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Selestia completes IFA range with four firms

Multi-manager platform Selestia has signed up four new fund companies, including Cofunds&#39 backers Threadneedle and M&G, in a move it says completes its offering to IFAs.

Threadneedle&#39s and M&G&#39s, exclusivity contracts with Cofunds expired recently. They will join with New Star and Govett Investments to boost Selestia&#39s range of funds from 200 to 225 and managers to 36.

The funds include Threadneedle&#39s UK growth and high-yield bond funds, M&G&#39s global managed and emerging markets bonds, New Star&#39s higher-income and UK aggressive funds and Govett&#39s US and Japan opportunities funds.

Threadneedle, with 12, has the most funds, with M&G on five and New Star three. Selestia was unable to agree terms with Jupiter and Gartmore, Cofunds&#39 other two backers.

When it launched in October, Selestia said it wanted 200 to 250 funds. It will not be seeking to attract any more firms.

Director Bill Vasilieff says: “We are pleased to have the new funds and we now have a range which more than meets the needs of the IFA market.”

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