Ultimus Fund Solutions is to provide comprehensive fund administration services to Memphis, Tennessee- based Preserver Partners, (Preserver) as the firm launches its first mutual fund.
Preserver is an SEC-registered alternative asset management firm managing funds for public and corporate pension plans, corporations, foundations and individual investors. The Preserver Alternative Opportunities Fund, which launched through the Capitol Series Trust (CST) platform, is designed to bring Preserver’s primary strategy to a broader market. The Fund brings Ultimus’ series trust platform to more than 55 funds from 36 advisors, as Ultimus continues to expand its role in the series trust market.
As part of the CST offering, Ultimus will provide the Fund with a full suite of fund services including: fund accounting, administration, distribution strategy, transfer agent and shareholder services. Preserver selected CST after completing its due diligence and having confidence in its team’s ability to provide comprehensive support for their liquid alternative strategy. Preserver looked for a partner with a proven track record in the ’40 Act space and a reputation for providing a high level of compliance service within its series trust platform.
“Preserver has a proven investment strategy with strong performance, but they wanted a service provider that would handle everything in the back office so they could focus on their investment and marketing functions,” says Jeff Young, VP, Director of Relationship Management at Ultimus. “During their due diligence meetings, Preserver discovered that Ultimus has a great amount of regulatory experience in the liquid alternative fund space, making the firm at ease that their Fund was in the right hands. At Ultimus, we work hard to put each of our clients in a position to succeed, and we’re excited about our partnership with Preserver.”
“We are very excited to launch the Fund and delighted with the effort put forth by Ultimus throughout the process, giving us great confidence in their ability going forward,” says Dana Pointer, COO & CCO at Preserver. “Our liquid alternative strategy is fundamental to our business. Ultimus understands that and has the expertise to help us grow beyond our private funds. They understand what we’re trying to accomplish, which makes for a great partnership for our new mutual fund. We’re excited to see what the future holds.”