Atlantic completes Moventum acquisition 13 November 2014Luxembourg Reporter: Stephanie Palmer
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Atlantic Fund Services has acquired Moventum SCA, the Luxembourg-based distribution platform for independent funds and advisors.
Moventum was previously owned by Global Portfolio Advisors and the Banque de Luxembourg, and currently holds €3.5 billion in assets under administration. The transaction has been approved by the Luxembourg regulator.
Atlantic has been operating in the US since 1986, in Poland since 1996, and in Luxembourg since 2011.
Chairman of Atlantic’s US business, John Keffer, said: “Atlantic is highly experienced in creating and developing Internet and transfer agent technologies for leading asset managers. Moventum now gains access to Atlantic's advanced technology solutions.”
Moventum distributes funds in 120 markets around the world, supporting financial advisors, insurance companies, funds of funds and banks in 19 jurisdictions. It also holds distribution agreements with 450 companies for more than 9,000 funds.
Roman Lewszyk, chairman and CEO of Atlantic’s European business, said: “Until now we have been a rather modest distributor. The acquisition of Moventum will let us seriously step into the market of global distribution of funds.”
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