Ultimus Becomes New Administrator for North Square Investments

Firm assists North Square in successfully converting 12 mutual funds and creating a new trust structure


CINCINNATI, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Ultimus Fund Solutions® (Ultimus®), a leading independent provider of full-service, technology-enhanced fund administration, accounting, and investor solutions, is proud to announce it is the newly selected fund administrator for North Square Investments. The multi-boutique asset management firm, dedicated to differentiated active investment strategies, selected Ultimus as its new fund administrator to leverage Ultimus’ comprehensive service model built on leading technology.

One of North Square’s goals was to re-organize its trust into a shared governance model, allowing more fund groups to participate in the new trust, improving their total cost of ownership while benefiting from an overall improved shareholder experience. Ultimus’ experience and expertise in these types of transitions, deep knowledge, and flexibility played a pivotal role in making this new trust structure possible, enabling North Square to adapt and become more efficient and competitive in the market.

As part of the mandate, North Square transitioned 12 mutual funds to Ultimus who is now providing full-service fund accounting, fund administration, transfer agency, shareholder servicing, distribution and compliance services across the funds. Ultimus’ depth of experience, high-touch client service model, and detailed approach to managing the many components of this conversion attracted North Square to select them as its new administrator. Ultimus worked very closely with North Square’s team early on to ensure they got a clear understanding of North Square’s goals and fund nuances. This allowed the teams to develop and execute a project plan which streamlined the transition process and allowed North Square to reach its goals for this complex project.

Mark Goodwin, North Square CEO, emphasizes how extremely pleased he was with the overall process and Ultimus’ flexibility in helping North Square actualize its goals. “The overall project and conversion of our 12 mutual funds went extremely well, and I’m continually impressed with the depth of knowledge and the experience that the Ultimus team demonstrated. We are grateful for the partnership we have created, and we look forward to continuing to grow together.”

Gary Tenkman, Ultimus’ Chief Executive Officer, appreciates the new partnership with North Square and praises Ultimus’ ability to tackle varying client goals. “We continue to see managers evaluate their operating models as they position themselves for future growth while at the same time wanting to optimize their overall total cost of ownership. There is a growing number of firms evaluating the benefits of re-organizing out of a legacy stand-alone trust, or other series trust models and Ultimus has a history of delivering on a structure which works best for each client. No matter the client's objective, I am confident in the Ultimus team’s ability to determine a solution tailored to our diverse clientele's specific needs.”

Since Q2 of 2020, 35 investment managers have converted, or are in the process of converting, their back and middle office services to Ultimus from other service providers or in-house operations. This continuous stream of new business is due in large part to the firm’s award-winning service, which combines an innovative technology approach with personalized service based on the unique needs of each individual client.

About Ultimus

Ultimus Fund Solutions (Ultimus) is a leading provider of full-service tech-enhanced fund administration, accounting, middle office, and investor solutions to support the launching and servicing of registered funds, private funds, and public plans. The company also offers customized structures designed for the unique needs of pensions, endowments, foundations, and other large institutions. Ultimus’ deep commitment to excellence is achieved through investments in best-in-class technology, compliance programs, organization-wide cyber security efforts, and hiring seasoned professionals.

Headquartered in Cincinnati, Ohio with offices in other major cities such as New York, Philadelphia, Denver, and Omaha, Ultimus employs more than 975 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,800 total traditional and alternative funds, Ultimus helps investment managers and fund families flourish in today’s increasingly sophisticated and dynamic investment landscape. For more information, visit www.ultimusfundsolutions.com.

About North Square

Founded in 2018 and headquartered in Chicago, IL, North Square Investments is an independent, multi-boutique investment firm dedicated to delivering differentiated active investment strategies to the market. With an experienced senior management team, a board composed of industry veterans including John Amboian, Neil Cummins and Brian Gaffney, and backed by Estancia Capital Partners, North Square is a leader in aggregating best-in-class active managers and delivering select, in-demand investment strategies to financial intermediary partners for the benefit of their clients. Learn more about North Square Investments at northsquareinvest.com.

17295943 8/21/2023



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