Allfunds signs Service Agreement with Brazil’s BB asset
By Gloria Methri
Allfunds, a WealthTech B2B platform for the fund industry has signed a service agreement with BB Asset, the Asset Management entity of Banco do Brasil. The agreement helps expand Allfunds’ footprint in Brazil where it has local presence since the opening of its São Paulo office in 2018.
By using Allfunds’ intermediation services, BB Asset will increase the range of international funds, relying on a network of almost 3,000 managers and 130,000 ISINs available on the platform.
This digital ecosystem, the Allfunds Connect platform, includes access to important investment fund research and selection tools.
Marcelo Pacheco, Executive Director at BB Asset Management, said, “The partnership with Allfunds is in line with our position of being an innovative asset both in our investment funds offering and, in our processes, and will certainly contribute to providing simplified access to investment funds from international managers that will compose our strategies”.
In addition to accessing the B2B platform for global fund distribution, BB Asset will benefit from Allfunds’ digital tool suite. Its current digital offering can assist users in the selection of investment opportunities through its powerful fund screener, ESG filters, data & analytics reporting, RegTech, and portfolio monitoring features.
Laura Gonzalez, Head of Americas at Allfunds, said, “We are very proud that BB Asset has become our client, an entity of strategic importance in the region, not only for its volume of assets but also for having been at the forefront of solutions for investments abroad. This relationship strengthens our position in the Brazilian market, where we have been present since 2018. The Brazilian market, due to its sophistication, has always been a challenge for the foreign fund industry. That is why we are especially excited about the top position we have achieved.”
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