Cofunds service to ease deals

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COFUNDS has launched a new service allowing stockbrokers and investment fund managers to process deals in one place.

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. “In par...

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