Apex Group acquires majority stake in FundAdminChain
A few weeks ago, a global financial services provider Apex Group Ltd, announced the expansion of its Digital Assets capabilities with the acquisition of a majority stake in FundAdminChain, a distributed ledger-based network for launching, distributing, trading and settling collective investment funds.
FundAdminChain is designed to connect fund investors, fund managers and their service providers in a digital distributed ecosystem. In addition to simplifying and streamlining the investment funds’ value-chain, the company delivers additional revenue opportunities for funds industry participants.
FundAdminChain is a pioneer in the application of new technologies to the funds industry and Apex’s position as majority shareholder will accelerate the adoption of these technologies and set a global standard for the tokenisation of funds.
This proprietary technology will facilitate greater productivity and efficiency for the Group’s clients, in particular enabling the faster and cheaper launching and distribution of funds, the ability to trade tokenised funds in secondary Decentralized Finance (“DeFi”) markets, as well as delivering improved experiences for both fund managers and investors. FundAdminChain has also extended their roadmap to deliver and operate a regulated exchange for digital funds.
Peter Hughes, Founder and CEO of Apex Group said: “Recent developments in Distributed Ledger Technology and Digital Asset Tokenisation are driving significant transformation within the asset management industry. Our majority shareholding of FundAdminChain will allow us to harness the potential of these new technologies, drive the adoption of tokenised funds, and improved ways of launching, distributing, trading and settling funds for our clients. This investment further demonstrates our focus on delivering an ever-evolving single-source solution, underpinned by innovative, flexible and best-in-class technology.”
Brian McNulty, CEO, FundAdminChain added: “As a global financial services provider, Apex Group is uniquely positioned to leverage new technologies to offer clients more flexible and efficient fund services. We see their investment in FundAdminChain as an exciting opportunity to collectively shape the future of the funds industry.”
FundAdminChain is a disruptor in the fund investment technology sector, founded by buy-side and DLT industry experts and in close collaboration with distributed ledger technology giant R3. Driven to enable Fund Managers to take control of the cost of investment and thus improve end investors’ returns on their hard-earned investments.
FundAdminChain offers forward-thinking buy-side participants the opportunity to collectively shape the future of the funds industry, through a transparent, open partnership, with costs and operating principles governed by the participants of the FundAdminChain network.
About Apex Group
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 50 offices worldwide and 8,000 employees upon the close of announced acquisitions, Apex delivers an extensive range of services to asset managers, capital markets, private clients and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry; including fund services, digital onboarding and bank accounts, depositary, custody and super ManCo services, business services including HR and Payroll and a pioneering ESG Ratings and Advisory service for private companies.