Destra Capital Advisors has selected UMB Fund Services (UMBFS) as the new service provider for its series trust, which consists of two mutual funds, the Destra Flaherty & Crumrine Preferred and Income Fund and the Destra Wolverine Dynamic Asset Fund, totaling approximately USD284 million in assets.
UMBFS will provide fund administration, fund accounting, investor services, transfer agency, and custody services for the two funds.
“Destra is thrilled to partner with UMBFS. Their organisation came highly recommended to us by others in the industry, and they have more than lived up to it in our experience. The team at UMBFS is incredibly responsive, and key individuals there have made great recommendations to us about systems, procedures and industry issues that are both improving Destra’s business and improving the services and costs provided to our funds,” says Rob Watson, president of Destra Capital Advisors LLC and each of Destra’s funds.
Earlier in 2018, Destra launched a continuously offered closed-end interval fund with UMBFS, the Destra International & Event-Driven Credit Fund, which now totals approximately USD25 million in assets.
“We are pleased to expand our relationship with Destra to provide services for these two additional funds,” says Maureen Quill (pictured), president of UMBFS. “We look forward to a continued partnership that supports their growth in both the open- and closed-end fund spaces.”
