Many investment managers, particularly those who are looking to establish a family of funds, find that a separate legal entity, such as a standalone trust (also known as proprietary trust), best fits their needs. While a standalone trust may cost more initially because of the additional formation costs, it may provide greater flexibility long term.
With standalone trusts, investment managers are very involved in the selection of the initial board of trustees and fund officers, and play a key role in negotiating contracts with professional service providers such as fund counsel, auditor and custodian. Deciding between the series trust model and the standalone trust model is an important decision that we can help you work through. Regardless of your selection, Ultimus will be there for you throughout the process. To start a mutual fund, contact us now.