Third-party management company (ManCo) FundRock is launching a fund distribution service for non-EU managers in a further example of the expansion of the ManCo market.
FundRock recently established a distribution arm in Luxembourg, FundRock Distribution, and this service will now be available to firms in the UK, US, Asia and other domiciles outside of the EU where managers are looking to market their funds to EU investors.
The new business will be led by FundRock managing director Arnaud Gerard.
“FundRock’s dual role as a super ManCo and a MiFID approved investment adviser/distributor, means that it is now strategically placed to represent asset managers through its deep understanding of clients’ investment strategies and portfolios,” said Gerard.
Other ManCos have taken similar steps by acquiring firms with distribution capabilities. One of those firms is Waystone, which acquired Montlake, a Ucits ManCo with a distribution service.
Waystone’s global CEO Derek Delaney, recently told Funds Europe that distribution capabilities are a “key market differentiator” for the firm.
Meanwhile post-trade services firm Euroclear acquired fund distribution platform MFEX earlier this year with the aim of establishing a market utility for fund distributors.
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