FE fundinfo has acquired FundConnect, a fund data and technology company based in Denmark, giving the data provider a unique position in the Nordic fund industry.
Founded in Copenhagen in 2000, FundConnect collects and distributes fund data across Europe, specialising in advanced data collection, data distribution, web solutions and fund document production for marketing and regulatory purposes.
FundConnect, together with the Danish Investment Association, jointly owns FundCollect, which serves the entire Danish mutual fund industry; both Danish fund groups and international funds operating in Denmark.
The fund distribution landscape is becoming ever more global and the need for greater efficiencies for data exchange cross border is something FE fundinfo aims to facilitate through its leading fund data distribution services."
The announcement follows a period of growth for FE fundinfo with the acquisition of Lichtenstein-based ESG specialists CSSP at the end of 2020 and hires into the FE fundinfo commercial teams in continental Europe throughout the first half of 2021.
Hamish Purdey, chief executive of FE fundinfo, said: "The fund distribution landscape is becoming ever more global and the need for greater efficiencies for data exchange cross border is something FE fundinfo aims to facilitate through its leading fund data distribution services. We share a similar philosophy with FundConnect in aiming to improve standardisation across the global fund data landscape and help our clients access and distribute their fund data and documents in a streamlined manner.
"We have been impressed with the key role FundConnect has played in improving fund data standards. Their approach to building innovative technology solutions helps to bring that data to life for the benefit of fund managers, fund distributors and investors."
FE fundinfo already has many shared clients which are supported domestically by FundConnect, and with FundConnect's international operations in turn supported by FE fundinfo in Luxembourg, by aligning their leading fund data, network and technology solutions, the companies aim to offer a broader set of complementary services to their clients and partners that are increasingly operating cross border.
Carsten Mahler, CEO of FundConnect, added: "We're delighted to be joining the FE fundinfo family and play an active part in the business' vision to create a pan-European fund data and technology champion. This transaction enables us to offer a broader and deeper fund data universe to our clients and continue to drive the agenda for standardisation and efficiency in the collection and distribution of fund data.
"Our expertise in data automation and technology solutions complement the offerings provided by FE fundinfo and allow us to support our global client base in streamlining their businesses and remaining compliant in an increasingly complex regulatory landscape."
First published by our sister title Investment Week