Ultimus Selected as Transfer Agent Partner for Homestead Funds

Conversion enables mutual fund manager to expand target market.

Feb 22, 2022

CINCINNATI, OHIO – February 22, 2022 – As a leading independent provider of full-service, technology-enhanced fund administration, accounting, and investor solutions, Ultimus Fund Solutions® (Ultimus®) is pleased to announce a new relationship with Arlington, Virginia-based mutual fund company Homestead Funds as the firm’s transfer agent of choice.

Following a comprehensive search, RE Advisers, the $8.4 billion AUM investment adviser of Homestead Funds, transitioned its fund family of ten mutual funds from the previous provider to Ultimus. Homestead Funds represents over 42,000 shareholder accounts.

Technology played a considerable role in Homestead Funds’ decision, notably because of Ultimus’ uTRANSACT™ product. uTRANSACT is an advanced digital portal that provides real-time information and account access for both shareholders and advisers. Just as importantly, it offers a digital asset allocation tool that allows investors the ability to customize their own asset allocation models. As Ultimus continues to make investments in its digital platform uTRANSACT, it is transforming the way investment management firms can engage their shareholders with more enhanced digital tools.

Mark Santero, President, and CEO at Homestead Funds said: “Ultimus’ technology platforms fit our needs for a front-end asset allocation tool. With Ultimus, what started as a conversation about traditional transfer agent services led to discovering tech offerings that will enable us to grow our business through various channels while servicing our unique shareholder requirements. We offer a broad spectrum of investment products for a very defined and specific set of shareholders, and with this digital asset allocation technology, it will help us to expand with more direct services to a broader audience.”

Beth Civerolo, Director of Mutual Fund Operations and Registered Principal at Homestead Funds added: “In addition to their proprietary technology, Ultimus proved to be a transparent and collaborative partner. The extensive conversations we had with their executive leaders and teams of associates during the search process allowed us to evaluate the level of compliance and controls we could expect in day-to-day operations. Homestead Funds services a large client base, which means this conversion isn’t as simple as cutting and pasting into a new system. It’s a complex process but we were supported by the Ultimus team at every step. We highly value this hands-on approach in establishing new vendor relationships.”

Homestead Funds is a mutual fund manager with roots in rural America, originally formed over 30 years ago to invest on behalf of community electric cooperatives and their members. Across market cycles, the firm has grown in size and scope, gaining recognition through an array of mutual funds. Homestead Funds strives to harness the ideals of integrity, commitment, and collaboration to develop personalized investment strategies while offering shareholders the resources, education, and support needed to help build the bright financial futures they deserve.

“We are excited for this opportunity to work with a unique organization like Homestead Funds,” said Ultimus Executive Vice President, Chief Administrative Officer Ian Martin. “Homestead Funds has a sizeable concentration of direct shareholders which presents a unique set of requirements, scale and expertise. Ultimus is perfectly positioned to service these types of forward-thinking firms since our existing technology can be customized without compromising the underlying architecture of traditional TA services. With our uTRANSACT technology, we look forward to partnering to support Homestead’s entry into new markets while enhancing their current shareholders’ servicing experience.”

Summarizing the current trends, Martin also noted, “Investment managers and fund families are positioning themselves to deliver an enhanced shareholder servicing model while expanding their digital presence. With the continued rise in distribution costs for funds, leveraging modern technology in transfer agent and shareholders services is critical to their ability to compete for new growth. However, many are finding legacy systems aren’t flexible or adaptable to bolt on new tools or applications. That’s where Ultimus shines. Our proprietary technology is built to be customizable, flexible and easily adaptable into the future.”

About Ultimus

Ultimus Fund Solutions 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 825 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,600 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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