U.S.-based fintech Broadridge Financial Solutions announced on Monday it has completed the acquisition of FundsLibrary, a company focused on fund document and data dissemination in the European market. Broadridge notably acquired FundLibrary from its parent company Hargreaves Lansdown.
As previously reported, Broadridge shared that by combining FundsLibrary’s capabilities with its existing regulatory communications offerings will enable it to significantly reduce complexity and cost for global fund managers, helping them to increase distribution opportunities and meet their regulatory requirements across multiple jurisdictions.
“FundsLibrary’s services link fund managers to distributors and investors to provide complete, accurate and timely information supporting fund sales. The solution helps fund managers increase distribution opportunities and comply with both UK domestic and EU regulations such as Solvency II and MiFID II, and makes information easily accessible for investors in digital format. 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.”
Samir Pandiri, President of Broadridge, commented at the time of that the acquisition was first announced:
“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. 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.”
Broadridge revealed that the acquisition accelerates its pan-European regulatory communications and digital data platform, supporting the lifecycle of fund data, documents, and regulatory reporting for the investment industry. Arun Sarwal, former CEO of FundsLibrary, spoke about the acquisition by stating:
“This combined business will enable Broadridge clients to utilize 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.”