Maybank Kim Eng Singapore has embarked on a partnership with Allfunds to provide global access to third-party mutual funds.
The partnership agreement was signed on April 1.
Allfunds is one of the world’s leading wealth tech companies that’s based in Madrid, Spain. It has the world’s largest fund distribution platform including those offered by Maybank Asset Management. Allfunds has over 1,000 fund houses and EUR1.3 trillion ($2.05 trillion) in assets under management (AUM).
The partnership, which is part of Maybank Kim Eng’s strategic initiative to expand the range of products and services to its clients, allows the firm to leverage on Allfunds’ extensive fund distribution network and digital footprint to offer its clients access to over 100,000 funds globally.
In addition, the partnership will also give clients access to a wider range of portfolio solutions, including a sustainability-first approach to investing that is growing in momentum.
According to Morningstar, sustainability-focused funds attracted a record amount of capital in the first quarter of this year, even as the pandemic rattled worldwide markets. Global sustainable funds saw inflows of US$45.7 billion ($61.48 billion), while the broader fund universe had an outflow of US$384.7 billion.
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Aditya Laroia, Maybank Kim Eng Singapore’s Head of Investment Management, says, “We are delighted to embark on this partnership with Allfunds as a timely portfolio diversification tool for our clients - providing them with access to an extensive fund distribution network, leading digital ecosystem and a full suite of servicing capabilities.”
“Maybank Kim Eng always strives to continuously improve the client experience by providing our clients with tailored global multi-asset solutions. Whether our clients are retail investors, family offices, wealth managers or hedge funds, we aim to play an important role in connecting our clients to new opportunities by supporting their long-term business objectives and investment goals,” Aditya adds.
“We have seen a marked increase in the number of new inquiries on ESG products, so this partnership will be central for us to be the bridge between wealth creation and sustainability, in line with Maybank’s mission of Humanising Financial Services.”
David Pérez de Albéniz, Head of Asia for Allfunds, says “We are very pleased to have been selected by Maybank Kim Eng as a global provider, simplifying their access to a vast universe of mutual funds. Maybank Kim Eng is a leader in their sector and we are looking forward to working together to provide their clients with the most comprehensive set of solutions in the market.”
