Ultimus Fund Solutions Chosen by Waycross Partners to Provide Fund Administration Services for New Long/Short Mutual Fund,
Firm launches first mutual fund through Ultimus Managers Trust to help ease operational burden of liquid alts strategy
CINCINNATI, OHIO – MAY 13, 2015 Ultimus Fund Solutions, LLC (Ultimus) announced today that it has been chosen by Waycross Partners, a Louisville-based independent investment manager, to provide fund accounting, transfer agency and shareholder services, plus administration services for its recently launched Waycross Long/Short Equity Fund. Waycross launched the fund through the Ultimus Managers Trust, leveraging the Trust’s team of experienced service providers. Waycross is the latest private fund manager to launch an open-end mutual fund through the Ultimus Managers Trust, reinforcing the Trust’s emerging leadership position in the series trust space.
Ultimus will provide the fund with a full suite of services through the Ultimus Managers Trust including: fund accounting, administration, distribution, transfer agent and shareholder services. Waycross selected Ultimus in a competitive bid process. It cited Ultimus’ depth of experience working with liquid alts – particularly long/short funds – and knowledge of the operational landscape as important factors. Waycross launched its long/short strategy as the firm’s first private fund in 2005, and will be its first product offering in the mutual fund arena.
“More private fund managers are launching mutual funds to capitalize on investor demand for liquid alts strategies,” said Bob Dorsey, Co-Founder and Managing Director at Ultimus. “Liquid alts strategies and long/short strategies in particular require administrative, accounting and compliance expertise. The Ultimus Managers Trust made a lot of sense for Waycross because it has a team of proven service providers with the experience necessary to support their complex strategy. We’re excited to work with them to launch the fund and to grow it with them over the long haul.”
“When we started talking about the best way to launch the Waycross Long/Short Equity Fund in an open-end mutual fund structure while also maintaining our flagship private fund, it quickly became clear that Ultimus was the perfect partner to help us execute,” said Ben Thomas, Founder and Managing Partner of Waycross Partners. “Their experience launching liquid alts funds and expertise as a series trust provider made us feel that our business was in good hands. The Ultimus team was straightforward, advising us on strategy and educating us about some of the more complex issues to make sure that we were all on the same page. We’re excited to work together and look forward to growing our fund with Ultimus.”
About Ultimus Fund Solutions
Ultimus Fund Solutions provides highly customized and comprehensive mutual fund services to small-and medium-sized fund groups. The company offers mutual fund startup and organization services, fund administration, fund accounting, transfer agent and distribution services for both open-end and closed-end funds. Additionally, Ultimus sponsors the Ultimus Managers Trust, which is a series trust offering for bringing mutual funds to market in an efficient and cost-effective manner under an established trust. Ultimus’ broad range of services is performed by teams of CPAs, attorneys, paralegals and other professionals with a wealth of mutual fund experience.
For more information, visit www.ultimusfundsolutions.com.
About Waycross Partners
Founded in 2005, Waycross Partners is an independent investment management firm located in Louisville, Kentucky. The company specializes in managing equity assets for institutional investors and high net worth individuals.
For more information, visit www.waycrosspartners.com.