Apex Fund Services unveils free office facilities and incubation services for launch managers
Apex Fund Services has unveiled free office facilities and fund incubation services to launch hedge funds.
Apex’s Emerging Manager Incubation Services (EMIS) will help keep launch hedge fund managers’ costs down at a time when margins are falling amid rising operational and regulatory costs.
The challenge facing managers is evidenced in a 2012 Citi Prime Finance survey, which revealed hedge funds running less than $250 million spent approximately 198 basis points of their 2% management fee on operations and third party service personnel.
In addition to providing office space, EMIS offers free advisory services regarding fund structure, jurisdiction selection, launch platforms, cloud hosting, broker networks, administration and order management and portfolio management systems via Apex Technologies.
EMIS has launched offices in Miami, New York, London, Malta, Mauritius and Sydney with more expected to roll out in countries where Apex has a presence.
The project will be managed by Bill Wiggin, an MP with a career spanning 13 years in financial services, including spells at UBS, Dresdner Kleinwort Benson and Commerzbank AG.
“Up to 75% of all new fund launches fail, a statistic that is far too high and Apex’s EMIS has been launched to turn the tide and ensure more fund managers succeed. New funds often carry too high a cost base at launch which can be a major drag on the growth of the fund, restricting its chance of success. EMIS brings solutions to all of these potential hurdles and brings the key infrastructure needed to make funds investable,” said Wiggin.