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MFEX to acquire RBC I&TS’ Global Fund Platform

Darius McQuaid, 19/11/2018

MFEX, the European experts in global fund distribution has acquired RBC Investor & Treasury Services’ (I&TS) Global Fund Platform (GFP), as well as a long-term partnership for fund distribution being formed between the two companies.

RBC I&TS is a specialist provider of asset services and part of the Royal Bank of Canada.  MFEX will supply RBC I&TS with fund distribution services under the partnership.   This acquisition will expand MFEX’s footprint in Europe and Asia.

RBC I&TS’ GFP technology provides order routing, deal execution, settlement, asset servicing, fund data, fund documents and trailer commission processing for investments into mutual funds. Alternative investment funds and ETFs will be transferred to MFEX as part of the acquisition.

According to MFEX, this move also means that RBC I&TS’s GFP clients will continue to be serviced by the company but they will also receive MFEX’s “specialised expertise, new digital services and position as an independent expert in global automated fund distribution.”

This year, MFEX acquired both Ahorro Best Funds, an investor platform operated by Spain’s Ahorro Corporación Financiera (ACF) and Axeltis, another fund platform in France from Natixis Investment Managers.

Olivier Huby, co-CEO of MFEX, said: “This [acquisition], along with our other recent acquisitions, reinforces MFEX’s leading role as the preferred independent expert in global fund distribution.”

MFEX has EUR 194 billion in assets under administration and thanks to this acquisition will expand its reach with new offices in London, Luxembourg and Kuala Lumpur.

RBC  I&TS has CAD 4.2 trillion in client assets under administration as at August 22, 2018.

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