Fondab offers fund companies and other financial institutions trading and administration services for fund trading via its business to consumer fund platform. Fondab also operates the trading venue Fondmarknaden.se.
Fondab’s financial and business performance remain robust under current market conditions. However, due to the business to consumer nature of business and hence the limited strategic fit of Fondab AB with MFEXbyEuroclear’s Fund Strategy, MFEX considered it challenging to bring the company to its next level of growth. MFEX concluded that the sale of Fondab AB could help secure long term business relationships with key clients in Sweden, and therefore represents a sound business opportunity for both MFEX Group and Fondab AB.
The transaction is expected to close in the first half of 2023, subject to customary closing conditions and regulatory approvals.
Brigitte Daurelle, MFEX Group CEO, commented: “We are very pleased that Max Matthiessen, a long term client of Fondab, has agreed to acquire 100% of the share capital of the company. This transaction meets our strategic ambitions contributing to the strengthening of Fondab’s business franchise and preserving its existing strong customer relationship with MFEX Mutual Exchange AB.”
Jacob Schlawitz CEO Max Matthiessen commented: “We are pleased to welcome Fondab as a part of Max Matthiessen. Fondab and Max Matthiessen shares the ambition to grow with quality. That gives the companies ideal conditions to develop together as one company. We have previously worked close together and completed several successful projects. We will now provide better solutions, services and support to both Max Matthiessen and Fondab clients”.
In September 2021, MFEX was acquired by Euroclear group, one of the world's largest providers of domestic and cross-border settlement and related services for bond, equity, ETF and mutual fund transactions, creating together a new funds marketplace under the name MFEXbyEuroclear.
MFEXbyEuroclear, is the leading global B2B fund platform, offering Fund Management Companies and Fund Distributors a single point of access to tap into our trading & custody, fund distribution, data solutions, and regulatory compliance services.
The combined group administers around EUR 3.1 trillion of fund assets serving 2000+ Fund Distributors and 2500+ Fund Management Companies, spanning 85 countries across the globe.
About Max Matthiessen
Max Matthiessen is one of Sweden's leading life and non-life insurance brokers, providing advice, analysis, and administration.
Our financial advisers, administrators, and specialists have extensive experience in helping employers and individuals with the procurement of market-leading savings and insurance solutions.