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FE fundinfo and the Luxembourg Stock Exchange (LuxSE) have announced a partnership which will result in FE fundinfo’s acquisition of Fundsquare, a fund registration and regulatory services provider in the global funds hub that is th Grand Duchy.
Fundsquare is a wholly owned subsidiary of LuxSE and, as part of the agreement, LuxSE will become an investor in FE fundinfo.
Fundsquare was established by LuxSE in 2013 to facilitate cross-border fund distribution through the collection and distribution of high-quality data and information in a cost-effective manner. Today, the company provides services that attempt to streamline, standardise and facilitate cross-border investment fund distribution from inception to filing and distribution,
The combination of Fundsquare’s and FE fundinfo’s services is an attempt to combine two complementary businesses and create a pan-European champion in fund data, reporting and infrastructure.
As part of the acquisition FE fundinfo will establish a Centre of Excellence for regulatory reporting, based in Luxembourg. The acquisition further provides an opportunity for LuxSE and FE fundinfo to explore joint opportunities in ESG-related products and services, leveraging LuxSE’s experience in this domain and FE fundinfo’s own ESG capabilities from its CSSP acquisition according to the firm.
With a global workforce of more than 900 experts and offices in the UK, Europe, Asia and Australia, FE fundinfo is a dominant provider of fund data and technology expertise, serving fund managers, fund distributors and financial advisers,
Hamish Purdey, chief executive of FE fundinfo said: “Fundsquare’s reputation as an independent fund registration and regulatory reporting champion is renowned across Europe. We believe our services are highly complementary and the deal will bring together two industry leaders in fund data and reporting. By combining our services, the scope for greater efficiencies and product innovation will dramatically increase and the industry will benefit greatly from the enhanced product and service integration. Luxembourg will house our centre of excellence for regulatory reporting with comprehensive coverage of key European fund jurisdictions. We look forward to working together to enhance our services to meet the needs of the entire investment management value chain, including fund managers, distributors, fund service providers, regulators and investors.”
Maxime Aerts, managing director and chief operating officer of Fundsquare added: “Increased digitalisation combined with constantly evolving industry-specific regulations have led to an exponential growth in data. Growing competition in the fund industry, along with a definite need for more precise governance and risk mitigation require strong data management and disclosure capabilities. We see an enormous potential for Fundsquare to expand its reach beyond what we have already achieved. We are truly looking forward to forming part of the FE fundinfo group and are eager to explore new opportunities for our clients and our people. We share FE fundinfo’s vision and global ambitions, and we are excited to be at the heart of the group’s growth strategy for our industry.”
