Independent fund administration firm Apex Fund Services has continued expanding into the Latin American markets with the opening of its new office in Montevideo, Uruguay.
Similarly to the Apex Miami office, which opened in June 2012 and is successfully linking US managers to Latin America, Apex Uruguay will now play a key role in opening up the territory to the world’s fund managers, said a release from the firm.
With operating costs for asset managers lower in Uruguay than in Brazil, Apex argues that outsourcing to its firm provides independence and cost savings that significantly benefit the bottom line for managers.
Peter Hughes, group managing director of Apex Fund Services 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 of Apex Fund Services in Uruguay 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.
“Apex brings these industry leading services to LatAm fund managers and brings them a partner they can rely on to help them tap into the South American opportunity.”
