Cofunds posts bumper sales figures in record year

The platform finished a record year with £4.7bn in net sales, an increase of 19% from 2008, and £22.7bn AUA. September was the stand-out month, with AUA breaking the £20bn mark and net sales peaking with £749m of inflows. The bumper sales figures came during a year when Cofunds was involved in controversy over new pricing terms with fund houses. Cofunds inked agreements with its smaller groups in January, which saw all 60 agree to a flat rate increase of five basis points. At the tail-end of 2009, it signed new terms with 20 of its top 30 fund houses and said deals with the remaini...