UK-based Cofunds has broken the 30 billion assets under administration (AUA) barrier.
Cofunds reached 25 billion in April 2010 and consolidated its lead as the highest selling platform for the sixth quarter running in Q3 2010. Also in the past 12 months it launched research and financial planning tools and the Cofunds Pension Account, which helped contribute to the 7.5 billion increase in AUA since Jan. 1, 2010.
Reaching this milestone is a great achievement for the business, which would not have been possible without the endorsement of advisers, who we continue to work with closely, says Alastair Conway, sales & marketing director at Cofunds. We recognize that we need to continue to invest in the platform to maintain our position in the market as we head towards the deadline of January 2013. Our profitability and increasing AUA puts us in a great position to ensure we focus on the heart of our business, enabling advisers to carry out their work more easily.