Cofunds, the UK-based investment platform, has been appointed by online trading and European wealth management specialist Saxo Bank to drive expansion of the Danish bank's UK fund proposition to private investors.

The proposition is part of the recently launched Modern Wealth Management platform for mid-long term self-directed retail investors. Cofunds has been appointed to provide the funds engine for the bank’s online UK domiciled funds offering, Cofunds said in a recent statement.

“Through Cofunds, Saxo Bank will be able to access UK funds with only one point of contact, adding significant value to future clients,” Christopher |James, director of institutional services at Cofunds, said.

A few days ago Cofunds said it gained £3.5 billion ($5. 6 billion) in assets under administration in the opening quarter of the year.