FundsNetwork to conduct major service review

The review is not a result of current market conditions but has been prompted by the fact more and more business is being placed through platforms and FundsNetwork's arrangements have not been reviewed for ten years. Its move comes as costs have risen for platforms which have to bear the administrative burden of increasing fund mergers, closures and manager changes. However, the extra charges will put further pressure on fund providers struggling with a massive slump in new business, leading to concerns investors may also be affected further down the line. Cofunds already has agreements...