Apex Group has been appointment by Foord Asset Management to support its expansion into the Australian market, the former announced this week.
Following a competitive process, Apex said in a statement that it has been appointed to provide fund administration, transfer agency and custody services to Foord’s new Australia-domiciled fund.
“We are seeing a significant increase in the number of managers looking to launch new, onshore fund vehicles in Australia,” said Nick Bradford, head of business development, Oceania at Apex Group.
“These managers require a service partner with the right experience and a global footprint to seamlessly support their administrative and operational needs as they expand into new jurisdictions.
“We look forward to working with the Foord team as they continue to scale their business and deliver sustainable returns for their investors.”
Foord, an owner-managed investment boutique, recently entered the Australian market with the launch of the new Foord Global Equity Australian Feeder Fund.
Targeting Australian long-term investors, the fund invests exclusively in Foord SICAV- Foord Global Equity Fund (Luxembourg) which comprises a diversified portfolio of global equities.
According to Foord, the fund aims to achieve a total rate of return above the MSCI All Country World Net Total Return Index without assuming greater risk.
“We are excited to be working with Apex Group who have impressed us with their ability to provide a single-source solution, meeting all our fund administration and custody needs, delivered via one relationship with an experienced local team,” said Agnes Cai, chief executive officer at Foord Asset Management Singapore.
“This efficiency and convenience of this model will allow us to focus on managing risks to deliver superior returns to Australian long-term investors.”
Earlier this month, Equity Trustees announced it has been appointed as local responsible entity (RE) for the Foord Global Equity Australian Feeder Fund.
At the time, Equity Trustees executive general manager of corporate trustee services, Russell Beasley, said: “We are excited to start working with Foord and their long-established investment team.”
“Equity Trustees is proud to bring many years of local and international funds governance experience to Foord Asset Management’s equity capability.”
Foord was originally established in South Africa by Dave Foord in 1981 before expanding to Guernsey in 1997, Singapore in 2012, Luxembourg in 2013 and to Australia this year.
Maja Garaca Djurdjevic
Maja's career in journalism spans well over a decade across finance, business and politics. Now an experienced editor and reporter across all elements of the financial services sector, prior to joining Momentum Media, Maja reported for several established news outlets in Southeast Europe, scrutinising key processes in post-conflict societies.
