Cofunds to hit 3,000 clean share classes by July

Financial services platform Cofunds is planning to hit 3,000 clean share classes on the platform by July.

The platform currently offers over 2,700 clean share classes. Cofunds said that advisers and their clients will be the real winners from the shot in the arm that the recent platform policy statement (PS 13/1) will give to the wider industry move to clean.

The platform has been expanding the number of fund groups, with 10 new groups live since the start of the year, two more live on 1 May, and another six in the pipeline to launch in the coming months.

Michelle Woodburn (pictured), head of fund manager relations at Cofunds said: “Our target of reaching 3,000 by July is right on track. It comes at a time when others are barely out of the starting blocks on adopting clean share classes – and this despite all signs pointing to the regulator moving the market in a ‘clean’ direction. Even if HMRC’s move to tax rebates at source wasn’t impetus enough for others finally to embrace clean, there’s no ignoring PS13/1.”

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