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Apex Fund Services
Apex Fund Services Average Score 2022 Average Score 2021 Average Score last 3 years Global Average Difference with Global Average Client Service 6.03 6.28 6.12 6.26 -0.23 On-boarding 6.12 6.24 6.15 6.15 -0.03 Fund Accounting 6.17 5.95 6.12 6.36 -0.19 Investor Services 5.92 5.73 5.88 6.15 -0.23 Reporting to Investors 6.05 5.93 6.03 6.17 -0.12 Reporting to the Manager 6.24 5.91 6.10 6.26 -0.02 Reporting to Regulators 5.84 5.99 5.96 6.12 -0.28 Reporting to the Tax Authorities 6.15 6.02 6.12 6.19 -0.04 Reporting to Auditors 6.06 5.91 6.07 6.33 -0.27 KYC , AML and Sanctions Screening 6.13 6.07 6.08 6.18 -0.05 Middle Office Services 6.27 5.90 6.17 6.21 0.06 Operations 6.10 5.88 6.10 6.25 -0.15 Price 5.63 5.59 5.64 5.74 -0.11 Average 6.05 5.95 6.04 6.18 -0.13
Apex scores are up a little on last year and are on the whole within a few basis points of the market average . The firm ’ s strongest result is for Middle Office Services , where it beats the market average . Anyone reading the news will be aware that Apex has been on something of an acquisition spree in the last few years . The recent Sanne acquisition brings another 2,500 people into the Group , adding six new locations in Denmark , Japan , Serbia , South Africa , Spain , and Sweden . Client comments are positive on the whole across the service spectrum , the principal complaint being response times in some cases . “ Apex does an outstanding job with their daily , weekly and monthly reconciling and reporting ,” says one client . “ They are on top of breaks , following up and resolving in a timely manner . “ The firm receives rare praise for its approach to pricing – an area where respondents are often loath to express satisfaction . “ Apex has always been extremely responsive and flexible in negotiating fees both at the onset of the relationship and when our needs change ,” says one participant . Commenting on the past year , Apex observes that one of the biggest trends has been the growing diversity of portfolio allocations amongst investors . “ Apex has seen an increasing interest in both public and private markets , specifically private credit and venture capital which may lead managers to adapt their strategies ,” says the firm .
78 Global Custodian Fund Services Annual 2022