All Cofunds investments will simply levy a Willis Owen Service fee of 0.50% plus a Cofunds Platform fee of 0.23%. The fees are calculated daily and paid on a monthly basis. We make no other charge for our services but there is a £20 fee for Voting Rights on Corporate Actions levied by Cofunds should you elect to take this option.
Cofunds provide a wide range of services that benefit customers investing in Funds. Their offering complements the services provided to you by Willis Owen.
Historically, both Willis Owen and Cofunds received payments for their services through the Annual Management Charge (AMC) which is levied by the Fund Manager on their Funds. Our regulator, the Financial Conduct Authority (FCA), have introduced changes designed to make the charges associated with investing clearer and easier to understand. On the back of these new rules Cofunds have now implemented a new process which will enable them to take their fees for any Commission-excluded share class Funds held on their platform.
For any Commission-free share class Funds you hold with Cofunds, they will take a Platform fee for their services, which will be taken from your Cofunds Cash Account. This charge is taken once a month and for as long as you hold Commission-free share class Funds.
The table below shows Cofunds charges provided to customers and the enhanced rates that will apply to you as a Willis Owen customer. The reason we have enhanced terms is quite simple, it is down to our negotiating power as one of the UK's largest non-advised brokers.
|Customer Portfolio (£)||Standard Cofunds Rates||Willis Owen's Enhanced
|£100,001 – £250,000||0.26%||0.23%|
|£250,001 – £500,000||0.23%||0.23%|
|£500,001 – £1,000,000||0.20%||0.20%|
The table below gives you a quick idea on how much you could save each year by using Willis Owen for your Cofunds account. These savings all add up and compounded over years can make a big difference to your investments.
|Example||Standard Cofunds Rates||Willis Owen's Enhanced
|Portfolio of £50,000||£145||£115|
Each month Cofunds calculates a blended rate which is a combined average rate based on all of your assets held within your Cofunds portfolio, for which you are the primary holder. This means the more assets you have on the platform, the lower the blended rate could be.
To keep this as straightforward as possible Willis Owen have purposely negotiated the same lower rate for all balances below £500,000, to keep it simple for most investors to calculate their likely costs.
A different rate is applied to each tier (see table above) and these amounts are added up. The blended rate is then calculated by dividing this total amount by the assets held.
For those with a balance of over £500,000 an example below shows how the fees are calculated.
|How blending works: e.g. Portfolio of £750,000||Result|
|Platform charge on first £500,000 = £500,000 x 0.23%||£1,150|
|Platform charge on second £250,000 = £250,000 x 0.20%||£500|
|Blended rate = £1,650 / £750,000 x 100||0.22%|
You may wish to read our paying fees section to understand how fees are collected and the timings involved.
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