Maples Fund Services Celebrates 10 Years in Hong Kong
Maples Fund Services, a division of MaplesFS and leading independent global fund services provider, marks a major milestone in 2016 with the tenth anniversary of the opening of its Hong Kong office.
Since commencing operations in Hong Kong in 2006, Maples Fund Services has established a reputation as a market leader in the provision of accounting, middle office, risk reporting and administration services to a client base which includes investment management firms, institutional investors, pension plans and global financial institutions.
Eastern Fong, Regional Hedge of Fund Services – Asia, has overall responsibility for the business operations of Maples Fund Services in the Asia Pacific region. Having joined the firm in 2006, he has played a crucial role in establishing the firm's on the ground presence in Hong Kong. Maples Fund Services’ ability to further capitalise on opportunities in the greater Asia Pacific region was enhanced through the opening of its full service operational office in Singapore in November 2013. Working with alternative fund managers in Singapore, Japan and Greater China wishing to set up hedge or private equity funds, Maples Fund Services is able to provide clients with an independent, tailored and customised service from the clients' local time zone.
"Our growth has been driven by dedication and expertise of our staff and our client-centric approach," said Mr. Fong. "We are thrilled to mark this milestone and look forward to continuing to deliver an unmatched level of service and support that enables our clients to succeed."
The Hong Kong office currently services approximately US$20 billion in assets under administration, supported by a local staff of nearly 100 strong who are committed to fostering long-term relationships and taking a high-touch approach to client service. Maples Fund Services has also recognised the growing importance of technology to the fund services industry and has developed an optimal combination of best-of-breed core systems and bespoke proprietary systems that allow the firm to be dynamic in addressing key business challenges faced by clients.
As part of the Maples group, Maples Fund Services is able to complement its existing fund services offering with fiduciary and trust services from Maples Fiduciary and Maples Private Client Services as well as legal expertise offered by Maples and Calder. This approach has been recognised by the industry as a formidable combination and a welcome alternative to the traditional fund administration model and only further differentiates the firm from its competitors. Maples Fund Services has also been consistently acknowledged as a leader in the market through various awards, including being named to Institutional Investor's Tech 50 List for the last five years in a row as well as being named "Best Asia Administrator – under US$30 billion overall" by HFMWeek in 2014, 2015 and 2016.
While the last 10 years have brought about both significant opportunities for business growth and challenging industry dynamics, alternative fund managers and other financial institutions in the region, across all asset classes, have unquestionably realised the benefits of outsourcing. As a result, they are able to place an increased focus on investors and investment functions to support business growth and ensure they are equipped to adapt to a rapidly evolving environment.
"Our Hong Kong office has been a driving force behind the growth of Maples Fund Services globally and we are proud of what we've achieved and the success we've realised over the past 10 years," said Scott Somerville, Chief Executive Officer of MaplesFS. "We remain as committed as ever to evolving our offering and investing in the resources necessary to further solidify our footprint in the Asia Pacific region."
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