Apex Group receives Aussie fund mandate

Yasmine Raso

Senior Journalist, Financial Newswire

16 December 2022

Kayne Anderson Rudnick Investment Management (KAR) has handed global financial services organisation, Apex Group, a mandate to service its Australia-based Global Small Cap Fund.

Apex Group will provide fund administration, transfer agency and independent custody services for the KAR fund, to streamline daily investment management tasks, enhance operational efficiency and increase transparency for investors.

“We are seeing a growing trend of global investment managers launching new funds and fund vehicles onshore in the Australia market, broadening available investment strategies to the fifth-largest superannuation industry in the world,” Nick Bradford, Head of Business Development – Australia and New Zealand at Apex Group, said.

“We are delighted that Kayne Anderson Rudnick will benefit from the provision of our single-source solution, encompassing fund administration, transfer agency and custody services for their funds.”

Steve Rigali, Executive Managing Director at KAR, said Apex Group’s “timely, accurate and independent” single-source solution was one of the many capabilities that led to KAR striking a deal the firm.

“We are pleased to be working with Apex Group, whose single-source model allows us to access the fund services and custody solutions that we require,” he said.

“The convenience and efficiency of contracting with a single, local team in Australia is important to us.

“Apex Group’s global reach and cross-jurisdictional experience offers the ability to support our business needs in Australia in a scalable manner so that we can focus on our specialty of seeking attractive returns for our investors.”

KAR has more than $45 billion in assets under management (AUM) as of 30 September, with managed equity and fixed-income strategies on offer to institutional, broker-dealer and high-net-worth clients.