Allfunds Bank has appointed Nick Emmins to run its new investment research service for UK wealth managers and other third party fund purchasers.
Allfunds’ 17-strong investment research service team assesses 47,000 funds globally, ranking each fund according to governance, risk, and portfolio analysis. The firm was moved to establish the offering due to increasing regulatory requirements incurred by fund buyers in respect of product selection.
The firm say developments such as the UK's Retail Distribution Review and the Markets in Financial Instruments Directive II, mean advisers now have to clearly justify and explain the reasoning behind fund selections, and require robust fund selection processes as a result.
Moreover, active managers facing increasing competition over low-cost passive vehicles must try harder than ever to justify their extra costs. The service aims to address these issues, offering comprehensive qualitative examinations of funds for wealth managers and advisers.
Emmins left RBC in April last year after seven years at the firm, in which he helped develop the firm’s Luxembourg-based global fund trading platform. Prior, he spent ten years at BNP Paribas Securities Services, the last seven of which he served as head of business development. He has also held holding roles at M&G Investments and Aetna Investment Management.
Allfunds has over €215 billion in assets under administration, as of March 31 this year.
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