The market standard
in fund servicing
Institutional
Service
Your number one partner
for automated fund
trading and settlement
Dealing
Settlement
Reconciliation
Distribution
Reporting
Partner with a proven platform
Cofunds is the UK’s leading investment platform. With over a decade of experience, Cofunds is responsible for administering fund holdings with a total value of more than £60 billion (as of November 2013).
Cofunds’ institutional service uses its proven technology and industry position to engineer a service specifically to support fund trading. We streamline, accelerate and risk-proof the whole fund trading cycle for a client base that includes wealth managers, pension funds, life companies, platforms, discretionary portfolio managers and private banks.
From dealing to settlement, reporting, reconciliation, custody and distribution management, Cofunds can help you to transform your whole administrative process.
Market-leading features
As the fund universe becomes more complex, our institutional trading service sets the industry standard, including:
Intra-day pricing – receive dealing prices
for your fund trades as soon as they become available after the valuation point.
Guaranteed contractual net settlement –
receive or pay just one payment a day, with every trade settled on the value date.
Straight through processing – a fully
automated service that reduces the risk of errors and makes your processes more streamlined and efficient. Conduct every stage of the dealing process electronically. Fund manager documentation is eradicated. Error rates and operational risks are minimised. All of this is available using your existing back office systems and processes enabling cost-effective migration. Integration with Cofunds is simple and fully tailored around your specific business requirements.
Experience a
new standard
in fund trading
Trade funds your way, every day
Dealing
Our platform enables you to place trades quickly and easily via a fully automated straight through processing (STP) solution. You can trade in more than 6,500 funds and a further 1,200 offshore GBP funds.
Every trade is confirmed by us in less than one second and the valuation point is guaranteed.
Settlement
Trades are priced and settled using automated market leading settlement systems. We also offer net settlement, so no matter how extensive your daily trades, you receive or pay just one payment per day. The net settlement cash amount can be settled by CREST, CHAPS or SWIFT – it’s your choice.
What’s more you don’t have to wait for us to receive funds from the fund manager before we settle your redemption trades. Our platform contract with each fund group means every trade is settled on the value date.
Pricing
With Cofunds STP technology, you can report trades faster and more easily than ever, supported by both intra-day and overnight data files.
Dealing prices and the confirmed
consideration are made available as soon as they’re available from the fund manager - as quickly as one hour after the valuation point. By harnessing this powerful resource, Cofunds’ clients can offer servicing standards well ahead of many of their peers.
Reconciliation
One of the most time-consuming post-trade activities for the back office is reconciliation; matching fund holdings against fund manager records.
Cofunds will transform your operational efficiency by providing daily automated
reconciliation reports in a format of your choice across all funds held within our service.
No matter how complex or high volume your daily
fund trading activities, Cofunds keeps the process
efficient, simple and 100% reliable.
Our open architecture systems make it easy for you to input your trades.
To give you peace of mind Cofunds confirm receipt of the trade instruction in less than one second. This not only guarantees the valuation point but also helps you manage and predict your cash flow.
All trades are aggregated by Cofunds and placed electronically with the fund managers.
The trade is priced and settled using market leading settlement infrastructure.
Once the trade has been priced and settled, we make electronic intra-day and overnight data files available for download providing details on all aspects of asset servicing.
Trades are settled daily, on value date, on a net and contractual basis. Net settlement means you receive or pay just one payment in or one payment out per day; saving you time on cash management and money on multiple transaction charges. Contractual means Cofunds do not have to wait to receive funds before we settle your trades; all our instruments are underpinned by a ‘platform’ contract with each of the fund groups.
1 6 2 3 4 5
Net
settlement
report
Trade
confirmed
Contractual
net
settlement
You instruct
trade
You
5
1
3
2
4
6
Cofunds
Aggregated
trade
placed
Trade
priced and
settled
Fund
managers
Cofunds’ institutional
service has grown rapidly
over the past few years
as it’s gained significant
traction in the market.
During this time we’ve
expanded our offering
to include new tools and
services to help you and
your teams with your day
to day tasks.
Our aim has always been to enable
you to reduce your risk while
increasing your efficiency.
By transferring your dealing and settlement risk to us, you can focus on your core disciplines without administrative distraction. With simple ideas like guaranteed contractual settlement, gross distributions, reconciling your positions on a daily basis and identifying and clearing discrepancies intra-day – we help you and your teams to be more efficient. We’ve shaped the service we offer based on your feedback. Understanding the obstacles, irritations and headaches your teams have to overcome, shapes the development of our service. So let us know the problems you face so that we can set about finding the solutions.
Our Multi-Currency Service
With growing demands for easy access to Dublin and Luxembourg funds, Cofunds is expanding its service to include more and more European domiciled funds for its clients. With our Multi-Currency Service: • You can trade your non-Sterling
mutual funds business via Cofunds • Cofunds manage all aspects of the
market side counterparty relationship • You can keep your existing account
structure, if you’re already a Cofunds Institutional client • The trades can be settled
in the fund currency or the equivalent Sterling amount • Of course there is contractual net
settlement for all currencies
• And you benefit from electronic reporting to help with your reconciliations.
Reduce risk
• Fully automated dealing solution • Contractual fund settlement
removes the settlement risk
• STP minimises errors at every stage of trading, settlement and reconciliation
Increase efficiency
• Electronic trading and automatic record updating reduces the burden on your back-office • Elimination of fund manager
documentation simplifies administration • Consolidated monthly trail
commission payments simplify and regulate your cash flows
Stay in control
• Use your preferred cash settlement network – CREST, CHAPS or SWIFT • Maintain comprehensive online data on
your organisation’s fund trading activities • Focus on just one electronic
reconciliation in one location
Add value for your clients
• Clients can receive either net or gross income distributions on the fund manager pay date • Intra-day fund pricing enables
timely production of client confirmations and reports • Trading available for over 7,700
fund instruments across a range of currencies and share classes
Opportunity with fewer
constraints
In short, by harnessing Cofunds’ technology and expertise, you’ll find that operational constraints on your business are dramatically reduced. You’ll be able to resource your back office administration teams far more efficiently. Fund business can be easily scaled up without a significant increase in costs. By replacing manual processing with our fully automated solution you will reduce the risk of costly errors. Most important of all, you’ll have more time and resources for the client-focused activities that add the greatest long-term value to your business.
Harness the benefits for your business
Cofunds’ institutional service provides powerful benefits for any firm that
relies on efficient fund trading to service its clients and grow its business.
Moving to Cofunds
Partnering with Cofunds is simple. We look to provide a solution that will interface with your existing back office systems and processes, with no interruption to your day to day activities.
Solutions built around you
Cofunds supports all market-leading non-proprietary messaging services, giving you flexibility and choice: • SWIFT
• XML • FIX
• ISO 15022/ 20022
Alternatively, you can connect with Cofunds through our web dealing system. We’ll also work with you and your chosen technology partner to create a bespoke solution should this be required. We’ve already developed interfaces with leading system providers to allow our service to be deployed with minimal lead time. Our team is ready to discuss
your system requirements.
Transfer of assets
We’ve developed deep expertise in transferring assets efficiently onto the Cofunds platform. Working closely with you, we can develop a timetable to automate asset transfer without any interruption to your fund trading. We provide full technical and project support so you can integrate Cofunds services into your business with minimal demand on your people and resources.
Dedicated relationship team at
your service
At Cofunds, you have the reassurance of a dedicated relationship team with a named relationship manager. They co-ordinate your migration to Cofunds and provide ongoing support to ensure Cofunds continues to meet and exceed your needs.
We support you with:
• Daily contact throughout the asset transfer process • Regular account meetings • Monthly reporting against Key
Performance Indicators.
This is not a consumer advertisement. It is intended for Professional Financial Advisers and should not be relied upon by private investors or any other persons.
Issued and approved by Cofunds Limited One Coleman Street, London, EC2R 5AA
Registered in England and Wales under No, 3965289.
Authorised and regulated by the Financial Conduct Authority (FCA).
FCA registration No. 194734 IG05 04/14
