Press release, 19th November 2018
MFEX to acquire RBC I&TS’ Global Fund Platform, coupled with a long-term partnership for fund distribution
MFEX, one of the largest European experts in global fund distribution, expands its footprint in Europe and Asia by entering into an agreement with RBC Investor & Treasury Services (“RBC I&TS”), part of Royal Bank of Canada (RY on TSX and NYSE), whereby MFEX acquires RBC I&TS’s Global Fund Platform (GFP) technology and provides fund distribution services to RBC I&TS under a long-term partnership.
Following MFEX’s recent acquisitions of Ahorro Best Funds in Spain and Axeltis in France, the agreement with RBC will further strengthen MFEX’s position as a leading expert for international fund distribution in a rapidly consolidating industry, reinforcing its market share in both Europe and Asia and allowing it to expand its offering for both distributors and investment managers.
As a result of the transaction, RBC I&TS’s GFP clients will continue to be serviced by RBC I&TS, but in addition, its appointment of MFEX means that clients will also benefit from MFEX’s specialized expertise, new digital services and position as an independent expert in global automated fund distribution.
“We are extremely pleased to partner with RBC. Both parties share common values in the delivery of the best possible client experience and a willingness to invest into the digitization of the fund distribution value chain,” said Oliver Lagerström, co-CEO of MFEX.
“This, along with our other recent acquisitions, reinforces MFEX’s leading role as the preferred independent expert in global fund distribution,” said Olivier Huby, co-CEO of MFEX.
RBC I&TS’ GFP technology which provides order routing, deal execution, settlement, asset servicing, fund data, fund documents and trailer commission processing for investments into mutual funds, alternative investment funds and ETFs will be transferred to MFEX as part of the acquisition.
As a result of this acquisition, MFEX will expand its geographic footprint through new local offices in London, Luxembourg and Kuala Lumpur.
The closure of the transaction is subject to approval by local authorities.
Matt Newnham, MD UK
+46 709 495 516
Oliver Lagerström, co-CEO
+46 709 51 51 86
Ben Adams – Head of Corporate Communications, Europe. RBC Investor & Treasury Services
+44 207 6534 109
MFEX, independent experts in global fund distribution, offers a complete solution for fund distribution with 194 Billion EUR in assets under administration. Banks and other distributors of funds use MFEX to access the world's largest fund offering with trading, rebates and fund information from over 920 fund companies and 72 000 funds with which MFEX cooperates. MFEX is independent with full transparency between distributors and fund companies. MFEX is active in 51 countries across 5 continents with its head office in Stockholm and offices in Paris, Geneva, Madrid, Milan, Singapore, and Umeå.
About RBC Investor & Treasury Services
RBC Investor & Treasury Services (RBC I&TS) is a specialist provider of asset services, a leader in Canadian cash management and transaction banking services, and a provider of treasury services to institutional clients worldwide, with over 4,000 employees in 17 countries across North America, Europe, Asia and Australia. We deliver services which safeguard client assets, underpinned by client-centric digital solutions which continue to be enhanced and evolved in line with our clients’ changing needs. Trusted with CAD 4.2 trillion in client assets under administration as at August 22, 2018, RBC I&TS has been rated by our clients as the #1 global custodian for eight consecutive years and is a financially strong partner with among the highest credit ratings globally.