CINCINNATI--(BUSINESS WIRE)--Ultimus Fund Solutions, LLC (“Ultimus”) announced today that it was selected by Eubel Brady & Suttman Asset Management, Inc. (“EBS”) to provide fund organization and fund servicing for two mutual funds. The new funds will only be available to EBS advisory clients, and EBS relied on the industry expertise of the Ultimus team to address unique tax and operational issues as they developed these investment vehicles. The partnership points to the ongoing importance of operations, as managers look to leverage unique fund structures to better meet evolving business and investor needs. This is the latest in a series of wins for Ultimus as the firm continues to establish itself as a leader in mutual fund operations.
Ultimus provided a fund organization strategy to help EBS set up the proper fund structures and then will provide ongoing mutual fund servicing, including fund accounting, administration and reporting. EBS reorganized a private fund with a long-term orientation toward convertible securities into a mutual fund and created a new income fund, both of which will be available only to its clients.
“While many firms launch mutual funds to gain access to a much wider investor base, EBS was looking to use mutual funds in a unique way to better serve its current client base,” said Dave Carson, Vice President, Director of Client Strategies at Ultimus. “Because they only wanted the funds to be open to the firm’s advisory clients and they didn’t want to charge a management fee at the fund level, there were some operational complexities that we had to work through with them. We really got to a place that would allow them to better serve their client and business needs, while meeting all the necessary regulatory requirements. We have enjoyed working with the EBS crew during the fund formation phase, and as a business partner look forward to growing with them.”
“We had very specific, client oriented goals in mind when we started these funds and those came with some unique and sometimes complex structural and operational considerations,” said Scott Lundy, a Principal of EBS. “Ultimus brought a high level of hands-on expertise and customer service to the process. They carefully explained our options during the planning phase and walked with us as the plan was implemented. We view the Ultimus team as true business partners and look forward to working with them for many years to come.”
About Ultimus Fund Solutions
Ultimus Fund Solutions provides highly customized and comprehensive mutual fund services to small- and medium-sized fund groups. The company offers mutual fund startup and organization services, fund administration and distribution, compliance and middle office services, fund accounting and pricing, and transfer agent and shareholder services for both open-end and closed-end funds. Ultimus’ broad range of services are performed by teams of CPAs, attorneys, paralegals and other professionals with a wealth of mutual fund experience.
For more information, visit http://www.ultimusfundsolutions.com/.