Cofunds abandons trust and ETF plans

Cofunds has abandoned a proposed tie-up with Barclays Stockbrokers to list investment trusts and ETFs on the platform in a blow for providers.

The venture, branded the Cofunds Stock Trading Service, was also due to allow advisers access to trade individual equities and bonds via Barclays Stockbrokers, which would have been accessible through the Cofunds website. However the pilot, launched with ten adviser firms in January 2012, has now concluded, with Cofunds choosing not to proceed with a full service. "We have got to a position where we have decided with Barclays to end the pilot as it didn't do what our clients wanted," said head of marketing Stephen Wynne-Jones. "We are still in the position of evaluating demand and ...