FE Fundinfo, a leading provider of global fund data and technology, announced today that it has acquired FundConnect, a Denmark-based fund data and technology company.
According to an official announcement, FE Fundinfo aims to expand its international presence through the acquisition of FundConnect.
Founded in 2000, the Danish company collects and distributes fund data across Europe specializing in advanced data collection, data distribution, web solutions and fund document production (for marketing and regulatory purposes).
In addition to a wide range of services, FundConnect, in collaboration with the Danish Investment Association jointly owns FundCollect, which serves the entire mutual fund industry of Denmark.
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Commenting on the recent acquisition announcement, Carsten Mahler, CEO at FundConnect, said: “We’re delighted to be joining the FE fundinfo family and play an active part in the business’ vision to create a Pan-European fund data and technology champion. This transaction enables us to offer a broader and deeper fund data universe to our clients and continue to drive the agenda for standardization and efficiency in the collection and distribution of fund data.”
Despite the latest economic impact of the coronavirus pandemic, the financial services industry, including mutual funds and hedge funds has grown significantly in Europe in the last few months. FE Fundinfo also highlighted its rapid growth through the acquisition of Lichtenstein-based ESG specialists CSSP at the end of 2020 and the expansion of its team.
During the latest announcement, Hamish Purdey, Chief Executive at FE fundinfo, highlighted the importance of data and technology in the growing financial services industry. “The fund distribution landscape is becoming ever more global and the need for greater efficiencies for data exchange cross border is something FE fundinfo aims to facilitate through its leading fund data distribution services. We share a similar philosophy with FundConnect in aiming to improve standardization across the global fund data landscape and help our clients access and distribute their fund data and documents in a streamlined manner,” Purdey said.