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Ullico Bulletin

Ullico Expands Fixed-Income Management Services through UIA

Ullico recently announced that it is expanding its in-house capability and launching UIA Investment Management, LLC (UIA-IM), an affiliated investment platform that will provide focused fixed-income investment management services to institutional fund sponsors. UIA-IM will be based in Chapel Hill, N.C. and is expected to launch with initial assets under management (AUM) totaling approximately $500 million.

"We are pleased to add in-house U.S. fixed-income management to the range of investment services we offer to our union clients. UIA-IM will focus on the unique requirements of Taft-Hartley pension funds and union operating funds, and will also offer customized investment management services to other institutional funds including corporate and public pension funds, endowments and foundations, family offices, and government reserve funds," said Edward M. Smith, President and Chief Executive Officer of Ullico Inc.

The firm will be led by Stephen A. Eason, CFA, a former senior manager at Amundi Smith Breeden, who has over 30 years of investment experience. Julie E. Curd, former Director of Client Service at Amundi Smith Breeden, has also joined the firm.

"Our team is excited to partner with a firm that shares our values and long- term business perspective. Our new company will combine the resources of an established financial services company with an investment team offering a proven track record of success through market cycles," said Mr. Eason, who will serve as President of UIA Investment Management.

Timothy J. Cunneen, CFA, and Daniel R. Adler have also joined UIA-IM and will lead the investment team. Mr. Cunneen will serve as Chief Investment Officer and Senior Portfolio Manager. Mr. Adler will serve as a Senior Portfolio Manager and is also expected to serve on the new company’s Board of Directors.

"As a member of the Ullico family, UIA Investment Management will build on the 30-plus year success of Ullico’s commercial real estate fund known as 'J for Jobs' and the more recent success of the Ullico Infrastructure Fund. Ullico is committed to building a best-in-class fixed-income company that provides tailored solutions to institutional clients," said Joseph R. Linehan, President of Ullico Investment Advisors.

In addition to Eason, Curd, Adler and Cunneen, the UIA-IM team will include: St. John M. Kelliher, CFA, Director of Operations; Anna Griffiths, CFA, Associate Portfolio Manager; and Kristie Hannemann, CFA, Research and Information Systems Manager. Kelliher, Griffiths, and Hannemann are all former employees of Amundi Smith Breeden.

In the short term, the UIA-IM team will be employees of UIA and will begin managing assets before year- end. The firm plans to formalize the UIA-IM affiliate structure in early 2019.

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