Allfunds Bank retains leadership as Europe’s largest fund platform
Allfunds Bank remains the largest fund distribution platform in Europe with over quarter of trillion euros of assets under administration (AUA) and appears significantly ahead of its rivals, according to a Platforum report.
The report shows that Allfunds Bank has beaten its rivals in three out of four key measures in a survey of 110 senior figures in distribution, sales and business development roles within asset management businesses across Europe.
The report’s survey found that Allfunds was the “best platform” for Mifid II compliance services; distribution potential; efficiency in on‐boarding funds.
According to the report’s survey, Allfunds Bank again leads the way with the most potential for expanding the distribution of a fund management firm, as its enormous scale provides access to a distribution network of more than 530 financial institutions across 38 countries.
The report said that it was aware that the process of on‐boarding funds from fund groups onto platforms could be onerous, “requiring significant resources to deal with the bureaucracy it involves.” It also said that Allfunds was the “most efficient” when on‐boarding funds onto a platform.
The report’s survey, fund providers highlighted Allfunds’ “transparency and pro-activeness”, its “good MI, open cooperation and proactive communication”, as well as its ” strong engagement with industry representatives” when asked about Mifid II compliance services.
“The open architecture model, which provides consumers with the widest fund choice possible, is proving ever more attractive to a wider range of wealth and asset managers across Europe,” Allfunds Bank CEO Juan Alcaraz said.
“And with Mifid II on the near horizon, we are working to enable our clients to use the best suite of services available in the market, services that meet their requirements, simplifying access to distribution, minimizing risks and increasing efficiency, justifying our role as main partner in open architecture solutions,” he added.