Swedish fund distribution platform MFEX has wrapped up the acquisition of the global funds platform of RBC Investor & Treasury Services (RBC I&TS) after securing regulatory nod.
The deal, whose financial terms were not disclosed, was first announced last November.
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The combined platform will tend to mutual funds, hedge funds, ETFs and money market funds.
MFEX has already started offering fund distribution services to RBC I&TS under a long-term alliance.
Additionally, MFEX set up new offices in Luxembourg and London along with an operating centre in Malaysia.
At present, MFEX services 305 fund distributors and 930 fund managers in over 50 countries.
Commenting on the transaction, RBC I&TS global head of product management Paul Stillabower said: “The integration of MFEX’s scale, expertise and focused investment in global automated fund distribution with RBC I&TS’ comprehensive product and service offering presents compelling benefits for clients.”
MFEX co-CEO Olivier Huby too welcomed the deal.
“We are excited with the possibilities that this partnership will bring in reducing the operational, technical and legal barriers of fund distribution,” he noted.
In July 2018, MFEX announced the acquisition of Ahorro Best Funds, an investor platform operated by Spain’s Ahorro Corporación Financiera.
MFEX recently also snapped up fund distribution platform Axeltis in France.
