Broadridge buys FundAssist for asset management lift
Broadridge Financial Solutions has completed the acquisition of Dublin-based FundAssist, a regulatory, marketing and sales solutions service provider to the investments industry.
According to Broadridge, this helps its governance and communications business and brings capabilities to enable the “composition, management and distribution of digitised regulatory and disclosure documents for fund managers distributing in Europe”.
Patricia Rosch, head of Broadridge’s Investor Communication Solutions business, says: “FundAssist’s broad and tightly related product offerings are well-positioned to continue to grow in a fragmented market, where asset managers are increasingly migrating from legacy in-house or third-party systems and consolidating disparate point solutions with a single vendor.”
FundAssist’s platform includes support for key information documents (UCITS KIID & PRIIPs KID), financial disclosure statements, fact sheets, translation and document and data dissemination.
Arma Partners acted as financial and advisor to FundAssist. Terms of the deal were not disclosed.
In a separate development, Broadridge has revealed today (11 May) that the US Patent and Trademark Office granted it a patent concerning blockchain technology that will “enhance the processes for proxy voting and repurchase, or repo, agreements”.
This new patent follows Broadridge’s blockchain-based bilateral repo pilot with two unnamed investment banks, which showed how blockchain can “increase operational efficiency, reduce risk and improve auditability”.
Broadridge adds that it will also expand its end-to-end proxy solution suite, using its partnerships with three unnamed banking institutions to employ blockchain for proxy vote transparency and analytics.