South African retirement fund EPPF picks Apex for fund administration
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South African retirement fund EPPF picks Apex for fund administration 17 April 2023South Africa Reporter: Jenna Lomax
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South African retirement fund Eskom Pension and Provident Fund (EPPF) has appointed Apex to provide its investment fund administration services for the next five years.
The EPPF is South Africa’s second-largest retirement fund with over R169 billion of assets under management (as at 30 June 2022).
Apex Group has delivered investment fund administration services to the EPPF for eight years.
As part of the renewed mandate, Apex Group will provide EPPF with front- and middle-office services including pre- and post-trade compliance and real-time sell-side integration.
Apex will also provide the retirement fund with portfolio construction and rebalancing, portfolio administration, digitised order management, multi-manager fund administration and fund reporting.
In recent years, Apex has entered the South Africa market via the acquisition of Maitland and Sanne Group.
Shafeeq Abrahams, CEO of EPPF, comments: “Apex Group understands how important all our stakeholders are in the process and have given us a comprehensive solution which is ultimately to the benefit of our members.”
Alan Keet, regional head of Middle East and Africa at Apex, says: “We are delighted that the EPPF has chosen to retain Apex Group as their service provider of choice. We know we are able to deliver services at high levels of automation and ultimately precision, at fees that are in the best interests of the EPPF members.”
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