Allfunds Bank has been named the largest ‘open architecture’ mutual fund platform in Europe, according to a report from The Platforum.
In its guide to European platforms, The Platforum said Allfunds had overtaken the previous leader UBS to rack up assets on its platform of €147bn at the end of September 2014.
The report also highlighted that Allfunds had been picked by asset managers as having the “best distribution potential” out of all mutual fund platforms in Europe.
Allfunds was created in 2000 and is owned by both Santander and Intesa Sanpaolo.
It has grown its assets under administration further since the report and now has more than €190bn on its platform, offering “close to 38,000 funds from 450 fund managers”.