Atlantic Fund Services, a fund services provider, has finalized the takeover of Moventum, a Luxembourg-based online fund platform, as the fund administrator looks to expand globally.
Atlantic acquired Moventum from Global Portfolio Advisors and Banque de Luxembourg, and has €3.5 billion in assets under administration.
Following the absorption of the Moventum business, Atlantic hopes to create a global distribution network that will operate from a single platform. Atlantic has operated in Luxembourg since 2011, and has had a base in Europe in Poland since 1995.
“Until now we have been a rather model distributor. The acquisition of Moventum will let us seriously step into the market of global distribution of funds,” says Roman Lewszyk, chairman and CEO, Atlantic Fund Services.
Moventum distributes funds in 120 markets globally, and supports 1,850 financial advisors, insurance companies, funds of funds and banks located in 19 jurisdictions.
“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,” adds John Keffer, chairman of Atlantic’s U.S. business.
Atlantic Fund Services Completes Acquisition of Online Platform
Atlantic Fund Services, a fund services provider, has finalized the takeover of Moventum, a Luxembourg-based online fund platform, as the fund administrator looks to expand globally.