Ultimus Fund Solutions provides fund of funds managers with a comprehensive suite of services which increases efficiency and introduces best practices while reducing operating costs. This includes experience with vehicles whose underlying investments include both open and closed ended funds. Our team of experienced professionals provides high quality, customized solutions to relieve the manager of accounting and administrative tasks.
Our services for fund of funds includes:
Ultimus will distribute offering documents to prospective investors, maintain a distribution list to comply with private offering regulations, and maintain files with signed copies of all subscription documents.
To take care of all subscription aspects, we will review and process all subscription agreements and additional contributions for accuracy and completeness. Redemption requests are processed in accordance with the offering memorandum of the fund and notice is provided to fund management.
Ultimus will process the capital activity into and out of underlying portfolio funds.
If the portfolio funds are open-ended (e.g. hedge funds) then we will complete subscription agreements and redemption forms on behalf of the fund.
If the portfolio funds are closed-ended (e.g. Private Equity/Venture Capital) then we will coordinate with the underlying funds to meet all capital calls and complete paperwork for new commitments of the fund. This includes the monitoring of cash flows and analysis needed based on incoming distributions and outgoing capital calls.
Ultimus ensures your fund is compliant with Anti-Money Laundering (AML) requirements of local regulatory bodies.
We will gather financial data and statements from all underlying portfolio funds and complete a consolidation of the financials up to the fund-level, the accounting for the fund and produce investor statements. A comprehensive set of financials are provided to the fund.
All banking and funds transfer activities are initiated for the fund while allowing you to have the final approval for all disbursements.
Ultimus works directly with your audit team and tax advisers providing them with all the data and information they need to complete the year-end process. As questions arise from either group, we are available to assist.In addition, we can prepare the initial draft of the audited financial statements including the financial highlights and other footnote disclosures.