Product Development

Legal organization of a new retail mutual fund or a non-registered investment vehicle can be time consuming and expensive, with many opportunities for stumbles. Retaining a law firm to handle the process start to finish unassisted by a fund administrator can triple the cost. Nottingham has shepherded the organization process for over 250 funds. Our in-house legal, compliance and regulatory expertise can save you time, money and perhaps most important, missteps in the process. Our specialty is the consultative organization of investment products.

The Process

Nottingham Fund Administration

Nottingham’s product development process begins with an extensive consultation during which we dive into your goals and expectations for a new product. We start by looking at investment strategy, instruments that will be utilized, and target markets. Through a series of time-tested questions, we help the client determine what investment structure is most appropriate to meet the stated goals and expectations. These questions serve a dual purpose as they also provide the framework for the fund’s disclosure documents. Our in-house legal team will work with the client to prepare draft documents, which are submitted to outside legal counsel for review. Final submission of the disclosure documents to the appropriate regulating authority marks the beginning of a waiting period during which much “behind the scenes” work takes place. We can help you define and begin to implement a marketing approach and kick off conversation and negotiation with and on broker-dealer platforms.

Other tasks for completion prior to launch include, but are certainly not limited to:

  • Document revisions to include final comments/changes from the SEC
  • Establish custody account
  • Obtain CUSIPs and Nasdaq symbol(s)
  • Blue Sky registration
  • Manage execution of selling and platform distribution agreements
  • File post-effective with SEC

For ETFs, the process is essentially the same. Nottingham also coordinates and manages:

  • Establishing ETF(s) on an Exchange
  • Securing Lead Market Maker
  • Establishing agreements with Authorized Participants (APs), and, as applicable, index
  • Assistance with service provider contract negotiations, including Auditor and iOPV agent
Schedule a consultation

Trust Solutions

Nottingham works with prospects who see the potential in working in a Series Trust environment, those who wish to organize their own Trust, or fund families that are currently in another series trust but are looking for a more cost efficient or relationship-oriented opportunity.  There are pros and cons for each structure, which we can talk you through. A general comparison of the two structures can be found here. The registration process for a new fund product is generally the same, however, a new Trust will likely take slightly longer for the SEC to recognize.

Learn more about Nottingham’s private-label ETF services.

In light of the SEC’s ETF Rule 6c-11, can a private-label provider still be a value-add?  We believe so. This podcast explains why.

If you are experiencing pains with your current administrator and are considering migrating your fund from one series trust to another, or simply changing administrators, we can help. Our dedicated team will work to ensure a migration that is both seamless to your investors and economical for your firm with the end goal being a more responsive, transparent, efficient experience.

Nottingham News

What Are Actively Managed ETFs?

October 14th, 2020|

Forbes October 12, 2020 Miranda Marquit Most exchange-traded funds (ETFs) are passively managed vehicles that track an underlying index. But about 2% of the funds in the $3.9 billion ETF industry are actively managed. Actively

East Coast-Based Hedge Fund Manager

It is so nice to have an organization that works so hard on our behalf. You have made me feel so comfortable about the transition from my previous provider. I’ve been in business since I was 15 years old, and I have never met a group of people that I liked as much from day one as the folks at Nottingham.

East Coast-Based Hedge Fund Manager

North Carolina-Based Hedge Fund Manager

You guys have never treated me like the small fish that I am. Your team has always done an excellent job for me and my shareholders and for that I’m a very thankful, loyal customer.

North Carolina-Based Hedge Fund Manager

Managing Director, Mutual Fund

Your staff took care of everything perfectly and are a pleasure to work with. We look forward with great anticipation to our next Nottingham visit.

Managing Director, Mutual Fund

Head of Administration, Mutual Fund

The greatest benefit of working with Nottingham is being able to pick up the phone, call, and get a person on the other end. The personal service is everything to us.

Head of Administration, Mutual Fund

Chief Investment Officer, Mutual Fund

Each person that I work with or have worked with over the years is very genuine. They are all well-intended, hardworking people, and I’ve always liked that about Nottingham.

Chief Investment Officer, Mutual Fund

Endowment Advisor, Wachovia Securities

Our relationship with Nottingham has improved the effectiveness and efficiency of what I’ve been able to do for the endowment. There has not been one thing we’ve asked for that they’ve not come up with a way to address our request.

Endowment Advisor, Wachovia Securities

East Coast-Based Hedge Fund Manager

I’ve always been impressed with the depth offered in terms of reporting and customization. They are so accommodating and always handle my report requests in a very timely manner.

East Coast-Based Hedge Fund Manager

Hedge Fund Manager

I looked at 15-20 admin firms, firms all over the country, but when I walked into Nottingham, I knew. I had a very favorable, personable impression from the outset.

Hedge Fund Manager

VP Asset Management, West Coast

What a pleasure talking with you yesterday. I am thrilled to have discovered Nottingham.

VP Asset Management, West Coast