Apex Group said it has been appointed by Kayne Anderson Rudnick Investment Management to service its Australian fund. Apex, a Bermuda-headquartered global firm with a strong presence in Luxembourg, has been appointed to provide fund administration and transfer agency services to the Kayne Anderson Rudnick Global Small Cap Fund.
Kayne Anderson Rudnick is a Los Angeles, California-based investment advisory firm founded in 1984 to manage capital for its founders. The firm has over 45 billion dollars in assets under management as of September, offering a variety of actively managed equity and fixed-income strategies to institutional, broker-dealer and high-net-worth clients.
Apex will also support the firm with its independent custody services.
Onshoring
“We are seeing a growing trend of global investment managers launching new funds and fund vehicles onshore in the Australia market, broadening available investment strategies to the fifth-largest superannuation (retirement savings) industry in the world,” said Nick Bradford, head of business development – Australia and New Zealand at Apex .
“The convenience and efficiency of contracting with a single, local team in Australia is important to us,” said Steve Rigali, executive managing director at Kayne. “Apex Group’s global reach and cross-jurisdictional experience offers the ability to support our business needs in Australia in a scalable manner so that we can focus on our specialty of seeking attractive returns for our investors.”
In its press release, Apex drew attention to a recent Forrester Consulting report that showed clients of Apex Group’s single-source solution achieve, on average, cost benefits of 5.39 million dollars, with a net present value of 2.75 million dollars over a three-year period.
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