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.

Threadneedle builds stake in Cofunds after buying from Jupiter

Threadneedle builds stake in Cofunds after buying from Jupiter

Threadneedle has increased its stake in platform Cofunds after buying more than 3% of the company from co-owner Jupiter Asset Management.

Threadneedle completed a deal earlier this year according to sources, building a 20% stake, while Jupiter's share in the platform has fallen from 13% to 10%, according to documents filed with Companies House.

Jupiter said yesterday in its interim results that it made a £1 million one-off gain from selling part of its stake in Cofunds, although it declined to comment on who had acquired the stake.

Cofunds, headed by chief executive Charlie Eppinger (pictured), said it was unable to comment on shareholder transactions.

Gartmore, Jupiter, M&G and Threadneedle backed Cofunds when it launched in 2001 before funds administrator IFDS and Legal & General bought stakes in 2003 and 2005 respectively.

Other shareholders include US venture capitalist Newhouse Capital Partners, which owns 18%, as well as IFDS which owns 24%. Prudential holds 3% while the largest shareholder, Legal & General, owns 25%.

Threadneedle declined to comment.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: what's behind the second oil crash?

Brewin's Gutteridge: what's behind the second oil crash?

This week Brewin Dolphin's research head talks to Will Riley, co-manager of the Guinness Global Energy fund, about what next for oil.  

Play AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Richard Bullas has quietly been making a name for himself at the helm of the Franklin UK Smaller Companies fund.

Play Sector spotlight: how Harwood's Philbin is playing emerging markets

Sector spotlight: how Harwood's Philbin is playing emerging markets

Emerging markets have been a rollercoaster for investors, but amid the doom there have been have been bright spots, such as India. 

Your Business: Cover Star Club

Profile: CHI's bond supremo on liquidity and bond risk management

Profile: CHI's bond supremo on liquidity and bond risk management

'Some people have been extremely complacent about rate rise risk. Myself, I wish they would just get on with it.'

Wealth Manager on Twitter