Broadridge eyes up acquisition of FundsLibrary 21 January 2020New York Reporter: Maddie Saghir
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Broadridge has entered into an agreement to acquire FundsLibrary, a fund document and data dissemination in the European market, from its parent company Hargreaves Lansdown.
The combination of FundsLibrary’s capabilities and Broadridge’s existing regulatory communications offerings is set to reduce complexity and cost for global fund managers.
According to Broadridge, this will help increase distribution opportunities and meet regulatory requirements across multiple jurisdictions.
FundsLibrary’s services link fund managers to distributors and investors to provide complete, ‘accurate and timely’ information supporting fund sales.
Meanwhile, integrating FundsLibrary’s data platform and technology with Broadridge’s existing fund calculation, translation and document creation capabilities creates an end-to-end solution for fund managers and distributors, Broadridge explained.
Broadridge explained that this comes at a time where there is growing demand for transparency, operational efficiency and compliant communications in an increasingly competitive and highly regulated environment.
Samir Pandiri, president of Broadridge International, commented: “Today, global fund managers face a real challenge in creating and disseminating compliant marketing and regulatory documents that meet domestic and cross-border requirements throughout the EU and UK.”
“The acquisition is a natural extension of Broadridge’s regulatory communications business and the next step in creating a leading pan-European digital data platform, supporting the lifecycle of fund data, documents, and regulatory reporting for the investment industry,” Pandiri added.
Arun Sarwal, CEO of FundsLibrary, said: “We are excited to be joining forces with Broadridge to enable us to serve our clients across a larger part of their global value chain and to extend our services across multiple geographies.”
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