Apex Group has made waves in the financial sector by teaming up with Sygnum Bank to pioneer a revolutionary method of administering regulated securities using blockchain technology. This breakthrough not only marks a significant step forward in fund administration but also opens up new avenues for global private market funds to attract a wider range of qualified investors.
Working in collaboration with Sygnum Bank and Hamilton Lane, Apex Group has introduced a groundbreaking digital share class for the Hamilton Lane GPA fund, along with a Distributed Ledger Technology (DLT) registry. These innovations automate and merge traditionally separate functions of fund administration. By tokenizing the fund, a digital share class is created, alongside a DLT registry that handles its distribution and administration.
Under the regulatory oversight of the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, Apex Group manages investor onboarding, subscription, administration, and transfer agency services for both traditional and digital share classes of funds. This pioneering approach is set to become the norm for all of Apex Group’s asset management clients, empowering them to expand their market reach and sell more of their products.
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Peter Hughes, CEO of Apex Group, sees this development as a game-changer for both the company and the industry at large. He emphasizes their commitment to disrupting traditional practices to bring about positive changes in the financial services sector.
Bruce Jackson, CFA, Chief of Digital Asset Funds and Business at Apex Group, echoes this sentiment, highlighting their mission to provide distributors and wealth managers with greater access to alternative investment strategies. Their ongoing efforts aim to refine the Framework Operating Model for distributing alternative asset funds, with blockchain technology serving as the backbone for subscription, onboarding, operations, administration, and transfer agency functions.