Allfunds (AMS: ALLFG), one of the world’s leading B2B WealthTech platforms for the funds industry, offering fully integrated solutions for both fund houses and distributors, today announces that in 2024 it has passed the milestone of €100bn in assets under administration (‘AuA’) in the UK.

Allfunds opened its UK branch in 2005 as part of its strategic expansion across Europe. Since then, the UK has become one of Allfunds’ key international markets. In that time, the business has continued to capitalise on industry tailwinds to evolve its technology-enabled offering, fostering meaningful client partnerships and thereby delivering its services to ever more stakeholders in the wealth and asset management industry.

The €100bn AuA milestone is the culmination of a number of important, recent developments across Allfunds’ UK operations. Each has helped the business consolidate its market footprint and the role it plays as an enabler of clients’ business growth and competitiveness in an increasingly complex and dynamic industry environment:

· Allfunds has continued to appoint market-leading talent and in 2023, hired Tom Wooders as UK Country Head, responsible for driving business scale and prominence in what is a key strategic market for Allfunds.

· Also in 2023, Allfunds was authorised by the PRA and FCA to operate as a Third Country Branch in the UK, cementing Allfunds’ status as a leading, trusted provider of distribution, dealing, settlement and banking services to a growing roster of clients in the UK wealth management market.

· Experiencing strong growth since inception in the UK in 2005, this trajectory has accelerated in the last 18 months; driven by Allfunds’ reputation for service and delivery excellence, its ongoing innovations in services and technology and a focus on aligning closely to evolving UK market dynamics and client needs.

Juan Alcaraz, Chief Executive Officer of Allfunds commented: “I am delighted that our UK business has reached this important milestone. The wealth and asset management industry continues to undergo transformations as a result of the need to digitalise client services, coupled with increasingly compressed operating margins that are compelling firms to seek efficiencies for their day-to-day operations. Reaching €100bn in assets demonstrates the impact that our sophisticated, innovative solutions have had on our ability to attract more clients and foster long-term relationships with them. I am confident in the ability of the UK business to continue growing and evolving and playing an integral role to the success of the wider Group.”

Tom Wooders, UK & Ireland Country Head at Allfunds, continued: “Reaching €100 billion in assets under administration in the UK is a milestone that the entire local team should be proud of, and I would like to extend my thanks and congratulations to all for their commitment to their work. I would further like to acknowledge our clients and their continued trust in us; we look forward to remaining in close partnership with them in the years to come. Allfunds in the UK is an innovative, inspirational place to work and we continue to invest in our talent, as well as products and solutions to ensure this ethos endures and that we can continue to grow at the pace and scale we have achieved to date.”

Madrid / London, 23 April 2024 – Allfunds, one of the leading B2B WealthTech platforms for the fund industry, today announced a partnership with Google Cloud to enhance its capabilities through cloud computing, advanced data and analytics and artificial intelligence.

The partnership aims to deliver transformational solutions for Allfunds' extensive network of Distributors and Fund Houses, providing enhanced capabilities, strengthened security and cutting-edge tools to address the complex challenges of fund distribution and it will focus on two key areas:

● Drive data and AI innovation that will allow Allfunds to create new financial information products, fostering new growth opportunities.

● Develop a secure, scalable, sustainable technological architecture to aid Allfunds' operational growth and migration to cloud services.

The partnership will enhance all end clients’ access to advanced data analytics tools, and in addition, complement Allfunds Data and Analytics present offering, providing a more robust technological architecture. Fund houses will have the ability to gain deeper insights into investor behavior, market trends, and risk profiles, enabling more informed decision-making for product development, portfolio optimization, and distribution strategies. Simultaneously, distributors will benefit from faster access to critical data, streamlined operations, and greater scalability, made possible by the infrastructure and technological architecture optimization powered by Google Cloud.

Juan Alcaraz, CEO and Founder of Allfunds stated, "At Allfunds we always strive to be at the forefront of innovation, whether by developing solutions in-house with our own talented team or by partnering with leading experts in their field, such as in this strategic partnership with Google Cloud. True to our WealthTech DNA, we remain committed to delivering the best tools and technology for our clients and continuing to support them on their journey of growth and success.”

Tara Brady, President, Google Cloud for Europe, Middle East and Africa added “There is a significant opportunity to transform the financial services industry with cloud and AI technologies. Our partnership with Allfunds will help power its innovation journey with Google Cloud's AI technologies and our secure and scalable infrastructure. Our collaborative efforts will empower Allfunds' clients with the tools and insights they need to make better-informed decisions and drive growth.”