The new digital Share Class tool will provide product distribution intelligence when selecting fund share classes Allfunds Bank, Europe´s largest open architecture fund platform*, launches ‘Share Class’, a search tool for stock classes of funds available in the market. Through this tool, Allfunds makes available to its customers all the information necessary to adapt to the regulatory requirements brought by the new MiFID II environment. The search can be done using three main criteria: type of client, type of service and cost.
International managers have been expanding in the last decade the number of share classes available for their funds, in many cases, exceeding ten variants for the same product. This diversity causes a problem for distributors who have to choose the most suitable share class for their client based on the underlying investment service offered. A challenge that has been increasing in recent years as supervisors have been defining the different services offered to the client and the right share class to each of them.
To solve this problem, Allfunds has developed the Share Class tool that allows distributors to ensure that the distribution conforms to the parameters set by each class and the investment services defined by the regulator. Within the Allfunds portal, distributors have access to a comprehensive consultation solution of more than 80,000 funds by share class in which they will be able to consult the available classes and the information necessary for choosing the most appropriate one. This tool will join additional solutions incorporated to the Allfunds Regulatory Hub, such as:
• EMT Lookup: European MIFID Template of more than 80,000 funds
• Profitability scenarios via the ETP (European PRIIPs Template) of 50,000 funds
• Ex ante and ex post cost reports, customised in advance with clients’ corporate identity, which can be adapted according to needs
• Access to all the information through an FTP server
These tool features will establish a seamless, efficient and compliant share class selection process, aligned with investors’ requirements.
Allfunds´ CEO, Juan Alcaraz said,
“The Share Class tool is a unique solution created by Allfunds Digital to help our clients within the MIFID II context. We identified this relevant problem for distributors and we worked hard to have this valuable tool for them, enabling and facilitating mutual fund distribution in a digital ecosystem. Through our online portal, clients will have access to an all-in-one solution to meet their regulatory requirements. We are focused on providing our clients cutting-edge technology to help streamline day-to-day activity whilst being compliant to the MiFID II requirements. I am very pleased that Allfunds launched this digital solution to help give clients access to all the data they require while keeping costs low and enabling digitalisation.”
Allfunds Bank Group offers integrated fund solutions (operational, analysis and information). Created in 2000, today Allfunds Bank has more than €370 Billion assets under administration and offers more than 64,400 funds from over 1,200 fund managers. Allfunds Bank Group has a local presence in Luxembourg, Switzerland, United Kingdom, Spain, Italy, United Arab Emirates, Singapore, Chile, and Colombia and has more than 605 institutional clients, including major commercial banks, private banks, insurance companies, pension funds, fund managers, financial supermarkets, international brokers, and specialist firms from 45 different countries. Allfunds Bank Group operates in Asia through the entity of Allfunds Singapore Branch.
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