FundRock, a manager of Ucits, is extending its distribution division by establishing a facility in the Netherlands.
The FundRock Distribution office in Amsterdam has been established with the agreement of the local regulator AFM, and will serve asset managers by using both local knowledge and worldwide ties with other FundRock offices.
FundRock, a subsidiary of Apex Group, manages over 470 funds with a total of €134 billion in assets, and the Amsterdam office joins a network of 170 workers operating in Luxembourg, the United Kingdom, Ireland, France, Abu Dhabi, and Singapore. FundRock's CEO, Xavier Parain, stated, "We are excited to announce the further expansion of FundRock Distribution with the opening of a new office in The Netherlands."
“This announcement signals our strategic intent to represent asset managers across their portfolio wherever they are in the world - helping them to tackle the increasingly complex regulatory requirements of cross border fund distribution and supporting their asset raising activities."
Later this year, FundRock will announce more regional growth, according to Parain. FundRock aims to assist clients in streamlining their operations in a cost-effective manner by providing third-party fund distribution services utilising a vast array of fund administration, middle office, banking, depositary, and custody services.
FundRock launched a distribution service for non-EU managers in April 2021. The service operates out of Luxembourg and is led by managing director and head of distribution Arnaud Gerard, with clients in the United Kingdom, the United States, and Asia.
By fLEXI tEAM