Approval has been received from the Department of Economic Development in Abu Dhabi, clearing the way for Apex to provide fund managers in Abu Dhabi with bespoke and tailored administration services designed for funds managed in Abu Dhabi.
This exciting development further consolidates Apexâs commitment to its existing clients in the Middle East region and enables Apex to build on the success of its existing offices in Bahrain and Dubai. Similar to Bahrain and Dubai, Apex will be the first overseas fund administration business to locate in Abu Dhabi and Apex will support all types of funds and fund strategies.
As part of its global strategy to be located in the same jurisdiction as the fund managers Apex works with, the Company has been present in the Middle East since 2006. Being located in the Middle East allows for the acceptance of subscriptions and redemptions in Arabic, facilitated by a staff of Arabic speakers.
Apex is increasing its services in the Middle East by enhancing its IT platform to provide an Arabic website and Arabic reporting for clients and underlying investors, demonstrating unrivalled levels of client care and valued added fund administration services.
Peter Hughes, Managing Director of Apex Fund Services Ltd, commenting on the approval said;
âWe are delighted to receive initial approval from the Department of Economic Development. This is an exciting development for our clients and we look forward to the forthcoming opening of our office in Abu Dhabi.
âApex has a recognized strategy of working closely with its clients by being located alongside them and having an excellent understanding of local regulations and local customs. Todayâs announcement reflects the rapid growth of the Company and the excellent progress Apex continues to make in the Gulf region.
âThe success of our offices in Bahrain and Dubai have been due to the high levels of service we provide our clients by working hand-in-hand with them. We look forward to extending the same levels of integrity to our clients and partners in Abu Dhabi.â