Ultimus ETF Professionals Help Launch Two New Rule 6c-11 Funds

Clients value administrator’s deep bench of regulatory and ETF capabilities, competitively positioning them as one of the first to market

Mar 03, 2020

CINCINNATI, OHIO – March 3, 2020 Ultimus Fund Solutions® (Ultimus®) is proud to announce that it recently helped two adviser clients launch Active Transparent Exchange-Traded Funds (ETFs) in accordance with new Rule 6c-11 from the Securities and Exchange Commission (SEC), which went into effect on December 23, 2019. As a result of Ultimus’ on-going, rigorous, and proactive approach to fund regulations, the firm promptly supported the launch of these new products, thus positioning clients as among the first to market.

Key benefits of Rule 6c-11 for advisers includes:

  • Reduced Time to Market: The rule provides rescission of Exemptive Relief, allowing most prospective ETF sponsors to operate without seeking exemptive relief, helping accelerate new ETF creation. Previously, advisers seeking exemptive relief were working under longer timelines, in some cases up to six months or more.
  • Reduced Legal Costs: Removal of additional filings helps reduce start-up and first-year legal costs.
  • Enables Custom Baskets: Active ETFs can take advantage of Custom Baskets previously only allowed for Passive ETFs. This could help level the playing field between passive and active ETFs, potentially allowing for further tax efficiencies in custom redemption baskets.

“We are thrilled to help investment managers understand what this new ruling means and to facilitate their bringing product to market faster via Rule 6c-11,” said Larie Lydick, Vice President, Head of ETFs for Ultimus. “Our tenured team of ETF professionals were able to interpret and implement the new regulations quickly and effectively. Our preparedness allowed our clients to be some of the first ETFs to market under Rule 6c-11 – providing them with a valuable competitive advantage.”

“Since 2012, Ultimus has been supporting ETF sponsors and we have seen significant growth in ETF launches, which is a testament to our ability to adapt quickly, as well as the institutional quality of our solutions, and our client-centric approach,” said Kevin Wolf, Executive Vice President, Director of Fund Administration and Product. “Our goal is to always provide investment managers the ability to focus on growing their business by delivering a comprehensive suite of institutional strength offerings, but with boutique client service levels that are disappearing in today’s industry.”

Ultimus also provides a series trust model designed for investment managers of any size who want to start their own mutual funds or ETFs without the complexities and costs associated with organizing a proprietary trust. Operating under Rule 6c-11, a new ETF can be effective in 75 days if registered within one of the Ultimus series trusts. These series trusts are composed of independent funds, all managed by separate investment advisers, and branded and marketed under the adviser’s guidelines (i.e., pursuant to regulatory requirements).


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 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.

Want to Know More?

Interested in learning more about our solutions? We want to hear from you.

Institutional Strength Boutique Service

The Ultimus Group, LLC is an Equal Opportunity Employer. All rights reserved.

DISCLOSURE: Information contained on this website is based on public data, historical agreements and dialogue with intermediaries. Such information represents our current understanding of the described platforms and the costs associated with them. In many cases, such costs may be negotiable. All pricing and fee information is subject to change without notice.

Ultimus Fund Solution

8778 UFS 2/18/2022

Ultimus Fund Solution