Cofunds net sales increase 30% in Q1

Investment platform Cofunds has seen net sales increase by 30 per cent in the first three months of this year to £1.45bn, compared to the same period in 2013.

Total assets under administration rise to £65.6bn in Q1 2014.

Cofunds claims it has also seen transfers in from other platforms increase by 28 per cent compared to the same quarter last year, and had its “best Isa season in three years” with strong positive inflows from both advisers and execution-only brokers.

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David Hobbs, chief executive of Cofunds, said: “In March of this year, we announced another strong set of financial results for 2013 and are encouraged to see our sales growth continue into the first quarter of 2014 with positive net flows across all channels - advisory and self-directed, institutional and bancassurance.

“We don’t take the support of our clients for granted. As the largest platform provider, we believe our clients’ growth can be seen as a barometer for the rest of the industry, where investor confidence is steadily returning as the economy continues to recover”.