Cofunds hits £50bn milestone

Cofunds has become the UK's first platform to pass £50bn of assets under administration (AUA).

The platform, whose AUA stood at £48bn at the end of 2012, surpassed the £50bn mark at the end of January, according to data from Fundscape. It also topped the list for asset growth, gross and net sales for the year. Assets rose £3bn in Q4 from £45bn to £48bn, a rise of 6% and "a big jump for a big platform", said Fundscape managing director Bella Caridade-Ferreira. "I would expect that pace of growth to keep going," she said. "Cofunds have a lot of unwrapped business in their numbers, and a lot of self-invested personal pension providers that use their Funds Inside service. Pension b...