Allfunds, the largest fund platform in Europe and world leader in the wealth tech industry, has launched the Allfunds COVID-19 Solidarity Fund Challenge with the aim of feeding, for a month, 450 Spanish families who are in a situation of extreme need. An initiative that will also take place in Italy in the coming weeks.
To promote this challenge, the Allfunds Solidarity Fund will make a total donation of €80,000. Of this amount, €50,000 will go to supply food to 450 Spanish families. The remaining €30,000 will be donated to Italian families affected by the pandemic.
In Spain, Allfunds has set itself the goal of reaching the figure of €150,000 in three weeks for its Allfunds Solidarity Fund Challenge initiative COVID-19. To this end, the entity has appealed to the fund industry, but it also extends to companies in other sectors, as well as individuals.
In critical situations such as the one we are currently experiencing, companies, and specifically, the financial sector, must be in solidarity, get involved and play an active role in aid to the most disadvantagedJuan Alcaraz, CEO of Allfunds
In collaboration with the foundation iHelp and supermarket chain Carrefour, along with the help of hundreds of volunteers, the wealthtech will provide a weekly purchase to each of the 450 families, so that they have access to the products necessary for proper nutrition.
In addition, Allfunds has created the crowdfunding platform (www.fondosolidarioallfunds.com) from where the entity will channel, from now on, all the aid that the fund receives for its social projects. This tool will also allow Allfunds employees to propose and promote new ideas, as well as choose the challenges that may be financed by the Allfunds Solidarity Fund. The Allfunds COVID-19 Solidarity Fund Challenge is, therefore, the first initiative with which the platform is inaugurated.
About the Allfunds Solidarity Fund
Allfunds is firmly committed to improving the local communities in which it operates, as well as many other places in need, which is why, in 2015, it decided to create the Allfunds Solidarity Fund. The vehicle’s primary objective is to carry out social works for the benefit of citizens through donations channeled through the fund itself, collected in actions, campaigns, and events organized by Allfunds. In 2019, the Allfunds Solidarity Fund managed to donate €78,783. This figure practically triples donations from the previous year (€66,000).
Among the main initiatives organized by the entity, is the Solidarity Fund Race to support the fight against childhood cancer, where last year, in its first edition, it was sponsored by 22 companies in the financial sector.
Founded over 20 years ago, Allfunds has evolved into one of the world’s leading wealthtech and fund distribution companies with a service offering which includes data & analytics, trading & execution services, portfolio & reporting tools, research and regulatory solutions. Additionally, Allfunds offers its technology solution “Connect”, a digital ecosystem to bring together fund houses and distributors.
Today Allfunds has more than €620 billion assets under administration and offers more than 88,000 funds from over 1,680 fund houses. Allfunds has a presence in Spain, Italy, Luxembourg, Switzerland, United Kingdom, United Arab Emirates, Singapore, Chile, Colombia, Brazil, Sweden, France, and Hong Kong and has agreements with over 685 distributors, including major commercial banks, private banks, insurance companies, fund managers, international brokers, and specialist firms from 51 different countries.