North Square Expands Relationship with Ultimus to Support Diverse Product Offerings
Strengthening Strategic Collaboration for Streamlined Solutions
CINCINNATI, July 29, 2025 (GLOBE NEWSWIRE) -- Ultimus Fund Solutions® (Ultimus®), a leading independent fund administration provider, announced today that North Square Investments (North Square) has expanded its partnership with Ultimus to include support across various product types, including mutual funds, a tender offer fund, and most recently, North Square’s inaugural exchange-traded fund (ETF), North Square RCIM Tax-Advantage Preferred and Income Securities ETF (QTPI). With expertise in servicing diverse investment vehicles under a single operational ecosystem, Ultimus empowers asset managers like North Square to streamline operations and scale efficiently regardless of the complexity or type of product wrapper being launched or managed.
North Square, a multi-boutique investment firm, initially partnered with Ultimus in 2023 when they converted their 12 mutual funds from another provider into a multiple series trust serviced by Ultimus. The firm later relied on Ultimus' ability to provide a smooth acquisition and conversion of a tender offer fund, which another provider previously supported. Most recently, with the launch of its first ETF, North Square leveraged Ultimus' comprehensive ETF operational support, including guidance on regulatory compliance and operational workflows for a seamless and successful launch process.
“The decision to expand our relationship with Ultimus was a straightforward one,” said Mark Goodwin, CEO of North Square. “Ultimus has provided a turnkey solution across our growing suite of products. Their expertise in ETFs and comprehensive service model makes them a trusted partner in executing our strategic growth initiatives.”
Ultimus helped service North Square’s ETF launch by providing a robust operational framework. Drawing on its deep industry experience and consultative approach, the Ultimus team supported North Square in navigating complex ETF-specific processes, providing legal administration, fund accounting, basket services, and financial administration services.
Ian Martin, Executive Vice President at Ultimus, commented, “It’s a privilege to collaborate with North Square as they expand their investment offerings. This relationship exemplifies our commitment to being a trusted partner by delivering scalable solutions, facilitating smooth transitions, and supporting innovative product launches across multiple investment vehicles.”
Ultimus continues to strengthen its solid reputation by providing asset managers with comprehensive, scalable, and adaptable solutions tailored to the various investment structure complexities, helping to position managers for long-term success.
About Ultimus Fund Solutions
Ultimus Fund Solutions (Ultimus) is a leading provider of full-service tech-enhanced fund administration, accounting, middle office, and investor solutions to support the launching and servicing of registered funds, private funds, and public plans. The company also offers customized structures designed for the unique needs of pensions, endowments, foundations, and other large institutions. Ultimus’ deep commitment to excellence is achieved through investments in best-in-class technology, compliance programs, organization-wide cyber security efforts, and hiring seasoned professionals.
Headquartered in Cincinnati, Ohio, with offices in other major cities such as New York, Philadelphia, Denver, and Omaha, Ultimus employs more than 1,100 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 2,100 total traditional and alternative funds, Ultimus helps investment managers and fund families flourish in today’s increasingly sophisticated and dynamic investment landscape. For more information, visit www.ultimusfundsolutions.com.
About North Square
Founded in 2018 and headquartered in Chicago, Illinois, North Square Investments is an independent, multi-boutique investment firm dedicated to delivering differentiated active investment strategies to the market. North Square has an experienced senior management team comprised of seasoned professionals, a board composed of industry veterans, and is backed by Estancia Capital Partners. As of May 31, 2025 North Square had $2.6 billion of assets under management in 13 mutual funds, one closed end fund and one ETF. With North Square’s ownership interests (majority and minority, respectively) in the distinctly branded firms of CS McKee and Oak Ridge Investments, collective assets under management and advisement totaled approximately $15.6 billion. Learn more about North Square Investments at northsquareinvest.com.
Principal Risks of Investing, North Square RCIM Tax-Advantage Preferred and Income Securities ETF (QTPI): Risk is inherent in all investing, including an investment in the Fund. An investment in the Fund involves risk, including, the following principal risks, among others: Preferred Securities Risk, Capital Securities Risk, Tax-Advantaged Strategy Risk, Qualified Dividend Income (QDI) Risk, Market Risk, Credit Risk, Fixed Income Securities, Interest Rate Risk, Real Estate Investment Trusts (“REITs”) Risk, Real Estate Securities Risk, High Yield (“Junk”) Bond Risk, Financials Sector Risk, Foreign Investment Risk, Yield Curve Risk, Gap Risk, New Fund Risk, Cybersecurity Risk, Management and Strategy Risk, Liquidity Risk, Authorized Participant Concentration Risk, and ETF Risks. Summary descriptions of these and other principal risks of investing in the Fund are set forth below. Before you decide whether to invest in the Fund, carefully consider these risks associated with investing in the Fund, which may cause investors to lose money. There can be no assurance that the Fund will achieve its investment objectives. An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
The prices of foreign securities may be more volatile than the prices of securities of U.S. issuers because of economic and social conditions abroad, political developments, and differences and changes in the regulatory environments of foreign countries. There can be no assurance as to the portion of the Fund’s distributions that will qualify for favorable federal income tax treatment. During the first year of operation of the Fund, a portion of the Fund’s dividends to shareholders may not constitute QDI due to a failure of the Fund and/or eligible shareholders to satisfy the holding period requirement for QDI treatment.
Contingent convertible securities (“CoCos”) are debt securities with loss absorption characteristics that provide for an automatic write-down of the principal amount or value of securities or the mandatory conversion into common shares of the issuer under certain circumstances. A preferred or debt security that can be redeemed at the option of the issuer may, upon redemption, be subject to call, reinvestment, or extension risk. High yield bonds are debt securities rated below investment grade (often called “junk bonds”). Junk bonds are speculative, involve greater risks of default, downgrade, or price declines and are more volatile and tend to be less liquid than investment-grade securities.
ETFs are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF’s shares may trade at a premium or discount to its net asset value, an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact an ETF’s ability to sell its shares. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Brokerage commissions will reduce returns.
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by calling 855-551-5521 or via the following link. Please read the prospectus carefully before investing.
North Square is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. Information contained herein derives from third-party sources believed to be reliable by the Adviser. However the accuracy and completeness cannot be guaranteed.
Distributed by Foreside Fund Services, LLC. Foreside is not affiliated with North Square or Ultimus Fund Solutions.
CONTACT: Marketing@UltimusFundSolutions.com
COD00000783 6/25/025
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