US Gold Opportunity Fund LP (USGO), which offers investing in gold bullion, has chosen Apex to provide its fund administration and accounting services.
Through their partnership, Apex will assist USGO in supporting all asset classes and regions through the secure transfer of data, across the entire value chain, through its fund administration services.
This will assist USGO to ensure the delivery of timely, accurate and independent portfolio accounting, fund and investor reporting, Apex says.
USGO provides its investors the potential tax benefits of Opportunity Zone legislation, while also promoting economic development in challenged communities.
An Opportunity Zone is known as an economic development tool that allows people to invest in what are deemed economically “distressed areas” within the US.
USGO also aims to provide institutional investors fee-based consulting services concerning their acquisition, ownership and disposition of physical gold bullion, as well as services to investment managers that intend to use gold bullion as collateral for acquiring futures contracts or other financial instruments.
Chris Koons, head of mutual fund services at Apex Group, comments: “US Gold Opportunity Fund is truly unique in their opportunity zone-driven strategy for gold bullion investing and storage, and we’re excited to support them as they continue to innovate and grow.”
Bob Enck, president and CEO at US Gold Opportunity Fund, says: “We are excited to appoint Apex as our independent fund administrator. It is clear that they share our commitment to making a social impact and support our vision to fuel economic development in economically challenged communities.
He adds: “We have been particularly impressed by the responsiveness of their client service model and expertise of the team. We look forward to working together and the resulting efficiencies which will benefit the fund as we continue to scale.”
