The first Legal & General/ Cofunds platform will go live this week, with the launch of a joint proposition for Bradford & Bingley featuring 34 funds from 12 investment houses.
The offering, for L&G's tied partners, will feature an investment bond and Isas as well as access to unwrapped funds. Available from 1 July, the platform is a scaled-down version of the Cofunds/L&G offering to be launched later this year to the wider intermediary market.
L&G will hold the external funds in its own branded product. Initially, the bond will be distributed solely by Bradford & Bingley and will be rolled out to L&G's other tied partners, such as Alliance & Leicester, at a later stage.
Funds have been chosen from three areas: income, growth and multi-manager. Groups featured in the tied offering include Gartmore, Threadneedle, Schroders, New Star, Investec and Jupiter. Some of Legal & General's own funds will also be included.
Jupiter, which will have two vehicles on the panel, and Gartmore will make up the multi-manager part of the proposition. Products from Schroders and Threadneedle will be available to B&B clients, and it is believed that products from Investec and Invesco Perpetual will also be featured. Funds from M&G and Fidelity will not be included at launch, although they may be added later.
The intermediary L&G/Cofunds offering, expected to launch in September, will feature between 200 and 300 funds from a wider range of houses.
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