Ultimus Fund Solutions has been chosen by Ranger Global Real Estate Advisors, a US real estate investment manager, to use its middle-office outsourcing service for its retail mutual funds.
Ranger Global, which managers around $500 million in assets, will also use the Ultimus middle-office service for its separately managed accounts (SMAs).
For its retail mutual funds, Ultimus will provide trade processing and settlements, monitoring and communication corporate actions, global investment performance standards (GIPS) verification, performance measurement and custodian reconciliations.
Ultimus will also provide advisor and client reporting for its SMAs, on top of its middle-office services.
“The Ultimus turnkey middle-office solution allowed us to transition our business quickly. Plus, with their infrastructure and experienced team members in place, we will be able to scale our business easily,” said Andrew Duffy, managing partner and CIO at Ranger Global.
The mandate with Ranger Global is the latest outsourcing mandate for Ultimus this year, as it continues to make waves in the mutual fund administration space.
In April it was selected to provide fund administration services to Hedeker Wealth, a $225 million Chicago-based wealth manager, for its first mutual fund, and in March was chosen as the fund administrator for a mutual fund operated by Selective Wealth, a $35 million wealth manager.