Pear Tree Advisors, a U.S. manager, has appointed UMB Fund Services to provide fund accounting and global custody services for its mutual funds. UMB will provide global custody through its institutional custody division, while the fund services division will also provide tax and reporting services to Pear Tree’s six funds, which have USD5bn AuM.
UMB Fund Services has also been appointed to provide fund accounting, tax reporting and fund administration services for Alternative Fund Advisors, a start-up private equity fund, with UMB Bank providing custody services. UMB will service the AFA Multi-Manager Credit Fund, AFA’s first registered closed-end interval fund. Founded in 2020, AFA offers institutional-quality private investment strategies in an interval fund format to registered investment advisors, family offices, and wealth advisors at private banks.