View more on these topics

Cofunds pips Skandia to top platform AUA table

Cofunds has overtaken Skandia to take the top spot in platform assets under administration, after its assets rose 4 per cent from £39.2bn to £40.7bn in the second quarter.

Research from The Platforum shows Skandia’s AUA fell 3 per cent from £40.2bn at the end of Q1 to £39.bn at the end of Q2, putting it in second place.

Fidelity FundsNetwork is in third after its assets fell 8 per cent from £37.5bn to £34.4bn.

Total platform assets fell 0.6 per cent in the second quarter to £189.2bn, compared with £190bn at the end of Q1. The Platforum attributes the drop to volatile markets.

The Platforum managing director Holly Mackay says: “Cofunds has posted solid, positive net growth now for the last nine quarters, adding assets through institutional, adviser and execution-only channels.”

Thomas and Thomas Financial Services managing director Darren Lloyd Thomas says: “Cofunds has been quicker to get its adviser charging facility in place whilst we still await Skandia’s plans.”

 

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment