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Cofunds Increases assets under administration by 71 per cent in 2005

Cofunds has increased its assets under administration by 71 per cent from 3.5bn to 6bn in the year to January 2006.

Cofunds believes this makes it the largest intermediary-only platform in the UK. It says it is attracting new intermediary firms to its platform each month and getting further support from existing clients. Managing director Andy Creak says the platform’s automated re-registration assistant is proving particularly popular.

Creak says: “We are now in the final stages of user testing for our new investment bond with L&G. We will enter the pensions market after A-day, and have several enhancements to our product range and toolkit in preparation. So we are planning to attract even more assets in 2006 than we have in 2005.”

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