Doors open at Apex Fund Services Luxembourg servicing three new fund platforms

Luxembourg - 4 August 2010

Apex Fund Services, the independent and leading global fund administration business, is delighted to announce that it has today opened its Luxembourg office.

Apex will begin providing administration services from Europe’s largest fund domicile to its growing number of global clients. The Luxembourg office opens with 10 UCITS and regulated SIF SICAV (Société d'Investissement À Capital Variable) funds.

SIF SICAV funds are onshore Luxembourg-branded multi-purpose investment vehicle that are operationally flexible and fiscally efficient. SIF SICAV funds are marketable both internationally and within EU member States to Institutional Investors and qualifying individuals and are ideal for Private Equity, Hedge Funds and Property Funds.

In addition to offering services for all types of public and private Luxembourg funds, the Luxembourg office has also been appointed as fund administrator for three fund platforms that provide fast and cost effective methods for establishing Luxembourg SICAV funds. These include:

1. Luxembourg Fund Partners Platform for the re-domiciliation of offshore funds, Alternative Investment Fund Manager activities and the set-up of non-UCITS vehicles.

2. Amiri Shariah Equities Platform a cost efficient, plug and play solution for establishing a Luxembourg Shariah Compliant Fund that allows for long-only or long-short equity strategies; and

3. Global Managers Platform (UCITS compliant) for the re-domiciliation of offshore non-UCITS and for passported Alternative Investment Fund Manager activities and non-UCITS vehicles.

Luxembourg was the first EU member state to transpose the 1985 UCITS directive into national law and Luxembourg domiciled funds are distributed in over 50 countries worldwide. 70% of foreign funds distributed in countries such as Bahrain, Hong Kong and Japan originate in Luxembourg. Luxembourg is also the leading fund centre for hedge funds domiciled in the EU.

Peter Hughes, Managing Director of Apex Fund Services Ltd, commented on the launch, said;

“The opening of our Luxembourg office with the support of Arendt & Medernach, the leading legal firm in Luxembourg, further underpins Apex's objective of providing un-rivalled levels of fund administration services. Luxembourg re-affirms our commitment of ensuring our clients have access to the world's key financial centers.

“The global reach we have ensures a unique ability to generate NAVs in the same time-zones as our clients around the world, speak to them in their own native languages and operate during the same working week as them. These value added services are what differentiate Apex’s 15 international offices.

“Apex's rapid expansion continues and Luxembourg is a key part of our growth plan. Our clients are now able, through Apex, to benefit from having access to Europe’s largest fund domicile.”

Christophe Lentschat, Managing Director, Apex Fund Services Luxembourg said:
“Luxembourg offers a perfect environment for investment managers looking to distribute their funds on an international basis. With Luxembourg fund vehicles being well known and readily accepted by the world's institutional investors, appetite and levels of interest in our services are already extremely encouraging.”

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