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Thorman says Fundsdirect could be sold

Investment Funds Direct Ltd is reviewing its B2C platform Fundsdirect, with a view to selling it or transfer assets off.

Ascentric managing director Hugo Thorman says IFDL, part of the Royal London Group, is currently reviewing the strategy of Fundsdirect, a trading name of IFDL, due to a lack of focus on the B2C platform.

Thorman says: “Fundsdirect is a small business and we are reviewing the strategy. We are focusing all our attention on Ascentric and white label and we are not really spending enough time on Fundsdirect so we thought we ought to review its future. We could keep it, we could sell it, or we could transfer the business somehow.”

But Thorman adds: “We have not fully decided yet.”

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