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Cofunds to cater for institutional clients

Cofunds is moving into the institutional client business with the launch of Cofunds Institutional Services. The new business unit will deal with whole fund trading, settlement and custody as well as accounting for and managing any trail commissions.

Cofunds Institutional Services will be headed by Stephen Mohan as newly promoted managing director of Cofunds Operational Services. He is joined by director of institutional services Christopher James, director of institutional accounts Hamish Rowan-Hamilton and business development consultant Anthony Wolfe.

Mohan says: “Cofunds Institutional Services will cater for the needs of discretionary asset managers and private client stockbrokers as they make increasing use of funds, as well as life insurance companies who are embracing open architecture and global custodians.”

Mohan says the problems these clients face in dealing and settlement for investment funds is wholly different to those related to the securities markets. He says this new Cofunds offering can help with the fact those responsible for portfolios which contain securities and investment funds have always had substantial operating problems.

Mohan says: “With our proven, scaleable systems infrastructure, we are able to support a comprehensive, robust, wholesale proposition. Our aim is to be the Intel of the investment funds world, working with other firms to simplify and improve their administration and reduce their costs.”

He adds: “The new business unit reflects the importance that Cofunds now attaches to this area of its business and allows delivery of a service designed to meet institutional client requirements. A key benefit is the addition of institutional only funds to this service, providing access to the full range of investments required in this sector.”

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