Category Archives: UMB Bank

Hamilton Lane Selects UMB Fund Services as Administrator of Firm’s First U.S. Registered Closed-End Fund

Hamilton Lane Selects UMB Fund Services as Administrator of Firm’s First U.S. Registered Closed-End Fund

February 9, 2021

MILWAUKEE (Feb. 9, 2021) – UMB Fund Services, Inc. (UMBFS), a subsidiary of UMB Financial Corporation (Nasdaq: UMBF), is pleased to announce that it has been retained to provide fund administration, accounting, transfer agency, distribution* and custody* services for the Hamilton Lane Private Assets Fund (PAF), which merged from a private to registered product to become the firm’s first U.S. evergreen fund.

“We are pleased to continue providing services to Hamilton Lane following the conversion of the firm’s private fund into a registered product,” said Maureen Quill, executive vice president, executive director of registered funds at UMB Fund Services. “We look forward to supporting the growth of Hamilton Lane’s Private Assets Fund with our expertise as the firm markets the fund to qualified clients.”

Hamilton Lane (NASDAQ: HLNE), founded in Philadelphia in 1991, is a private markets investment management firm providing innovative solutions to sophisticated investors around the world. The PAF broadens accessibility to qualified U.S. investors. Compared to traditional private market offerings, the fund features a lower minimum investment of $50,000 and simple 1099 tax reporting; targets fee-efficient investments; and provides the potential for attractive risk-adjusted returns and limited administrative burden.

“We are pleased to have UMB Fund Services as a key service provider for PAF,” said Fred Shaw, Chief Risk Officer at Hamilton Lane. “UMB Fund Services’ expertise across registered closed-end funds, coupled with their high-touch service, will help us offer the fund to a broader set of U.S. investors seeking access to the private markets.”

UMBFS ranked as the top transfer agency for U.S. registered closed-end funds based on the number of accounts serviced in the 2020 Mutual Fund Service Guide. In 2019, UMBFS was named Best Interval Fund Administrator in the Fund Intelligence Operations and Services Awards.

UMB Fund Services is a subsidiary of UMB Financial Corporation, offering a complete line of products and services to the fund industry, including fund administration, fund accounting, tax, investor services and transfer agency, distribution* and custody*.

About Hamilton Lane:

Hamilton Lane (NASDAQ: HLNE) is a leading alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. Dedicated to private markets investing for 29 years, the firm currently employs over 400 professionals operating in offices throughout North America, Europe, Asia-Pacific and the Middle East. Hamilton Lane has approximately $657 billion in assets under management and supervision, composed of approximately $76 billion in discretionary assets and approximately $581 billion in advisory assets, as of December 31, 2020.  Hamilton Lane offers a full range of investment products and services that enable clients to participate in the private markets asset class on a global and customized basis. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on Twitter: @hamilton_lane.

About UMB:

UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Missouri. UMB offers commercial banking, which includes comprehensive deposit, lending and investment services, personal banking, which includes wealth management and financial planning services, and institutional banking, which includes asset servicing, corporate trust solutions, investment banking, and healthcare services. UMB operates branches throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, and serves business and institutional clients nationwide. For more information, visit UMB.com, UMB Blog, UMB Facebook and UMB LinkedIn, or follow us on Twitter at @UMBBank. For information about UMB’s operations, approach and relief measures during the COVID-19 pandemic, please visit https://more.umb.com/covid-info/.

 

*Services provided by UMB Distribution Services, LLC and UMB Bank, n.a.

Bow River Capital Selects UMB Fund Services as Administrator of Firm’s First Registered Closed End Interval Fund

Bow River Capital Selects UMB Fund Services as Administrator of Firm’s First Registered Closed End Interval Fund

January 7, 2021

MILWAUKEE (Jan. 7, 2021) – UMB Fund Services (UMBFS), a subsidiary of UMB Financial Corporation (Nasdaq: UMBF), is pleased to announce that it has been retained to provide fund administration services for Bow River Capital’s Evergreen Fund. The Bow River Capital Evergreen Fund is the firm’s first registered product.

“We are pleased to evolve our relationship with Bow River following the conversion of its private equity fund into a registered fund,” said Maureen Quill, executive vice president, executive director of registered funds at UMB Fund Services. “We look forward to supporting Bow River’s continued growth with our high-touch client service and expertise in all facets of registered fund administration.”

The partnership expands Bow River’s relationship with UMB Financial Corporation. UMB Bank, n.a., a subsidiary of UMB Financial Corporation, has provided a subscription line of credit and serves as trustee for Bow River Capital Real Estate Fund II. The bank also financed real estate assets held in the fund and currently maintains deposits for the fund.

As one of Denver’s largest private alternative asset management companies, Bow River is continuing to expand its investment focus in the lower middle market in three asset classes, including private equity, real estate and software growth equity.

“We are excited to partner with UMB Fund Services for fund administration of the Bow River Capital Evergreen Fund,” said Jeremy Held, managing director at Bow River. “We feel confident UMB Fund Services is the best fit to provide personalized service and embrace our commitment to offering a unique private equity solution to a wider investor base.”

UMBFS has been servicing registered investments for decades and the partnership with Bow River adds to its continued growth in the registered private equity fund space.

UMBFS also ranked as the top transfer agency for U.S. registered closed end funds based on the number of accounts serviced in the 2020 Mutual Fund Service Guide. In 2019, UMBFS was named Best Interval Fund Administrator in the Fund Intelligence Operations and Services Awards.

UMB Fund Services is a subsidiary of UMB Financial Corporation, offering a complete line of products and services to the fund industry, including fund administration, fund accounting, tax, investor services, and transfer agency, distribution* and custody*.

About Bow River Capital:

Founded in 2003, Bow River Capital is a private alternative asset management company based in Denver, Colorado, with Buyout, Real Estate, and Software Growth Equity platforms. The Bow River Capital funds focus on the lower middle market across a geographic area referred to as Bow River Capital’s Rodeo Region®, which encompasses the Rocky Mountains and surrounding states. Collectively, Bow River Capital has deployed capital into diverse industries, asset classes, and across the capital structure.

About UMB:

UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Missouri. UMB offers commercial banking, which includes comprehensive deposit, lending, and investment services, personal banking, which includes wealth management and financial planning services, and institutional banking, which includes asset servicing, corporate trust solutions, investment banking, and healthcare services. UMB operates branches throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona, and Texas, and serves business and institutional clients nationwide. For more information, visit UMB.com, UMB Blog, UMB Facebook, and UMB LinkedIn, or follow us on Twitter at @UMBBank. For information about UMB’s operations, approach, and relief measures during the COVID-19 pandemic, please visit https://more.umb.com/covid-info/.

*Services provided by UMB Distribution Services, LLC and UMB Bank, n.a.

Pandemic offers lessons, encouragement in adapting to a new normal

Pandemic offers lessons, encouragement in adapting to a new normal 

September 21, 2020 | Jim Rine, President & CEO of UMB Bank

Since March, I’ve been able to step back and analyze where we — and other companies — have the opportunity to make proactive shifts to positively impact our associates, customers and business operations during this challenging time. While there are many, a few that stand out to me include adjusting our workforce, adapting our service and business development models, and shifting our culture to meet today’s reality. 

Adjusting our workforce
In mid-March, as many Americans started working from home, most companies had to reevaluate their workforce. This included how their finance department operated, how essential in-office employees would continue to work and how those who needed to work remotely could do so. During this time, many companies found inefficiencies in operations and ways to improve what was long-considered normal operating procedures. 

I’ll be honest, before the Covid-19 pandemic, I wasn’t a big believer in working from home. In banking, so much of our success is based on the relationships we build with our customers, prospects, communities and with each other. I struggled with the idea that any of this could be done from home, even with the technology that exists today. 

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The New Approach to Inflation

The New Approach to Inflation

September 14, 2020 | James Carlile and Francis Scheuerman | UMB Blog

Federal Reserve (Fed) Chair Jerome Powell is not the only American who had his vacation canceled this summer. The central bank’s annual policy symposium, traditionally held in Jackson Hole, Wyoming, was instead held virtually during the last week of August. Powell announced in his speech a new approach to policy that takes a more relaxed stance on inflation. The announcement came out of a comprehensive policy review which will occur every five years going forward.

The Fed will seek inflation that averages 2% over time, a step that implies allowing for periods of overshoots. He also announced that the assessment of the labor market will emphasize that maximum employment is a broad-based and inclusive goal. Powell stated, “This change reflects our appreciation for the benefits of a strong labor market, particularly for many in low- and moderate-income communities.”

In his speech, Powell noted three factors that led to this decision:

• The potential longer run growth rate has declined
• The general level of interest rates has declined along with expectations for the neutral fed funds effective rate
• A record long economic expansion led to the best labor market in some time, but did not trigger a sustained level of inflation

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Why Your Nonprofit Would Benefit from an Endowment

Why Your Nonprofit Would Benefit from an Endowment

August 27, 2020 | Alicia Beck | UMB

As universities and schools start to finalize back-to-school plans, many are leaning on their endowments during the current economic downturn. During the 2008-2009 financial crisis, nearly half of all institutions reported increasing their endowment spending amid financial challenges, while others shied away from spending their long-term funds in order to save for the future. Already in the first quarter of 2020, returns from college endowments are down, with smaller endowments taking the bulk of the hit.

We haven’t seen the full effects of how this pandemic will impact endowments, however it’s safe to say that it could have a lasting effect on philanthropy and giving to higher education. Endowments can help support nonprofits through that recovery.

What is an endowment?

An endowment can help any nonprofit, no matter the size of the organization or the amount of money, by establishing an ongoing stream of income to help prepare for and offset future expenditures.

Although most people have an understanding of the word, few know the real impact that an endowment can have. Unlike a general donation, an endowment is established for a nonprofit organization to use the income for a specific purpose. Endowments are able to grow donations as investments and provide additional income for the nonprofit’s cause.

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