UMB Bank’s Institutional Custody division has been mandated by E-Valuator to provide custody services for its range of mutual funds.
UMB will also provide E-Valuator with critical services including trade settlement, straight-through securities processing, safekeeping and reporting.
Systelligence, which runs the E-Valuator Risk Managed Strategy Funds, manages assets of $592 million, as of June 2020, and offers investors six risk-managed strategy funds designed to help investors meet their investment goals.
The mandate follows the recent enhancement of UMB Institutional Custody’s trading platform capabilities by adding Broadridge’s Matrix Financial Solutions, allowing clients to execute mutual fund trade orders from multiple platforms.
“This custodial arrangement with UMB and Broadridge’s Matrix Financial Solutions provides the most expansive platform of ETFs and mutual funds that we were able to find in the industry,” said Kevin Miller, chief investment officer, E-Valuator Funds.
“The size, depth, and industry leading services these organisations bring to Fintech gives us the confidence that the E-Valuator funds are very well positioned to optimise performance for their shareholders well into the future.”
Last month, UMB Bank’s Institutional Custody division was appointed as custodian to Pear Tree’s six funds with assets under management of nearly $5 billion.