In a move aimed at improving transparency and efficiency in the European asset management industry, three key players – Kneip, FNZ and Nasdaq – announced a new strategic partnership on 5 October 2023. The alliance aims to improve the availability of investment products on FNZ’s global wealth management platform by introducing standardized five-character Nasdaq Fund Network (NFN) identifiers.
The implementation of these NFN identifiers, a widely recognized normative framework, will simplify the buying process for investors, the companies say. The initiative aims to improve efficiency and transparency in the European investment market, where the lack of unique identifiers has often been a challenge, the joint statement explained.
Navigating through industry challenges
Kneip, a provider of fund data management and reporting solutions covering 40% of Europe’s Undertakings for Collective Investment in Transferable Securities (UCITS), aims to enable more accurate and consistent data controls across service providers and platforms. Working with Nasdaq’s NFN, Kneip aims to improve the visibility of mutual fund symbols through NFN’s extensive distribution network.
FNZ, known for its comprehensive wealth management platform that integrates investment technology, infrastructure and operations, will host these NFN IDs. Director of Kneip, Enrique Sacaunoted that as NFN’s exclusive mutual fund registration partner in Europe, it looks forward to making it easier for European investors to locate funds.
Managing Director of Asset Management Solutions at FNZ, Adam Green, expressed the company’s enthusiasm for partnering with Kneip and Nasdaq to accelerate innovation in asset management and the asset management industry. He said FNZ’s mission is to use technology to democratize wealth and create a more transparent, sustainable and personalized wealth management industry.
Vice President of Investment Intelligence at Nasdaq, Garrick Stavrovich, was also optimistic about the collaboration. He said the partnership will provide investors with greater transparency and a more efficient process for investment product transactions.
This article was written by Done in English, translated and published by Paperjam in French.