Cofunds and Hargreaves Lansdown topped platform sales for 2016, according to data from Fundscape, while passive asset managers have begun to penetrate the upper rankings of fund groups with the highest sales on platforms.
Hargreaves Lansdown had the highest asset growth in 2016, with assets growing 19% to £11.2bn but Cofunds, now part of Aegon, remained the largest platform in the UK with £83.7bn AUM. Fundscape said overall platforms' net sales rose to £10.5bn in the last quarter of 2016, the highest quarterly figure for 2016. Platform sales plummet in Q3 despite Brexit market boost However, annual net sales were down 16% to £38bn, compared to £45bn reported in 2015. TOP 5 PLATFORMS BY ASSETS IN Q416 (£bn) Cofunds £83.7bn Fidelity £71.5bn Hargreaves Lansdown £70.0bn Standard Life (inc Ele...
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