CINCINNATI, Ohio--(BUSINESS WIRE)--Ultimus Fund Solutions®, LLC (Ultimus) announced today that it has been chosen by Selective Wealth Management (Selective) to provide fund administration services for the firm’s mutual fund, the Selective Opportunity Fund (Fund). Located in Lynchburg, Virginia, Selective intends to use the Fund, a concentrated all cap mutual fund, as the main investment offering for their clients. The mutual fund format will allow for efficiency and consistency in the execution of Selective’s investment strategy, which will support serving investors as the firm grows. The Fund’s strategy was developed from the firm’s experience in managing separately managed accounts. The Fund will be part of the Unified Series Trust, one of four series trust’s served by Ultimus.
Selective’s investor relationship philosophy is focused on the premise that “a better educated investor is a better investor.” Working from that premise, Selective has developed a series of educational resources that share information on their investments, process and general investment principles. It was clear to Selective’s owners during the due diligence process that educating clients is a hallmark of Ultimus’ business development partnership. Ultimus wants its clients to understand each step of the process of developing a new fund and works hard to make that a reality.
Selective chose Ultimus after reviewing a number of mutual fund service providers, citing the firm’s educational and consultative approach as it relates to product design, launching a mutual fund and regulatory rigor involved in managing a fund. The firm is one of the most recent managers to choose Ultimus as a mutual fund service provider and will receive the following services as part of the arrangement: fund administration, fund accounting, transfer agency, compliance and distribution services.
“Selective took their time and researched the implications that launching a mutual would have on their business model. After thoughtful consideration, Selective concluded that a mutual fund product was the best option for them to continue to scale their business efficiently,” said Dave Carson, President of Unified Series Trust. “Their philosophy of education is closely aligned with the way Ultimus conducts business. We are so pleased to be a functional part of Selective’s growth plan and we look forward to working with them for years to come.”
“It was evident early in the process that Ultimus had expertise to help architect a more transparent fund, thinking about what will be suitable tomorrow and in the future,” said Chris Devlin, Chief Investment Officer at Selective. “With their consultative approach, they clearly understand our business direction and how the Fund can help us most effectively to get there. We’re excited about our Fund, and happy to have Ultimus as a partner.”
About Ultimus Fund Solutions
Ultimus Fund Solutions provides highly customized and comprehensive middle and back office services to midsize and smaller investment advisors. Ultimus offers service solutions for mutual funds, including fund organization, fund administration, fund accounting, transfer agent and distribution services for both open- and closed-end funds, plus turnkey solutions for collective investment trusts.
Ultimus’ middle office service solution for separately managed accounts and private funds encompasses managing the technology infrastructure and operations to manufacture the data, enabling delivery of detailed reporting to advisors, investors, and regulators. Ultimus’ comprehensive services are performed by teams of accountants, attorneys, paralegals and other professionals with a wealth of financial services experience. For more information, visit www.ultimusfundsolutions.com.
About Selective Wealth Management
Selective Wealth Management creates value for our investors by purchasing Selective Companies that produce irreplaceable goods and services, are highly profitable, possess pricing power, demonstrate careful debt management, skillfully reinvest earnings, and are led by world class leaders. This has been and continues to be the back bone of our Selective Process. The Selective Opportunity Fund (SLCTX) is a non-diversified mutual fund with the primary objective of maximizing long-term returns while protecting client principle. The Fund implements the Selective Process to construct an equity portfolio of the world’s most dominant businesses purchased at attractive prices. For more information, visit www.selectivewm.com.
