MainFirst will combine its business development services with those of Ethenea, the asset manager has announced in a note.
The companies will now offer distribution support services via Fenthum, a newly formed firm headquartered in Luxembourg. It will take over all the distribution support activities of the two fund companies with immediate effect.
This comes as part of the companies’ efforts to boost their business development services. Following the merger of the teams, clients will be able to access a larger range of funds.
The note released by MainFirst reads: ‘Fenthum only provides distribution support for the two companies. The independently managed asset managers MainFirst and Ethenea, including the independent portfolio managements, continue to be two separate companies.’