Providers faithful to Cofunds despite price hikes
Cofunds has claimed no fund providers have boycotted its services following the fierce pricing debat...
Cofunds has claimed no fund providers have boycotted its services following the fierce pricing debates of recent months. Rick Andrews, marketing director, said the 16 December deadline had been reached with no providers indicating they could not agree to the new pricing terms. These terms, however, represent a U-turn from original intentions to increase charges. After a backlash, a revised pricing structure meant groups were able to choose between three options, one of which was similar to the original agreement where providers paid 0.25% of fund sales to the platform. Meanwhile, Andrews said the platform is still on track to break even in 2006. The group said it needed £6bn assets under management to break even, and currently has £3.4bn.
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