Allfunds Bank consolidates platform leadership

Allfunds Bank has seen a 46% growth over the last 12 months, “cementing” its position as Europe’s largest mutual fund platform.

Assets under administration stand at €215 billion, up from €147 billion last year, says Allfunds, quoting a report by Platforum, an industry body.

In 2015 Allfunds emerged as the largest platform for the first time in the Platforum survey. A spokesman for Allfunds said the position was “cemented” with this year’s result.

Allfunds’ nearest rival is UBS Fondcentre, which grew 17.6% to €169.4 billion, according to Allfunds quoting the same report.

Allfunds’ growth in Europe was across all regions including its traditional core markets of Italy and Spain.

Assets in Central Europe and the Nordics grew 119% when comparing the last quarter of 2015 with Q3 2014.

Juan Alcaraz, chief executive of Allfunds Bank, put the success down to demand for ‘open architecture’, which consists of nearly 46,000 funds.

“Our relentless pursuit of 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 Group is equally owned by Santander and Intesa Sanpaolo groups.

©2016 funds europe