[ S U R V E Y
|
M U T U A L
F U N D
Up to $100 million
$100 million to $250 million
$250 million to $1 billion
$1 billion to $5 billion
$5 billion to $10 billion
$10 billion to $50 billion
Over $50 billion
N/A
A D M I N I S T R AT I O N]
Ultimus Fund Solutions
Ultimus client size (AuM)
MFA overall client size (AuM)
Ultimus Fund Solutions counts 91 clients for its MFA service, UlSmus client size (AuM)
MFA overall client size (AuM)
covering 215 funds. This is a significant increase on last year,
when it reported 79 clients and 180 funds. The bulk of these
have assets under management of up to $5 billion with the larg-
est in the $10-50 billion category. Having acquired a competitor
firm in December 2015, total AUA has grown to $55 billion plus.
From a results perspective, Ultimus has had an excellent year,
surpassing the survey average in all service areas by between
0.41 and 0.82 points. Year-on-year, it has seen its own category
scores vary little with the exception of Distribution Support,
Up to $100
million
which is slightly down by 0.21 points to a still impressive 6.71.
Up to Up $100
Up to $100
million
to $100 million
million
$100 million to $250 million
$100
million
$250
million
Client comments are multiple and overwhelmingly positive.
$100 million to $250 million
$100 million to
to $250
million
$250 million to $1 billion
$250 million to $1 billion
“Excellent client relationship management,” says one invest-
$250 to
million
to $1 billion
$250 million to $1 billion
$1 billion
$5 billion
$1 billion to $5 billion
ment manager. “I have never worked with a service provider
$1 billion
to $5 billion
billion
$1 billion to to $10
$5 billion
$5
billion
to
$10
$5
billion
billion
with a quality of staff as high as Ultimus in every discipline.” An-
$5 billion
$10 billion
$5 billion to
to $10
billion
$10 billion
to to $50
billion
$10
billion
$50
billion
other lauds “the highest level of professionalism with outstand-
Over $50
billion
$10 billion
to $50 billion
$10
billion
to $50 billion
Over
$50
billion
ing response times.” Such praise is not limited to the smaller
N/A Over $50 billion
N/A Over $50 billion
clients. “They are excellent in managing our very high complex-
N/A
N/A
ity and high volume trading strategies,” says one larger client.
“They are very helpful in relaying what they see happening in
the asset management space.”
Ultimus scores by type of fund managed
MFA overall client size (AuM)
Ultimus itself notes that support for advisers seeking to grow
Equity
Non-equity
All
their mutual fund business through acquisitions has become
increasingly important. “The ability to keep expenses down
Relationship management and client service
6.98
6.87
6.96
and complexity to a minimum while helping advisers navigate
Value delivered
6.90
6.67
6.87
conversions, changes of control, proxy solicitations, fund name
Fund accounting and valuation
6.98
6.80
6.95
changes, etc. is a critical function for an administrator to fulfil
and can serve as a strong differentiator for the firm.” It points
Transfer agency
6.96
6.83
6.95
to its strength in legal administration as a useful resource for
Distribution support
6.98
5.62
6.71
clients needing to merge or re-organise mutual funds.
Fund reporting
6.93
6.90
6.94
In light of its growth, Ultimus has hired a significant num-
Up
to
$100
million
Compliance
6.98
6.97
6.98
ber of new staff in the last year, including multiple hires in
$100 million to $250 million
fund accounting, 1940 Act attorneys, paralegals, transfer agent
Operations
and
custody
6.91
6.82
6.91
$250 million to $1 billion
professionals, and a new chief financial officer. “We view our
$1 billion to $5 billion
6.95
6.69
6.91
professionals, who offer clients access to sought after expertise,
$5 billion to $10 billion
as our most important differentiator and will continue to invest
$10 billion to $50 billion
in talent as our firm grows,” says the firm.
Over $50 billion
Ultimus
N/A overall scores
Ultimus scores versus market average
2017 2016 2015
Weighted share (%) 25.66