[ S U R V E Y
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M U T U A L
F U N D
A D M I N I S T R AT I O N ]
UMB Fund Services
“C
clear that the true differentiators are human beings and human
ustomer service is amazing,” writes a client. “Response
Small
Medium
Large
Equity
values. Perhaps this explains
why
UMB
earns a slightly lower
time is wonderful and UMB divisions all interact with
50%
50% -
100%
score for value (people are expensive) and why the only advice
each other, which helps when directing questions.” Another
clients offer is to increase investment in technology. “The portal
agrees that “the people are very responsive and try to meet our
needs work to integrate the various services they provide,” writes
requests quickly and accurately,” while a third has found UMB
one respondent. But even UMB will not always strike the right
“responsive to requests and will customise reporting to meet
[their] needs.” All of this suggests that the Milwaukee-headquar- balance between people and technology. As another client puts it:
50% holdings is 50%
expensive.”
tered fund administrator is close to achieving its goal of recogni- “The client portal for clients to view their
tion for delivering a uniquely high standard of customer service.
What UMB has not yet achieved is a sufficient number of
PROFILE OF RESPONDENTS
responses to make confident judgments about the quality of the
services the firm provides, so it is not possible to publish
Small average
Medium
Large
Equity
Fixed income
Other
Small
Medium
50%
50% -
100%
50%
50%
scores. However, the scoring by a handful of clients is certainly
By size
By investment
flattering. Hedge and private equity fund managers and funds of
funds, as well as mutual fund managers, are offered a full array
110%
100%
100%
of fund administration services: fund accounting, transfer agen-
90%
80%
cy, reporting, compliance and distribution support. Unusually
Small
70%
60%
50%
50%
for an independent provider, UMB also offers safe custody and
Medium
50%
50%
50%
40%
cash management through the affiliated UMB Bank, n.a.
Large
30%
In an era of glib disquisitions about the revolutionary power of
20%
10%
digital technologies – blockchain, artificial intelligence, machine
0%
Equity
Fixed income
Other
learning, robotics – the leadership of UMB makes it refreshingly
Small
110%
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Medium
100%
Equity
50% 50%
Fixed income Other
Summer 2018
globalcustodian.com
81
Fixed income
50%
Othe