Apex sees 40 per cent increase in AUA in past 12 months
Apex Fund Services has seen growth of over 40 per cent in both the number of funds the firm services and the total of assets under administration (AUA), which now stands at over USD45 billion.
Amplitude Capital is one of the latest fund providers to turn to Apex for administration services for the offshore funds it manages, which total over USD1.5 billion in assets under management.
Apex, which has operations in Switzerland, the UK and the Cayman Islands, has always proved popular for new fund launches, however an equal proportion of the growth at the firm over the past twelve months has come from winning mandates from managers with assets under management in excess of USD1 billion, including Amplitude.
Bill Salus, Chief Executive Officer at Apex, says: “Apex has experienced rapid growth across many of its geographical areas over the last few years. The importance of working with an independent administrator with physical representation in over 26 countries is now being fully recognised by managers all over the world.
“Being able to offer entirely impartial advice from highly experienced teams in all of the world’s major financial centres is at the heart of the Apex high service levels. I would like to welcome Amplitude Capital and all of our new clients as we make the same service commitment to them as our existing clients.”
John Harrison, Group CFO, Amplitude Capital, adds: “Our decision to appoint Apex UK to manage our administration requirement was down to the willingness within the organisation to provide Amplitude Capital with a personalised and highly tailored service from a dedicated team, something often overlooked by administration businesses. In this fast changing environment, managers need more than simple ‘off the shelf products’. We were attracted to Apex’s flexible approach and look forward to a close working relationship.”
