• Thanks to the strategic acquisition, institutional distributors and fund managers in the Nordic region will benefit from a large number of added value distribution services enabled by the leading wealthtech B2B platform in Europe
• Allfunds business operations multiplies in the Nordic countries, with an ambition to be also the local industry leader within one year
• The acquisition is aligned with Allfunds consolidation plans, reaching the €500 billion assets under distribution (AUD) milestone, boosting its European undisputed leadership
• Nordic Fund Houses are now able to access Allfunds’ expansive global distribution network
14 November 2019. Allfunds, the largest investment fund distribution network in Europe and a leading wealthtech platform, has successfully finalized the acquisition of the Nordic Fund Market (NFM), from Nasdaq. The acquisition was announced in March 2019 and has been pending regulatory approvals and customary procedures.
With this operation, Allfunds total assets under distribution (AUD) increase to more than €500 billion and further strengthens its presence in the Nordic region. The Nordic Fund Market client portfolio will boost Allfunds’ presence in the Nordics at the same time as benefiting existing NFM distributors and fund managers with added value solutions, increased efficiency and advanced technology. Current NFM distributors and fund managers will become part of Allfunds’ distribution network in the region which already compromise more than 20 entities in Sweden, Norway, Finland, Denmark, Iceland and the Baltic countries.
Allfunds now has an established office in Stockholm which will provide services to the distributors and fund managers throughout the Nordic region. All employees working with NFM at Nasdaq in Stockholm were recruited, one being the former CEO of Nasdaq Broker Services Mattias Hammarqvist who is the Head of Allfunds Sweden.
“I am very excited that we, with new office will be able to leverage on the technology, services and benefits Allfunds global platform provides. It enables us to improve our offerings to current distributors and fund managers as well as to attract additional“, said Mattias Hammarqvist, Head of Allfunds Sweden.
With the new office, distributors and fund managers are able to leverage the technology and know-how of experts in the region while accessing a cost-efficient way to distribute funds and reducing operational risk. This agreement and access to the global platform will benefit local financial institutions who can take advantage of the global scale and specialisation within Allfunds as well as to benefit from state-of-the-art technology and increased service offering to meet challenges in the industry.
Juan Alcaraz, CEO of Allfunds, said:
“We are very excited to close this acquisition that allows us to increase our presence in the Nordics by bringing our leading fund and wealthtech platform to the region while strengthening our global position. The Nordic markets deserve a trusted and global B2B partner to boost and support local financial institutions. The integration of NFM's business and infrastructure into our company and our solutions further enhances our innovative offering, disruptive and value-added services that will now be made available to Nordic entities and help them achieve their objectives.”