Openwork’s fund proposition Omnis attracted £165m of inflows during the second quarter of 2016, putting it among the top 10 biggest net retail sellers in the UK.
According to the Pridham Report for that quarter, that figure would make Omnis the seventh biggest net seller of retail funds in the UK ahead of Investec, Woodford Investment Management and Aviva Investors.
Mark Duckworth, chief executive of Openwork, said it was “pleasing” to see Omnis delivering strong performance for customers during a turbulent time in the market.
“Achieving both large inflows and strong performance is placing Omnis amongst the market leaders in retail asset management and strengthens the appeal of our core investment offering,” he commented.
It offers a range of risk-rated multi-asset strategies, underpinned by sector funds managed by groups including Woodford Investment Management, Schroders and Threadneedle.
Earlier this month Openwork announced that assets on its platform reached £4bn for the first time.
Meanwhile in July, the directly authorised, multi-panel distribution network exceeded 3,000 advisers across the group for the first time in its history.
In June, Openwork announced an operating profit of £4.8m for 2015, the fourth consecutive year it has found itself in the black.
