Cofunds to increase staffing levels

Cofunds has now confirmed it has taken its administration in-house, buying the so-called Cisl system...

Cofunds has now confirmed it has taken its administration in-house, buying the so-called Cisl system. The purchase for £3.7m, as first reported on Investment Week's sister site IFAonline last week, will see the group take on a further 200 employees. Until now, the administration of Cofunds' business services has been carried out by M&G staff from its Chelmsford office. Cofunds has now taken over the running of the system and is employing those staff. M&G will continue to administer its own funds business and Cofunds has no plans to provide any third-party administration itself. ...