Caldwell & Orkin
recently replaced its transfer agent and distributor, hiring ALPS
as its new vendor.
Norcross, Georgia-based Caldwell & Orkin, which runs the $390 million Caldwell & Orkin Market Opportunity
replaced JPMorgan Fund Services
ALPS Fund Services
in February. It moved from IFS Fund Distributors
to ALPS Distributors
On the transfer agency side, Caldwell had been a client of Integrated Investment Services (formerly Integrated Fund Services), which in 2007 was purchased by JPMorgan from Western & Southern Financial. That deal did not include IFS Fund Distributors. In January 2008, Western & Southern told IFS Fund Distributors clients to look for a new vendor because the distribution organization was shutting down at the end of 2009.
Caldwell evaluated both distributor-only options and full-service providers, said Bill Horne
, chief compliance officer and director of client services.
On the distributor-only side, ALPS and two others made the finals. For the full-service, it came down to ALPS and one other company. Horne declined to identify the other finalists.
"We've been with one company for a long time," Horne said, noting the synergies and economies of scale that come with dealing with just a single provider.
"ALPS has a good technology platform," said Horne. "It integrates all the pieces."
"They were very efficient during the conversion process. All the I's were crossed and T's were dotted," he added.
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