Q.1 How does the new Apex Group and FundRock partnership benefit clients?

Renaud Oury: In October, Apex Group announced that it would be acquiring FundRock, largest third-party management company in Luxembourg. This complements our acquisition in 2019 of Luxembourg-based ManCo LRI.  FundRock’s addition to the Apex Group strengthens the ManCo offering for clients, and is part of our commitment to provide a single-source solution to the asset management industry.

Xavier Parain: Apex has a long-established presence in Luxembourg and the European regulated market and, as a result of this acquisition, FundRock’s clients will now benefit from the Group’s international presence; accessing new markets through its globally connected operating model across 45 offices, supported by 4,000 employees.

Q.2 Are you planning to expand your presence in Luxembourg in 2021?

Renaud Oury: In 2021, Luxembourg will continue to be one of Apex’s cornerstone hubs from which we employ almost 750 people. We are constantly looking to expand our business with currently almost 70 open positions in the Grand Duchy. On top of these ones, we will be looking to expand our team with 10 new Client Relationship Managers as we continue to build our single-source solution to European regulated funds under the Apex, FundRock, LRI and European Depositary Bank brands.

Q.3 What opportunities do you see for Luxembourg’s funds industry in 2021?

Xavier Parain: Luxembourg will become one of the biggest winners from Brexit as businesses shift their operations out of the UK. Many funds need to guarantee that they have access to the European market to be able to raise capital, which Luxembourg facilitates. To support business flowing from the UK, Luxembourg has created a transitional regime to allow UK investment firms to continue to provide cross-border services into Luxembourg in the event of a “no-deal” Brexit.  For this reason and others, we see the Grand Duchy as well positioned as a global financial services centre and the growth of our business in Luxembourg is a key strategic priority for us in 2021 and beyond.

Q.4 Why should funds choose Apex and FundRock as their service providers in Luxembourg?

Renaud Oury: As compliance costs and regulatory pressures grow, arguably one of the most important decisions you will make is that of which service providers will support you. Managers are now increasingly seeing the major advantages to appointing Apex as their single-source provider – including the cost and administrative efficiencies achieved, seamless integration and a single point of contact for ongoing management of the relationship. Funds value our local knowledge as well as our team’s deep expertise and a product density which positions us to support the business’ needs now and in the future.

Find out more about jobs at Apex Group including Client Relationship Manager opportunities