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Cofunds drops £40 annual fixed platform charge
by Jun Merrett on Oct 07, 2013 at 14:22
Cofunds has dropped its annual £40 fixed platform charge.
Cofunds said the change was made as part of a review of its proposition and was able to drop the fee as it is now owned by Legal & General so has a bigger scale.
The platform's monthly investment-based platform charge will remain unchanged and will continue to be taken at the same rate.
Adam Smith, Cofunds commercial director, said: 'This is the first of many developments that will benefit our clients and their end investors.
'Having the might of Legal & General behind us, we’re able to play our part in helping to reduce the cost of investing in a sustainable way that reflects real value.'
Cofunds launched the explicit pricing model in September 2012 and currently has £5 billion in assets under management with inflows of around £400 million per month.
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