Apex Group has been appointed to provide fund administration and middle-office services to the life insurance company of Azimut Group.
Azimut is an Italy-based independent asset management operator with over €80 billion in assets, as well as an international presence across over 17 countries globally.
Following a competitive process, Azimut Life, the life insurance company registered in Ireland, selected Apex for the mandate.
Apex’s fund administration services form the foundation of its single-source solution, ensuring the delivery of portfolio accounting, fund and investor reporting.
Apex’s services will be delivered via its web portal, Apex Connect, which will provide access to fund and investment data online. By automating manual processes, Apex claims that this technology will allow for improved functionality, advanced reporting capabilities and operational efficiency.
“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,” said John Bohan, co-founder and country head business development, Ireland at Apex Group.
“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.”
This latest mandate follows a number of similar wins for Apex in recent months across private equity firms, real estate funds and hedge funds.
This month alone, Apex has won fund administration mandates from private equity firm Revelstoke Capital and boutique asset management and advisory firm Marlin Capital Partners.
“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,” said Filippo Fontana, general manager, Azimut Life dac.
“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.”