Major US fintech firm Broadridge Financial Solutions has completed its acquisition of FundsLibrary, a firm which provides fund documents and data to UK and European advisers and fund managers.

FundsLibrary will be combined with FundAssist, Broadridge’s European Funds Regulatory Communications business.

Broadridge says the combination of FundsLibrary’s data platform and technology and Broadridge’s fund calculation, document creation and translation capabilities will help fund managers and distributors working in multiple jurisdictions.

The combined business will be known as Broadridge Fund Data and Regulatory Communications Solutions, and will be led by Arun Sarwal, former chief executive of FundsLibrary.

Mr Sarwal previously held roles as senior vice president of SS&C Technologies, CEO of DST Investment Management Solutions, COO at Scottish Widows Investment Partnership (SWIP) and was one of the founders of Kurtosys Systems. 

He said: “This combined business will enable Broadridge clients to utilise a single provider for the creation and dissemination of fund marketing and regulatory documents so they can increase distribution opportunities and meet the demanding standards of regulation.”

Broadridge manages and distributes data for 700 global fund groups and supports over 200m fund data requests each year, it says.