Firm leverages Ultimus’ expertise and experience to service current funds
CINCINNATI, OHIO – October 31, 2017– Ultimus Fund Solutions®, LLC (Ultimus®), is pleased to announce that it has been engaged to provide a full range of services for Oak Associates’ seven mutual funds. Oak Associates, ltd., an Akron, Ohio based investment adviser with over $1.4 billion in assets under management, will gain access to Ultimus’ proactive distribution solutions and benefit from its partnership approach for servicing the Oak Associates advised family of funds.
Oak Associates, ltd., founded in 1985, is a U.S. equity investment adviser. The firm provides investment portfolios to foundations, endowments, pension plans, private clients, and mutual fund investors. For the firm’s family of no-load mutual funds, Ultimus will provide a range of services including fund accounting, financial administration, legal/compliance, distribution and transfer agency.
“Finding a partner with a similar cultural fit was a priority in our review process and it ensured a smooth and transparent conversion process,” said Chuck Kiraly, President of Oak Associates Funds. “One of our concerns with changing service providers was the potential impact that it could have on our shareholders. With their partnership approach and focus on the shareholder experience, Ultimus remained proactive throughout the process, meticulously tending to a multitude of details.”
The conversion of fund services includes the following funds: White Oak Select Growth, Pin Oak Equity, Rock Oak Core Growth, River Oak Discovery, Red Oak Technology Select, Black Oak Emerging Technology, and Live Oak Health Sciences.
“We are delighted that Oak Associates chose to move forward with their conversion to Ultimus,” said Bob Dorsey, CEO and Managing Director at Ultimus. “Working with a firm who upholds the same Midwestern ideals led to an instant, cohesive relationship. We recognized their goals and with several on-site visits, worked very closely to ensure a smooth process. Those visits were valuable to us as well, giving us insights for service opportunities going forward.”
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About Ultimus Fund Solutions
Ultimus Fund Solutions provides highly customized and comprehensive middle and back office services to midsize and smaller investment advisers. Ultimus offers service solutions for mutual funds, including fund organization, fund administration, fund accounting, transfer agent and distribution services for both open- and closed-end funds, plus turnkey solutions for collective investment trusts.
Ultimus’ middle office service solution for separately managed accounts and private funds encompasses managing the technology infrastructure and operations to manufacture the data, enabling delivery of detailed reporting to advisers, investors, and regulators. Ultimus’ comprehensive services are performed by teams of accountants, attorneys, paralegals and other professionals with a wealth of financial services experience. For more information, visit www.ultimusfundsolutions.com.
