Supermarkets beat peers

fundsnetwork and cofunds pull away from rivals in terms of sales

FundsNetwork and Cofunds pulled further away from their supermarket rivals in the second quarter of 2004, attracting around a third of total sales each. According to figures in the August Pridham Report, the former was slightly ahead over the period, offering a £25 reward per investor during the summer to encourage retail investors to re-register holdings. FundsNetwork saw £432m of sales in the second quarter, followed by £409m from Cofunds, around £210m each from Hargreaves Lansdown Vantage and Skandia and £100m from Selestia. Despite the FundsNetwork campaign, the proportion of its s...