The Gemini Companies (Gemini) (now Ultimus Fund Solutions) announced today that Fund Evaluation Group (FEG) an independent, full service investment advisory firm, will create an investment solution for their existing clients with Gemini’s Dedicated Managed Account (DMA) Platform. FEG will utilize the DMA structure with its institutional advisory clients, which includes endowments, foundations, and retirement plans.
Gemini’s DMA provides a platform of operational services via managed accounts or funds dedicated to institutional investors. The platform can support a variety of investment types including traditional liquids, illiquids, existing fund structures, and traditional alternatives. The DMA structure provides institutions more transparency of underlying assets, the ability to regulate the liquidity of assets, and better control over costs than they have through more direct fund investments. Asset owners would encompass Pensions, Endowments, Foundations, Outsourced Chief Investment Officers (OCIOs), and Family Offices.
Anthony Festa, CFA, Managing Principal and Head of Portfolio Strategy for FEG, noted, “Gemini’s innovative DMA platform aligns with our mission to offer entrepreneurial, forward-thinking solutions that help create value. Our sophisticated clients will benefit by having a solution that can preserve daily liquidity while allowing them to better understand and diversify their sources of risk. We are pleased to partner with an industry leader and offer a robust DMA platform.”
Key benefits institutions may achieve when leveraging Gemini’s DMA platform include:
- Access to investment managers
- Improved costs of portfolio implementation
- Ability to customize OCIO portfolios at the client level
- Portfolio transparency through position-level risk reporting
- Third-party guideline monitoring of underlying managers and strategies
- Better liquidity terms than is typical of a direct relationship
- Greater diversification at lower minimums (reduced need for significant internal resources)
- A flexible long-term solution without capacity or investment constraints
- Ease of allocation changes, single K-1, and single sub-doc
David Young, President of Gemini Hedge Fund Services and Gemini Alternative Funds, said, “We are pleased to be working with OCIOs like FEG. Providing a DMA solution works to bolster their reputation in the industry, and support their desire to deliver consistent value to their clients. Future clients will appreciate the agility of the DMA platform and the reduction in costs and fees that it provides.”
FEG (also known as Fund Evaluation Group, LLC), is a national provider of investment advisory services to institutional investors such as endowments, foundations, healthcare organizations, and retirement plans. FEG services include investment consulting, OCIO, and research services. For more information, visit www.feg.com.