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L&G becomes largest shareholder in Cofunds

Legal & General has bought a 25 per cent stake in Cofunds, making it the largest shareholder in the fund supermarket.
L&G paid 18.6m for its stake and has the option to invest a further 7m in return for equity from the five other shareholders.
IFDS is now the second largest shareholder with 24 per cent, followed by Gartmore with 18 per cent, Jupiter and Threadneedle with 15 per cent and Prudential with 3 per cent.

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