The launch of an industry body for fund distribution platforms has been announced in Luxembourg, the major global centre for cross-border Ucits funds.
Founder members of the Fund Platform Group (FPG) include RBC Dexia Investor Services, Fund Channel, Moventum, MFEX, Attrax, Swisscanto London and Société Générale Securities Services. These were brought together by Kneip, a service provider and FPG associate member, in 2010 to discuss the establishment of the group.
FPG says it aims to further links within the global fund distribution platform business.
Key tasks that the FPG intends to address include improving the efficiency of transaction handling, the creation of a single market voice, and the development and promotion of industry best practices.
Edouard Bokuetenge, director of distribution support at RBC Dexia Investor Services and chairman of the FPG, said: “At a time when new legislations are facilitating cross-border distribution but also bringing greater complexity, we believe that the creation of a strong and independent global fund platform association is critical.”
©2011 funds europe