The Swedish fund platform MFEX Mutual Funds Exchange AB (MFEX) has acquired Ahorro Best Funds – the platform aimed at institutional investors run by Ahorro Corporación Financiera.
The acquisition, already authorised by the Spanish regulator CNMV, brings as a result the opening of a new MFEX office in Madrid, from which the firm will run its activities in Spain, Portugal, Andorra and Latin America as part of MFEX’ plans of growth across Southern Europe.
MFEX already works with various asset managers in Spain including BBVA Asset Management, March Asset Management, Arcano Asset Management, EDM and Cartesio.
The agreement will see Ahorro Corporación Financiera providing support for the growth of MFEX in Spain over the next four years.
MFEX, with assets under management amounting to €120bn at the end of H1 2018, has distribution agreements with more than 820 global managers. The platform has offices in Stockholm, Paris, Geneva, Milan and Singapore.