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Profitable Cofunds hits £15bn

Cofunds has passed the £15bn mark in assets under administration on its platform.

The platform reached £10bn at the end of 2006 and Cofunds 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 stockmarkets since last August.

The company admits that due to its extensive investment in growing the business since it was first established in 2001, it did not become profitable until last year.

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.

“We have built links with a range of tax wrap providers, which is a further demonstration of our independence. There are still more to come. In answer to repeated queries, as a result of this growth, Cofunds has been trading profitably for some while.”

Cofunds says it is continuing its investment in technology and will be launching additional services for fee-based advisers in due course.

Alliance Trust’s top 20 investment trust sellers1: RIT Capital Partners2: Scottish Mortgage Investment Trust3: British Empire Securities & General Trust4: Law Debenture Corporation5: Temple Bar Investment Trust6: Caledonia Investments7: Lowland Investment Company8: Merchants Trust9: Templeton Emerging Markets Investment Trust10: SVM Global Fund11: City of London Investment Trust12: Perpetual Income & Growth Investment Trust13: JP Morgan Indian Investment Trust14: TR Property Investment Trust15: Witan Investment Trust16: JP Morgan Emerging Markets Investment Trust17: JP Morgan Fleming Mercantile Investment Trust18: Edinburgh Investment Trust19: Foreign & Colonial Investment Trust20: Murray International Trust


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