News

Apex acquires fund services group Implemented Investment Holdings

New Zealand flagInvestment services firm Apex Group has expanded its presence in New Zealand with the purchase of Implemented Investment Holdings, the parent company of Implemented Investment Solutions (IIS) and InvestNow. IIS is the issuer and manager of 22 investment schemes and has roughly NZ$5 billion (US$3 billion) of assets under management. It provides investment and distribution services to New Zealand-domiciled services. InvestNow is a digital retail investment platform with over 25,000 clients and 150 managed funds, and roughly US$800 million of assets. The deal will see 28 employees added to Apex’s New Zealand business, bringing its staff numbers beyond 200. It follows the acquisition of New Zealand-based fund and wealth administrator MMC, which was completed earlier this year. Both IIS and InvestNow will become part of the Apex Group, and founder and CEO Anthony Edmonds will hold a senior management role in the combined business, alongside CFO and executive director Gareth Fleming. © 2022 funds global asia

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