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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.”


Leeds criticised over 1.89% loan deal

Leeds Building Society has been slammed by IFAs for marketing a mortgage to first-time buyers that sees monthly payments jump by almost 350 per cent after two years. Leeds says the 1.89 per cent headline rate is designed to help FTBs and young professionals get on the property ladder but it locks borrowers into its […]

Protect clients’ pensions from new tax

IFAs must contact clients over transitional protection for their pension funds or risk them being hit with a big tax bill, warns Intelligent Pensions. The firm is writing to all of its clients to explain how A-Day will trigger an additional tax charge under the new pension simplification rules unless steps are taken before April. […]

Fidelity launches two multi-manager funds and global reits fund

Fidelity is launching a multi-manager portfolio of special situations funds in an effort to stave off competition following the effective closure of its own fund run by Anthony Bolton. The firm says the launch on January 16 meets advisers needs in assessing the broad range of funds marketed under the special situations, opportunities or dynamic […]

Virgin Money launches new cancer cover protection product

Virgin Money is launching a cancer-only protection product, to be administered by Scottish Widows.Money Marketing reported the planned launch last February, which was denied by Virgin Money. The new product, to be called The Big V, is not a critical illness policy, and will run a severity-based approach to cover. Virgin says it will be […]


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