Apex Group has secured a deal to provide middle–office solutions to Tabula Investment Management, a specialist fixed income exchange traded fund (ETF) provider.
The services Apex will provide includes NAV verification, static data management and collateral management, among others.
Through the deal Tabula will be looking to enhance its operating model, reduce risk and minimise costs.
Tabula currently manages a range of six ETFs that target specific risk factors in fixed income, including corporate bond, corporate credit and alternative risk premia ETFs.
“The growth of ETFs has transformed equity investing in the past two decades, and we are excited to be working with Tabula who are at the leading edge of fixed income ETFs, an area poised for further growth,” said David Rhydderch, global head of financial solutions at Apex Group.
“Our dedicated ETF team will leverage their extensive experience to provide Tabula with the insight and services to help support its growth, whilst allowing for greater control of costs and risk.”
Tabula Investment Management’s CEO pointed to Apex’s “best-in-class” technology as a reason for selecting the service provider.
Last month, Tabula appointed HSBC to provide securities services to three new European fixed income sub-fund ETFs, which included a bundled package of custody, fund administration, and depositary services.