The acquisition is set to accelerate Broadridge’s pan-European regulatory communications and digital data platform, as well as support the lifecycle of fund data, documents, and regulatory reporting for the investment industry.
Meanwhile, FundsLibrary’s solutions enable fund managers to increase distribution opportunities and help them comply with regulations.
Broadridge noted that the business will be combined with FundAssist, Broadridge’s existing European funds regulatory communications business.
According to Broadridge, the combination of FundsLibrary’s data platform and technology with Broadridge’s existing fund calculation, document creation and translation capabilities, creates an end-to-end solution for fund managers and distributors.
Broadridge added that this will enable them to respond to demanding regulatory requirements across multiple jurisdictions.
The combined business will be known as Broadridge Fund Communication Solutions, and will be led by Arun Sarwal, former CEO of FundsLibrary.
Commenting on the acquisition, Sarwal said: “I am delighted to lead this exciting fund data and regulatory communications business for Broadridge as we expand and grow our footprint in international markets.”
Sarwal added: “This combined business will enable Broadridge clients to utilise a single provider for the creation and dissemination of fund marketing and regulatory documents so they can increase distribution opportunities and meet the demanding standards of regulation.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 