Commingled Vehicles

Ultimus offers a fully-integrated process to launch and distribute funds on insurance platforms, which are very similar to traditional mutual funds. However, there are fewer funds available through insurance platforms than there are in the broad mutual fund landscape. Investors selecting funds for their variable annuity or variable life insurance policies can only choose from those available on the insurance company’s platform, thus potentially providing a captive audience for the funds available. Therefore, a variable insurance fund can be an attractive channel for investment companies to consider.

Key Differences Between a Variable Insurance Fund and a Traditional Mutual Fund:

• A fund inside an insurance wrapper has slightly different diversification requirements than a mutual fund.
• Variable Insurance Funds are required to have the same year-end close date as the associated insurance carrier.
• Because insurance companies are participating in the sales and marketing of funds on their platforms, the 12b-1 fees for these funds are usually higher.
• To stay competitive with other funds on these platforms, Variable Insurance Fund management fees and expense limitations are typically lower.

Contact us to learn more or click here to read about our services for registered funds, including variable annuity trusts.

These closed-end funds are a hybrid of hedge funds and mutual funds. They are registered under the Investment Company Act of 1940 but have many characteristics in common with private funds. Ultimus provides operational expertise and outsourcing services necessary to support non-exchange traded closed-end fund structures. Specifically, we:

• Prepare and file registration statements
• Coordinate board meetings
• Provide periodic NAV calculations
• Reconcile cash and positions
• Conduct expense accrual analysis
• Produce quarterly financial statements
• Assist auditors with annual audit
• Assist with regulatory filings
• Provide unit-holder servicing and reporting
• Provide Chief Compliance Officer (CCO) and compliance reporting and support

Contact us to learn more or click here to read about our services for registered funds, including interval and tender offer funds.

Is an Interval or Tender Offer Fund right for your for your strategy? Learn more.

Collective Investment Trusts are pooled investment products that offer a lower cost alternative to mutual funds to expand your services into the defined contribution and defined benefit arena. Compared to mutual funds, Collective Investment Trusts also have fewer regulatory and infrastructure requirements—for example, they are governed by state law rather than requiring SEC registration. Ultimus supports many CIT Funds by providing a complete turnkey solution for investment managers that includes:

• Trusteeship (via a partner trust company)
• Administration
• Accounting
• Custody (via a partner trust company)
• Transfer Agency

Adviser Benefits

• Multiple accounts combined and managed under a defined investment strategy similar to a mutual fund
• Fewer regulatory requirements than mutual funds
• Trustee services provided through a partner dedicated to CITs
• Enhanced fee customization relative to mutual funds
• Infrastructure for mutual funds supporting your CITs
• Distribution support provided which is generally not offered by other CIT administrators

Investor Benefits

The streamlined nature of a CIT plus its economies of scale means your investors may enjoy:

• Lower expenses from the pooling of assets
• Lower underlying CIT fund expenses compared to mutual funds
• Access to investment management firms that may not offer their strategies in a mutual fund

Contact us to learn more or click here to read about our services for registered funds, including collective investment trusts.

Ultimus services Business Development Companies (BDCs) and Exchange-traded Closed End Funds through these fund administration and accounting, fund compliance, and reporting services:

• Preparation and filing of registration statements
• Coordination of board meetings
• Daily, weekly, or monthly NAV calculations
• Reconcile cash and positions
• Expense accrual analysis
• Produce quarterly financial statements
• Assist auditors with annual audit
• Assist with regulatory filings
• Reporting for rating agencies
• Compliance reporting and support

Contact us to learn more or click here to read about our services for registered funds.

Employee Securities Companies (ESCs) are very similar to open end mutual funds, with access limited to employees of the sponsoring employer and their families. Ultimus provides a service package similar to our mutual fund offering. Please click below to see our complete offering of those services:

Registered fund services

Contact us to learn more.