Bravura is understood to be in pole position to win the technology contract to power Cofunds, following months of negotiations, in a switch which would see it replace International Financial Data Services (IFDS).
Investment Week understands Bravura - whose new Sonata system is billed as representing the cutting edge of platform technology - has edged ahead of competitors in the battle to win the Cofunds contract. Cofunds has been in talks with technology providers including Bravura, FNZ and IFDS for months following its takeover last year by Legal & General. That acquisition ended IFDS's 24% ownership of the platform, L&G paying £131m to buy out investors which also included Threadneedle and Jupiter. Bravura's technology is already used by L&G across different parts of the business, though ...
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