Cofunds cash - where is it held?

poodlediva

I have a lareg PEP / ISA account with cofunds. A few months ago I got the jitters about the stock market and asked for the funds to be moved to a cash reserve account for the time being. Very glad I did now! However, I am very concerned to know where this substantial sum of cash is being stored. It is way more than the 50k covered by the government, so I'd like to be confident it is in one of the safer banks. Hargreaves Lansdown, who manage the fund, didn't know....does anybody out there have any idea. I can't get through to co-funds.

NumbersGuy_2

This is a response from co-funds to the Treasury related to the issue but it doesn't mention the bank they use:

http://216.239.59.104/search?q=cache:pxyKwaGBK1AJ:www.hm-treasury.gov.uk/media/0/5/Cofunds_Ltd.pdf+co+funds+fscs&hl=en&ct=clnk&cd=1&gl=uk

benjdr

Might be a long shot, but...L&G?
http://www.google.co.uk/search?hl=en&sa=X&oi=spell&resnum=0&ct=result&cd=1&q=cofunds+legal+and+general&spell=1

poodlediva

Wow - thanks guys. That's helpful. Sounds like we'd be in big trouble if whichever secret bank they've chosen went belly up.... seems there's no protection in place right now but they are seeking it.