The companie´s background
Attrax Financial Services S.A. was founded in 2000 by today's DZ PRIVATBANK S.A. and was integrated into Union Asset Management Holding AG as a wholly owned subsidiary in 2005. It is firmly anchored in the Genossenschaftliche FinanzGruppe – Germany's extensive network of cooperative financial services institutions – and in recent years has managed to win a number of institutional clients outside this network.
attrax was founded in 2000 by what is now DZ PRIVATBANK S.A. In 2003, attrax became the third-party mutual fund platform for all local cooperative banks. From 2004, business development activities among institutional clients outside the cooperative financial network were intensified.
Takeover of attrax, which became a wholly owned subsidiary of Union Asset Management Holding AG. attrax was reorganized to focus on B2B fund brokerage.
In 2006, attrax set up a sales team to manage relationships with local cooperative banks. The company’s IT platform was realigned to facilitate efficient and scalable processing.
In 2007, attrax standardized its fund processing, e.g. by expanding the use of SWIFT and obtaining SAS 70 certification. The sales team for institutional clients was expanded.
The introduction of the investment companies (KVG) management system in 2008 triggered the ‘industrialization’ of the financial sector.
Expansion of brokerage activities within the cooperative financial network.
The internet presence of attrax was overhauled and a completely new website was launched in 2010.
The fund universe of attrax grew by around 1,000 funds in each of the two preceding years.
attrax became certified in accordance with ISAE 3402.
Market launch of attrax-online, a web-based order management and information tool.
Further automation of fund investment process.
attrax implemented an environmental management system and became certified in accordance with ISO 14001. We underlined our commitment to corporate responsibility by embedding eco-conscious practices in our processes.
In the first quarter, attrax broke through the €50 billion barrier in terms of fund value. The number of funds offered on the attrax platform climbed above 15,000.
In January 2020, assets under management rose above €70 billion. A total of 18,000 funds can be traded via the attrax platform. Further funds can be added to the offering at short notice in response to market demand.
The business activities of attrax S.A. and Union Investment Financial Services S.A. were merged as of 1 January 2021 and the new company renamed Attrax Financial Services S.A.