultimus Fund Solutions has won a new mandate from Public Trust Advisors, an independent investment advisor with $50 billion in assets under management (AuM).
Under the mandate, Ultimus will provide Public Trust with fund accounting and transfer agency services to 12 local government investment pools (LGIP) funds.
The fund administrator stated it played a significant role in the construction and launch of the new Public Trust Participant Portal, which leverages Ultimus’ advanced uSUITE technology.
“We have been impressed from the beginning with the depth and breadth of expertise that Ultimus brings to this partnership; they truly live up to their ‘business partner’ mantra,” said Public Trust Advisors CEO, Tom Jordan. “Based on the firm’s technological sophistication, client-centric approach, and the skills of its professionals, we felt certain that Ultimus would be a good fit for Public Trust.”
The mandate is the second announced by Ultimus this year, after it retained a servicing relationship with Cramer Rosenthal McGlynn, a New York-based asset manager, to provide fund administration, accounting and transfer agency services to five mutual funds with $1 billion in AuM.
“Recently, there’s been an uptick in firms looking to outsource various internal administrative functions,” said Gary Tenkman, CEO, Ultimus Fund Solutions.
“Ultimus’ track record of working with clients to design customised service models and innovative processes to facilitate their businesses, made us a natural fit for Public Trust Advisors.”
Global Custodian recently spoke to Ultimus Fund Solutions trio Ian Martin, chief administrative officer, Gary Harris, head of sales, and Nick Darsch, senior vice president – business development, on how it sees transfer agency as a differentiator in its fund administration offering.