Platform growth figures: Cofunds stretches lead with £45bn AUA

Cofunds has increased its assets under administration by 35 per cent to £45bn from £33bn in the 12 months to 30 September, according to The Platforum.

Figures from The Platforum’s quarterly platform guide show Cofunds as the leader in terms of absolute growth and total AUA.

Total platform assets now sit at £205bn, compared to £191bn at the end of Q2, an increase of 7 per cent.

Cofunds lead the AUA table followed by Skandia, which has £40.6bn, an increase of 10 per cent over the year from £37bn. FundsNetwork lies third with £38.3bn which represents a rise of 17 per cent from £32.9bn.

Standard Life and Sippcentre make up the top five with £13.8bn and £13.7bn assets respectively. Standard increased assets by £3.2bn over the year and Sippcentre saw a rise of £3.3bn.

The top five remain unchanged in position from the Q2 guide.

The Platforum managing director Holly Mackay says: “It remains extremely difficult to compare like-with-like. Some platforms report all assets including execution-only business supported, bancassurance business, institutional business, legacy assets and Sipp books to name just a few.”

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Platforum Table Q3