KAR selects Apex for Australian fund services 16 December 2022Australia Reporter: Lucy Carter
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Kayne Anderson Rudnick Investment Management (KAR) has selected Apex to service its Australia-based Global Small Cap Fund.
Apex will provide improved transparency, operational efficiency and simplified day-to-day investment management tasks for KAR’s clients. The company will also support KAR’s independent custody services.
As of September 30 2022, KAR holds more than $45 billion in assets under management and offers a range of actively managed equity and fixed-income strategies to institutional, broker-dealer and high-net-worth clients.
Steve Rigali, chartered financial analyst at KAR, comments: “[Apex’s] single-source model allows us to access the fund services and custody solutions that we require. The convenience and efficiency of contracting with a single, local team in Australia is important to us. Apex’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 seeking attractive returns for our investors.”
Nick Bradford, head of business development for Australia and New Zealand at Apex, says: “We are delighted that KAR will benefit from the provision of our single-source solution, encompassing fund administration, transfer agency and custody services for their funds.
“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.”
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