CINCINNATI, OHIO – December 7, 2023 Ultimus Fund Solutions® (Ultimus®), a leading independent provider of full-service, technology-enhanced fund administration, accounting, and investor solutions, is proud to announce it is the new service provider for the family of mutual funds advised by Hodges Capital Management. With Ultimus’ guidance, Hodges, an asset management firm with nearly $1 billion in assets under management, completed an intricate but successful multi-fund conversion, which included the reorganization of the funds from one series trust to another.
The decision to change service providers was driven in part by Hodges Capital’s commitment to optimizing its family of four mutual funds and its desire to execute a more structured working model with a responsive partner such as Ultimus that is equally committed to creating efficiencies for their business with its engaged personnel and its uSUITE technology platform.
Craig Hodges, Founder, CEO, and Co-Chief Investment Officer of Hodges Capital, relates the need to find a partner who could help optimize their operating model. “As an investment firm that values providing the best possible investment products and service to its clients, finding a partner to help us perform at the most efficient level was crucial. We were thoroughly impressed with Ultimus’ ability to exhibit flexibility throughout the process and provide services that greatly enhanced our day-to-day operations. This change was a long time coming, and we are excited for the new partnership and the possibility it brings to the future of our firm.”
Kevin Wolf, EVP, and Head of Fund Administration and Product at Ultimus, notes the rise in series trust reorganizations. He credits Ultimus’ adaptive technique and comprehensive service model for the increase in this previously rare type of conversion. “For a series trust reorganization of this magnitude, Ultimus provides a combination of adept knowledge and experience, active engagement, elite project management and superior technology to greatly reduce the conversion burden on the manager. We are honored that Hodges Capital trusted us enough to perform this reorganization but more importantly we are looking forward to continued collaboration and a strong, long-term relationship.”
The finalization of the Hodges conversion brings the total number of Ultimus’ series trust reorganizations to five for this year. In the last three years, the firm has completed 33 client conversions, with three more clients in the process of converting to Ultimus by the end of the year, totaling 152 funds. The firm continues to provide flexible and tailored service as it guides asset managers through their journey to accomplish their unique investment and business goals.
Ultimus Fund Solutions (Ultimus) is a leading provider of full-service tech-enhanced fund administration, accounting, middle office, 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 New York, Philadelphia, Denver, and Omaha, Ultimus employs more than 975 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,800 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.