Apex Fund Services, which has $26 billion (€19 billion) of funds under administration and 34 offices globally, has opened an office in Jersey saying it expects fund manager interest in the island to continue.
Following the opening of Apex Jersey, the office will provide alternative fund structures for clients as well as act as a springboard for Apex’s private equity services.
According to Apex, together with other Channel Island jurisdictions, Jersey has experienced significant growth in its fund servicing industry. The Jersey industry is valued at approximately $350 billion with over 1,300 regulated funds.
Jersey took an opt-in approach to the Alternative Investment Fund Managers Directive, a move intended to give managers and investors reassurance about the regulatory controls that exist in the jurisdiction.
Andrew Mason will manage Apex Jersey. He previously worked for Coutts (Jersey) and has also worked at Ernst & Young and Kleinwort Benson. Mason also set up and was the managing director of Ipes (Jersey).
Peter Hughes, chief executive and founder of Apex Fund Services, says: “Different jurisdictions around the world are becoming increasingly specialised and recognised for specific services.”
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