Fund Services Annual 2022 | Page 94

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Apex Group

Year-on-Year Comparison Apex Group
Average Score 2022
Average Score 2021
Average Score last 3 years
Global Average
Difference with Global Average
Client Service
5.97
5.61
5.88
5.97
0.00
On-boarding
5.72
5.73
5.77
5.99
-0.27
Reporting to Limited Partners
6.00
5.82
5.92
6.06
-0.06
Reporting to General Partners
6.05
5.45
5.83
6.13
-0.08
Reporting to Regulators
5.67
5.70
5.74
5.87
-0.20
KYC , AML , Sanctions Screening
5.84
5.84
5.84
5.88
-0.04
Capital Drawdowns and Distributions
5.93
5.80
5.91
6.16
-0.23
Technology
5.67
5.30
5.56
5.62
0.05
Average
5.86
5.66
5.81
5.96
-0.10

Apex records scores for most categories at the upper end of the Good range ( 5.00-5.99 ). Reporting to both General and Limited partners is rated Very Good and overall , the firm has improved on last year ’ s results . There is a wide spread of opinion in most categories as evidenced in the standard deviation chart and anecdotally in the open text comments , where the positive outweigh the negative . “ Apex and our dedicated fund admin team are exceptional and always strive to provide outstanding service ,” says one US client . “ They ' re fun to work with and are accommodating with time sensitive projects . We will continue to use Apex as our fund admin and strongly recommend them .” Another makes the general observation that , “ We have used five fund administrators and most of our work goes here . For price and service , they do very well .” The firm itself notes that , “ The two key themes for almost every strategic discussion in the past 12 months are data and digital .” Regarding the latter , it points out that digital advancements mean that data can now be credentialised and anchored on blockchains . “ At Apex we are looking towards the future and have invested in tools to cater for these demands ,” it says . More broadly , Apex observes that , “ Investors are increasingly calling for full transparency , especially on factors such as performance metrics , risk management and contextual market data , while continued focus on

ESG reporting is contributing to the complexity of the metrics investors are demanding transparency on . Many private markets managers are now
turning to service providers like us for additional business support and guidance , not only for back-office functions , but for front-office too .”
92 Global Custodian Fund Services Annual 2022