SWEDEN/LUXEMBOURG – Stockholm-based fund manager Robur has appointed European Fund Administration (EFA) to take over the administration of its Luxembourg fund range.
The mandate represents €5bn in assets under management spread across13 sub-funds which are currently administered inhouse by the Luxembourg banking arm of Swedbank, Robur’s parent company.
Anders Borgh, head of administration at Robur, says that the move allows Robur to concentrate on its key areas of asset management, custody and distribution.
“To expand our fund business, we needed a focused partner with a strong technical platform and EFA fits the bill. Streamlining our administration function will benefit our clients and provide us with a platform for growth,” he says.
EFA currently administers 1,002 sub-funds representing €68bn under management.