Ultimus Fund Solutions has launched a new portfolio compliance application that will enable fund managers to monitor investment portfolios in line with federal regulations.
The app, dubbed uComply, has been developed internally. It comprises various tests and rules referencing different regulatory standards including SEC and IRS diversification requirements, and common fund prospectus limitations.
Reports of clients’ portfolio are sent through the app to fund managers who then assess the reports and check for breaches, if any.
The app is integrated with various data sources and systems of the firm, thereby creating a unified source location for fund compliance research.
Ultimus COO and managing director Gary Tenkman said: “Our ability to create a comprehensive tool for our client’s compliance programs further enhances our best-in-class service model. We look forward to continuing the development of these programmes and providing valuable solutions for all of our clients.”