Ultimus Announces Expanded ETF Service Offerings

Semi-transparent ETFs serviced through Ultimus sponsored series trusts

Oct 06, 2020

CINCINNATI, OHIO – October 6, 2020Ultimus Fund Solutions® (Ultimus®), a leading independent provider of full-service fund administration, accounting, and investor solutions, is pleased to announce that it is expanding its Exchange Traded Fund (ETF) service offering in its sponsored series trusts to include active licensing for semi-transparent ETFs—also referred to as non-transparent ETFs.

While Ultimus currently offers services for both active and passive ETFs, the firm now offers servicing of active semi-transparent ETFs through our series trust solution. With licensing agreements for New York Stock Exchange (NYSE) and Blue Tractor models already in place, clients will not need to wait for SEC approval of semi-transparent relief. Ultimus’ respective engagements with NYSE and Blue Tractor are further steps allowing clients to bring semi-transparent ETF products to market more efficiently and quickly.

As for transparent ETFs, the SEC’s new ETF Rule 6c-11 has removed “exemptive relief” requirements, enabling ETF issuers to more easily bring new strategies to market. Earlier this year, Ultimus helped two adviser clients quickly launch active transparent ETFs in accordance with the new rule, positioning clients as among the first to market. See more information here.

“Clients who want to offer ETFs have a tremendous opportunity to enter into a very mature series trust offering, using our proven service infrastructure with a lot of capability and bandwidth, in under 120 days,” says says Kevin Wolf, EVP, Head of Fund Administration and Product.

Ultimus’ expanded ETF services are attractive, in part, because of the firm’s strong, long term and productive partner relationships with the NYSE and more recently, with Blue Tractor. “Over the years we’ve been helping advisers launch ETFs, positioning them for growth, and then servicing their funds with great success,” said Larie Lydick, VP, Head of ETF Product. “During that time, we’ve built incredibly strong, productive relationships with a variety of entities on the street such as the exchanges, the Lead Market Makers (LMMs) and others— as we’ve grown into a leading service provider to issuers of ETFs. These relationships are key factors for getting new products to market and allow us to work effectively with clients.”

Even more importantly, the new semi-transparent ETF offerings also reflect the strengths of Ultimus’ award-winning series trusts. Ultimus was named the number one ‘Multi-Series Trust Provider’ in 2019 by Fund Intelligence, a leading industry publication. Long recognized as a standout in onboarding and servicing, with a sustained commitment to investing in technology and an industry-leading professional staff, Ultimus is applying its successful service model—and all the same capabilities—to the expanded ETF offerings.

“We’re exceptionally skilled in getting people to market quickly and efficiently,” says Kevin Wolf. “We have an abundance of experience in onboarding—whether onboarding within a series trust construct or in standalone structures,” said Wolf. “Then add in the expertise of our boards—with governance, consulting with our adviser-clients, accounting and financial backgrounds—and our size, scale and skill all make us unique as a fund administrator. In addition, we’ve been layering on technology for nearly a decade, including proprietary technology that continues to streamline our processes.”

“Now we’re applying our knowledge, experience and efficient onboarding process to the semi-transparent ETF opportunity,” he continues. “And we are very enthusiastic about supporting our current and our future clients as they expand their product sets with ETFs.”

About 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, New York and Boston, Ultimus employs more than 650 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.

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