2013-01-24 13:25:56 -
Apex Fund Services, one of the world’s largest independent fund administration companies, announces its continued expansion into the LatAm markets with the opening of its new office in Montevideo, Uruguay.
This latest office opening re-affirms Apex’s commitment to LatAm where the hedge fund sector is expanding rapidly in line with the growth of the region’s economies. Investors are seeking high-quality fund managers to provide them with entry to the region and to enable them to take advantage of the trade free zones for foreign direct investment.
Similarly to the Apex Miami office, which opened in June 2012 and is successfully linking US managers to LatAm, Apex Uruguay will now play a key role in opening up the territory to the world’s fund
managers. With operating costs for asset managers lower in Uruguay than in Brazil, outsourcing to Apex provides independence and cost savings both of which, as staffing costs grow, significantly benefit the bottom line for managers.
Allocations are increasing across LatAm with investors seeing relative value in Chile, Colombia, Mexico and Peru, with Brazil the fundamental growth driver for the region.
Peter Hughes, Group Managing Director, Apex Fund Services Ltd., said:
“Apex’s total fund solutions are now available in every continent in the world. Our Global Reach, Local Presence strategy is now reaching deep into LatAm as Apex’s full range of fund products and services are made available to both local and offshore fund managers.
“Accuracy and trust are paramount when servicing funds. Wherever clients see the Apex logo they can be 100% certain of receiving the same high levels of reliable and personalized fund services anywhere around the world. We look forward to introducing Apex’s industry leading fund services to LatAm.”
Keith Mahon, Managing Director, Apex Fund Services (Uruguay) S.A., said:
“For local asset managers to attract capital from international institutional investors they require cost effective Order Management, Portfolio Management systems and Middle Office services as well as best practice fund administration. Apex’s arrival to Uruguay brings the potential for the phasing out of in-house accounting and reporting via Excel in favour of Apex’s transparent, cost effective and accurate technologies.”
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