INFORMATIVE DOCUMENT FOR PROFESSIONAL INVESTORS ONLY AS DEFINED BY MIFID II.
LA FRANÇAISE CHOOSES ALLFUNDS BLOCKCHAIN TO STREAMLINE THE INTERNATIONAL DISTRIBUTION OF ITS FUNDS
La Française and Allfunds Blockchain have entered into a partnership in view of using blockchain technology to gain operational efficiency and reduce costs associated with the international distribution of Funds to professional investors. La Française will join the Allfunds Blockchain network and run its own blockchain node allowing it to directly receive and process orders for its Funds (subject to local fund registration).
Allfunds Blockchain enables streamlined order routing and provides real-time viewing of all related processes to its participants, increasing transparency, efficiency and reducing costs of distribution for asset managers. In addition and once operational (target date: 1 semester 2024), this new setup will allow La Française’s professional investor client base to benefit from more accurate cut-off times and improved reporting.
With a clear initial focus on international distribution, La Française and Allfunds Blockchain are planning to leverage further on blockchain technology. They will explore options, using the same approach, based on concrete and scalable “use cases” with a demonstrable ROI, combined with a strategic view of how the Allfunds Blockchain value proposal can open the door to new applications in the finance industry and new distribution models around tokenization.
Thierry Gortzounian, Managing Director of La Française AM Finance Services, said: “The cooperation between Allfunds Blockchain and La Française will allow us to continue to improve the array of services that we provide to our clients, namely by processing their orders more efficiently in a simplified yet secure framework. The blockchain platform deployed by Allfunds Blockchain will facilitate access to La Française's securities asset management expertise and provide value to professional investors.”
Christophe Descohand, Head of Innovation of La Française AM Finance Services, added: “This partnership marks a first step in La Française’s overarching strategy to associate technology and asset management. As such, we will be capable of offering improved operational processing at a reduced cost to our clients. We are delighted about the partnership with Allfunds Blockchain and looking forward to being operational.”
Ruben Nieto, Managing Director of Allfunds Blockchain, added: “We are thrilled and deeply honored to embark on this collaboration with an asset manager that has consistently been a pioneer in innovation. This new expression of trust reaffirms our vision for blockchain within the industry: unlocking its potential to streamline existing inefficient processes and using these initial strides as a springboard to expand its adoption.”
About La Française
The major changes linked to environmental and societal challenges are opportunities to consider the future. Identifying the drivers of change and understanding how they will shape global growth and ultimately influence the long-term performance of financial and real estate assets is at the heart of La Française's mission. It is in this spirit that the asset manager forges its investment beliefs and develops its mission.
The group uses its innovative capacity and customer-focused technology to design investment solutions that combine performance and sustainability.
Structured around two business lines, "Financial Assets" and "Real Estate Assets", La Française group serves institutional and wealth management clients in France and abroad.
La Française has over 49 billion euros in assets under management with operations in Paris, Frankfurt, Hamburg, London, Luxembourg, Madrid, Milan, Seoul and Singapore (as at 31/12/2022).
La Française is a subsidiary of Caisse Régionale du Crédit Mutuel Nord Europe (CMNE), a member bank of Crédit Mutuel Alliance Fédérale, which has long-term ratings of A+/Aa3/AA- from S&P (12/2021), Moody's (02/2022) and Fitch (05/2022).
About Allfunds Blockchain
Allfunds Blockchainis a standalone company within the Allfunds Group (AMS: ALLFG). Allfunds Blockchain develops a revolutionary technology with that generate a unique environment of security, privacy and data governance among financial institutions and enables new capabilities for programming and automating processes through smart contracts.
Learn more about Allfunds Blockchain’s trailblazing solutions here.