UMB grows trust size, product offering

Milwaukee-based mutual and hedge fund service provider UMB Fund Services Inc. has grown its Investment Managers Series Trust to more than $3 billion in net assets.

The fund was started at the end of 2007 and reached the $1 billion mark in 2011, after more than three years. But the IMST has grown rapidly since then, surpassing $2 billion in net assets about seven months later.

UMB offers the fund in cooperation with the Mutual Fund Administrative Corporation in California.

The company also announced this month it has expanded its service offerings with a new Alternative Investment Communication Engine, which is used to offer transfer agency services to alternative investment asset managers with registered hedge funds that UMB services in Milwaukee.

The firm has partnered with SunGard to integrate with its platforms and allow for more efficient, automated processing. Clients will also be able to receive automated investor transaction status reports during the day.

“Registered hedge funds are a significant and growing segment of our clientele, so it’s important that we invest in this business and prepare for continued growth,” said Maureen Quill, executive vice president of investor services for UMBFS. “Our collaboration with SunGard has resulted in a dynamic platform that positions us well to provide the outstanding service our clients expect from us.”

“Asset servicers such as UMBFS are seeing more institutional allocations go to alternative investments,” said Mark Judah, senior vice president and managing director of SunGard’s Asset Arena Transfer Agency business unit. “To take advantage of this growth opportunity and stay ahead of demand, they require robust business process and content management solutions that help deliver greater operational efficiency and control.”

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