Ultimus Named Transfer Agent Administrator for Parnassus Investments

Transaction amplifies Ultimus’ prominence in technology and shareholder services

Jun 08, 2021

CINCINNATI, OHIO – June 8, 2021 Ultimus Fund Solutions® (Ultimus®), a leading independent, tech-enabled provider of full-service fund administration, accounting, and investor solutions, is pleased to announce its selection as Transfer Agent for Parnassus Investments, a San Francisco based, $41.7B fund family as of May 31, 2021.

In addition to Ultimus providing transfer agency administration, Parnassus’ shareholders will be able to easily access their accounts through Ultimus’ proprietary uTRANSACTTM platform. This advanced digital portal provides real-time information and account access for both shareholders and advisers and is part of Ultimus’ uSUITE® technology applications. The exclusive uTRANSACT portal is a key offering of the firm’s Shareholder Services and Transfer Agent services. As part of the transition of transfer agent services to Ultimus, over 300,000 Parnassus shareholder accounts were converted to Ultimus’ transfer agent system.

Parnassus, an investment management company, focuses on building wealth by investing in companies that have a positive impact on society through strong environmental, social and corporate governance (ESG) practices. Ultimus’ clients currently include numerous firms that emphasize values-based investment strategies, such as ESG, SRI and Impact investing in addition to those whom take a faith-based approach to investing.

For Parnassus, a mutual commitment to shareholders was a key factor in selecting Ultimus as a partner. “From the beginning, we were impressed with Ultimus’ approach to taking care of shareholders,” says Marc Mahon, Chief Operating Officer for Parnassus. “The quality of the services, the technology that drives them—it was obvious to us that Ultimus not only has a real passion for shareholders but they also have deep experience in working with ESG-driven investors.”

“At the same time, it was also important to us to be able to leverage Ultimus’ technology suite—to more fully integrate and automate our processes and maintain institutional types of controls,” Mahon continues. “Ultimus provides all of this and as our partner, puts Parnassus in a stronger position to achieve our vision for the future.”

Ian Martin, EVP, Chief Administrative Officer for Ultimus, concurs. “The Ultimus and Parnassus cultures are very compatible, and both firms place a high value on servicing shareholders,” he says. “It is especially gratifying for us when a firm like Parnassus that has been providing shareholder services internally, decides to move that responsibility to us. It demonstrates a very high level of trust, which we take very seriously. We are extremely excited to begin our shared journey in partnership with Parnassus and look forward to a long and productive relationship.”

In just over the past year, while in a remote working environment, this is the twelfth firm that has selected and converted to Ultimus as its Transfer Agent, adding approximately $100B in AUA Ultimus’ book of business. As a result, Ultimus experienced more TA conversions in this timeframe than any other service provider in the industry.

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 700 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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