Allfunds Bank, Europe’s largest fund platform, has reached a “milestone” with €350 billion of assets under administration (AuA) and now plans to open two more offices.
The firm said it had surpassed €350 billion of AuA after raising an additional €100 billion this year with the aid of digital activities, which included making an app available, and an expanded product set on its platform.
Allfunds, which is owned by a private equity firm and a sovereign wealth fund, said the opening of an office in Brazil in the coming weeks would be the tenth office.
The firm also plans to open an office in the Nordic region.
Other development plans include a “regulatory data hub” that will be introduced in light of the Markets and Financial Instruments Directive II, which comes into force in January.
Juan Alcaraz, CEO of the platform, said: “Allfunds is now growing across multiple fronts both geographically as well as structurally. Our efforts in Asia and Latin America have paid off and I’m sure the same will be the case in the Nordics.”
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