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Cofunds reaches £15bn in assets under administration

Cofunds has reached £15bn of assets under administration on its platform.

The platform passed the £10bn mark at the end of 2006, and it says that although net inflows have continued at high levels in recent months, the growth of assets under administration has been restricted by the slide in world markets since last August.

Cofunds chief executive Charlie Eppinger, says: “At a time when it seems that some platforms have struggled with technology issues, systems that can cope with large flows of business are fundamental to our continued growth.

“We have developed a balanced business with good flows coming in ISAs, unwrapped funds, SIPPS and insurance bonds.”

Eppinger adds: “In answer to repeated queries, as a result of this growth Cofunds has been trading profitably for some while.

“This year will see us maintaining our commitment to the intermediary market by extending our range of services to fee based advisers.”

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