New York: 23 September 2010: Apex Fund Services, the leading, independent global fund-administration business, announces the launch of the world’s first ever Middle Office fund administration service (MOOR) that gives hedge funds a real-time portfolio management system.

Apex has licensed Nirvana Solutions Software as a Service (SaaS) platform to provide hedge fund managers of all sizes with bespoke, real-time risk and profit & loss information services. At the touch of a screen Nirvana will provide a fully hosted and managed interface for hedge fund managers, whilst Apex, via its global network, will provide a suite of reconciliation and administration services in real-time.
In addition to ensuring managers fulfil their compliance and regulatory requirements in a more transparent way, Apex’s MOOR (Middle Office Operational Risk) service allows hedge fund managers to mitigate portfolio risk, counterparty risk and operational risk within one solution.

Importantly, the real-time Middle Office Service will reduce operational costs significantly whilst also increasing transparency and enabling greater risk management. The service is free to existing investment manager clients as it can be seamlessly integrated into existing Apex services.

Peter Hughes, Managing Director of Apex Fund Services, commented:
“Once again Apex has demonstrated its ability to provide cutting-edge and value-adding services to our clients with the launch of the world’s first real-time Middle Office service. Working with Nirvana we continue to empower fund managers by absorbing many of their administration duties allowing them to focus on what they do best; investing.
”This launch re-affirms the power of Apex’s global network and how it is leveraged to provide the most advanced and tailor-made services to its clients.
“Interest shown in our real-time administration service has already exceeded expectations and we remain committed to providing a growing range of services to our increasing number of clients.”
Steve Lewczyk, Co-founder, Nirvana Solutions, commented:
“We are delighted to be working with Apex to ensure that its hedge fund clients have continued access to state-of-the-art, affordable, real time risk and portfolio management solutions. By combining Nirvana’s software with Apex’s global reach, hedge funds of all sizes and geographies can experience the operational benefits and cost advantages of real time solution for managing risk, growth and compliance.”


For further information:
Apex Fund Services Limited Peter Hughes,
Managing Director
+1 441 292 2739
peter@apex.bm

Mark Way,
Corporate Communication
+44 7786 116991
mark@apex.bm
www.apexfundservices.com

Nirvana Solutions
Steve Lewczyk,
Chief Executive +1 212 768 3410
steve.lewczyk@nirvanasolutions.com
www.nirvanasolutions.com

Overview of real-time Middle Office service
• Real-time application
• Automated trade entry and trade allocation
• Day end file generation to prime brokers
• Real-time P&L and exposure calculations
• Real-time drag & drop user interface
• Fully managed and hosted solution