Ultimus Fund Solutions is to provide fund administration services to Miles Capital liquid alternatives mutual fund, the Miles Capital Alternative Advantage Fund.
Based in Des Moines, Iowa, as an independent asset management firm managing nearly USD4.5 billion in traditional and nontraditional assets for clients, Miles selected the Unified Series Trust (UST) as its platform to gain operational efficiencies and expand its alternative investment solutions beyond its existing SMA business. Miles is the latest alternatives manager to select the Ultimus team for administration, fund accounting, transfer agency, compliance and distribution services through its turnkey multi-series trust structures, solidifying Ultimus as a leader in assisting boutique investment managers in the mutual fund launch process.
Miles selected the Ultimus team after a lengthy due diligence search, citing the firm’s commitment to being a trusted business partner as well is its consultative approach to the design and distribution of the Fund as major factors. As part of the business relationship Ultimus is helping Miles by providing distribution strategy consultation for its Fund.
“Miles has a strong history with insurance companies, foundations and endowments, and wanted to provide another option for investing in their alternatives solutions, through this mutual fund, with a partner that understands their business,” says Dave Carson, President of UST. “Our partnership approach created an excellent foundation that will be strong today and in the future, as Miles executes its initiative and growth plans. We're excited to help Miles achieve its business goals.”
“We selected the team at Ultimus due to their depth of experience with liquid alts funds and their consultative approach by providing good advice and counsel for our distribution strategy. It is evident that Ultimus firmly wants to see this Fund succeed, like a committed business partner,” says Steve S Stotts, Director of Alternative Markets Solutions & Lead Portfolio Manager of the Miles Capital Fund. “At Miles, our philosophy is to be a true partner with our clients and that’s the same approach that Ultimus is taking with us. They clearly understand where we want to go with our business and how to strategically distribute the Fund to help us reach our goals. We’re excited to see how our Fund grows, and happy to have Ultimus as a partner.”
