0001398344-18-013088.txt : 20180831 0001398344-18-013088.hdr.sgml : 20180831 20180831160301 ACCESSION NUMBER: 0001398344-18-013088 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 15 FILED AS OF DATE: 20180831 DATE AS OF CHANGE: 20180831 EFFECTIVENESS DATE: 20180831 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ultimus Managers Trust CENTRAL INDEX KEY: 0001545440 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-180308 FILM NUMBER: 181050139 BUSINESS ADDRESS: STREET 1: 225 PICTORIA DRIVE STREET 2: SUITE 450 CITY: CINCINNATI STATE: OH ZIP: 45246 BUSINESS PHONE: 513-587-3400 MAIL ADDRESS: STREET 1: 225 PICTORIA DRIVE STREET 2: SUITE 450 CITY: CINCINNATI STATE: OH ZIP: 45246 0001545440 S000042074 Wavelength Interest Rate Neutral Fund C000130673 Wavelength Interest Rate Neutral Fund WAVLX 497 1 fp0035654_497-xbrl.htm

ULTIMUS MANAGERS TRUST

225 Pictoria Drive, Suite 450

Cincinnati, Ohio 45246

 

FILED VIA EDGAR

 

August 31, 2018

 

U.S. Securities and Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

 

RE:Ultimus Managers Trust (the “Trust”)

File Nos. 333-180308 and 811-22680

 

Ladies and Gentlemen:

 

This letter is being transmitted by the Trust, on behalf of its series, Wavelength Interest Rate Neutral Fund (the “Fund”), pursuant to Rule 497(e) under the Securities Act of 1933, as amended.

 

Pursuant to Rule 497(e), the Trust hereby submits exhibits containing interactive data format risk/summary information based on the risk/return summary information contained in the supplement to the Fund’s Prospectus, as filed on August 10, 2018 (SEC Accession No. 0001398344-18-011627).

 

Please contact me at 513.869.4327 with any questions. Thank you.

 

Sincerely,

 

/s/ Matthew J. Beck

Matthew J. Beck

Secretary

 

EX-101.INS 2 umt-20180810.xml XBRL INSTANCE FILE 0001545440 2018-08-10 2018-08-10 0001545440 umt:S000042074Member 2018-08-10 2018-08-10 iso4217:USD xbrli:pure 497 2017-05-31 Ultimus Managers Trust 0001545440 false 2018-08-10 2018-08-10 2017-09-28 <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">August 10, 2018</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">&#160;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ULTIMUS MANAGERS TRUST</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Wavelength Interest Rate Neutral Fund</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Supplement to the Summary Prospectus, Statutory Prospectus, and</b><br /> <b>Statement of Additional Information, </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>each dated September 28, 2017</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><u>Investment Adviser Change in Control</u></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 1, 2018, Wavelength Capital Management, LLC (the &#8220;<b>Adviser</b>&#8221;) the investment advisor to the Wavelength Interest Rate Neutral Fund (the &#8220;<b>Fund</b>&#8221;), was partially acquired by MANG Investments LLC (&#8220;<b>MANG</b>&#8221;), a wholly-owned subsidiary of LVS Partners Limited (together with MANG and other affiliated entities, the &#8220;<b>GTS Group</b>&#8221;) (the &#8220;<b>Acquisition</b>&#8221;). 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There are no changes to the advisory fees (other than with respect to the provision which provides that the compensation earned under the Interim Advisory Agreement will be held in an interest-bearing escrow account as required by Rule 15a-4 under the Investment Company Act of 1940, as amended), investment objectives, or principal investment strategies of the Fund or composition of the Fund&#8217;s portfolio management team.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At the Meeting, the Board also approved a new investment advisory agreement (the &#8220;<b>Proposed New Advisory Agreement</b>&#8221;) between the Fund and the Adviser, which will be submitted to the shareholders of the Fund for their approval at a shareholders meeting called for that purpose. A proxy statement, along with notice of the shareholder meeting and a proxy ballot with more information regarding the Acquisition and the Proposed New Advisory Agreement, will be mailed to shareholders of the Fund in or around September 2018. The shareholder meeting is anticipated to take place in October 2018. 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The terms of the Interim Expense Limitation Agreement and the New Expense Limitation Agreement are substantially similar to those of the Prior Expense Limitation Agreement. 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The Adviser was formed and commenced operations in March 2013. Subject to the Fund&#8217;s investment objective and policies approved by the Board, the Adviser is responsible for providing the Fund with a continuous program of investing the Fund&#8217;s assets and determining the composition of the Fund&#8217;s portfolio. The Adviser also provides investment advisory services to separate accounts. The Adviser is controlled by Andrew Dassori, Mark Landis and MANG Investments LLC, a wholly-owned subsidiary of LVS Partners Limited (together with MANG Investments LLC and other affiliated entities, the &#8220;<b>GTS Group</b>&#8221;). 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Wavelength Interest Rate Neutral Fund

August 10, 2018

 

ULTIMUS MANAGERS TRUST

 

Wavelength Interest Rate Neutral Fund

 

Supplement to the Summary Prospectus, Statutory Prospectus, and
Statement of Additional Information,

each dated September 28, 2017

 

Investment Adviser Change in Control

 

On August 1, 2018, Wavelength Capital Management, LLC (the “Adviser”) the investment advisor to the Wavelength Interest Rate Neutral Fund (the “Fund”), was partially acquired by MANG Investments LLC (“MANG”), a wholly-owned subsidiary of LVS Partners Limited (together with MANG and other affiliated entities, the “GTS Group”) (the “Acquisition”). As a result of the Acquisition, MANG owns a 50% interest in the Adviser. The GTS Group provides liquidity to investors across financial instruments and throughout the world and is one of the largest NYSE designated market makers.

 

The Adviser does not expect any interruption of the Fund’s daily business as a result of the closing of the Acquisition. The Fund’s portfolio manager with the Adviser, Andrew Dassori, has remained in place and is expected to continue to manage the Fund using the same investment objective and strategies that have been employed for years by the Adviser.

 

Interim Investment Advisory Agreement and Interim Expense Limitation Agreement

 

The Fund’s investment advisory agreement with the Adviser in effect prior to August 1, 2018 (the “Prior Advisory Agreement”) provided for its automatic termination in the event of its assignment. As a result, the completion of the Acquisition resulted in the termination of the Prior Advisory Agreement. At a meeting held on July 23-24, 2018 (the “Meeting”), the Trust’s Board of Trustees (the “Board”) approved an interim investment advisory agreement with the Adviser for the Fund (the “Interim Advisory Agreement”).

 

Under the Interim Advisory Agreement, which became effective on August 1, 2018, the Adviser provides the same advisory services to the Fund on the same terms provided under the Prior Advisory Agreement. There are no changes to the advisory fees (other than with respect to the provision which provides that the compensation earned under the Interim Advisory Agreement will be held in an interest-bearing escrow account as required by Rule 15a-4 under the Investment Company Act of 1940, as amended), investment objectives, or principal investment strategies of the Fund or composition of the Fund’s portfolio management team.

 

At the Meeting, the Board also approved a new investment advisory agreement (the “Proposed New Advisory Agreement”) between the Fund and the Adviser, which will be submitted to the shareholders of the Fund for their approval at a shareholders meeting called for that purpose. A proxy statement, along with notice of the shareholder meeting and a proxy ballot with more information regarding the Acquisition and the Proposed New Advisory Agreement, will be mailed to shareholders of the Fund in or around September 2018. The shareholder meeting is anticipated to take place in October 2018. The Interim Advisory Agreement will terminate upon the earlier of (i) December 29, 2018 or (ii) the date of approval of the Proposed New Advisory Agreement by the shareholders of the Fund.

 

In addition, at the Meeting, the Board also approved an interim expense limitation agreement (the “Interim Expense Limitation Agreement”), and a new expense limitation agreement (the “New Expense Limitation Agreement”) between the Trust, on behalf of the Fund, and the Adviser, because the prior expense limitation agreement for the Fund (the “Prior Expense Limitation Agreement”) terminated with the termination of the Prior Advisory Agreement, and the Interim Expense Limitation Agreement will terminate with the termination of the Interim Advisory Agreement. The terms of the Interim Expense Limitation Agreement and the New Expense Limitation Agreement are substantially similar to those of the Prior Expense Limitation Agreement. The Interim Expense Limitation Agreement became effective on August 1, 2018, and the New Expense Limitation Agreement will be entered into upon shareholder approval of the New Advisory Agreement.

 

In connection with the Acquisition, the changes described below to the Fund’s Statement of Additional Information (the “SAI”) are effective immediately.

 

Changes to the Statement of Additional Information

 

The following replaces the first two paragraphs, in their entirety, under the section “Investment Adviser,” on page 34 of the SAI:

 

Wavelength Capital Management, LLC, located at 250 West 57th Street, 20th Floor, New York, New York 10107, serves as the investment adviser to the Fund pursuant to an Interim Investment Advisory Agreement dated August 1, 2018 (the “Interim Investment Advisory Agreement”). The Adviser was formed and commenced operations in March 2013. Subject to the Fund’s investment objective and policies approved by the Board, the Adviser is responsible for providing the Fund with a continuous program of investing the Fund’s assets and determining the composition of the Fund’s portfolio. The Adviser also provides investment advisory services to separate accounts. The Adviser is controlled by Andrew Dassori, Mark Landis and MANG Investments LLC, a wholly-owned subsidiary of LVS Partners Limited (together with MANG Investments LLC and other affiliated entities, the “GTS Group”). The GTS Group provides liquidity to investors across financial instruments and throughout the world and is one of the largest NYSE designated market makers.

 

The Interim Advisory Agreement will terminate upon the earlier of (i) December 29, 2018 or (ii) the date of approval of a proposed new Advisory Agreement by the shareholders of the Fund. The Interim Investment Advisory Agreement is terminable without penalty on 10 days’ notice by the Trustees or by vote of a majority of the outstanding voting securities of the Fund. The Adviser may, at any time and without any penalty, terminate the Interim Investment Advisory Agreement upon 60 days’ written notice to the Trust and the Fund.

 

There are no changes to the Fund’s investment goal, investment strategies or principal risks as a result of the Acquisition described herein. Andrew Dassori continues to serve as the Fund’s portfolio manager and all investment advisory services continue to be performed from the Adviser’s New York, New York location.

 

For more information, or to obtain a copy of the Fund’s Prospectus or SAI free of charge, please contact the Fund at 1-866-896-9292.

 

Investors should retain this supplement for future reference.

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August 10, 2018

 

ULTIMUS MANAGERS TRUST

 

Wavelength Interest Rate Neutral Fund

 

Supplement to the Summary Prospectus, Statutory Prospectus, and
Statement of Additional Information,

each dated September 28, 2017

 

Investment Adviser Change in Control

 

On August 1, 2018, Wavelength Capital Management, LLC (the “Adviser”) the investment advisor to the Wavelength Interest Rate Neutral Fund (the “Fund”), was partially acquired by MANG Investments LLC (“MANG”), a wholly-owned subsidiary of LVS Partners Limited (together with MANG and other affiliated entities, the “GTS Group”) (the “Acquisition”). As a result of the Acquisition, MANG owns a 50% interest in the Adviser. The GTS Group provides liquidity to investors across financial instruments and throughout the world and is one of the largest NYSE designated market makers.

 

The Adviser does not expect any interruption of the Fund’s daily business as a result of the closing of the Acquisition. The Fund’s portfolio manager with the Adviser, Andrew Dassori, has remained in place and is expected to continue to manage the Fund using the same investment objective and strategies that have been employed for years by the Adviser.

 

Interim Investment Advisory Agreement and Interim Expense Limitation Agreement

 

The Fund’s investment advisory agreement with the Adviser in effect prior to August 1, 2018 (the “Prior Advisory Agreement”) provided for its automatic termination in the event of its assignment. As a result, the completion of the Acquisition resulted in the termination of the Prior Advisory Agreement. At a meeting held on July 23-24, 2018 (the “Meeting”), the Trust’s Board of Trustees (the “Board”) approved an interim investment advisory agreement with the Adviser for the Fund (the “Interim Advisory Agreement”).

 

Under the Interim Advisory Agreement, which became effective on August 1, 2018, the Adviser provides the same advisory services to the Fund on the same terms provided under the Prior Advisory Agreement. There are no changes to the advisory fees (other than with respect to the provision which provides that the compensation earned under the Interim Advisory Agreement will be held in an interest-bearing escrow account as required by Rule 15a-4 under the Investment Company Act of 1940, as amended), investment objectives, or principal investment strategies of the Fund or composition of the Fund’s portfolio management team.

 

At the Meeting, the Board also approved a new investment advisory agreement (the “Proposed New Advisory Agreement”) between the Fund and the Adviser, which will be submitted to the shareholders of the Fund for their approval at a shareholders meeting called for that purpose. A proxy statement, along with notice of the shareholder meeting and a proxy ballot with more information regarding the Acquisition and the Proposed New Advisory Agreement, will be mailed to shareholders of the Fund in or around September 2018. The shareholder meeting is anticipated to take place in October 2018. The Interim Advisory Agreement will terminate upon the earlier of (i) December 29, 2018 or (ii) the date of approval of the Proposed New Advisory Agreement by the shareholders of the Fund.

 

In addition, at the Meeting, the Board also approved an interim expense limitation agreement (the “Interim Expense Limitation Agreement”), and a new expense limitation agreement (the “New Expense Limitation Agreement”) between the Trust, on behalf of the Fund, and the Adviser, because the prior expense limitation agreement for the Fund (the “Prior Expense Limitation Agreement”) terminated with the termination of the Prior Advisory Agreement, and the Interim Expense Limitation Agreement will terminate with the termination of the Interim Advisory Agreement. The terms of the Interim Expense Limitation Agreement and the New Expense Limitation Agreement are substantially similar to those of the Prior Expense Limitation Agreement. The Interim Expense Limitation Agreement became effective on August 1, 2018, and the New Expense Limitation Agreement will be entered into upon shareholder approval of the New Advisory Agreement.

 

In connection with the Acquisition, the changes described below to the Fund’s Statement of Additional Information (the “SAI”) are effective immediately.

 

Changes to the Statement of Additional Information

 

The following replaces the first two paragraphs, in their entirety, under the section “Investment Adviser,” on page 34 of the SAI:

 

Wavelength Capital Management, LLC, located at 250 West 57th Street, 20th Floor, New York, New York 10107, serves as the investment adviser to the Fund pursuant to an Interim Investment Advisory Agreement dated August 1, 2018 (the “Interim Investment Advisory Agreement”). The Adviser was formed and commenced operations in March 2013. Subject to the Fund’s investment objective and policies approved by the Board, the Adviser is responsible for providing the Fund with a continuous program of investing the Fund’s assets and determining the composition of the Fund’s portfolio. The Adviser also provides investment advisory services to separate accounts. The Adviser is controlled by Andrew Dassori, Mark Landis and MANG Investments LLC, a wholly-owned subsidiary of LVS Partners Limited (together with MANG Investments LLC and other affiliated entities, the “GTS Group”). The GTS Group provides liquidity to investors across financial instruments and throughout the world and is one of the largest NYSE designated market makers.

 

The Interim Advisory Agreement will terminate upon the earlier of (i) December 29, 2018 or (ii) the date of approval of a proposed new Advisory Agreement by the shareholders of the Fund. The Interim Investment Advisory Agreement is terminable without penalty on 10 days’ notice by the Trustees or by vote of a majority of the outstanding voting securities of the Fund. The Adviser may, at any time and without any penalty, terminate the Interim Investment Advisory Agreement upon 60 days’ written notice to the Trust and the Fund.

 

There are no changes to the Fund’s investment goal, investment strategies or principal risks as a result of the Acquisition described herein. Andrew Dassori continues to serve as the Fund’s portfolio manager and all investment advisory services continue to be performed from the Adviser’s New York, New York location.

 

For more information, or to obtain a copy of the Fund’s Prospectus or SAI free of charge, please contact the Fund at 1-866-896-9292.

 

Investors should retain this supplement for future reference.

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