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

Cofunds project part of digital savings business strategic review

clock

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 ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Routine way of blending multi asset funds keeps biases impacting returns

Routine way of blending multi asset funds keeps biases impacting returns

Scopic Research to update its blending tool to mitigate inherent issue

Hope Coumbe
clock 29 February 2024 • 1 min read
Evelyn MPS team takes 'tentative' steps into Baillie Gifford EM fund

Evelyn MPS team takes 'tentative' steps into Baillie Gifford EM fund

‘It is possible we are nearing a turning point in Asia and emerging markets’

Hope Coumbe
clock 29 February 2024 • 1 min read
RSMR launches Passive Plus MPS range with five portfolios to market

RSMR launches Passive Plus MPS range with five portfolios to market

Range is aimed at advisers who prefer the simplicity of passive funds

Hope Coumbe
clock 29 February 2024 • 1 min read