Apex Group has agreed to buy ARM Swiss Representatives (ASR), which offers Swiss Representation and Distribution services to foreign fund managers, for an undisclosed sum.
The takeover of FINMA-regulated ASR is said to provide Apex clients with improved regulatory compliance and distribution services in the Swiss market.
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Awaiting FINMA nod, the deal supports Apex’s expansion plan for fund marketing and distribution services in Europe.
Besides, it will enable ASR’s customers to gain access to Apex’s single-source solution.
This solution includes locally delivered services across depositary, custody, digital banking, management companies, fund administration, middle office and corporate services, as well as ESG rating system.
Completion of the acquisition is anticipated in the third quarter of this year.
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By GlobalDataASR co-founders Anne Empain and Greg Taylor said: Apex has made notable strides in developing its distribution and capital introduction services for European investors, and we look forward to bringing these to Switzerland.”
ASR provides compliance and regulatory services to more than 630 funds and 350 fund managers internationally, looking to market their funds in Switzerland.
The business, established in 2014, also serves as the distributor in Switzerland for nearly 12 fund managers.
Apex Group founder and CEO Peter Hughes said: “With a deep understanding of our clients’ investment strategies and portfolios, we are strategically placed to provide non-EU asset managers with the marketing and distribution support they require in Europe.
“The acquisition of ASR builds on our industry leading role as one of the first super ManCos to offer distribution services in Europe. We look forward to welcoming the team whose extensive knowledge of the Swiss market and regulatory landscape offers a highly attractive and complementary addition to our offering and further strengthens our compelling client proposition.”
In February this year, Apex snapped up FundRock Management Company and FundRock Partners.
Recently, FundRock Distribution was launched to offer fund distribution solutions to non-EU asset managers.
