Apex Fund Services (UK) Limited has received authorisation by the UK’s Financial Services Authority (FSA) as a Fund Operator.

As a Fund Operator, Apex’s UK office is now one of a small number of administrators in the country that is authorised to provide independent administration services to regulated collective investment schemes domiciled in the UK. Importantly all UK based investment managers will be serviced locally from London.
 
Leading the growth of the London office is Colin Targett who joins the Company from Standard Bank in Jersey where he was head of valuations. Colin is a highly experienced fund administrator having formerly been Vice President at BISYS (now Citi). After qualifying as a chartered accountant he joined KPMG Bermuda in 1998 to specialise in the audit and accounting of alternative investments funds.
 
Commenting on the authorisation, Peter Hughes, Group Managing Director says: “With offices in most of the world’s financial centres the timing is now right for Apex to launch in the UK. The economic uncertainty is making high quality levels of service and innovative products more and more valuable to investment managers. Receiving FSA authorisation demonstrates this is precisely what Apex offers its clients.

“Our strategy of global reach, service locally continues to drive the successful growth of the Company and we look forward to Colin bringing his own extensive experience to Apex.”

Targett, Managing Director of Apex Fund Services (UK) Ltd, says: “Since its launch eight years ago I have monitored Apex’s rapid growth and personal approach to client servicing. Opportunities to launch an office in London for a fast growing global company don’t come round often.

“I am delighted to be joining the team and overseeing the expansion of the UK office. With asset managers seeking to explore more alternative investment strategies than ever before, Apex is the perfect partner for any manager looking for assistance and specialist expertise."

Apex secured a USD30 million commitment from FTV Capital in June 2011 to accelerate its model of delivering an increasing range of client service orientated products into the world’s major financial centres.