Cofunds' flows drop as parent looks to improve platform's 'efficiency'

Cofunds project part of digital savings business strategic review


Cofunds' parent company Legal & General (L&G) has announced it is looking to improve the 'operational efficiency' of the platform, which reported a drop in net asset flows compared to last year.

The insurance and investment group, which became the sole owner of the business in May this year, said the project at Cofunds is part of a strategic review of its digital savings business. Despite being the largest shareholder in Cofunds since 2005, before buying the remaining stake earlier this year, reports have suggested L&G is looking to offload the platform. In its latest results, L&G revealed Cofunds has generated year-to-date net flows of £2.6bn, but this was lower than the £4bn gained in the corresponding nine-month period last year. Total assets continue to climb and have ...

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