Firm selects Ultimus to support the launch of the Nightview Fund
CINCINNATI, March 25, 2025 (GLOBE NEWSWIRE) -- Ultimus Fund Solutions® (Ultimus), a leading provider of comprehensive fund services, is pleased to announce its partnership with Nightview Capital to assist with the successful tax-free conversion of a private investment fund that Nightview Capital sponsored and advised into The Nightview Fund, an actively managed equity exchange-traded fund (ETF).
The conversion of the private fund into an ETF under Section 351 was executed seamlessly with the help of Ultimus' experienced team. As a result of the successful Section 351 conversion, investors in the Nightview private fund received shares in the ETF equal in value to their respective holdings in the private fund, with no tax consequence from the transaction.
Zak Lash, CFA, Chief Operating Officer of Nightview Capital, stated, "Launching The Nightview Fund through Ultimus was an exceptional experience and we couldn't be happier with our decision. Their tireless efforts, industry knowledge, and professional guidance ensured a smooth transition, allowing us to focus on delivering our growth-oriented equity strategy to investors in the highly efficient ETF structure. We are excited to leverage the fund's actively managed format in serving our clients' investment goals.”
The Nightview Fund is part of Ultimus' series trust, an innovative, open-ended platform designed to help streamline the launch, operation, and distribution of ETFs and mutual funds. Currently, Ultimus provides fund administration for nearly 300 funds within its series trust solution which accounts for approximately $75B in net assets.
Gary Tenkman, CEO of Ultimus, commented, "We are proud to support Nightview Capital in this important milestone and facilitate their transition into the ETF space. At Ultimus, we focus on delivering tailored, innovative solutions for our partners, enabling them to create differentiated investment products for the market and their investors. The launch of The Nightview Fund is a prime example of our team's exceptional expertise and commitment to providing flexible solutions. By understanding Nightview's vision and delivering results in a timely manner, we successfully met and exceeded their distinct requirements.”
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, with focus on our consultative approach and boutique service culture.
Headquartered in Cincinnati, Ohio with offices in other major cities such as Denver, New York, and Philadelphia, Ultimus employs more than 1,000 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,800 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.
Investors should consider the investment objectives, risks, and charges and expenses of the Fund(s) before investing. The prospectus contains this and other information about the Fund and should be read carefully before investing. The prospectus may be obtained at (866) 666-7156.
The Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC.
Investing involves risk, including loss of principal. There is no guarantee the fund will achieve its investment objective. As an actively-managed ETF, the fund is subject to Management Risk, Equity Securities Risk, Market Risk, Mid-Cap Company Risk, New Fund Risk, Operational Risk, Sector Risk, Small-Cap Company Risk, Smaller Fund Risk, Trading Risk, Value Investing Risk.
Non-Diversification Risk. Investment in the securities of a limited number of issuers or sectors exposes the Fund to greater market risk and potentially greater market losses than if its investments were diversified in securities and sectors. Issuer-Specific Risk -changes in the financial condition or market perception of an issuer may have a negative impact on the value of the Fund, and this risk may be exacerbated but by the relatively small number of positions that the Fund holds.
Secondary Market Liquidity Risk. Shares of the Fund may trade at prices other than NAV. As with all exchange traded funds ("ETFs”), Fund shares may be bought and sold in the secondary market at market prices. The trading prices of the Fund's shares in the secondary market generally differ from the Fund's daily NAV and there may be times when the market price of the shares is more than the NAV (premium) or less than the NAV (discount). This risk is heightened in times of market volatility or periods of steep market declines. Additionally, in stressed market conditions, the market for the Fund's shares may become less liquid in response to deteriorating liquidity in the markets for the Fund's underlying portfolio holdings. When an ETF is first launched, it is unlikely to have immediate secondary market liquidity. There is likely to be a lead market maker making markets of significant size, but it is unlikely there will be many market participants on day one of trading. This lack of secondary market liquidity may make it difficult for investors to transact in Fund shares in the market, and the market price consequently may deviate from the Fund's NAV. As the Fund begins to trade and as client interest increases, more and more market participants buy or sell shares of the Fund and secondary market liquidity will grow. While all ETFs can be held for prolonged periods or intraday, some ETFs experience more secondary market trading than others.
New Fund Risk. The Fund is newly formed, which may result in additional risk. There can be no assurance that the Fund will grow to an economically viable size, in which case the Fund may cease operations. The Fund may be liquidated by the Board of Trustees (the "Board”) without a shareholder vote. In such an event, investors may be required to liquidate or transfer their investments at an inopportune time.
CONTACT: Marketing@UltimusFundSolutions.com
COD00000731 20250324-4339122
