Omnis funds reach £500m milestone

Openwork’s range of multi-asset model portfolios has grown in size to more than £500m since launch in February 2014.

The range comprises of three risk-rated portfolios raised almost six times the initial volume required for fill investment during their initial four-week offer period.

They are made of a number of sector funds managed on a mandate basis by fund managers including Threadneedle, Schroders and Jupiter.

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The underlying funds are designed to be blended into cautious, balanced or adventurous portfolios and cover asset classes including UK, US and international equities and global and UK fixed income.

Philip Martin, marketing director at Openwork, said: “Reaching £500m in four months is a very pleasing result and testament to the quality of the range and its underlying fund managers, who are some of the world’s best in their respective asset classes.

“What makes the proposition particularly attractive is the fact we have been able to secure these solutions at a price advisers would not be able to access anywhere else in the market.

“That is the power of a business with our size, scale and structure and we look forward to growing and developing our fund proposition over the coming months and years.”

Nick Winder, head of third party distribution at Threadneedle, said:“Openwork is a network that invests a significant amount of money in fund solutions and we have been delighted with the volume of business we have received from its advisers since the proposition went live earlier this year.

“Our investment management expertise and Openwork’s distribution capability makes a powerful combination and we are delighted to be part of the Omnis funds proposition.”