Fund Accounting

Fund Accounting 2019-07-02T20:10:52-04:00

Ultimus’ experience as an administrator has afforded us the opportunity to become one of the industry’s most capable providers of services for pooled investment funds. We deliver accurate and efficient fund accounting services by utilizing a multi-tiered review process and by offering open architecture systems that allow for interfacing with advisers, custodians, transfer agents, pricing, and corporate action service providers. Ultimus’ accounting professionals work in an environment of strong internal controls to ensure high quality, extensive, and reliable personal service. Our comprehensive fund accounting operational procedures and controls have contributed to consistently clean annual SOC1 audits.

Ultimus’ technology, infrastructure, control environment, and experience can handle any type of strategy, and we service a huge variety of fund types across a multitude of structures with sophisticated reporting needs. As a result, our organization makes significant investments in systems and processes, inclusive of management committees that review risks, vendors, pricing information for valuations, and performance metrics.

Our fund accounting department’s core duties include providing NAV calculations for all portfolios and funds that price daily, as well as cash forecasting and corporate action processing.

Registered Fund Accounting Services
  • Daily portfolio valuation

  • Online integrated general ledger

  • Expense accrual processing

  • Automated corporate action interface

  • Automated pricing interfaces

  • Daily communication interfaces to NASDAQ

  • Multiple sell selection methods for tax lot accounting

  • Automated portfolio data warehouse for performance calculations, data fees, and portfolio analytics

  • Online access to fund accounting reports

  • Daily cash projections

  • Client system interfaces

  • Business recovery resources

  • Daily cash forecast reporting

  • Automated daily custody reconciliation

Ultimus’ accounting services unique to ETFs:

  • Processing of daily Portfolio Composition File (PCF)

  • Oversight of create/redeem files as needed

  • Custom files prepared for TA partner to submit to National Securities Clearing Corporation (NSCC)

Technology

Ultimus’ flexible systems are built to interface with a multitude of advisers, custodians, transfer agents, pricing, and corporate action service providers.

Ultimus uses Asset Arena InvestOne from FIS (“InvestOne”) as our fund accounting and reporting system, which is supported by a team of developers and business analysts that provide proprietary reporting and interfacing services for our clients. This provides us with a fully integrated solution that controls and monitors your fund with the help of advanced reporting features and compliance functionalities, such as exceptions management. Critical information regarding daily fund performance is at your fingertips with customized reports and data tailored to meet your needs. InvestOne offers more than 300 standard reports, as well as report customization tools and the ability to manage all types of funds on a single database. We also use FIS Asset Arena Control Center, which interfaces with InvestOne, as an operational management and monitoring workflow tool that provides a centralized view of fund accounting activity. We use the Unity™ platform from Confluence Technologies to calculate the performance and after-tax returns of mutual funds, and to support the preparation of financial statements.

Team Structure

Ultimus delivers accurate and efficient fund accounting services by utilizing a multi-tiered review process. Ultimately, fund accountants are responsible for an entire fund; however, some processes may be completed by specialized pricing control and reconciliation teams. Our pricing control team completes corporate actions, security master set ups, and a preliminary pricing review on equity and option securities. Our reconciliation team completes most complex broker reconciliation and reviews and/or provides oversight for all other fund accounting teams’ asset and cash reconciliation work.

Additionally, our fully-functional fund accounting offices in New York, Ohio, and Nebraska provide for immediate disaster recovery to ensure the continuation of service at all times.

Contact us to learn more about our fund administration and accounting services, as well as our specialized team approach.

Let’s Talk

Contact a member of our team.