Broadridge is set to acquire FundsLibrary, a provider of European fund document and data dissemination services, as it looks to boost its transparency and regulatory reporting tools for asset managers.
The acquisition from Hargreaves Landsdown will see Broadridge combine FundsLibraby’s capabilities with its existing regulatory communications offering, helping global fund managers to increase their distribution opportunities.
FundLibrary’s services link fund managers to distributors and investors to provide accurate and timely information supporting fund sales. It also helps them comply with both UK domestic and EU regulations such as Solvency II and MiFID II.
“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,” said Samir Pandiri, president, Broadridge International.
“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.”
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. 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.
The acquisition is expected to close in mid- to late-February, Broadridge stated.