Fundrock, one of Europe’s largest third-party management companies with a significant presence in Luxembourg, on Monday said it has been appointed by Royal London Asset Management Funds plc, also known as RLAM, to provide management and distribution services for its Irish fund range.
Royal London is a leading UK fund management company, managing assets on behalf of a wide range of clients. Fundrock said it will provide ‘ManCo’ services to Royal London’s Irish fund range and comprehensive distribution support within the European Union. The funds’ combined assets under management are over 17 billion euro.
“We are delighted to be working with Fundrock who share our philosophy of providing bespoke solutions to meet specific investor objectives,” said Rob Williams, Chief Distribution Officer at Royal London Asset Management. “We were impressed by Fundrock’s comprehensive suite of services beyond management company solutions, including their European distribution capabilities.”
Partnering fits wider trend
Fundrock said its appointment fits into a wider trend of non-European Union based managers partnering with established institutional third-party management companies, specifically when it concerns Irish self-managed funds. With significant substance and technology, the right partner can help funds to deliver efficiencies and meet their resourcing requirements” amid Brexit and changing Irish requirements, it said.
“We are pleased to be supporting Royal London’s Irish funds with our leading ManCo and European Distribution services,” said Paul Spendiff, Managing Director Fundrock Management Company (pictured). “This appointment is recognition of our significant scale and ability to offer our clients a substantial, well-capitalised solution with deep and broad expertise, packaged into a robust offering with strong local presence.”
Fundrock, part of the Apex Group, has a significant Irish presence, employing over 65 people in Ireland. As of end 2021, Fundrock is one of the largest ManCos in Europe, overseeing more than 470 funds with a total of 134 billion euro in assets under management. The Fundrock Group has more than 170 employees in six countries including Luxembourg, United Kingdom, Ireland and France.
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