In January 2017, Cofunds were acquired by Aegon, one of the world's leading providers of life insurance, pensions and asset management. By combining the scale and experience of Cofunds with the innovation, financial strength and product knowledge of Aegon, their aim is to provide even better support for all customers.
Cofunds History prior to their purchase by Aegon
Launched in January 2001 with the backing of four of the UK's leading fund managers: Gartmore, Jupiter, M&G and Threadneedle
IFDS, the UK's leading fund administrator, became a shareholder in 2003
In 2005, assets exceeded £5 billion for the first time and Legal & General became the sixth shareholder
In 2008, the Cash Account service was launched and the group received a number of industry awards
In 2013, assets exceeded £50 billion for the first time and Legal & General became the sole shareholder
In 2016 Legal & general sold Cofunds to Aegon. Cofunds received the Trading Platform of the Year award at the Goodacre Systems In The City Awards
What Aegon provide
- Market leading technology - the ARC platform drives the service that Aegon provide to their customers. The in-house development team continually enhance and refine the customer experience.
- Long-term stability - Aegon is an international pensions, life insurance and asset management business serving 26 million customers in over 20 countries
- Trust - they are responsible for EUR 817 billion in assets on behalf of savers and investors worldwide. In the UK, Aegon offer retirement, work place savings and protection solutions to around 2 million customers, and employ more than 3,400 staff
- Choice - clients have access to over 200 fund groups and over 3,200 funds
- Safe Custody - client assets are held in nominee accounts by Aegon Nominees Limited and not directly by Aegon
Aegon charge a Platform fee of 0.23% per annum (for assets up to £499,999) for clients that invest via Charles Stanley Investment Choices. This reduces to 0.20% for assets between £500,000 and £1 million and to 0.15% for assets over this amount. This is deducted monthly and based on the value of the assets held by the client. Responsibility lies with the client to ensure that a sufficient cleared balance is available to pay for the charges. If not, Aegon will sell enough units to cover the charge from the largest fund holding that a client has.