Apex Group features in Luxembourg ManCo rankings
Apex Group Ltd. (“Apex Group” or “The Group”), a global financial services provider, today announces the continued success of its Luxembourg Management Company (“ManCo”) businesses in PwC’s 8th annual Management Companies Observatory Barometer.
Apex Group offers clients ManCo and Alternative Investment Fund Manager (“AIFM”) solutions in Luxembourg, via the FundRock brand which incorporates FundRock LIS and FundRock LRI. FundRock is a leading Third Party ManCo in Europe, overseeing more than 1,200 funds serviced by more than 500 experts in 12 key jurisdictions globally.
Jointly, Apex Group companies have been confirmed as the largest Third Party ManCo service provider in Luxembourg and were ranked as follows by PwC’s annual Management Company Observatory Barometer:
- #1 in the Overall Ranking in Third Party ManCos in Luxembourg
- #1 in the Top 5 Third Party UCITS
- #2 Top 5 Third Party AIFMs
FundRock enables clients to streamline their operations in a cost-effective manner by offering third-party ManCo and, complemented by a wide range of fund administration, depositary and custody services delivered through the broader Apex Group.
In 2022, Apex Group continued to play a transformative role in the consolidation of the Luxembourg ManCo landscape, with the successful additions of Sanne LIS and Maitland. In 2023, Apex Group will also add MJ Hudson’s ManCo businesses in Luxembourg and Ireland, this acquisition will add a team of experienced professionals and AuA of approximately €80bn (following receipt of regulatory approval).
David Rhydderch, Global Head Financial Products and MD EMEA at Apex Group: “This latest report from PwC demonstrates that the turbulent markets of the last twelve months have exacerbated pressure on fees, with talent shortages and the growing regulatory burden weighing heavy on investors. This wider context has driven a renewed reliance outsourcing to enable more flexible and efficient operating models. Following our recent acquisitions, we are uniquely positioned to meet this growing demand for ManCo services, and we look forward to further evolving the depth and reach of our innovative solutions to support our clients on a truly pan-European scale.”
Christian Hertz, Managing Director, FundRock LIS Luxembourg further comments: “We are delighted that Luxembourg continues to strengthen its position as a leading global financial services jurisdiction, attracting managers with its strong reputation, a supportive, innovative and robust regulator, underpinned by a mature financial services ecosystem. The trends identified by PwC’s research show that there are no signs of the growth in the ManCo sector slowing, with the Grand Duchy offering a compelling environment in which fund managers can seek knowledgeable third-party support to drive the success of their business.”
FundRock Management Company is a leading independent UCITS management company and AIFM investment fund manager headquartered in Luxembourg. It is a subsidiary of Apex Group. As of March 31, 2023, more than 500 employees of the companies under the FundRock brand* oversaw more than 1,200 funds with a total of €229 billion in assets under management in 12 countries. (* including FundRock, FundRock LIS and FundRock LRI).
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