Europe's largest fund platform Allfunds has acquired Swiss firm fundinfo's fund research business in a bid to expand its fund selection service.
As part of the agreement,Allfunds will also strengthen its data management by sourcing additional dynamic and regulatory fund data from fundinfo.
Credit Suisse and fundinfo reached a deal in October 2018 to collect and source data from asset managers.
The acquisition of the fundinfo's fund research business is the second major deal for Allfunds in the Swiss market recently. The company announced last week it was taking over Credit Suisse's stake in its cross-border fund sales hub Credit Suisse InvestLab.
Allfunds, with over€380 billion in assets under administrationandinvestment research presence in London and Madrid, has 26 investment specialists on the team, making it one of the biggest fund research teams in Europe.