CINCINNATI, OHIO – April 14, 2020 – Ultimus Fund Solutions® (Ultimus®) announced today that it was recently selected as the fund administration service provider for Red Cedar Investment Management, LLC, a global asset manager and Registered Investment Adviser (RIA) with the Securities and Exchange Commission (SEC). The new fixed income fund launched with Ultimus’ assistance is part of a standalone proprietary trust and is comprised of high-quality, short duration bonds with a focus on securitized products. Red Cedar, formed in 2013 to serve institutional clients such as endowments, foundations, and pension funds, today has $1.3 billion in assets under management and is headquartered in Grand Rapids, Michigan. The company is a subsidiary of Delta Dental of Michigan and Ohio.
Red Cedar is strategically focused on developing long-term partnerships with its clients by seeking to provide high-quality, income-producing strategies through research across the capital structure, and an expertise in managing preferred securities. The Red Cedar team selected Ultimus for its robust and comprehensive suite of solutions including financial accounting, fund administration, transfer agent, distribution, and full suite of technology services.
“While the series trust structure makes sense for many advisers as they launch mutual funds, they may not be the best solution for every circumstance,” said Dave Carson, Vice President, Director of Client Strategies at Ultimus. “Our goal has always been to help investment advisers operate within a structure that makes sense for their business needs. Red Cedar selected Ultimus for the same reason many of our clients choose us – for our hands-on service and support to grow their initial fund, as well as any additional go-to-market products they may develop in the future.”
“Even though they are one of the largest independent providers of registered fund services, Ultimus has a true focus on delivering customized service levels to clients,” said David Withrow, Director of Portfolio Management for Red Cedar. “While we have an experienced portfolio management and sales team on staff, we are still considered a boutique investment firm. Through our due diligence, we found that Ultimus fit our overall business model very well, and I’ve been impressed with the efficiency and professionalism of their teams to consistently grow portfolios in today’s challenging and ever-changing market.”
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 750 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,200 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.
8320 UFS 4/3/2020