UMB Fund Services partners with Alternative Fund Advisors
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UMB Fund Services partners with Alternative Fund Advisors 19 August 2021US Reporter: Maddie Saghir
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UMB Fund Services has been selected to provide fund accounting, tax reporting and fund administration services for Alternative Fund Advisors (AFA), while UMB Bank will provide custody services.
As part of the new partnership, UMB will service the AFA Multi-Manager Credit Fund, AFA’s first registered closed-end interval fund.
Founded last year, AFA was launched with the purpose of offering institutional-quality private investment strategies in a convenient interval fund format to registered investment advisors, family offices, and wealth advisors at private banks.
Maureen Quill, executive vice president, executive director of registered funds at UMB Fund Services, comments: “We are pleased to provide a suite of services to support Alternative Fund Advisors‘ first registered closed-end interval fund.”
Quill continues: “In addition to accessing our award-winning fund administration and custody services, AFA will be able to take full advantage of our high-touch client service as they continue to grow and evolve their product.”
Meanwhile, Marco Hanig, managing and founding principal, CEO at AFA, says: “From the beginning of our partnership, UMB Fund Services has demonstrated their steadfast commitment to client service by helping us through the challenges associated with launching a closed-end interval fund.”
“We are confident that UMB Fund Services is the right partner to have in our corner for the AFA Multi-Manager Credit Fund,” Hanig adds.
This appointment follows UMB Fund Services’ recent selection by Hamilton Lane to provide administration, fund accounting and custody services to certain registered and private funds.
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