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Cofunds claims 54% of supermarkets&#39 Isa sales

Cofunds claims it now has over half of the market for Isa sales by fund supermarkets.

It says it has a 54 per cent share of Isa business, a big rise from 37 per cent for the second quarter. The firm says its assets have risen by 25 per cent to £1.4bn in the last 12 months.

Cofunds also claims a 48 per cent share of Pep transfers due to growing demand for consolidation and increased confidence in investment markets.

Marketing director Rick Andrews says: “These figures put Cofunds in a great position as we head towards our year-end. We are one of the fastest-growing businesses in this industry. There is growing demand from intermediaries for consolidation services. Our extensive fund range, for example, reflects demand from our intermediaries to move all their clients&#39 fund assets to us. In 2004, we will be working hard on new products and services to make sure that we stay ahead of our competitors.”

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