Apex Group Ltd. (“Apex”), a global financial services provider, announces today that it has been appointed to provide fund administration and accounting services to US Gold Opportunity Fund LP (“USGO”), a qualified opportunity fund that offers investors a simple, tax efficient, cost effective, liquid approach to investing in gold bullion.
USGO is structured as a as a qualified opportunity fund to provide its investors the potential tax benefits of opportunity zone legislation, while also promoting economic development in challenged communities. Unlike other gold funds, which typically store gold overseas, USGO warehouses theirs in secure facilities located in opportunity zones in the United States, and its service providers are also based in Opportunity Zones.
USGO also aims to provide institutional investors fee-based consulting services concerning their acquisition, ownership and disposition of physical gold bullion as well as comprehensive set of bespoke services to investment managers that intend to use gold bullion as collateral for acquiring futures contracts or other financial instruments.
Through their partnership with Apex, USGO will benefit from the flexibility, responsiveness and expertise provided by Apex’s team and underpinned by a range of ‘best in class’ technologies, a connected approach that supports all asset classes and regions through the secure transfer of data, across the entire value chain.
Apex’s fund administration services are the foundation of its single-source solution and ensure the delivery of timely, accurate and independent portfolio accounting, fund and investor reporting.