Ultimus Fund Solutions is to provide fund administration services to Indiana-based Canterbury Investment Management as the firm launches its first mutual fund.
Canterbury is a SEC-registered investment adviser firm specialising in providing financial advisers, institutional investors and retirement professionals with ETF management solutions.
The Canterbury Portfolio Thermostat Fund, which launched through the Capitol Series Trust (CST), will bring Canterbury’s portfolio and risk management capabilities to a broader market.
The fund brings Ultimus’ series trust platform, which includes four separate trusts, to 57 funds managed by 38 advisers, as Ultimus continues to expand its role in the series trust market.
As part of CST, Ultimus will provide the fund with a full suite of fund services including fund accounting, administration, distribution, transfer agent and shareholder services.
“Canterbury is a perfect fit for our series trust platform – the firm has an established investment strategy supported by a strong investment team. However, they needed a partner that could assist with product design and also help manage the selling agreement process with the distribution platforms. We knew we could help them focus in on that area,” says Jeff Young, VP director of relationship management at Ultimus.
“During our initial meetings, we realised that Ultimus had expertise and depth in fund design and distribution, making them the clear choice to help us launch our first fund. We are very excited about the launch and very pleased with the consultative approach taken by Ultimus throughout the process,” says Tom Hardin, managing director and chief investment officer at Canterbury. “The professionals at Ultimus have been very supportive in helping us to understand the marketplace as we worked through product design and development. Ultimus moved at our pace and made us feel comfortable with our selection. They have been a great partner thus far and we are very excited to have them with us as we bring our philosophy and strategy to mutual fund investors.”
