Independent fund administration company Apex Fund Services has opened a Jersey office, expanding its presence in the Channel Islands.
Jersey, together with other Channel Island jurisdictions, has experienced significant growth in its fund servicing industry and in Jersey alone the sector is valued at approximately USD350bn with over 1,300 regulated funds.
Apex has itself experienced an increase in the level of interest being demonstrated by fund managers in Jersey. Jersey quickly took an opt-in approach to the AIFM Directive, giving global managers and investors reassurance and confidence about the regulatory controls that exist in the jurisdiction.
Following the opening of Apex Jersey, the new office will provide alternative fund structures for clients as well as act as a springboard for Apex’s private equity services as opportunities in the PE sector rebound globally.
Apex Jersey is managed by Andrew Mason who has over 30 years’ experience of Jersey’s financial sector. Mason specialises in corporate and fund structures and has held a number of high profile directorships sitting on boards as the general partner of private equity, real estate and mezzanine structures.
Mason has been on the committee of the Jersey Funds Association since 2004, and is also a member of the Jersey Association of Directors and Officers. Previously he worked for Coutts (Jersey) Limited, Ernst & Young and Kleinwort Benson.
Peter Hughes (pictured), chief executive and founder, Apex Fund Services, says: “Different jurisdictions around the world are becoming increasingly specialized and recognised for specific services. At Apex our responsibility is to seek out and provide fund managers with the most suitable and cost effective solution for their funds anywhere around the world.
“With the levels of interest being shown in Jersey, Apex’s latest office will be a key part of our global network and will ensure that the growing advantages of using Jersey’s flexible and full range of structures and corresponding regulatory approaches can be capitalised on by our clients.”
