UK investment management firm Charles Stanley has selected Cofunds as its fund custodian. The firm will initially transfer 1.2 billion of funds across to Cofunds institutional service.
Cofunds will provide specialist fund dealing, settlement and sub-custodian services to Charles Stanley.
Mac Anderson, head of Operations at Charles Stanley: Cofunds has been excelling in this market for over six years. As the biggest player in this space, it has the size, strength and experience to offer a range of services unrivalled in the market. For us, the guaranteed net settlement and complete daily holdings files for reconciliation across our client base, coupled with its AAF accreditation, meant there could be only one choice.
(JDC)