Allfunds Outlines its Mifid ii Strategy Benefits

Allfunds Bank has outlined the MiFID II tools and solutions they have developed to help clients successfully deal with the new regulation.

Building on their strong digital capabilities, Allfunds is now making available to clients an in-depth share class analysis tool, a fund catalogue for their suite of over 54,000 funds and ETFs, and valuable solutions to provide quality enhancement.

The share class analysis tool along with the fund catalogue will provide key product details.  Most of the information for asset and wealth managers will be provided through the Allfunds Fund Catalogue – a platform which is central to the company’s data strategy. All solutions and data will be available through different formats including file exchange, the recently launched Allfunds Web 3.0 and APIs

The extent of Allfunds’ commitment to asset managers and distributor clients became clearer at the company’s MiFID II Summit in Madrid last week when over 240 leading firms met to hear Allfunds highlight the benefits of its digital strategy in so far as its relates to MiFID II.

Key points from the Summit included:

• Scale and specialisation. As the largest fund platform in Europe, Allfunds size and reach means that it can provide huge economies of scale along with one single access point to help minimise the costs for distributors and fund providers when becoming MiFID II compliant, thanks to Allfunds high degree of specialisation.
• Regulatory-compliant access to over 54,000 funds and ETFs. The full regulatory framework that Allfunds will provide in response to MiFID II will apply to all 54,000 funds and ETFs on its global platform, the largest mutual fund offering in Europe.
• Tools to assist distributors with their MiFID II obligations. Allfunds has developed additional tools and solutions to support distributors helping them to add value for investors including digital comparison tools and fund selection tools and assisting them with the share class selection for each of their businesses.

Allfunds also detailed how it will collect, standardise and distribute specific MiFID II data, ensuring distributors receive data from a single and reliable source. Streamlined and efficient data access is required as the need for transparency across the whole fund distribution chain is put into effect. Fund managers also will benefit from accessing distribution through a secure and transparent channel getting the data on distributors they may need to either comply with their obligations or to obtain reliable management information.

Allfunds´ CEO, Juan Alcaraz said,

“Allfunds MiFID II digital tools will help make the transition seamless for our clients. By providing access to over 54,000 financial instruments and detailed share class analysis, our partners will have access to all the data they require while keeping costs low and enabling their digitalisation. We are thrilled to share our technology and distribution know how with our partners and support them with this upcoming regulatory challenge”

*‘European Fund Distribution:  Leading Platforms,’ Platforum, March 2017