Apex Fund Services today announced its biggest growth month in the firm’s history by taking on $2.7bn USD worth of new business in June 2016, 60% of which was converted from other fund administrators.
Apex Fund Services has delivered its largest month on record for new business since its establishment in 2003. The Apex Group has added 36 funds to its client base in June with an average fund size of $75m USD, demonstrating its position as one of the world’s leading independent fund administrators. This equates to a 7% increase in assets under administration (AuA) within the past month alone. The Apex Group has also moved into the top 20 fund administrators globally by two well respected independently verified industry surveys based on data prior to the June growth.
Peter Hughes, Founder & Chief Executive Officer, Apex Fund Services, said:
“We’ve faced a tough time as an industry over the past twelve months, with the last month (June 2016) being particularly challenging throughout global markets following the Brexit vote. During this difficult time the combined efforts of the Apex Group’s dedicated administration teams across the globe means we have been able to continue to add 287 funds to our business as well as delivering a record month of new business in June, the majority of which has come through converting clients from our competitors. The team’s ability to provide global solutions in support of asset managers in challenging markets, has meant we are proving our position in the market as the first choice independent administrator on a global basis.”