Ultimus Fund Solutions has been selected by Topturn Capital to provide comprehensive fund administration and distribution services for the firm's first mutual fund.
The Monterey, California-based alternatives manager launched the fund through the Ultimus Managers Trust, leveraging Ultimus’ administration, distribution and compliance expertise to seamlessly deliver a proven private fund investment strategy to mutual fund investors. Topturn is the latest in a series of hedge fund managers looking to increase their distribution by launching new mutual funds through the Ultimus Managers Trust, the firm’s series trust offering.
“We’re proud of our ability to create customized plans which support the desired growth of each of our clients. Topturn is an innovative manager with an impressive track record, and we’re excited to help them build on that success in the mutual fund arena.”
Ultimus will provide Topturn with a full suite of administration services through the series trust, including: fund accounting, administration, distribution strategy and transfer agent and shareholder services. Ultimus was selected in a competitive evaluation process from among some of the industry's highest profile providers. Topturn pointed to Ultimus' customised distribution strategy and ability to help the firm develop its growth goals as key factors in the decision-making process.
“Successful hedge fund managers like Topturn are seeing opportunities for growth in the mutual fund space, but not all of them have the same needs or fit into the same distribution strategy,” says Dave Carson (pictured), President of Ultimus Managers Trust. “We’re proud of our ability to create customised plans which support the desired growth of each of our clients. Topturn is an innovative manager with an impressive track record, and we’re excited to help them build on that success in the mutual fund arena.”
“Our new mutual fund is central to our growth moving forward, and we needed to be sure that we found a partner that knows our business and won’t try to fit us into a box with their strategy,” says Dan Darchuck, Co-Founder and CEO of Topturn Capital. “Ultimus’ expertise was evident as soon as we started to talk about different ways to develop our distribution footprint, and they made it clear that they were going to make an effort to find the right strategy, not just a strategy. Ultimus is the perfect partner for us as we start this new era of Topturn growth.”
