UMB Fund Services wins fund accounting and custody mandate from Pear Tree Funds

Offered through UMB Bank’s Institutional Custody division, the firm will provide custody and fund accounting to Pear Tree’s six funds with AuM of nearly $5 billion.

By Joe Parsons

UMB Fund Services has been selected by US asset manager Pear Tree Advisors to provide fund accounting and global custody services to its range of mutual funds.

The firm will provide global custody services through UMB Bank’s Institutional Custody division, while the fund services division will also provide tax preparations and reporting services to Pear Tree’s six funds, including two domestic and four international funds with assets under management of nearly $5 billion.

“The Pear Tree fund family continues to grow, and we needed a fund accountant and custodian that can provide unwavering support for our current and future needs,” said Diane Hunt, controller, Pear Tree Advisors. “UMB’s well-rounded fund accounting and custodial expertise is only outdone by the firm’s high-touch service, giving us peace of mind and allowing us to stay focused on the needs of our own clients.”

UMB’s Institutional Custody’s high-touch technology platform will also provide trade settlement, corporate actions and other related serves to the Pear Tree Funds’ portfolio.

“We are pleased to provide a suite of fund and custody services for Pear Tree Funds. This partnership showcases our team’s dedication to providing unparalleled client service and providing solutions that address all of our clients’ needs,” said Maureen Quill, executive vice president and executive director of registered funds, UMB Fund Services.

Over the past few years, UMB has expanded its range of services helping to achieve record growth in its assets under administration. Earlier this year, it recruited 30-year fund operations veteran Mike Huisman to oversee its growing transfer agency business.