Beese Fulmer Investment Management, Inc. Partners with Alta Trust to Launch Beese Fulmer Collective Investment Trust and Beese Fulmer Quality Equity Fund
CANTON, Ohio, Nov. 16, 2023 -- Beese Fulmer Investment Management, Inc. (Beese Fulmer), a private wealth management firm that offers customized investment solutions to high-net-worth individuals, families, foundations, and endowments, announced today that it will be the sub-advisor for the Beese Fulmer Collective Investment Trust which includes the Beese Fulmer Quality Equity Fund (CIT). The CIT is a pooled investment vehicle designed for eligible retirement plans, such as 401(k) and 457(b) plans, that seeks to provide long-term capital appreciation by investing in high-quality U.S. companies.
"We are honored to partner with Alta Trust, a leading provider of collective investment trusts, to offer our quality equity strategy to retirement plan sponsors and participants," said Ryan Fulmer, President and Portfolio Manager at Beese Fulmer. "We believe our disciplined and consistent approach to investing in companies with strong balance sheets, durable competitive advantages, and attractive valuations can deliver superior risk-adjusted returns over time."
Collective investment trusts have gained popularity in the retirement space in recent years, as they offer several benefits for plan sponsors and participants, such as lower fees, fiduciary oversight, customization, and diversification.
- Lower fees: CITs typically have lower operating and administrative costs than mutual funds, as they are subject to less regulatory and reporting requirements. Lower fees can enhance the net performance of the investment and increase the retirement savings of participants.
- Fiduciary oversight: CITs are overseen by a trustee, which is a bank or trust company that acts as a fiduciary for the investors. The trustee ensures that the CIT is managed in accordance with its stated objectives and in the best interests of the participants.
- Customization: CITs can be tailored to meet the specific needs and preferences of plan sponsors and participants, such as offering different share classes, fee structures, and investment options.
- Diversification: CITs can invest in a wide range of asset classes and strategies, including alternative investments, target date funds, and environmental, social, and governance (ESG) factors. CITs can provide plan sponsors and participants with access to diversified and sophisticated investment solutions that may not be available in mutual funds.
According to a report by Cerulli Associates, a global research and consulting firm, CITs accounted for 30.1% of all assets in defined contribution plans as of the end of 2019, up from 13% in 2009. The report also projected that CITs will overtake mutual funds as the most popular target date vehicle in the next two years.
The Beese Fulmer Quality Equity CIT is available to eligible retirement plans through Alta Trust, a South Dakota-chartered trust company that specializes in creating and administering CITs. Alta Trust has established distribution agreements with every major retirement platform in the country, allowing plan sponsors and participants to access CITs with ease and convenience.
For Professionals Only. CITs are not FDIC insured. May lose value. No bank guarantee.