UMB Launches Second Turnkey Registered Funds Solutions Platform as More Funds Choose Shared Services

UMB Fund Services, Inc. (UMBFS), a subsidiary of UMB Financial Corporation (NASDAQ: UMBF), announced today the launch of its second turnkey Registered Fund Solutions (RFS) platform service for starting and operating unlisted closed-end funds. Redwood Real Estate Income Fund (ticker: CREMX) launched as the first fund on the new platform.

During 2022, even as financial markets struggled, UMB Fund Services experienced strong growth in its closed-end fund segment, adding $13.05 B of assets under administration, much of which was interval and tender-offer fund assets. At the end of 2022, the firm serviced 62 unlisted closed-end funds. Across all fund types, UMB serviced more than 2,000 funds with a total of more than $362 billion in assets under administration at year end.

“As our first RFS platform continued to grow, we knew we’d need a second, parallel platform to support demand,” said Maureen Quill, executive vice president and executive director, registered funds. “We’re seeing more and more managers choosing shared services as a long-term solution as they review economics—not only about service-provider costs but also with respect to their own time, such as working with fund boards. That’s as true for RFS as it is on the listed-fund side of our business with our Series Trust platform.”

(This news/press release has not been altered by, apart from the headline, and has been obtained from a syndicated source:-