Following a competitive process, Apex has been appointed provide Fund Administration and Middle Office services to Azimut Life dac (“Azimut Life”), the life insurance company registered in Ireland.
Apex’s fund administration services are the foundation of its single-source solution and ensure the delivery of timely, accurate and independent portfolio accounting, fund and investor reporting. These services will be supplemented with Apex’s Middle Office solution. Apex’s Middle Office services are seeing growing demand from institutional investors including insurance firms, pension funds, endowments, and alternative managers.
Through their partnership with Apex, Azimut Life will benefit from the flexibility, responsiveness and expertise provided by Apex’s team, with services underpinned by a range of best in class technology platforms.
Apex’s services will be delivered via Apex Connect, a secure, real-time, 24/7 web portal providing secure access to fund and investment data online. Apex Connect communicates directly with the PFS-PAXUS database to offer a dynamic dashboard, fund data, portfolio analysis and documentation. By automating manual processes, this technology will provide improved functionality, advanced reporting capabilities and operational efficiency.
John Bohan, Co-founder and Country Head Business Development (Ireland), Apex Group comments: “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. We will enable the Azimut Life team to focus on their performance and growth, whilst the Apex team help to mitigate of risk and reduce their operational burden.”
Filippo Fontana, General Manager, Azimut Life dac, adds: “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. 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.”
About Azimut Group
Azimut is one of Europe’s leading independent asset managers (active since 1990). The parent company Azimut Holding was listed on the Italian stock exchange on 7 July 2004 (AZM.MI) and, among others, is a member of the main Italian index FTSE MIB. The shareholder structure includes over 2,100 managers, employees and financial advisors bound by a shareholders’ agreement that controls ca. 22% of the company. The remaining is free float.
The Group comprises various companies active in the sale, management and distribution of financial and insurance products, with Registered Offices mainly in Italy, Luxembourg, Ireland, China (Hong Kong and Shanghai), Monaco, Switzerland, Taiwan, Brazil, Egypt, Singapore, Mexico, Australia, Chile, USA, UAE and Turkey. In Italy, Azimut Capital Management SGR sells and manages Italian mutual funds, Italian alternative investment funds, as well as being active in the discretionary management of individual investment portfolios. Furthermore, Azimut Capital Management SGR distributes Group and third-party products in Italy via a network of financial advisors while Azimut Libera Impresa focuses on the Alternatives business. Overseas main operations are Azimut Investments (founded in Luxembourg in 1999), which manages the multi strategy funds AZ Fund 1 and AZ Multi Asset and the Irish Azimut Life DAC, which offers life insurance products.
