Ultimus Fund Solutions has been selected by Chartwell Investment Partners to provide fund administration services for its five mutual funds.
Ultimus and Chartwell started working together in 2005 with The Killen Group and the firm’s three proprietary Berwyn Funds. In 2016, The Killen Group was acquired by TriState Capital Bank and merged into Chartwell Investments.
During the acquisition, the servicing of funds changed providers, however, certain relationships between Chartwell remained in place, leading to the transition of fund administration servicing back to Ultimus.
Mark Seger, managing director and co-CEO of Ultimus Fund Solutions, said: “We are thrilled to re-establish our relationship with our friends at Chartwell, reconnecting to service their funds and expanding our alliance with the additional funds.”
“We have supported them in their growth and are eager to be their business partner as the Chartwell Funds continue to grow.”
Mike Magee, COO of retail division and executive vice president of The Chartwell Funds, added: “The high level of service they provided for us before could not be matched by another administrator."
"Having fund administration with a quality, the in-house legal team at Ultimus along with their high touch, solutions-oriented professionals made this decision to convert easy. It has been a well-managed, smooth conversion process, and this has proved to be a great opportunity for our firm to re-establish our relationship with Ultimus.”
