Parnassus Investments selects Ultimus as transfer agent administrator
09 June 2021 US
Image: peterschreiber.media/adobe.stock.com
Ultimus Fund Solutions has been selected as transfer agent for Parnassus Investments, a San Francisco based, $41.7 billion fund family as of 31 May.
The partnership will see Parnassus’ shareholders gain easy access to their accounts through Ultimus’ proprietary uTRANSACTTM platform.
This digital portal provides real-time information and account access for both shareholders and advisers and is part of Ultimus’ uSUITE technology applications.
The uTRANSACT portal is a key offering of the firm’s shareholder services and transfer agent services, explains Ultimus.
As part of the transition of transfer agent services, over 300,000 Parnassus shareholder accounts were converted to Ultimus’ transfer agent system.
Parnassus focuses on building wealth by investing in companies that have a positive impact on society through strong environmental, social and corporate governance (ESG) practices, and so
“From the beginning, we were impressed with Ultimus’ approach to taking care of shareholders. The quality of the services, the technology that drives them—it was obvious to us that Ultimus not only has a real passion for shareholders but they also have deep experience in working with ESG-driven investors,” comments Marc Mahon, chief operating officer for Parnassus.
According to Mahon, it was also important to us to be able to leverage Ultimus’ technology suite—to more fully integrate and automate our processes and maintain institutional types of controls.
Ian Martin, executive vice president, chief administrative officer for Ultimus, adds: “The Ultimus and Parnassus cultures are very compatible, and both firms place a high value on servicing shareholders.”
“We are extremely excited to begin our shared journey in partnership with Parnassus and look forward to a long and productive relationship.”
Check out Asset Servicing Times’ latest new issue, which features industry insights into transfer agency services.
The partnership will see Parnassus’ shareholders gain easy access to their accounts through Ultimus’ proprietary uTRANSACTTM platform.
This digital portal provides real-time information and account access for both shareholders and advisers and is part of Ultimus’ uSUITE technology applications.
The uTRANSACT portal is a key offering of the firm’s shareholder services and transfer agent services, explains Ultimus.
As part of the transition of transfer agent services, over 300,000 Parnassus shareholder accounts were converted to Ultimus’ transfer agent system.
Parnassus focuses on building wealth by investing in companies that have a positive impact on society through strong environmental, social and corporate governance (ESG) practices, and so
“From the beginning, we were impressed with Ultimus’ approach to taking care of shareholders. The quality of the services, the technology that drives them—it was obvious to us that Ultimus not only has a real passion for shareholders but they also have deep experience in working with ESG-driven investors,” comments Marc Mahon, chief operating officer for Parnassus.
According to Mahon, it was also important to us to be able to leverage Ultimus’ technology suite—to more fully integrate and automate our processes and maintain institutional types of controls.
Ian Martin, executive vice president, chief administrative officer for Ultimus, adds: “The Ultimus and Parnassus cultures are very compatible, and both firms place a high value on servicing shareholders.”
“We are extremely excited to begin our shared journey in partnership with Parnassus and look forward to a long and productive relationship.”
Check out Asset Servicing Times’ latest new issue, which features industry insights into transfer agency services.
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