CoFunds, the investment platform, has plans to expand into the life and pensions after this morning announcing Legal & General has bought a 25% stake in the firm.
Updated: 15:11, 20/4/05 In a joint statement issued by the firms, L&G says it is reinforcing its commitment to advice-based sales and the future of fund choice for unit trusts, Isas and pensions by investing £18.6m in the CoFunds platform – with a commitment to provide another £7m as needed – making L&G the largest shareholder of the supermarket’s six investment house owners. More specifically, CoFunds reveals “through an alliance with Legal & General, Cofunds will commence expansion into life and pension products later in 2005” while L&G sees the deal as important to its own multi-c...
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