Allfunds Bank remains the largest fund distribution platform in Europe with over quarter of trillion Euros of assets under administration (AUA), according to a funds distribution report.
The report, by Platforum, 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; and efficiency in on‐boarding funds
Allfunds Bank again leads the way with the most potential for expanding the distribution of a fund management firm, as its scale provides access to a distribution network of more than 530 financial institutions across 38 countries.
The report says 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 says Allfunds was the “most efficient” when on‐boarding funds onto a platform.
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.
Allfunds Bank CEO Juan Alcaraz (pictured) says: “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. 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, minimising risks and increasing efficiency, justifying our role as main partner in open architecture solutions.
“In the UK, our business is thriving with a very strong pipeline and so I was delighted that this important report reveals that Allfunds Bank is now perceived to be ‘dominant’ in terms of the service we provide to our UK wealth and asset management clients.”