Allfunds signs deal to bring fund range to Kuwait

Contract handshakeAllfunds, which has been named as Europe's largest fund platform, has signed its first deal with a Kuwaiti firm.

The deal will bring the nearly 49,000 investment products on the Allfunds platform to customers of Global Investment House, a Kuwaiti investment company.

"This is the first agreement with a Kuwaiti entity and is in line with our strategy to work alongside leading financial institutions in the region," said Yunus Selant, regional manager for the Middle East and Africa at Allfunds.

Created in 2000 and co-owned by Santander and Intesa Sanpaolo, Allfunds was named the largest "open architecture" funds platform in Europe in 2015 by Platforum, a research and advisory group.

Allfunds has more than €230 billion ($250 billion) under management in products from more than 520 asset managers.

"This is part of our ongoing commitment to provide our clients access to international investment opportunities," said Faisal Al Othman, head of international asset management at Global Investment House.

©2016 funds global mena

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