Cofunds' unbundled model goes live

Cofunds' ‘explicit pricing model' has gone live today, with 1,700 clean share classes from 85 fund groups.

The new charging structure operates a tiered percentage fee, with no upfront fund switching charges, and an annual platform charge of £40. Charges begin at 29bps for client with less than £100,000; 26bps for the next £100,001-£250,000; 23bps for £250,001-£500,000; 20bps for £500,001-£1m; and 15bps for assets of more than £1m. CEO Martin Davis said the platform planned to add another 300 funds by the end of the year. "Twelve months ago we pinned our colours to the mast and pledged to bring our new pricing model to market in Q3 2012," he said. "True to our word, our tiered model t...