Cofunds has announced it has hit the £40bn assets under administration (AUA) milestone.
The platform, which started the year with AUA of just under £36bn, said the landmark figure was reached after it saw gross inflows of £3bn during Q1 - a 28% increase on the previous quarter.
"To continue to grow steadily in what are trying market conditions is testimony to our robust business model and our commitment to enable our clients to do more, more easily," said CEO Martin Davis (pictured).
"We've had a good start to the year by hitting the £40bn AUA milestone, having our financial strength upgraded by independent actuaries AKG from B ‘strong' to B+ ‘very strong'and winning some significant client mandates with more in the pipeline."
He added facilitating transitions to RDR-compliant business models and continuing the streamlining and risk proofing of the fund trading cycle will remain its core areas of focus both this year and next.
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