Cofunds demands access to fund groups' best super clean deals

Cofunds has written to fund groups demanding contractual rights to the best share class deals in the market - as and when they become available.

The platform has written to fund groups proposing a variation to contracts which would enable it to get access to super clean share classes if they are launched for other platforms. Stephen Wynne-Jones, head of marketing at Cofunds, acknowledged some groups' preferentially priced share classes would merely be a mirror of terms already secured under the old rebate model. However, he said if fund groups launch lower-cost share classes for other platforms with terms better than Cofunds' own arrangements, the platform would then expect to be offered the cheaper deals itself. "If someon...