CINCINNATI, OHIO – January 19, 2021 – Ultimus Fund Solutions® (Ultimus®), a leading independent provider of integrated and customizable fund servicing solutions, is pleased to announce that it has been retained by Cramer Rosenthal McGlynn, LLC (CRM). Under this agreement, Ultimus will provide fund accounting, administration, transfer agency and shareholder services to the CRM five mutual funds with more than $1B in assets under administration (AUA) as of year-end.
Founded in 1973 and located in New York City, CRM manages approximately $3.3B in assets under management (AUM) for institutions and individuals and offers strategies as separate accounts, mutual funds, UCITS and private funds. The firm selected Ultimus as its fund servicing partner following a rigorous request for proposal (RFP) process conducted by Barrington Partners, a highly regarded consulting firm. That RFP process evaluated as many as four firms, including Ultimus, after which the CRM Mutual Fund Board made its decision to transition to Ultimus.
In the context of timing, CRM selected Ultimus just before the pandemic disrupted normal work environments earlier last spring. Even under the constrained virtual environment, Ultimus was able to successfully complete the entire CRM conversion from another service provider in a timely and successful manner. In the wake of uncertain times and a volatile business environment, CRM chose to work with Ultimus for reasons including Ultimus’ in depth industry and product knowledge, as well as relationships fostered between the CRM and Ultimus management teams.
CRM COO and General Counsel Steven A. Yadegari, said that CRM was impressed by Ultimus’ technological capabilities and depth of team. “We were impressed with the strength of the Ultimus team across all areas of the company and with the company’s ability to attract high-level talent from top firms,” he said. “The Ultimus professionals possess great levels of experience, skills and expertise, and provide a tremendous benefit for CRM as we position ourselves for future growth.”
“We were especially interested in the value Ultimus brings to our total cost of ownership,” Yadegari continued. “The firm’s capabilities improve the efficiency of our processes and helps expand CRM’s offerings to our shareholders. Through Ultimus’ uTRANSACT proprietary technology, our shareholders have access to an innovative shareholder portal with significantly enhanced user features.”
“We are extremely pleased to be working with an established and reputable firm like CRM,” said Gary Harris, EVP, Head of Business Development for Ultimus. “It is especially gratifying for us when we work with an informed and forward-looking management team like CRM’s, which made their selection of Ultimus even more satisfying. And, with our shared values of excellence and commitment to the shareholder, we are looking forward to a long and productive partnership between Ultimus and CRM.”
Recently, Yadegari joined a Nicsa-hosted panel to share his firm’s experience and best practices for working with a new service provider in a remote environment. The 3-person industry panel covered the broader topic of vendor selection and interactions in a virtual environment, and was moderated by David James, EVP, Chief Legal & Risk Officer for Ultimus.
Ultimus Fund Solutions (Ultimus) is a leading provider of full-service fund administration, accounting, and investor solutions to support the launching and servicing of registered funds, private funds, and public plans. The company also offers customized structures designed for the unique needs of pensions, endowments, foundations, and other large institutions. Ultimus’ deep commitment to excellence is achieved through investments in best-in-class technology, compliance programs, organization-wide cyber security efforts, and hiring seasoned professionals.
Headquartered in Cincinnati, Ohio with offices in other major cities such as Chicago and New York, Ultimus employs more than 700 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,300 total traditional and alternative funds, Ultimus helps investment managers and fund families flourish in today’s increasingly sophisticated and dynamic investment landscape. For more information, visit www.ultimusfundsolutions.com.