Huntington Asset Services has entered a strategic alliance with Citco Mutual Fund Services for 40 Act operational services to provide a holistic fund offering to alternative managers and their investors. Citco Mutual Fund Services was launched by Citco Fund Services to meet the growing demand for liquid alternatives structures, which provide access to alternative investment strategies via more traditional structures such as mutual funds or exchange-traded funds.
Alternative fund managers are starting to set up 40 Act structures to accommodate retail investors’ increasingly interest in alternative asset classes as an additional source of yield. However, alternative fund managers face a variety of unfamiliar requirements to operate a liquid alternatives structure. As part of this alliance, Huntington Asset Services will navigate such requirements for Citco, including new portfolio restrictions, additional regulatory oversight, further fund governance and regular investor communications.
“Huntington and Citco share core beliefs about the culture we create for our colleagues and the approach we take with our customers,” said Joe Rezabek, President, Huntington Asset Services. “This common bond, along with our complementary technical expertise creates a powerful relationship for the marketplace.”
“It’s all about common values – Citco is a relationship firm, first and foremost” said Jay Peller, Global Head, Sales and Product Development, for Citco Fund Services.. “When we evaluated 40 Act providers, we kept running into firms who focused on the mechanics of fund administration, whereas with Huntington, we found an experienced management team that really understood the importance of client service.”
The 2013 Huntington Asset Services Annual Client Forum wrapped up on Monday, October 21, successfully concluding its fourth year of bringing in-house and industry experts together with Huntington’s clients and prospective clients for two days of networking and thought leadership. This year’s theme was “Awareness” and included a number of speakers and panels devoted to distribution. As last year’s theme was “Messaging Matters,” this year’s theme reflected the need to get that well-crafted message out through proactive efforts.
The Forum kicked off on Sunday evening with Barrington Partners’ Judy Benson covering the topic of “Class Rationalization.” Judy provided an overview of the current class structure landscape and a preview of where classes of shares will be going in the future. Attendees noted this opening keynote struck a chord as they look to expand distribution and tailor their lineup to their targeted channels. Attendees were then treated to a networking reception where they could interact with other fund managers and industry experts.
Monday morning began with opening remarks from Huntington Asset Services President Joe Rezabek. Joe discussed Huntington’s capital strength and continued investment in technology and staff, including recent upgrades and additions to its administration team. The focus on growth and distribution then continued with Dan Sondhelm of SunStar Strategic relaying the importance of “Telling Your Story.” Dan focused on the importance of proactivity and getting your carefully crafted message out to your target audience and beyond. The theme of proactivity, knowing your target audience and telling your story was woven throughout the day’s distribution-focused panels.
Attendees then were able to select one of two distinct tracks for the remainder of the morning – operations or distribution. The distribution break-out session attendees experienced an integrated panel discussion about leveraging data for good market intelligence, the fund screening process among gatekeepers and trends and best practices in wholesaling and key accounts management. The session featured experts from Huntington, Strategic Insight, Celera Systems, Fund Evaluation Group, Sequoia Financial, Alta Trust and API Funds.
Those attending the operations break-out session learned about the impact of derivatives usage in mutual funds, developments for fund managers and boards with respect to valuation, and the ever-evolving tax implications of various investment strategies. The panel of industry experts included representatives from Ernst & Young, the 1940 Act Law Group, Interactive Data Corporation, Thompson Coburn, Cohen Fund Audit Services, KPMG and Huntington.
Arthur Laffer, Jr., President and CEO of Laffer Associate served as this year’s luncheon keynote speaker. Art’s address included commentary on global geo-political and economic events and their potential impacts on the United States and the investment industry. That afternoon, the Forum convened its annual Regulatory Update panel, which covered a range of topics, including SEC examination priorities, recent staff guidance, board matters, new product development trends, as well as recent regulatory actions involving the “gatekeepers” – trustees, auditors and CCOs. The panel included senior compliance staff from Huntington as well as partners from Bernstein Shur and Thompson Hine.
To conclude the day, this year’s Success Stories panel moderated by Huntington Asset Services Senior Vice President Jeff Young included representatives from Angel Oak Capital and Diamond Hill Investment Group. The panelists discussed sales, marketing and distribution strategies that had worked (and not worked) for them as they grew their businesses and funds, and shared candid observations about the pitfalls of growth. Each talked openly about the importance of focus and getting your story out in times of good performance and bad. They also shared their thoughts on new initiatives in the pipeline and the challenges of managing their business as well as their investments.
Huntington Asset Services, Inc. has extended its relationship with Dean Family of Funds through December 2015. Dean has been a Huntington Asset Services client since November 1999.
The Dean Family of Funds focuses on high quality companies that are undervalued, or temporarily out of favor for transitory reasons, that can lead to above average returns.
“Huntington Asset Services has been providing a variety of tax, transfer agency, and distribution services to the Dean Family of Funds, along with our core investment accounting solutions,” said Joe Rezabek, president of Huntington Asset Services. “Dean chose to maintain the longstanding partnership with Huntington because of our comprehensive support of their funds, along with our continuing investment in staff and technology.”
Huntington Asset Services is pleased to announce the following additions to our team:
Martin R. Dean
Martin joins Huntington Asset Services, Inc. as senior vice president and chief compliance officer for Huntington Funds and Huntington Strategy Shares. Martin has more than 25 years of experience in the mutual fund industry, with emphasis on compliance, financial administration, product management and audit activities.
Prior to joining Huntington in July 2013, Martin was director and head of Fund Accounting and Fund Administration Services for Citi’s North American business. During his tenure, he served as principal financial officer and AML compliance officer for numerous registered investment companies and significantly contributed to the development of the compliance department in Citi’s (formerly BISYS) Dublin, Ireland office. At BISYS, Martin also held senior management positions in Administration & Regulatory Services and Accounting Services. Before joining Citi in 1994, he served as a senior manager specializing in financial services for KPMG Peat Marwick.
Martin graduated from The Ohio State University with a bachelor’s degree in business administration, majoring in accounting and management information systems, and he currently holds Series 6 and 26 licenses. Martin is also a Certified Public Accountant in the state of Ohio.
Greg joins Huntington Asset Services, Inc. as vice president of Fund Accounting. In his role, he is responsible for the oversight of day-to-day operations, departmental initiatives, talent development and market data vendor management.
Before joining Huntington Asset Services, Greg was a senior vice president with Citi Fund Services, Inc. responsible for the oversight of a centralized pricing and corporate actions team that supported both back and middle office business lines. While at Citi, Greg was responsible for the creation and oversight of a centralized security master group and also served as a member of a global market data council that was tasked with making the overall vendor process more cost-effective and efficient. Prior to joining Citi Fund Services, Greg spent 10 years in fund accounting with BISYS Fund Services. Greg holds a Bachelor of Science in Finance from Wright State University.
Jennifer M. Millenbaugh
Jennifer also joins Huntington Asset Services, Inc. as a vice president and project manager. She is responsible for managing the project management team dedicated to client events.
Prior to her move to Huntington Asset Services, Jennifer worked for Citi Fund Services, Inc. for more than 17 years and most recently served as implementation manager, with a focus on client events. Additionally, her background includes mutual fund operations and client relationship experience. Jennifer attended The Ohio State University where she earned a bachelor’s degree in business administration, majoring in accounting.
Huntington Asset Services will assist two investment firms with the launches of their mutual fund offerings. Huntington Asset Services is a provider of fund administration and accounting, as well as distribution and transfer agency services.
“We are pleased to have been selected to be the service provider for such respected investment firms like BRC Investment Management and Mitchell Capital Management,” said Joseph Rezabek, president of Huntington Asset Services. “With the launch of a new mutual fund, it is critical that the adviser be able to rely on experts who can navigate the fund through the many operational and regulatory issues that arise. We bring years of such expertise to its clients, so firms such as BRC and Mitchell can focus on servicing their customers.”
BRC Investment Management, LLC launched the BRC Large Cap Focus Equity Fund, an open-ended fund which seeks to achieve long-term capital appreciation that will exceed the S&P 500® Index by investing in 30-35 sector diversified equity securities within the range of the market capitalizations of the companies in the Index. The new mutual fund provides investors with access to the adviser’s 16+ year old flagship BRC Large Cap Concentrated Equity strategy, previously available to only select institutions and wealthy individuals. The fund launched in December 2012 in the Valued Advisers Trust. As of September 30, 2012, BRC Investment Management LLC had assets under management of $514.4 million.
“BRC Investment Management cares deeply about helping our clients achieve their long-term financial goals,” said John R. Riddle, CFA, managing principal and chief investment officer for BRC Investment Management. “Huntington Asset Services has helped guide us through the numerous operational requirements that launching a mutual fund entails, so we can focus on giving our customers the very best solutions to their financial situations.”
Mitchell Capital Management Co. launched the Mitchell Capital All-Cap Growth Fund, a fund that seeks capital appreciation and invests primarily in a portfolio of diversified common stocks, generally consisting of 25-50 security positions, that Mitchell Capital Management Co. believes have high above average future growth potential relative to their peers. The fund will focus primarily on U.S. companies without regard to market capitalization or industry segmentation. The fund launched in March 2013 in the Valued Advisor Trust. As of September 30, 2012, Mitchell Capital Management Co. had assets under management of $636 million.
“The decision to select Huntington Asset Services for the launch of our mutual fund was based on their long history of mutual fund management, their experienced team of professionals, and their attention to every aspect of mutual fund support,” said Jonn Wullschleger, vice president and portfolio manager for Mitchell Capital Management. “The Valued Advisers Trust gave us a streamlined approach to successfully launch our fund and deliver the customer-centric performance our clients have come to expect from us.”
Huntington Asset Services, Inc., a wholly owned subsidiary of Huntington Bancshares Incorporated, has extended its relationship with the API Funds through May 2014. API has been a Huntington Asset Services client since 2004.
Driven by the success of its flagship fund, API Efficient Frontier Income Fund, API Funds recently surpassed $500 million assets under management.
"Huntington Asset Services is honored to celebrate this milestone with API Funds," said Joe Rezabek, president of Huntington Asset Services. "The tenure and success of our collaborative relationship with API has been underscored by the significant growth their fund has enjoyed, and we are excited to continue our exceptional service to them."
"The nearly ten-year relationship between Huntington Asset Services and API has created a synergy that has underscored our success," said Dave Basten, Jr., managing director of API Funds. "Huntington's comprehensive transfer agency and distribution service offerings have played a significant part in API crossing the $500 million assets under management milestone. We are proud of the accomplishment and pleased that Huntington has helped us reach this significant achievement."
Huntington Funds and Huntington Asset Services, wholly-owned subsidiaries of Huntington Bancshares Incorporated (NASDAQ: HBAN; www.huntington.com), announce they are the Gold winner of the NOVA Award for Innovation in Back Office Efficiencies for 2012.
The NOVA Awards honor outstanding leadership and achievement in mutual fund operations and marketing and are produced by Money Management Executive in conjunction with the National Investment Company Service Association (NICSA). Winners were honored at NICSA's General Membership Meeting.
Over the past 12 months, a significant capital commitment made by gold award winner Huntington Funds and its sub-administrator, Huntington Asset Services, has resulted in an array of state-of-the-art systems and enhanced productivity and procedures, establishing them as a leader in providing oversight, critical processes and services for their investment products said Money Management Executive in a published article.
"We are pleased with this acknowledgement of our continuing commitment to enhance the customer experience of both our long standing clients, and the new clients who have recently chosen Huntington as their partner of the future," said Joe Rezabek, president of Huntington Asset Services. "These upgrades represent a precision blend of technological enhancements and human touch that allow us to better streamline our back offices procedures, while remaining competitive in the marketplace, by introducing new and more innovative products."
The streamlined processes have allowed Huntington to reduce paperwork, unify systems and operations, and strengthen reporting procedures. Over the next several years, these upgrades should help the company improve operational efficiency and attract new customers.
Money Management Executive added, "Huntington's commitment to its technology and process review goal has resulted in its ability to provide daily returns; automated delivery of any period of performance for the fund and related benchmarks; increased frequency and accuracy of detailed post-trade compliance reviews; and earlier identification of potential tax issues related to investments in foreign issuers among other achievements."
Huntington Asset Services, a wholly owned subsidiary of Huntington
Bancshares Incorporated (NASDAQ: HBAN (www.huntington.com)), has announced that the
Valued Advisers Trust, its second series trust, recently reached assets under management of
$500 million. This brings the total assets served in its two sponsored trusts to $2.3 billion.
“We are very proud of the growth achieved in the Valued Advisers Trust since its formation in
late 2008 and first fund launch in 2009,” said Jeff Young, senior vice president of Relationship
Management. “Our commitment to assisting industry-leading managers as they successfully
launch funds efficiently has been a hallmark of our firm for many years. Crossing this key
milestone is a testament to the fund managers and our support of their efforts.”
The Valued Advisers Trust is one of two multi-series trusts offered by Huntington Asset
Services. The structure provides investment advisors new to the mutual fund business an
efficient and cost-effective solution for starting a fund or funds. By leveraging an existing
investment company structure, and its economies of scale, fund managers can focus on their
core competencies of investment management and on growing their business. Huntington Asset
Services first entered the series trust market in 1998.
About Huntington Asset Services, Inc.
Huntington Asset Services, Inc. has been providing mutual fund service solutions for more than
40 years. Huntington's fully integrated services include fund administration, accounting, transfer
agency, compliance, distribution and custody for clients with combined assets of more than $45
billion. Huntington's comprehensive solutions support both standalone and series trust
structures. Based in Indianapolis, Huntington Asset Services, Inc. and Unified Financial
Securities, Inc. are wholly owned subsidiaries of Huntington Bancshares Incorporated
(NASDAQ: HBAN; www.huntington.com), a $57 billion regional bank holding company
headquartered in Columbus, Ohio. More information is available at
In this issue, we share the inside scoop on navigating platform representation, highlight our upcoming partnership with Confluence for more comprehensive, automated performance reporting, provide guidance on valuing illiquid securities and give you a sneak peek at our 2012 Annual Client Forum.
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Huntington Asset Services, Inc., a wholly owned subsidiary of Huntington Bancshares Incorporated (NASDAQ: HBAN; www.huntington.com), has extended its relationship with the Midas Family of Funds through March 2015. Midas has been a Huntington Asset Services client since 2002.
The Midas mutual funds invest across a variety of sectors with varying objectives: Midas Fund, Inc. (MIDSX) seeks capital appreciation and protection against inflation and, secondarily, current income and invests in the securities of companies involved in mining, processing, fabricating, and the distribution of natural resources and precious metals. Midas Perpetual Portfolio, Inc. (MPERX) seeks to preserve and increase the purchasing power value of its shares over the long term using a target asset allocation strategy. Midas Magic, Inc. (MISEX) invests aggressively for solely capital appreciation in any type of security.
“Huntington Asset Services provides investment accounting solutions, tax services, and transfer agency services to Midas, and we are excited to continue our exceptional service and strong support of them,” said Joe Rezabek, president of Huntington Asset Services. “Midas chose to stay with Huntington because of our comprehensive solutions that support both their closed-end and open-end fund products. They also chose to extend the relationship because of our continuing investment in staff and technology infrastructure.”
“Providing our clients with the opportunity to achieve their long term financial goals is the foundation of our business, and Huntington Asset Services has helped us provide that since 2002,” said Thomas O’Malley, chief financial officer at Midas Funds. “We are proud to announce that our relationship with Huntington will continue and excited for the opportunities it will bring us in the future.”
Investors should carefully consider the investment objectives, risks, charges and expenses of the Midas Funds by reading the prospectus carefully before investing or sending money. Consult with your tax advisor or attorney regarding specific tax issues. Investment products, including shares of the Midas Funds, are not federally or FDIC insured, are not deposits or obligations of, or guaranteed by, any financial institution and involve investment risk, including possible loss of principal and fluctuation in value. For investment risks associated with the Funds, please read "Principal Investment Objectives, Strategies and Risks," and "Additional Investment Risks" in the free prospectus, which contains this and other important information about the Midas Funds. You can obtain a prospectus by contacting us at 1-800-400-MIDAS (6432) or downloading it by visiting www.MidasFunds.com.
Distributed by: Midas Securities Group, Inc.
About Huntington Asset Services
Huntington Asset Services, Inc., a subsidiary of Huntington Bancshares Incorporated (NASDAQ: HBAN; www.huntington.com), has been providing mutual fund service solutions for more than 40 years. Huntington’s fully integrated services include fund administration, accounting, transfer agency, compliance, distribution and custody for clients with combined assets of more than $45 billion. Huntington’s comprehensive solutions support both standalone and series trust structures. Based in Indianapolis, Huntington Asset Services, Inc. and Unified Financial Securities, Inc. are wholly owned subsidiaries of Huntington Bancshares Incorporated (NASDAQ: HBAN), a $56 billion regional bank holding company headquartered in Columbus, Ohio. More information is available at www.HuntingtonAssetServices.com.
Investment and insurance products are:
NOT A DEPOSIT • NOT FDIC INSURED • NOT GUARANTEED BY THE BANK • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • MAY LOSE VALUE
Huntington Bancshares Incorporated is a $56 billion regional bank holding company headquartered in Columbus, Ohio. The Huntington National Bank, founded in 1866, provides full-service commercial, small business, and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services. The principal markets for these services are Huntington’s six-state banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary distribution channels include a banking network of over 660 traditional branches and convenience branches located in grocery stores and retirement centers, and through an array of alternative distribution channels including internet and mobile banking, telephone banking, and more than 1,300 ATMs. Through automotive dealership relationships within its six-state banking franchise area and selected other Midwest and New England states, Huntington also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.
Huntington Asset Services is pleased to announce that Alex Caravetta has joined the firm as a Vice President of Relationship Management. She will report to Jeff Young and work on a number of client relationships in addition to other responsibilities. Alex brings an impressive background, having worked in mutual fund compliance, custody operations and bank operations in a variety of capacities.
Huntington Asset Services will once again host its annual Client Forum. This year's event will include a roundtable discussion moderated by Money Management Executive's Editorial Director Tom Steinert - Threlkeld, a workshop conducted by SunStar Strategic's Dan Sondhelm, and a keynote address by Fuse Network Founder T. Neil Bathon. Additionally, there will be a number of other regulatory, compliance and operations panels during the event. For details, contact your Relationship Manager or Jeff Young.
Huntington Asset Services, Inc. a wholly owned subsidiary of Huntington Bancshares Incorporated has appointed Joseph Rezabek as president of the company. Rezabek comes to Huntington from Citi Fund Services, where he was managing director and head of North American Fund Services.
"An outstanding executive and leader, Joe will commit his expertise and vision to building upon Huntington Asset Services' strengths," said Daniel B. Benhase, Huntington senior executive vice president and director of the Wealth Advisors, Government Finance and Home Lending group.
Founded in Indianapolis in 1952 as Unified Fund Services, Inc., Huntington Asset Services provides fully integrated services that include fund administration, accounting, transfer agency, compliance, distribution and custody for clients with combined assets of more than $45 billion. Huntington Asset Services’ comprehensive solutions support both stand-alone and series trust structures.
"Huntington Asset Services is an outstanding organization. I'm proud to be joining and leading such an excellent team," said Rezabek. "We will continue to grow our business and invest in our people, process and technology infrastructure while enhancing the depth and breadth of our services."
Rezabek has an extensive background in global fund accounting and operations, with more than 23 years of industry experience in multiple disciplines with both third-party administrators and top-tier international asset management firms. He has a proven track record for developing, refining and integrating large-scale operations.
Prior to joining Citi, Rezabek held a number of senior management positions in diverse operational and business development roles at State Street Corporation throughout Europe and in the firm’s Boston headquarters. Most recently, he served as Chief Operating Officer of State Street’s Milan, Italy branch, where he was responsible for accounting operations, IT, compliance support and professional services. Rezabek began his career at First Data Corporation (now The Bank of New York Mellon Corp.) and also held positions with Putnam Investments and Colonial Investor Services (now Columbia Management Group).
Huntington Asset Services is well positioned for a strong start in 2012 with
the addition of four new clients. One client will launch a new fund later this year, while the other
three will introduce new products early next year.
One of the new clients, Todd-Veredus Asset Management LLC, will introduce the TVAM
International Intrinsic Value Fund in early 2012 within the Valued Advisers Trust. Todd-Veredus
Asset Management LLC is a financial investment advisory firm headquartered in Louisville,
Kentucky with $3.2 billion of assets under management.
“When it came down to finding a trusted partner that could help us with every step of launching
our new fund, we chose Huntington Asset Services,” said John Poole, managing director of
marketing, TVAM. “Their track record speaks for itself. They are a strong player in the market
because they provide a full suite of services for mutual funds and other investment products.”
The addition of new clients builds on the continued success Huntington Asset Services has had
in 2011 helping clients launch eight new funds. Other firms that recently selected Huntington
Asset Services include:
- Granite Investment Advisors, which will introduce the Granite Value Fund within the
Valued Advisers Trust in 2011
- 1492 Capital Management, LLC, which will introduce both the 1492 Small Cap Value
Fund and 1492 Small Cap Growth Fund within the Unified Series Trust in early 2012,
and is also partnering with Huntington on a collective investment fund.
- Martin Capital, which will launch within the Unified Series Trust in 2012
“We continue to believe it is an ideal time for investment managers to launch new funds.
Advisors and investors are more willing than ever to work with new entrants,” said Brian
Blomquist, president, Huntington Asset Services. “Still, it is important for advisors to select
experienced partners who can work closely with them to launch their funds. I’m proud of the
turnkey approach we take at Huntington Asset Services, as it helps increase the success for our
In September, Huntington Asset Services, a wholly owned subsidiary of Huntington Bancshares Incorporated (NASDAQ: HBAN(www.huntington.com), presented emerging trends and strategies for mutual fund growth at its annual client conference in Indianapolis.
One interesting trend presented at this year’s second annual conference is that for the year-to-date period through August 31, 2011, net inflows for funds that have not been assigned a Morningstar Rating™ ranked second only to those of funds receiving a “Five Star” rating from Morningstar. . Unrated funds typically have been in existence for fewer than three years’ time, which suggests that new entrants can compete successfully against more established funds. The Morningstar Rating metric has historically had a significant influence on mutual funds selected by investors and their financial advisors.
“This clearly underscores that advisors and investors are willing to invest in innovative ideas in the mutual fund arena,” said Brian Blomquist, president of Huntington Asset Services. “Many of our newer clients are proof that a great investment thesis, coupled with excellent operational support and sound marketing strategy can be successful.”
According to one presenter, Dan Sondhelm, senior vice president and partner of financial marketing firm, SunStar Strategic, “Many larger funds have disappointed investors in recent years, so newer funds that are making a commitment to growth and proactively telling their stories to investors and advisors through the media and with new technology, are attracting the attention they deserve.”
In addition, Sondhelm shared Morningstar’s net fund flow figures for the year-to-date period ending August 2011. In doing so, he pointed out that funds that offer strategies beyond traditional stocks and bonds, such as commodities, emerging markets and hedging strategies have seen significant inflows. A good example is the TEAM Asset Strategy Fund, which has been working with Huntington Asset Services since December 2009 and has seen 23% growth of assets under management in the past year.
Huntington Asset Services is a premier provider to new and emerging mutual funds. At this year’s conference, clients, prospective clients and guests were treated to an impressive roster of speakers and panelists including:
• Karen Barr, The Investment Adviser Association
• Ira Cohen, Industry Consultant
• Tim Dolan, Dolan Capital Group
• Sonja Formato, Fidelity FundsNetwork
• Chad Oviatt, Huntington Bank
• Tony Poleondakis, Piedmont Capital Distributors
• Varanont Ruchira, Huntington Asset Services
• Dee Anne Sjogren, Thompson Coburn
• Dan Sondheim, SunStar Strategic
• Anna Maria Spurgin, Huntington Asset Services
• Bill Thomas, former CEO of Grail Advisors
• Jeff Young, Huntington Asset Services
Topics ranged from trends in the wholesaling of mutual funds to a Capitol Hill, SEC and FINRA update. Attendees also participated in a roundtable discussion about distribution strategies and tactics, sharing their successes and lessons learned as their businesses grew.
An investor should consider the funds’ investment objectives, risks, and charges and expenses carefully before investing or sending any money. This and other important information about the investment company can be found in the funds’ prospectus. To obtain a prospectus, call 1-800-418-TEAM or visit www.teamassetstrategy.com. Please read the prospectus carefully before investing. The TEAM Funds are distributed by Unified Financial Securities, Inc. (Member, FINRA). Unified Financial Securities Inc. is a wholly owned subsidiary of Huntington Bancshares, Inc.
Huntington Asset Services has been chosen by Kovitz Investment Group, LLC to administer the launch of the advisor’s first mutual fund, the Green Owl Intrinsic Value Fund. Huntington Asset Services’ Valued Advisers Trust will provide back-office support and service for the Chicago-based investment firm’s new fund.
“We are excited to work with an industry leader like Kovitz Investment Group,” said Brian Blomquist, president, Huntington Asset Services. “Their proven track record in the equity space, along with their success in the investment management business, makes them a perfect fit for our growing Valued Advisers Trust series trust solution.”
Marc Brenner, president, Kovitz Investment Group, said, “As we looked to launch our first mutual fund, we sought a partner who could help us bring our fund to market effectively and efficiently, while also providing a complete turnkey solution. Huntington Asset Services worked with us to develop the structure of the fund and collaborated with our team to ensure a successful launch later this year.”
Huntington Asset Services is a leading provider of fund administration and accounting, as well as distribution and transfer agency services.
Joe Flannery has joined Huntington Asset Services, a wholly owned subsidiary of Huntington Bancshares Incorporated (NASDAQ: HBAN; www.huntington.com), as a senior vice president. In his new role, he will manage the transfer agency, cash management and office administration groups and will report directly to Brian Blomquist, president, Huntington Asset Services.
“I am very excited about Joe joining the Huntington Asset Services team," said Blomquist. "His background and leadership abilities give him the vision, experience and track record needed to grow our business.”
Flannery has more than 21 years of experience in asset servicing, transfer agency and cash management. Prior to joining Huntington, he was vice president and head of Financial Controls at JP Morgan Chase's Transfer Agency in Cincinnati, Ohio. In this role, he was accountable for leading the financial control function of the transfer agency operations for the western hemisphere. He oversaw all reconciliation and cash movement activities for mutual fund products, including hedge funds and exchange traded funds. Flannery also held similar positions at Fidelity Investments and Federated Investors.
He earned his bachelor’s degree in accounting from Indiana University of Pennsylvania, Indiana, Pa.
Huntington Asset Services, a wholly owned subsidiary of Huntington Bancshares Incorporated (NASDAQ: HBAN; www.huntington.com), announced it will assist Longview Capital Management LLC with its first mutual fund offering. The Delaware-based investment firm will offer a new mutual fund that will be serviced through Huntington Asset Services’ Valued Advisers Trust. Huntington Asset Services is a leading provider of fund administration and accounting, as well as distribution and transfer agency services.
"We are pleased to help a respected investment firm like Longview Capital Management LLC launch its first mutual fund," said Brian L. Blomquist, president of Huntington Asset Services. "Longview’s investment strategy and expertise is well respected in the industry, and Huntington is appreciative of the confidence being shown in our people and our solutions."
Christian M. Wagner, Longview Capital’s chief executive officer and chief investment officer, said, "We selected Huntington Asset Services for its experienced team of professionals, extensive history of fund management and turnkey solutions. The series trust solution, the Valued Advisers Trust, was a perfect fit for our plans for the fund. In a competitive marketplace, it’s important for an investment advisor to focus on the investment process and growth. Huntington’s service model allows us to do just that."
This represents the seventh advisor to launch its fund within this trust since its inception. Huntington Asset Services serves more than 20 advisors within its two series trusts.