European Fund Platforms Form Industry Group

A number of financial institutions have announced the formation of an industry body for fund distribution platforms, the Fund Platform Group (FPG).

FPG's founding charter members include Société Générale Securities Services, RBC-DEXIA Investor Services, Fund Channel, Moventum, MFEX, Attrax and Swisscanto London. KNEIP will have an associate member role in the group, having initiated the discussions about FPG's formation in 2010.

The group's aims are to establish a set of professional industry standards, and to facilitate the efficient distribution of funds to end-investors as well as advise on best practice issues.

"Fund platforms are pivotal to the evolution of the global distribution landscape, regardless of the type or location of a fund," says Edouard Bokutenge, director of distribution support at RBC-DEXIA and the FPG chairman. "This association acts as a catalyst for the global development of the fund industry. At a time when new legislations are facilitating cross-border distribution but also bringing greater complexity, we believe that the creation of a strong and independent Global Fund Platform association is critical. We are very pleased to meet this need."