Cornerstone Capital selects Ultimus for fund administration
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Cornerstone Capital selects Ultimus for fund administration 13 May 2020Cincinnati Reporter: Maddie Saghir
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Ultimus Fund Solutions, a provider of fund administration, accounting, and investor solutions, has been selected as fund administrator for the Cornerstone Capital Access Impact Fund (CCIIX).
Cornerstone Capital Group is a privately held registered investment adviser based in New York that focuses on sustainable and impact investing through targeted environmental, social and governance (ESG) strategies.
Ultimus was chosen to administer the ESG mutual fund through its Capitol Series Trust. Ultimus is delivering a suite of solutions for the ESG fund including fund administration, compliance, fund accounting, financial administration, transfer agency and distribution support.
According to Erika Karp, founder and CEO of Cornerstone Capital, said: “We created the Access Impact Fund to broaden opportunities for investors to gain access to impact, and have assigned what we believe are the best multi-managers in the business to systematically integrate key ESG factors, underpinned by rigorous research, into their processes and methodologies.”
“Furthermore, we were impressed with the consultative partnership Ultimus employed from the very beginning, as well as the company’s recent demonstration of support for diversity through the addition of two women to this series trust board,” Karp added.
Meanwhile, Matt Miller, president of Capitol Series Trust, commented: “At Ultimus, we are grateful to have the opportunity to work with these thought leaders in the ESG space, and our dedicated team is pleased to assist Cornerstone with the expansion of this unique product in the marketplace.”
Miller continued: “Erika Karp and her team have an outstanding reputation in the ESG industry. We look forward to working with their highly-experienced sub-advisers as they continue investing with a focus on emerging global impact themes.”
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