Cofunds is set to list Neil Woodford's equity income fund next month, but will not offer advisers access to the manager's discounted share class.
The platform will carry the C share class for the CF Woodford Equity Income fund priced at 75bps, not the Z share class priced at 65bps.
Cofunds head of marketing Stephen Wynne-Jones said open architecture platforms would not be allowed to carry the cheaper share class.
“We understand Woodford’s Z class is only available where distribution is influenced,” he said.
“As an open architecture platform, we do not influence distribution, as we allow advisers to choose what funds they want and do not dictate what they choose.”
Woodford, who quit Invesco Perpetual to launch his own boutique firm, Woodford Investment Management (WIM), is launching the fund with a three-week offer period beginning on 2 June.
WIM has already hired a series of analysts, sales staff, and fund managers from his former employer.
Earlier this month, Invesco Pan European Equity Income fund manager Stephen Lamacraft, alongside fellow fund managers Paul Lamacraft and Saku Saha, quit their current roles at Invesco to join Woodford’s new venture.
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