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FE fundinfo has today (20 September) completed the acquisition of Fundsquare, the Luxembourg-based fund registration and regulatory services provider.
The acquisition will see the firms create a pan-European champion in fund data that aims to transform cross-border fund distribution.
The companies connect two core elements of the fund industry value chain – the registration and fund distribution processes.
This provides the firms with the capability to consolidate data management, client reporting and regulatory reporting on one open architecture platform.
Fundsquare was established in 2013 by Luxembourg Stock Exchange (LuxSE) to serve global asset managers and fund industry service providers.
The acquisition of Fundsquare will build on FE fundinfo’s established operations in Luxembourg, creating a local centre with over 100 staff.
Post-acquisition, the combined group will have a global workforce of more than 1,000 across the United Kingdom, Europe, Asia and Australia.
FE fundinfo and LuxSE have finalised the acquisition of Fundsquare by FE fundinfo.
FE fundinfo chief executive Hamish Purdey said: “The closing of this deal marks a new and exciting chapter in the development of our offering to fund managers and distributors globally.
“We are now positioned to transform cross-border fund distribution by enabling efficiencies for our clients in data management, fund registration and reporting.
“Through the timely provision of the highest quality fund data and information, we will ensure that our clients in the global asset management industry deliver the best investment products either directly to investors or through their distribution partners.
“The culture of FE fundinfo and Fundsquare are both centred on a deep commitment to data quality, regulatory expertise and client service. This shared culture and commitment makes us a powerful team going forward into the future.”
Fundsquare managing director and chief operations officer Maxime Aerts added: “Growing competition in the asset management industry, along with a need for more precise governance and risk mitigation requires strong data management and disclosure capabilities.
“Now that we have joined the FE fundinfo group, we have enormous potential to expand our reach and go on to manage the fund data management lifecycle in more jurisdictions than ever before, and we are eager to share our plans with our clients and partners. As part of FE fundinfo, we feel we are now uniquely positioned to support the transformation of our industry.”
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