Ultimus Experiences Firm-Wide Growth, Boosting AUA over $500B

Growth attributed to talented professionals delivering technology enabled award-winning services


CINCINNATI, Jan. 16, 2024 (GLOBE NEWSWIRE) -- The Ultimus Group (Ultimus®), as a leading independent provider of full-service, technology-enhanced fund administration, accounting, and investor solutions, experienced continued strong growth in 2023 across the firm’s business, including new clients requesting services for private funds, exchange-traded funds, retail alternative funds, middle office operations, treasury and transfer agency services, boosting Ultimus’ assets under administration to over $500 billion.

Much of this growth comes from asset managers who were seeking a fund administrator with exceptional service capabilities, advanced technology, and experienced industry professionals. In addition, many of the firm’s existing asset management clients have also been launching new funds and amending service agreements to include additional services.

Gary Tenkman, Ultimus Chief Executive Officer, comments on the firm’s ability to consistently provide high level customer service throughout Ultimus’ growth phases stating, “Ultimus’ hyper-sensitive focus on delivering high-quality client service enhances our ability to successfully differentiate ourselves from our competitors. Our continued growth allows us to consistently invest in technology and experienced talent, positioning the firm for continued and sustainable growth in the future.”

Ultimus’ success may be accredited to not only its consistent delivery of client centric solutions, which provides those clients a much more efficient operating environment along with a “white glove” service experience. Ultimus has also consistently provided an organized and methodical project management process, subsequently resulting in seamless conversions from other service providers as well as guiding clients as they look to launch new or additional products.

Ultimus LeverPoint Private Fund Solutions’ President, Jim Cass, explains the growth from his perspective saying, "I admire the team's dedication to enhancing service for current clients and expanding our market reach. We're committed to ongoing growth, staying proactive, and adapting to market changes, as our clients' success is synonymous with our own."

Ultimus focuses on providing registered and private fund managers with optionality for their fund administration and middle office needs. The firm’s comprehensive, flexible service model and dynamic technology strategy of utilizing robotic process automation and API interfaces allow asset management firms to manage their overall business efficiently and effectively. In a recent fund conversion from another service provider to Ultimus, a new client stated “The conversion itself felt seamless. We were pleasantly surprised by how smoothly the transition of the fund went, positively exceeding our expectations.”

Along with the steady growth of adding new clients, Ultimus continues to invest in resources with over 1,000 U.S.-based associates at the firm today. In recent years, Ultimus has attracted many industry-leading professionals who sought a more dynamic and forward-thinking organization. Ultimus has emerged as a preferred choice for professionals seeking an innovative organization that is solely focused on the fund administration industry and challenges the conventional mindset.

Contributing to the influx of new business, Ultimus has a known reputation for award-winning client service and award-winning technology applications. Ultimus recently won Best ETF Administrator award, Best Private Equity Fund Administrator award and Best Mutual Fund Administrator award from Global Custodian.

Executive Vice President and Chief Administrative Officer, Ian Martin, highlights Ultimus’ competitive advantages by stating, “Being an independent firm with no competing priorities outside of the Fund Administration space allows us to focus 100% of our company talent, resources, and technology investments directly into adding value for our clients and their investors. This is a significant competitive advantage for Ultimus. The recent new business growth, client testimonials and industry accolades are confirmation of our commitment to provide industry leading service.”

In its continued commitment, Ultimus’ priority is investments in innovative technology that can help asset managers optimize their operations while lowering their total cost of ownership in managing their business. As an example, Ultimus received Best Data Management Solution for Back & Middle Office award earlier this year for its uANALYZE™ application, a flexible and secure dashboard to help asset managers utilize and visualize critical investment data more efficiently and effectively. Ultimus also recently received the NICSA NOVA Operational Excellence award during the NICSA General Membership Meeting. This award is a result of the firm’s uFILE, an internally developed application to resolve a manual process that was extremely challenging for a client prior to converting to Ultimus.

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, Denver, Philadelphia, and Omaha, Ultimus employs more than 1,000 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.

Ultimus LeverPoint Private Fund Solutions is a leading fund administrator committed to providing a complete spectrum of solutions to private equity, venture capital, real estate, and hedge fund clients. Providing accounting and fund administration solutions to nearly 220 firms and more than $230B in AUA, Ultimus LeverPoint represents a diverse range of alternative fund types and structures.

Whether outsourcing a new fund or transitioning existing funds, Ultimus LeverPoint serves as a seamless extension of your firm – a partner in growth. From traditional to complex structures, our team of over 425 associates provides operational excellence to meet every need and is dedicated to helping investment managers keep pace with the constantly changing regulatory and market demands while providing quick solutions to new challenges. For more information, visit www.ultimusleverpoint.com.

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