View more on these topics

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

Recommended

Dual to the death?

In a competitive market, how far should your business go to gain advantage? Should you pursue opportunities for growth and increased market share, even if it compromises your corporate principles, values and vision? How long can you persist in positioning your business as a good corporate citizen when you are seeking to put your rivals out of business?

Shake-up ended up on the Rock

Outgoing FSA chairman Sir Callum McCarthy may be responsible for shaking up financial services regulation, but will be remembered most for the regulator’s failings over Northern Rock.

Stimulating tales

Emerging Europe governments are pushing forward with much needed investment initiatives to boost the long-term development of their economies. Much of Eastern Europe, and to a lesser extent Turkey, has suffered from under-financing for more than 20 years and poor infrastructure is one of the main obstacles to improving economic growth.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com