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C Hoare & Co appoints Cofunds Institutional as fund administrators

Cofunds Institutional has been appointed administrator for the investment funds held in C Hoare & Co’s client portfolios.

C Hoare & Co is a private deposit banks with £1.6bn in assets under management.

The assets are a mix of equities, fixed income and collective investments.

Cofunds says that managing a portfolio which contains both funds and exchange listed securities can be difficult as there is no common system for dealing and settlement in funds nor a generally available method for accounting for commissions.

Cofunds Institutional provides a specialist service that is designed to simplify the amount of in-house processing, reduce costs and improve reporting.

C Hoare & Bo head of investment management Diane Mills says: “The Cofunds Institutional service represents a considerable step forward for the bank in the administration of investment funds, and will introduce significant operational efficiencies in areas including dealing, settlement, custody and commission processing.”

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