DBS inks an agreement with Allfunds to leverage its fund distribution capabilities and boost penetration in Asia.
DBS’s retail banking and wealth management arm will look to leverage from the partnership «access to a broad range of investment funds and utilize the asset servicing services which Allfunds provides in Asia, and globally,» according to a statement.
According to Allfunds’ Asia regional manager David Perez de Albeniz, the partnership marks a common goal towards increasing mutual funds penetration in Asia, highlighting potential synergies between DBS’s «innovative digital offering» and Allfunds’ open-architecture platform. Marc Lansonneur, head of managed solutions, balance sheet products and investment governance at DBS Wealth, echoed the sentiments and underlined the comprehensiveness of the Allfunds platform.
Allfunds presents a one-stop solution for our distribution needs – access to an extensive fund eco-system, leading technology proposition, and a full suite of servicing capabilities – which we seek to leverage to achieve greater convenience, efficiency, and productivity moving forward, Lansonneur said.