It says that Cofunds hold my investments in a nominee account, what is a nominee account?
It is an account in which the named holder (Cofunds) holds the assets on behalf of another, (you, the beneficiary). The advantage of nominee accounts is that they make buying and selling (settlement) quicker and more streamlined. In theory, dealing costs should also be lower. There are also some disadvantages in that the individual is not the registered owner of the shares and so will not receive company reports and accounts, and cannot take advantage of shareholder perks.
Cofunds hold your funds in a nominee account so that they can invest in funds in bulk for a number of clients. They operate a segregated nominee account, which means that in the unlikely event that Cofunds defaulted; your investments would be re-registered back into your name with the underlying fund manager.
Other pages in this section that might interest you:
- Our Website FAQs
- Our Services FAQs
- Chartwell Direct FAQs
- The Investor Centre FAQs
- What can I do using the Investor Centre service?
- Who are Cofunds and why is Chartwell working with them?
- What is re-registration?
- It says that Cofunds hold my investments in a nominee account, what is a nominee account?
- Will I receive cashback on my investments?
- How is my cashback paid?
- Why does my bank statement say I've received Trail Rebate?
- What is the benefit of transferring to the Investor Centre service?
- What funds can I transfer to the Investor Centre service?
- How long will it take for my transfer to complete?
- I already invest with Cofunds through Chartwell, what do I need to do?
- What does it cost to transfer to the Investor Centre?
- What happens to my income if I transfer to the Investor Centre?
- What is equalisation?
- What happens to my regular savings once I transfer to the Investor Centre?
- Can I get income from my funds once I've transferred?
- When will I receive income from my investments?
- What is CNI?
- Can I transfer Cash ISAs to Cofunds?
- Not all of my investments are on my online valuation, why is this?
- What happens if I change my mind?
- Online Dealing FAQs
- Investment FAQs
- Getting in Touch FAQs
- Glossary
