Ultimus Press Release

Fenimore Asset Management Selects Ultimus Fund Solutions to Provide Services for the FAM Funds

FAM recognizes Ultimus’ expertise and will outsource previous internal functions

CINCINNATI, OHIO – JANUARY 10, 2018Ultimus Fund Solutions®, LLC (Ultimus®), one of the largest independent providers of mutual fund, pooled investment and middle office services, announces that it was recently selected by Fenimore Asset Management (FAM) to provide services for their three mutual funds, with $1.6 billion in net assets. FAM, a Cobleskill, New York based firm, converted the servicing of their funds to Ultimus after performing the functions internally since the inception of the funds in 1987.

FAM hired Ultimus to provide fund administration, fund accounting and financial reporting services for the FAM Funds which include: FAM Value Fund, FAM Equity-Income Fund, and the FAM Small Cap Fund. Ultimus has also been hired by FAM Funds to provide Chief Compliance Officer services to these three funds.

“We have known the team at FAM for many, many years and were delighted when they called us about servicing their funds,” said Bob Dorsey, Ultimus CEO and Managing Director. “FAM is a high quality, boutique investment adviser, and we understand that as such they value highly personalized service. We worked closely with them to customize a service model designed specifically for their needs, one focused on taking on certain day-to-day processes where they receive the benefit of our scale and expertise, while also maintaining flexibility to achieve their service goals. This type of customization creates a unique situation and was ideal for us.”

In making this decision, Thomas Putnam, FAM CEO and Founder commented, “We wanted to ensure that the service provider we selected had the same commitment to high-quality services that we provide to our clients, and basically an extension of our business.” He continued, “We have been in business since 1974, started our first fund in 1987 and have performed these services internally for over thirty years. To outsource, we were looking for a long-term provider with valuable experience and one that could service our funds with the same high quality that our Board and shareholders have come to expect. This partnership with Ultimus has proven to be the right fit, at the right time.”

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About Ultimus Fund Solutions Ultimus Fund Solutions provides highly customized and comprehensive middle and back office services to investment advisers. Ultimus offers service solutions for mutual funds, including fund

organization, fund administration, fund accounting, transfer agent and distribution services for both open- and closed-end funds, plus turnkey solutions for collective investment trusts.

Ultimus’ middle office services, for separately managed accounts and private funds, encompass managing the technology infrastructure and operations to manufacture the data, enabling delivery of detailed reporting to advisers, investors, and regulators. Ultimus’ comprehensive middle and back office services are performed by teams of accountants, attorneys, paralegals and other professionals with a wealth of financial services experience. For more information, visit www.ultimusfundsolutions.com.

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