Fund administration company Apex Fund Services has opened an office in San Francisco.
The ongoing expansion of the Apex Global Network around concentrations of fund managers meant San Francisco was the logical choice to base its West coast business development team.
The increasing regulatory burden has forced investment managers to spend more time on compliance and less on managing their portfolios and raising new investor money. Apex brings specific solutions to these US circumstances particularly to mid-sized funds adversely affected by Dodd Frank.
West coast managers will be the next global jurisdiction to benefit from Apex’s front office software and technology, risk and reporting and full back office fund accounting and transfer agency services and specialist outsourcing middle office services.
Peter Hughes (pictured), group managing director, Apex Fund Services, says: "Apex’s global footprint continues to make its mark on the international fund industry as we bring to bear our full range of fund administration products and services to the high concentration of investment managers in the San Francisco area.
“The geographical spread of the US fund industry requires Apex to make a significant commitment to the jurisdiction. With the scale of the market and its obvious demand for our technologies and turnkey services, we fully expect the San Francisco office to make a significant impact with local managers.”