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Apex Fund Services opens Isle of Man office

Posted: 17 June 2008

Apex Fund Services has established an office in the Isle of Man headed by Tim Parkes, a former managing director at Barclays Wealth and Barclays Private Clients International.

Apex Fund Services provides administrative service to private equity and hedge funds. It has offices in eight other domiciles worldwide including Bermuda, Dubai, Hong Kong, Ireland, Mauritius and Singapore.

Mr Parkes, managing director of the Isle of Man operation, said: ‘Setting up in the Isle of Man is a key move for Apex. We have a first-class reputation with our clients and boast the world-class systems and controls of a major global player in fund administration.

We look forward to bringing to the Isle of Man the client service and people philosophy that ensures bespoke, relationship based customer engagement.'

Brian Donegan, director of foreign direct investment at Isle of Man Finance, said: 'Apex brings expertise in fund administration to the Island's dynamic funds sector and is a perfect fit with our strategy for the industry's long-term development. We expect this piece of new business to bring us one step closer to the ambitious target set by the Isle of Man Fund Management Association (FMA) of reaching US$150 billion assets under administration and management on the Island by 2010.'

Apex was awarded the title of Hedge Funds World ME Best Fund Administrator in a leading industry survey earlier this year and was named the second-fastest growing fund administrator in the world in a survey by HedgeFund.net in November 2007.

Click here for more information on the Isle of Man

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