Investment manager Foord Asset Management has appointed Apex Group Ltd, the global financial services provider based in Bermuda, to support its expansion into the Australian market.

Apex will provide fund administration, transfer agency and custody services to Foord’s new Australia-domiciled fund, Foord Global Equity Australian Feeder Fund.

Foord is an independent, owner-managed investment boutique currently offering a premium service to long-term investors operating in Guernsey, Singapore and Luxembourg.

Apex Group delivers a single-source solution, via its network of more than 80 offices in 40 countries, offering the broadest range of services in the industry.

Fund services form the foundation of Apex’s single-source solution, which, according to a recent Total Economic Impact report by Forrester Consulting, provides clients of Apex Group with a return on investment of 105 per cent and cost benefits of $5.39m, with a net present value of $2.75m over a three-year period.

Nick Bradford, head of business development Oceania at Apex Group, noted the significant increase in managers launching new, Australian funds.

He said: “These managers require a service partner with the right experience and a global footprint to seamlessly support their administrative and operational needs as they expand into new jurisdictions. We look forward to working with the Foord team as they continue to scale their business and deliver sustainable returns for their investors.”

Agnes Cai, chief executive officer at Foord Asset Management Singapore added: “We are excited to be working with Apex Group who have impressed us with their ability to provide a single-source solution, meeting all our fund administration and custody needs, delivered via one relationship with an experienced local team."