As traditional fund administration services become commoditised it is no longer an accurate comparison factor between providers, according to new research.
Industry experts argued further consolidation in the custody industry could be likely, but doubted it will happen within the next 12 months to five years.
Global Custodian analyses the primary drivers that are hastening consolidation across the funds’ industry.
Apex will take its assets under administration to $600 billion after the acquisitions of the corporate services business from Link Group’s Asset Services
The new business builds on agreements it signed with KAS Bank and Societe Generale Securities Services to use SimCorp Dimension for their custody services.
The compleition of the takeover provides SS&C one of the most-used communications platforms used by private equity and hedge fund managers.
The combined compan will hold approximately $150 billion of assets under administration and service over 840 funds.
The UK asset manager will consolidate its asset servicing relationships for its UK and Ireland fund ranges and use BNY Mellon as its sole outsourcing provider.