Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Cofunds to offer Woodford, but not at preferential rate

Cofunds to offer Woodford, but not at preferential rate

Funds supermarket Cofunds will offer Neil Woodford's new fund from its launch but has been unable to get the preferential charging structure.

The platform will offer the CF Woodford Equity Income fund with a 0.75% AMC from 2 June.    

Woodford Investment Management unveiled the fund’s fees last week and the Cofunds arrangement is 10 basis points higher than Z share class available on certain platforms. There are four share classes in total on the fund.

Cofunds said it had not secured the cheaper share class as this was only available to platforms which could ‘guarantee distribution’.

The platform said: ‘Cofunds is not presently offering the Z class as we are open architecture and Z class is currently only available to those offering guaranteed distribution. We allow advisers to choose what funds they want and cannot dictate which funds people choose.’

Woodford Investment Management has not announced which platforms will receive the Z share class and said that negotiations were ongoing.

Cofunds chief executive David Hobbs (pictured) said it was of ‘paramount importance’ to have Woodford on the platform. ‘Woodford is one of the UK’s best known fund managers and advisers have been eagerly awaiting news about the fund and his vision for the company,’ he said.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

Eleanor Mahmoud goes clay shooting at the National Clay Shooting Centre with Sam Lansdowne from Thesis Asset Management

Play AA-rated Flood on gov't bonds: 'the maths doesn't add up'

AA-rated Flood on gov't bonds: 'the maths doesn't add up'

He also addresses why his Newton Multi-Asset Income fund has such a high cash weighting and why he sees renewables as such a good opportunity.

Play AAA-rated Ali: Identifying the peripheral European plays

AAA-rated Ali: Identifying the peripheral European plays

Citywire AAA-rated Tawhid Ali thinks that plenty of good stocks in the European periphery are being thrown out with the proverbial bath water.

Read More
Your Business: Cover Star Club

Profile: 'for the first time since 1981, I have to watch politics'

Profile: 'for the first time since 1981, I have to watch politics'

James Hambro & Partners’ William Francklin says he is having to factor politics into his thinking for the first time in his 36-year career

Wealth Manager on Twitter