Accounting Services

>>>Accounting Services
Accounting Services 2019-05-30T02:18:41-05:00

Ultimus offers comprehensive accounting services for hedge funds, endowments, and foundations coupled with a consultative approach to help bring new fund products to market.

Ultimus can calculate your fund’s NAV on a daily, weekly, or monthly basis, depending on your preference and investor demands. We also provide daily services that include trade capture, daily pricing and reporting, and monthly services such as profit/loss allocation and investor reporting. We work directly with your fund’s auditors to complete your year-end audit and create and distribute annual audited financial statements to investors. By outsourcing your hedge fund administration to Ultimus, you’ll receive integration with prime brokers and custodians, as well as access to pricing data sources to obtain independent prices. We also handle verification responsibilities for your fund, such as anti-money laundering checks on all investors, reconciliation of cash and trade positions with prime brokers, and independent pricing of all assets to ensure accuracy.

Through Ultimus, you’re getting full access to an experienced team focused exclusively on the required processes and procedures for your fund. This independent oversight gives your investors’ confidence about the integrity and security of their data and assets. Additionally, outsourced administration improves your ability to grow, as Ultimus has the capacity to handle the extra responsibilities that come with additional assets or funds. It also minimizes multi-prime broker complexity. Using multiple prime brokers to minimize counterparty risk and satisfy investor due diligence requirements can fragment your fund’s assets and trading venues, whereas our reconciliation across all prime brokers minimizes errors.

Ultimus is SSAE18 SOC 1 Type II certified for our alternative fund accounting and administration operations. We undergo this time-consuming certification process with an independent auditor to show we have effective controls and safeguards in place. Additionally, Ultimus has resources and teams dedicated to cybersecurity, disaster recovery, and processing redundancy, ensuring that fund servicing continues even if power or systems fail.

Ultimus’ extensive experience serving fund managers, investment advisers, trading managers, banks, and other fund intermediaries in a multitude of capacities gives us a well-rounded perspective to provide a fully customized and comprehensive fund administration solution.

Specific fund accounting services include:

  • Maintenance of fund books and records

  • Daily capture and reconciliation of trades, positions

  • Daily pricing of portfolio via independent pricing feeds

  • Daily trade break reporting and break management

  • Daily portfolio flash reports on “T” and reconciled reports on “T+1”

  • Daily, weekly, and monthly NAV calculations

  • Calculation of asset-based, management, and incentive fees

  • Trade capture, independent pricing and portfolio reconciliation on a daily basis

  • Month-end portfolio maintenance, independent pricing, and independent reconciliation of manager trade recap to broker data

  • Month-end reconciliation of cash activity, expense verification, and general ledger accounting

  • Month-end economic allocation of profit and loss, expenses, and calculation of fees

  • Monthly NAV reporting package including investor statements

  • Annual fund audit support

  • GAAP audited financial statement and footnote preparation

Let’s Talk

Contact a member of our team.