Press Releases

APEX WINS $1 BILLION CLIENT FOLLOWING APPROVAL TO SERVICE UK AUTHORISED FUNDS

10 January 2013

 

APEX WINS $1 BILLION CLIENT FOLLOWING APPROVAL TO SERVICE UK AUTHORISED FUNDS

                                                                                                     

Apex Fund Services, one of the world’s largest independent fund administration companies, announces that WAY Fund Managers, the UK provider of fund hosting services to the wealth management sector, has selected Apex to service all of its 47 funds with combined assets under management of over $1 billion.

 

Having received UK regulatory approvals, Apex is one of a few global fund administrators with the capability to provide services to UK managers with both UK authorised and offshore funds in the same location.

 

As part of a collaboration agreement, Apex and WAY Fund Services are to begin cross selling each other’s services. Apex will introduce clients to WAY Fund Managers’ platform and at the same time offer its Order Management System (OMS) and Portfolio Management System (PMS) technologies to WAY clients.

 

With its Global Reach, Local Presence strategy including 28 offices worldwide and full suite of products ranging from fund launch services, technologies, middle office and administration services, Apex is now fully recognised as a Total Fund Solutions provider, making it unique within the global fund services industry.

 

Apex, which has grown nearly 200% in the last three years, is experiencing a growing number of fund managers seeking independent advice about how to structure and manage their fund in the most cost effective way without having to use multiple providers.

 

Peter Hughes, Managing Director, Apex Fund Services Ltd., said:

 

“We are delighted to be working with WAY Fund Managers. Their decision to appoint Apex reflects our willingness to pledge significant resources to develop specialist systems and acquire both accounting and administration expertise to ensure our clients’ needs and requirements are always fully met.

 

“The Apex Total Fund Solutions model offers fund managers an alternative from paying too much for poor service levels and an opportunity to work with a trusted advisor that has a commitment to providing its clients with personalised products and services at realistic prices.”

 

Peter Hugh-Smith, Chief Executive, WAY Fund Managers, said:

 

“After several years where the large administration companies had a stranglehold on the market, there are now a number of new and innovative administrators offering advanced, contemporary services into the marketplace.

 

“Apex is one of these firms and we look forward to benefiting from their personal and efficient team, as well as exploring opportunities to grow our businesses together.”

Apex Fund Services Holdings Ltd.

Peter Hughes, Group Managing Director                               +44 7780 997609

peter@apex.bm

 

Mark Way, Corporate Communications                                                 +44 7786 116991

mark@apex.bm

 

WAY Fund Managers

Peter Hugh-Smith, Chief Executive                                          +44 7919 145421

peterhughsmith@waygroup.co.uk

 

 

About Apex Fund Services

Apex Fund Services is one of the world’s largest independent fund administration companies with over $23 billion of assets under administration, 28 offices and over 300 employees across the globe.

The Apex Global Network is at the heart of the Company’s strategy of being located alongside its clients. Apex’s Global Reach, Local Presence ensures cross-jurisdictional solutions and best practice, providing the highest levels of personalised services to the global fund industry.

Apex provides the full suite of products and services, including fund set up, portfolio valuations, fund accounting, shareholder services, corporate secretarial services, directorships and listing sponsorship. Apex’s Middle Office services can reduce clients’ costs by up to 50%.

Apex offers a number of platforms including, US Emerging Manager, Bermuda Emerging Manager (for small or start up funds), Luxembourg SIF, Ireland UCITS and QIF, Luxembourg UCITS, Luxembourg Shariah and the Malta PIF.