China Office Profile - Apex Fund Administration Services

16 March 2010

Apex Fund Services Shanghai, China

Apex Investment Consulting (Shanghai) Ltd China Hedge Fund Accounting office
212 JiangNing Road, Catic Mansion,
14th floor - 2B, Shanghai,
PR China, 200041

 

"Apex is the first wholly foreign owned domestic administrator to set up in China."

Anthony D'Silva, Managing Director
Email: anthony@apexfunds.cn
Tel: +852 6402 9883 (Hong Kong)
Tel: +86 13601772443 (China)

Apex opened its office in China in May 2007 and is the first WFOE domestic administrator to set up in the country.

Prior to Apex's arrival fund administration didn't exist in the way the rest of the world understands it. Consequently there is a big learning curve for domestic managers to understand what fund administration is and the benefits it can offer, especially if China is to become a global financial centre.

Change has been dramatic, starting with foreign institutional investors being allowed to trade China listed equities A-Share followed by domestic institutions being allowed to invest in markets outside of China.

 

This was followed recently by Hong Kong receiving approval as the first and only RMB clearing centre. RMB has been a non convertible currency and is controlled by the State Authority of Foreign Exchange (SAFE) for inward and outward payment out of China. Every transaction is monitored via the banks. Following recent agreements signed with countries like Malta and Ireland, investment in offshore domiciled funds is growing. 

With such rapid pace of development and exciting investment opportunities, Apex offers safety nets to its clients and encourages sound governance, risk management and compliance, especially for domestic managers wanting to setup offshore funds.