Ultimus’ collaborative approach allows us to tailor a service package to meet your specific needs. We can provide services ranging from standard month-end or quarter-end reporting all the way to a fully-loaded daily NAV calculation with daily liquidity. In addition, we provide options to help managers of all sizes, including shadow accounting with daily full reconciliations and portfolio reporting and a front-end application that provides you a near real-time view of your trading portfolio. Since we understand that one size does not fit all, we allow you to choose the service package that fits your needs and provides flexibility to grow as your fund does.
Specific services for your hedge fund, endowment, or foundation include:
Ultimus offers comprehensive accounting services for hedge funds, 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.
Outsourced administration improves your fund’s ability to grow, as Ultimus has the capacity to handle the extra responsibilities that come with additional assets or funds. 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.
Ultimus’ audit and tax management services include:
- Interaction with the fund’s independent accounting and tax firms
- Audit coordination and support
When you choose Ultimus for administration of your hedge fund, we will work with your audit firm to determine timing and complete requirements for items on the Prepared by Client (PBC) list for an audit. From there, we will prepare all required schedules and create and distribute confirmation letters. As needed, we explain financial transactions and consult with the audit team to help ensure the audit is completed timely.
Tax Preparation Assistance
Generally, it is most efficient to have your fund’s CPA firm also prepare the K-1 forms and state and federal tax returns for your fund. However, we will work closely with your tax provider to provide the necessary economic information and data.
- Proper classification of asset and liability accounts
- Class disclosures and share/series roll-forwards
- Specific disclosure and classification requirements for the schedule of investments
- Creation of a cash flow statement in proper format based on trading activities
- Complex footnote disclosures
- Financial highlight calculations
Our portfolio and risk management systems also help measure and communicate potential risks that can impact operations at the portfolio level. Our reporting systems supply quantitative information to help private equity, venture capital, and real estate fund managers evaluate and implement strategic choices for their fund activity.
This includes, but is not limited to:
- Real-time profit & loss computations
- Granular detail of portfolio positions
- Scenario analysis and stress testing
- Portfolio optimization
- Full suite of risk analysis
Ultimus’ portfolio and risk management platform is designed to provide full integration between your front and back office.
We utilize some of the industry’s most current, versatile technology platforms, including:
- Portfolio and risk monitoring and scenario analysis systems
- Portfolio accounting systems that support all asset classes
- General Ledger based accounting systems that support partnership and shareholder-based accounting for private funds
- Online web portal for fund manager and investor reporting.
Ultimus will perform all banking and transfer activities for your fund while giving you the final approval for all disbursements. As with all other aspects of our operation, a series of process-driven internal controls provide accuracy and timeliness. We work with a large number of banks to ensure the right fit for you.
Ultimus’ treasury services include:
- Fund expense payments
- Line of credit (LOC)
- Distribution payments
- Bank account setup
- Investor capital contributions
- Bank reconciliations
- And more