Current Status on the Tax Cuts & Jobs Act Impact to Mutual Funds

Apr 25, 2018 10:00:00 AM  |  Tax

Tax considerations are an important aspect of fund accounting, financial reporting and portfolio management for investment firms and investment advisers, and can have significant negative effects on the performance of funds if not addressed in a timely or appropriate manner. Therefore, we are taking the opportunity to provide a status report on the Tax Cuts & Jobs Act (the “Act”) and issues related to the Act affecting our industry.

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Breaking Down Breaking Even in Mutual Fund Operations

Apr 4, 2018 9:33:45 AM  |  Breaking Even , Mutual Fund

Early in the process of an investment firm contemplating starting a mutual fund, whether from scratch or by converting assets from another product, such as a SMA or private fund, the question of “break even” is almost certainly asked. Investment managers want to know when their investment in the operating costs of a mutual fund will pay dividends toward their own bottom line. What on the face seems like a simple question actually gives rise to many factors that need to be considered. But first, we need to address what does it mean to “break even”?

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FINRA 2018 Regulatory and Exam Priorities

Mar 20, 2018 10:00:00 AM  |  Compliance

A Condensed Digest for Investment Advisers

In January 2018, the Financial Industry Regulatory Authority (FINRA) published its annual Regulatory and Examination Priorities Letter, which identifies the topics that FINRA will focus on in the coming year.  The Priorities Letter, along with FINRA’s 2017 Examination Findings Report, serves as a resource for broker-dealers to enhance their compliance, supervisory and risk management programs and to prepare for their FINRA examination. Among the topics identified in the letter as areas of focus in 2018 are fraud, high-risk firms and brokers, operational and financial risks – including technology governance and cybersecurity – and market regulation.

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An SEC Office Shares Exam Findings – Key Insights for Compliance Officers

Mar 6, 2018 10:00:00 AM  |  Compliance

The Fort Worth, Texas regional office of the SEC held a teleconference call in January this year to discuss some of the office’s 2017 exam findings as well as other areas of focus. This was a first-of-its-kind call with registered investment advisers in the region with the purpose of increasing transparency and communication. Even though this was a regional office of the SEC providing outreach and insights, the topics presented are applicable to all registered investment advisers. Following are some of the main points discussed on the call, along with key takeaways.

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Bitcoin – RIC Buyers Beware of Potential Tax Traps

Feb 6, 2018 10:00:00 AM  |  Bitcoin

We have all seen the headlines and read some articles related to Bitcoin. What was once an obscure concept on the periphery has now transformed into a digital gold rush. The wild fluctuations in Bitcoin values has piqued both investor and regulatory interest.

The interest in Bitcoin was heightened on December 1, 2017, when the Commodities Future Trading Commission (CFTC) allowed CME Group, Inc. and CBOE Global Markets, Inc. to list Bitcoin futures contracts. The decision by the CFTC seemed to provide legitimacy to Bitcoin from an investor perspective...

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A Mutual Fund Structure Whose Time Has Come? Let’s talk about Interval Funds

Jan 23, 2018 10:00:00 AM  |  Interval Funds

[Dave Carson, Director of Client Strategies, recently spoke with Bill Hortz, Dean of the Institute for Innovation Development, to discuss his perspective on the growing interest in interval funds. Is the investment product inherently a negative (a more expensive, restrictive mutual fund) - or a positive (a more liquid, less expensive alternative product)? Read the full article to learn more about an interval fund’s structure and the value it can offer for investment advisers.]

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Ultimus' Top Blog Posts of 2017

Jan 9, 2018 10:31:38 AM  |  Top Blogs

In 2017 Ultimus launched a blog, publishing educational and insightful information every two weeks to help investment advisers manage various aspects of their firm. Written by internal subject matter experts at Ultimus, the blog posts cover current industry topics including mutual fund distribution, marketing, compliance, middle office and fund operations, industry trends and more. In case you missed the posts, we've gathered the six most popular ones in 2017 for you.

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Soaring Across the Big Blue Yonder Known as Blue Sky Laws

Dec 12, 2017 12:01:06 PM  |  Blue Sky

As an investment manager of mutual funds, have you ever dealt with the complexities of Blue Sky laws which are laws intended to protect investors from securities fraud? More specifically, have you dealt with not knowing how, when or where to register mutual fund shares? Add to that mix the complex federal securities laws and regulations, FINRA regulations, and other regulators, this can result in unnecessary headaches. The highly regulated mutual fund industry can make it difficult to maneuver through the individual state laws of Blue Sky. 

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Conversion Considerations for Investment Managers – 5 Reasons to Convert from a Private Fund to a Mutual Fund Today

Nov 14, 2017 9:30:00 AM  |  Liquid Alts , '40 Act

Has the idea of converting a private fund into a mutual fund ever crossed your mind? Or, are you worried that there are too many complexities involved in a conversion? The decision for investment advisers to convert a private fund to a mutual fund doesn’t have to be difficult. The choice to do a conversion is dependent upon what you, as the adviser, want to accomplish, what your investors expect from their investment and whether your strategy will work in a mutual fund structure.  

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New Services to Support Mutual Fund Distribution

Oct 31, 2017 10:30:00 AM  |  Mutual Fund Distribution

[Kevin Guerette, Director of Distribution Strategies for Ultimus Fund Solutions, recently sat down with Bill Hortz, Dean of the Institute for Innovation Development. Having launched the Ultimus Distribution Advantage Program exclusively for clients earlier this year, Hortz asked Guerette to share details on the new support services and his perspective on the changing landscape in mutual fund distribution.]

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