Red Cedar Investment Management has selected Ultimus Fund Solutions as its fund administrator to launch its new fixed income fund.
The new fixed income fund is part of a standalone proprietary trust and consists of short duration bonds with a focus on securitised products.
Ultimus was selected for its suite of solutions including financial accounting, fund administration, transfer agent, distribution, and a full suite of technology services, according to Red Cedar.
Dave Carson, vice president, director of client strategies at Ultimus, cited: “While the series trust structure makes sense for many advisers as they launch mutual funds, they may not be the best solution for every circumstance.”
“Our goal has always been to help investment advisers operate within a structure that makes sense for their business needs. Red Cedar selected Ultimus for the same reason many of our clients choose us – for our hands-on service and support to grow their initial fund, as well as any additional go-to-market products they may develop in the future,” Carson said.
