Last updated: 18:50 / Thursday, 16 June 2016
Surpassing UBS Fondcentre

Allfunds Bank’s 46% Growth Cements Position as Europe’s Largest Mutual Fund Platform

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Allfunds Bank’s 46% Growth Cements Position as Europe’s Largest Mutual Fund Platform
  • Allfunds Bank reached EUR 215 billion in assets under administration, surpassing its nearest rival platform, UBS Fondcentre
  • Platforum described Allfunds’ growth in Europe as being across all regions including in its traditional core markets of Italy and Spain
  • Allfunds Bank was created in 2000 and owned in equal parts by the Santander and Intesa Sanpaolo groups

Allfunds Bank has cemented its position as Europe’s largest mutual fund platform as assets under administration (AuA) soared to EUR 215 billion from EUR 147 billion last year, according to Platforum’s latest findings on European fund distribution.

With growth of 46%, Allfunds Bank’s soared far ahead of its nearest rival, UBS Fondcentre, which grew 17.6% to EUR 169.4 billion. Platforum described Allfunds’ growth in Europe as being across all regions including in its traditional core markets of Italy and Spain.

“Despite its clear Asian and Latin American ambitions, Allfunds Bank still regards Europe as a market with great potential that will continue to drive growth. Reinforcing this view, assets in Central Europe and the Nordics more than doubled (+119%) in Q4 2015 over Q4 2014,” said Platforum.

Of the 46 asset managers surveyed by Platforum 55% suggested that Allfunds Bank had the best “distribution potential” compared with 35% and 20% for its nearest two rival platforms.

The Platforum survey also found that half the fund managers believed Allfunds Bank represented “value for money” compared to 20% and 15% for its nearest two rivals.

Allfunds Bank received another top billing regarding the provision of management information, with 35% of managers polled suggesting it was best for providing good information compared with 30 and 15% for its two nearest rivals.

Commenting on the Platforum’s findings, Allfunds Bank’s CEO, Juan Alcaraz said, “Allfunds Bank had an outstanding year which led us to grow across the board. Our relentless pursuit of the open architecture model, which provides consumers with the widest fund choice possible, is proving ever more attractive to a wider range of wealth and asset managers across Europe.In the UK, where we have taken a long time to establish our model, the business is now thriving with a very strong pipeline. We therefore remain very confident that our approach, which is clearly gaining traction in the UK, will continue to help propel our business forward across Europe.”

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