Allfunds (AMS:ALLFG), a leading WealthTech B2B platform for the fund industry, offering fully integrated solutions for fund managers and distributors, announced a service agreement with BB Asset, the Asset Management entity of Banco do Brasil.

The agreement further increases Allfunds’ footprint in Brazil where it has a solid commitment and continued business activity with local presence since the opening of its representation office in São Paulo in 2018.

With this commercial partnership, BB Asset reinforces its value proposal in international open architecture, a segment in which it already occupies a privileged position, with relevant international exposure. By using Allfunds’ intermediation services, BB Asset will further increase the range of international funds, relying on a network of almost 3,000 managers and more than 130,000 ISINs available on the platform, without the need to sign agreements directly with each one of them. This digital ecosystem, the Allfunds Connect platform, includes access to important investment fund research and selection tools, reaffirming BB Asset’s commitment to innovation and digitalization in its international product offering.

Marcelo Pacheco, Executive Director at BB Asset Management, confirms this commitment: “The partnership with Allfunds is in line with our position of being an innovative asset both in our investment funds offering and, in our processes, and will certainly contribute to provide simplify access to investment funds from international managers that will compose our strategies”.

In addition to accessing leading B2B platform for global fund distribution, BB Asset will benefit from Allfunds’ digital tool suite. An ecosystem under constant evolution, Allfunds’ current digital offering can assist users in the selection of investment opportunities through its powerful fund screener, ESG filters, data & analytics reporting, RegTech and portfolio monitoring features.

Laura Gonzalez, Head of Americas at Allfunds, said: “We are very proud that BB Asset has become our client, an entity of strategic importance in the region, not only for its volume of assets, but also for having been at the forefront of solutions for investments abroad. This relationship strengthens our position in the Brazilian market, where we have been present since 2018 and established ourselves as the reference WealthTech platform for players wishing to diversify by investing in international funds. The Brazilian market, due to its sophistication, has always been a challenge for the foreign fund industry. That is why we are especially excited about the top position we have achieved.”