The chief of an east coast mutual fund back office shop is preparing to bring a key service in-house. He's also hiring.
| Frank "Kip" Meadows|
Nottingham Fund Administrators
CEO Kip Meadows
confirms that he's planning for the Rocky Mount, North Carolina-based firm to take over the fund accounting and transfer agency work for the ETFs they support, just as Nottingham already does for traditional mutual funds. They'll start with a pair of ETFs expected to launch soon. After that, "the game plan" is to take over fund accounting and transfer agency for their other supported ETFs later this year, Meadows tells MFWire
the ETF business in 2017 with the launch of an RIA, OBP Capital
, to get exemptive relief to handle active ETFs for Nottingham allies. Since then, Meadows and his team have outsourced accounting and transfer agency to BNY Mellon
. He sees increasing fundster interest in ETFs.
"There's been an increase in ETF inquiries," Meadows says. "There are some advisors that are sticking their toes in the water, maybe they're ready to stick their foot in the water."
"We're very excited about it," Meadows adds. "We solved some of the operational issues that are different for ETFs."
Meadows currently has a team of about 40 people, he confirms, and they work with about $26 billion for about 150 different portfolios. The firm is in a "steady, linear, nice upswing," he says.
"We're always hiring fund accountants," Meadows says. "We're probably going to add somebody in our TA group."
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