The launch brings together two of Germany's leading financial institutions: DONNER & REUSCHEL, the Hamburg- and Munich-based private bank acting as custodian, and HANSAINVEST, the fund administration specialist – with Ultumus providing the underlying operational infrastructure.
Ultumus will deliver PCF (portfolio composition file) calculation and distribution through its dedicated service for HANSAINVEST, and create/redeem processing via its COSMOS platform for DONNER & REUSCHEL. The initial launch covers one equity ETF, with further ETF share classes planned across the remainder of 2026.
The partnership reflects a broader trend of established German asset managers and fund administrators exploring the ETF wrapper as a distribution and liquidity vehicle for existing fund strategies – without the need to establish entirely new fund structures.
Bernie Thurston, CEO at Ultumus: “More and more ETF issuers across Europe are selecting COSMOS as the platform they build on – DONNER & REUSCHEL and HANSAINVEST are a natural fit. When institutions want operational excellence and a proven infrastructure partner, Ultumus is where they land.”
Horst H. Schmidt, CEO at DONNER & REUSCHEL: “With the custody of active ETFs we are strategically broadening our Asset Servicing capabilities. As a depositary strongly focused on boutique fund structures, we see particular potential in the growing market for active ETFs. These exchange-traded funds combine the best of both worlds: they aim to generate outperformance through active management while at the same time offering the key benefits of ETFs, such as liquidity, transparency, and efficient market access.”
Jörg W. Stotz, CEO at HANSAINVEST: “We want to shape the future through our work. That is why we aim to be pioneers in active ETFs in Germany. To achieve this, we collaborate with partners who share our ambition and have demonstrated values such as precision and pragmatism. Both DONNER & REUSCHEL and Ultumus embody these qualities.”
The partnership includes two of Germany's leading financial institutions – DONNER & REUSCHEL as custodian and HANSAINVEST as fund administrator – as well as Ultumus as the operational infrastructure provider. While this launch sees the three firms working in concert, both DONNER & REUSCHEL and HANSAINVEST will continue to leverage Ultumus infrastructure independently across other ETF mandates.
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About Ultumus
Ultumus is a leading provider of ETF and index data, calculation, and workflow solutions.
Owned by SIX Group, which operates the SIX Swiss Exchange and BME Exchange in Spain, Ultumus delivers essential infrastructure to the global ETF ecosystem. Since launching in 2016, Ultumus has built technology-enabled solutions that capture, normalise, enrich, and distribute data daily for over 14,000 ETFs and 3 million indices. Trusted by asset managers, issuers, and authorised participants worldwide, Ultumus is headquartered in London with offices in Singapore and Hawaii. For more information, visit www.ultumus.com, follow Ultumus on LinkedIn, or contact us at BDR@ultumus.com.
About DONNER & REUSCHEL
For Bankhaus DONNER & REUSCHEL, the financial subsidiary of SIGNAL IDUNA, work more than 600 employees at six locations in Germany as well as in Luxembourg. In addition to the Private Banking, Entrepreneur and Real Estate client segments, the Asset Servicing division – including the Financial & Real Assets depositary services – is one of the bank’s strategic business areas. DONNER & REUSCHEL safeguards assets of around €33 billion euros (Assets under Custody) across more than 300 fund mandates. This core business area has been continuously expanded in terms of personnel and infrastructure in recent years. The bank was founded in 1798 as Conrad Hinrich Donner Bank. In 1990, the SIGNAL IDUNA Group joined as a strong partner and shareholder. Following its merger with the Munich-based Bankhaus Reuschel & Co. in 2010, the traditional institution has operated under the name DONNER & REUSCHEL AG.
About HANSAINVEST
HANSAINVEST Hanseatische Investment-GmbH was founded in 1969 and is part of the SIGNAL IDUNA Group. As an independent full-service and institutional master investment management company for real and financial assets, the Hamburg-based company provides a wide range of services relating to the administration of liquid and illiquid asset classes. The company is headquartered in Hamburg and also maintains a branch office in Frankfurt am Main. HANSAINVEST is also represented in Luxembourg through a subsidiary. Currently, around 400 employees administer more than 540 public and special funds with gross fund assets of over €67 billion. HANSAINVEST's goal is to give its partners the opportunity to invest meaningful. In this way, HANSAINVEST transforms capital into opportunities to shape a positive future.