Apex Group wins new mandate from life insurer

en

Apex Group Ltd. (“Apex”), a global financial services provider, announces today that it has been appointed to provide Fund Administration and Middle Office Services to the life insurance company of Azimut Group (“Azimut”), one of the leading independent asset management operators with over €80 billion in assets (as of end of October 2021) based in Italy with an international presence across more than 17 countries around the world.

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30/11/2021 |
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Following a competitive process, Apex has been appointed provide Fund Administration and Middle Office services to Azimut Life dac (“Azimut Life”), the life insurance company registered in Ireland.

Apex’s fund administration services are the foundation of its single-source solution and ensure the delivery of timely, accurate and independent portfolio accounting, fund and investor reporting. These services will be supplemented with Apex’s Middle Office solution. Apex’s Middle Office services are seeing growing demand from institutional investors including insurance firms, pension funds, endowments, and alternative managers.

Through their partnership with Apex, Azimut Life will benefit from the flexibility, responsiveness and expertise provided by Apex’s team, with services underpinned by a range of best-in-class technology platforms.

Apex’s services will be delivered via Apex Connect, a secure, real-time, 24/7 web portal providing secure access to fund and investment data online. Apex Connect communicates directly with the PFS-PAXUS database to offer a dynamic dashboard, fund data, portfolio analysis and documentation. By automating manual processes, this technology will provide improved functionality, advanced reporting capabilities and operational efficiency.

John Bohan, Co-founder and Country Head Business Development (Ireland), Apex Group comments: “A robust middle office and administrative function is paramount to the smooth running of a fund. As regulatory compliance requirements continue to evolve and grow in complexity, operational efficiency and economies of scale are vital. We will enable the Azimut Life team to focus on their performance and growth, whilst the Apex team help to mitigate risk and reduce their operational burden.”

Filippo Fontana, General Manager, Azimut Life dac, adds: “By outsourcing time consuming administrative and middle office requirements to a trusted global provider such as Apex, we are able to achieve significant time and resource efficiencies and to focus on our core activities to the benefit of our clients. We look forward to working with Apex Group’s experienced team who have shown responsiveness and an entrepreneurial spirit which mirrors that of our business.”

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