group ends exclusivity agreement in response to criticism from intermediaries
Cofunds has taken action to remedy the two main intermediary criticisms of its fund supermarket offering. The exclusivity agreement that kept Fidelity off Cofunds and the four Cofunds shareholders off FundsNetwork has now ended, thereby allowing each platform to offer a more complete range of funds. In addition, Cofunds has signed up a new shareholder, International Financial Data Systems (IFDS), the fund administration specialist, to improve service by replacing a number of its manual processing systems with IFDS's proprietary straight-through processing systems. Darius McDerm...
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