Fund Platform Expands Wealth Management Options

Stephen Harris

24 September 2007

Isle of Man-based Canada Life International, which has over £5.1 billion ($10.3 billion) of funds under administration, is to launch its first offshore bond portfolio account on the Cofunds platform in November. CLI is also offering its range of offshore trusts to IFAs who use Cofunds. "Offshore bonds are becoming increasingly popular with a wider range of investors; the inclusion of our Portfolio Account on Cofunds will ensure our wealth management solutions are available via an extremely well supported platform provider," said CLI managing director Tony Parry. In launching the CLI Portfolio Account, Cofunds has followed FundsNetwork, which offered a Standard Life International offshore bond earlier this year. Anthony Wolfe, strategic development director of Cofunds, said: "Cofund’s focus is solely on servicing the intermediary market. Some of our key intermediary customers have a long-standing commitment to CLI. We have responded to our customers request to provide this link so they can both continue to use CLI while also taking account of other investments on the Cofunds platform." Cofunds, the UK-based intermediary-only fund supermarket, has around 1,000 funds on its platform.