Nick Bradford
Global financial services provider Apex Group Ltd. has been selected to provide end-to-end fund administration services for Australian-based Exchange Traded Fund (ETF) provider, ETF Shares.
ETF Shares launched its first three US-focused ETF products in May. ETF Shares is the brainchild of co-founders David Tuckwell, Cliff Man and Arjun Shanker, and is chaired by Graham Tuckwell, who founded ETF Securities Australia, which was acquired by Mirae Asset Global Investments in 2022 and was rebranded to Global X.
Apex Group will provide custody, middle office, fund accounting and unit pricing services to ETF Shares.
Apex Group’s technology, integration, functionality and customisation capabilities will support ETF Shares’ ambitions to disrupt Australia’s concentrated ETF sector by enabling it to release products to the market sooner.
Nicholas Bradford, Apex Group Australia Country Head, said: “We’re excited to help ETF Shares enter the market by providing infrastructure for fast decisions and quick turnarounds. Apex Group’s support will help ETF Shares build a scalable tech platform that meets both operational and regulatory requirements.”
“We’re seeing a clear trend of allocation towards ETFs in Australia, where assets under management have surpassed $180 billion. Against this backdrop of growing demand, being able to provide clients with full ETF operational support and customised solutions is increasingly valuable for providers looking to gain an edge.”