Cofunds service to ease deals

Previously only equities could be dealt and settled efficiently using the Crest system, but investment funds had to be sorted through a number of intermediaries. Now Cofunds has launched a nominee service so the ‘back office’ jobs can be carried out more efficiently. Andy Creak, Cofunds managing director, said: “The fact that investment funds cannot be dealt and settled on Crest has been a thorn in the side of asset managers for years. “Discretionary firms have been looking for a solution to help with the anomalies that dealing in investment funds as well as equities can create. ...