CINCINNATI, May 20, 2025 (GLOBE NEWSWIRE) -- Ultimus Fund Solutions® (Ultimus®), a leading independent provider of full-service, technology-enhanced fund administration, accounting, and investor solutions, is proud to announce that ProShares, a premier provider of ETFs and mutual funds, selected Ultimus as the fund administrator for 116 mutual funds offered by its affiliate, ProFunds. By securing this strategic and substantial partnership, Ultimus demonstrates its commitment to delivering operational excellence and leveraging best-in-class technology for firms with large and complex fund portfolios.

ProShares and its affiliates manage over $80 billion in assets and are widely recognized for offering some of the most innovative funds in the financial industry, including being the world’s largest provider of leveraged and inverse funds.¹

Ultimus will provide the mutual fund complex with a full suite of administration solutions, including fund accounting, financial reporting, tax and compliance services. Notably, Ultimus’ collaboration will include providing specialized legal administration and regulatory services across both mutual fund and ETF offerings, totaling over 250 funds.

With this partnership, ProShares benefits from Ultimus’ uSUITE advanced technology platform and its proven ability to support complex fund structures—including leveraged and inverse funds, as well as derivatives and swaps. With its experienced team of service professionals and multi-faceted project management, Ultimus facilitated a seamless full-service conversion of all 116 mutual funds.

"We are pleased to have Ultimus supporting our diverse product lineup. This collaboration strengthens our longstanding commitment to offering innovative investment opportunities," said Alex Depetris, Managing Director of Operations and Technology at ProShares.

"ProShares’ decision to partner with Ultimus further validates our strength as a trusted provider for large scale fund complexes," said Gary Tenkman, CEO at Ultimus Fund Solutions. "Their extensive lineup leverages our sophisticated technology and dedicated expertise, which are hallmarks of the Ultimus service model, and we are excited to support their innovative offerings through our scalable enterprise solutions."

About Ultimus

Ultimus Fund Solutions (Ultimus) is a leading provider of full-service tech-enhanced fund administration, accounting, middle office, and investor solutions to support the servicing of registered funds, alternative investment funds, such as interval and tender offer 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’ service offering comes with a deep commitment to excellence, achieved through continuous investments in both talent and technology, and focused on providing a consultative approach and boutique service levels.

Headquartered in Cincinnati, Ohio, with offices in other major cities such as New York, Denver, Philadelphia, Columbus, 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.

¹ Source: Morningstar, as of Apr 30, 2025

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