Past relationship confirms new service provider selection
CINCINNATI, OHIO – November 27, 2018 – Ultimus Fund Solutions®, LLC (Ultimus®), one of the largest independent providers of mutual fund, private fund and middle office services, announces that it was recently selected by Chartwell Investment Partners (Chartwell) to provide fund administration services for its five mutual funds, with nearly $2 billion in net assets. Chartwell, a Berwyn, PA based firm, rekindled its past relationship with Ultimus by converting the fund servicing of its growing fund family to Ultimus.
Ultimus’ relationship with the firm began in 2005 with The Killen Group and the firm’s three proprietary Berwyn Funds. After the Killen Group was acquired by TriState Capital Bank and merged into Chartwell Investments in 2016, Chartwell reorganized the Berwyn Funds into a series trust which included two Chartwell mutual funds. In 2017, Chartwell organized its own stand-alone trust and moved each of the Funds into its own proprietary fund family, building a fund complex with a total of over 9,000 shareholder accounts. While the servicing of the funds changed providers due to the acquisition, certain essential relationships between Chartwell and Ultimus remained in place, leading to the transition of fund administration servicing back to Ultimus.
“We are thrilled to re-establish our relationship with our friends at Chartwell, reconnecting to service their funds and expanding our alliance with the additional funds,” said Mark Seger, Managing Director and Co-CEO of Ultimus Fund Solutions. “We have supported them in their growth and are eager to be their business partner as the Chartwell Funds continue to grow.”
“We recognized the incredible value that Ultimus delivers and wanted that same type of consultative partnership we relied upon in the past,” said Mike Magee, COO – Retail Division and EVP of The Chartwell Funds. “The high level of service they provided for us before could not be matched by another administrator. Having fund administration with a quality, in-house legal team at Ultimus along with their high touch, solutions-oriented professionals made this decision to convert easy. It has been a well-managed, smooth conversion process, and this has proved to be a great opportunity for our firm to re-establish our relationship with Ultimus.”
About Ultimus Fund Solutions
Ultimus Fund Solutions provides highly customized and comprehensive middle and back office services to investment advisers. Ultimus’ high-quality services include solutions for mutual funds, separately managed accounts, private investment funds and other pooled investment structures.
Our offering comes with a deep commitment to excellence, achieved through our investments in both talent and technology, with constant focus on maintaining our boutique service culture. As a result, Ultimus has stood out as an award-winning, trusted business partner to investment advisers and fund families since 1999.
Ultimus’ comprehensive service solutions are provided by seasoned teams of accountants, attorneys, paralegals, application developers and other professionals with a wealth of financial services experience. For more information, visit www.ultimusfundsolutions.com.