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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.”


CML dinner is a drum do

The Council of Mortgage Lenders certainly knows how to drum up support. The Diary hears that chief executives of all the major UK lenders joined in the latest corporate bonding event with a will at the CML&#39s annual dinner. Chief execs were handed a length of piping and a drumstick and asked to join in […]

Prudential bond wraps up for Christmas

PRUDENTIAL FLEXIBLE INVESTMENT PLAN Type: Unit-linked portfolio bond Aim: Growth and income by investing in choice of five Prudential bonds Minimum-maximum ages: 18-89 Minimum investment: Lump sum £10,000 Allocation rates: Initial charge option &#45 £10,000-£19,999 &#45 102%, £20,000-£49.999 &#45 102.5%, £50,000- £74,999 &#45 103.5 £75,000 and above £103.75% No initial charge option – £10,000-£19,999 &#45 […]

New Credit Suisse move to sell PPML

Credit Suisse is making a fresh attempt to sell subsidiary Winterthur Life&#39s Sipp administrator PPML. Winterthur put PPML up for sale in May 2001 following a review of its operations but took it off the market two months later, saying none of the offers had made the grade, citing concerns over continued service as the […]

&#39Pensions have inconsistent approach to managing risk&#39

An actuarial analysis has found little correlation between funding levels of company pension schemes and the level of equity investment. Consultancy Watson Wyatt analysed the schemes of companies in the FTSE 350 index and found only a weak correlation between high funding levels and the amount put into riskier investments. Watson Wyatt says it might […]

Bonds going bust? Not so fast….

In recent months bond bears have been reinvigorated, and market commentary suggesting “the end of the bond (bull) market is near” has become commonplace. We think these comments are premature. Explaining the global government bond sell-off October has seen renewed pressure on global government bonds, initially provoked by a Bloomberg article suggesting that the ECB […]


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