Ultimus Plays Pivotal Operations Role in New Age Alpha ETF Launch

Ultimus provides firm a broad array of services

Sep 14, 2021

CINCINNATI, OHIO – September 14, 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 pivotal operations role in the launch of two new ETFs (exchange-traded funds) by asset management firm New Age Alpha. Ultimus had been working with New Age Alpha for more than a year prior to the launch, including supporting the firm’s hedge fund launch in addition to its entire middle office operations.

Based in Rye, New York, New Age Alpha provides the global investment community with ETFs, indexes, SMAs, data and tools. As a newcomer to the ETF space, the firm launched two Avoider ETFs late in 2020: the AVDR US LargeCap Leading ETF (AVDR) and the AVDR US LargeCap ESG ETF (AVDG). Both ETFs track New Age Alpha’s custom indexes which are designed to enhance all investment universes by removing the losers – overpriced stocks caused by human behavior. Following New Age Alpha’s proprietary methodology that employs their actuarial investment measure, the Human Factor, the indexes aim to uncover additional returns and complement investor’s existing US large-cap equity exposures by narrowing the universe to avoid the losers.

The selection of Ultimus to support the New Age launch is reflective of Ultimus’ growth in servicing ETFs in 2020 and experience in ETF support and launches over the past decade. ETFs have been rapidly growing in popularity among investors, advisers, and fund managers, who now routinely add ETFs to their portfolios. Today, more than 2,200 ETFs in the U.S. represent combined assets of more than $5.45 trillion1.

New Age Alpha began working with Ultimus over a year ago, when the firm tapped Ultimus’ broad capabilities to establish middle office operations for its newly formed hedge fund. Based on previous fund administration knowledge while leading the firm Transparent Value, New Age Alpha Co-Founder and CEO Armen Arus knew he wanted services for various types of funds from one provider—something Ultimus offered.

“There is no other firm (for a small company as ours) that provides the breadth of services that Ultimus does in the integrated way it does,” Arus said. “Registered funds, private funds and middle office—and we may be looking at a mutual fund launch and private equity fund in the future, which we’re well-positioned for with Ultimus. The organization is not siloed, which has made it easy for us. Ultimus’ team showed incredible flexibility and adaptability early on when we decided to change strategies mid-stream.”

Ultimus CEO Gary Tenkman says that Armen and New Age Alpha represent a trend in the marketplace—a particular set of needs—that Ultimus is uniquely qualified to address. “We’re seeing more startups launched by successful CEOs like Armen, who’ve come from larger firms and were accustomed to having that kind of infrastructure and access to institutional resources,” he says. “Without that, they need to rely on a partner—ideally, one that is collaborative, provides breadth and depth of sophisticated services, and is committed to investing in technology and talent. The Ultimus service delivery model—a boutique approach combined with institutional strength—made us a perfect fit for New Age Alpha, and we’re looking forward to a long and productive relationship.”

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 Denver, 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.

About New Age Alpha

New Age Alpha is an asset manager that takes existing investment universes and attempts to make them better…by providing ETFs, SMAs and tools that avoid the losers. We re-engineered active stock selection through a systematic and repeatable process that seeks to provide uncorrelated returns without additional risk. https://www.newagealpha.com/

Investors should carefully consider the investment objectives, risks, charges and expenses of the New Age Alpha Funds. This and other important information about the Funds is contained in the prospectus, which can be obtained at www.newagealphaetfs.com or by calling 888-559-7146. The prospectus should be read carefully before investing. The New Age Alpha Funds are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC. Northern Lights Distributors, LLC is not affiliated with New Age Alpha Advisors, LLC.

Important Risk Information

The New Age Alpha Funds involve risks including the possible loss of principal and may not be suitable for all investors. There is no assurance that the fund will achieve its investment objectives. There is no assurance that the Advisor or index methodology will successfully identify and quantify the H Factor methodology risk or which stocks have low or high H Factor Scores. Errors and additional rebalances carried out by the Advisor with respect to the Index may increase the costs and market exposure risk of the Fund. The Fund is not ‘actively’ managed and maintaining investments regardless of market condition could lower Fund performance. Markets and equity securities can decline in value sharply and unpredictably, and in times of severe disruptions you could lose your entire investment.

1 https://www.statista.com/statistics/295632/etf-us-net-assets/ , https://www.statista.com/statistics/350525/number-etfs-usa/

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