COFUNDS announced it had reached £10bn in assets as it carries out tests on a new offshore bond product and investment trust links to be launched next year.
The fund platform, launched five years ago, claims reaching this milestone makes it one of the largest businesses of its kind in the UK. It said the announcement highlighted how fast the platform business is soaring, predicting assets on platforms will reach £180bn by 2010. The company is currently developing its offshore bond and plans to include offshore funds on the platform. It is extending services to fee-based advisers which includes boosting its cash management proposition. According to Cofunds chief executive Charlie Eppinger, 2006 marked the launch of its single premium bond an...
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