London, UK 19 December, 2011 Apex Fund Services ("Apex"), one of the world’s largest independent fund administration companies, announces that Apex Fund Services (UK) Limited has received authorization from the UK’s Financial Services Authority ("FSA").

Apex is now one of a small number of administrators in the UK that has the necessary approvals to provide independent administration services to regulated collective investment schemes domiciled in the UK. Importantly all UK based investment managers can now be serviced locally by Apex from London.

Leading the growth of the London office is Colin Targett who joins the Company from Standard Bank in Jersey where he was head of valuations. Colin is a highly experienced fund administrator having formerly been Vice President at BISYS (now Citi). After qualifying as a chartered accountant he joined KPMG Bermuda in 1998 to specialize in the audit and accounting of alternative investments funds.

Commenting on the authorization, Peter Hughes, Group Managing Director said:

"With offices in most of the world’s financial centres the timing is now right for Apex to launch in the UK. The economic uncertainty is making high quality levels of service and innovative products more and more valuable to investment managers. Receiving FSA authorization demonstrates this is precisely what Apex offers its clients.

"Our strategy of global reach, service locally continues to drive the successful growth of the Company and we look forward to Colin bringing his own extensive experience to Apex."

Commentating on his appointment, Colin Targett, Managing Director of Apex Fund Services (UK) Ltd said:

"Since its launch eight years ago I have monitored Apex’s rapid growth and personal approach to client servicing. Opportunities to launch an office in London for a fast growing global company don’t come round often.

"I am delighted to be joining the team and overseeing the expansion of the UK office. With asset managers seeking to explore more alternative investment strategies than ever before, Apex is the perfect partner for any manager looking for assistance and specialist expertise."

Apex secured a $30 million commitment from FTV Capital in June 2011 to accelerate its model of delivering an increasing range of client service orientated products into the world’s major financial centres.

Apex has 24 offices worldwide and delivers global fund administration solutions to investment managers investing in traditional and alternative assets. Apex offers clients a wide variety of specialized and integrated products supporting middle and back office fund administration, complex derivatives, risk reporting and corporate secretarial and fund formation administration, as well as specialist start up services to asset managers.

Apex Fund Services Holdings Ltd. Peter Hughes, Group Managing Director +44 7780 997609 peter@apex.bm

Mark Way, Corporate Communication +44 7786 116991 mark@apexfunds.co.uk

About Apex Fund Services

Apex Fund Services is one of the world’s largest independent fund administration companies. With nearly $20 billion of assets under administration and 200 employees in 23 offices across the globe, the Company’s growth is very much at the heart of Apex’s philosophy of providing personalized fund administration services by being based in the same location as its clients.

Apex provides the full suite of products and services, including fund set up, portfolio valuations, fund accounting, shareholder services, corporate secretarial administration, directorships and listing sponsorship. Apex offers a number of platforms including, Bermuda Emerging Manager platform (for small or start up funds), Luxembourg SIF platform, Luxembourg UCITS platform, Luxembourg Shariah platform (fully Shariah compliant) and the Malta PIF platform. For more information, please visit www.apexfundservices.com.