Allfunds to add ETFs as Mifid II looms

Added 16th May 2017

Allfunds Bank is adding exchange-traded funds (ETFs) to its investment platform in recognition of wealth management evolution following Mifid II.

Allfunds to add ETFs as Mifid II looms

The platform's new ETF service will allow its 530 wealth manager clients initial access to products from iShares, Lyxor, Source and Deutsche Xtrackers using a single point of access and standardised processing and transaction capability.

Allfunds will be supplementing existing fund service proposition with ETF-focused services relating to execution, reporting, information and research.

As well as multi-broker access, multi-custodian links and connectivity via equity standards, Allfunds will open up retail access to ETFs by introducing fractional dealing - a complex regime which facilitates smaller investment amounts.

Allfunds believes the move will encourage greater ETF uptake by retail investors while agreeing to offer enhanced services to aid distribution, such as sophisticated management information, educational programmes and reporting services, bringing the standards applied to ETF providers in line with active fund management houses.

With the drive for open architecture in mind, Juan Alcaraz, CEO at Allfunds Bank, said: “Buying an ETF in the stock market is one thing, incorporating ETFs in the wealth management industry’s current distribution framework is a completely different matter.

“We therefore believe that our ETF service position is unique and brings a new dimension to ETF distribution both for wealth managers and their retail investors.”

Allfunds has more than €280bn in assets under administration and offers nearly 52,000 funds from 540 fund managers.

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