Openwork’s Woodford fund attracts £100m

Openwork’s Woodford fund attracts £100m

Openwork’s UK equity fund, managed by Neil Woodford, has attracted more than £100m in the six months since its launch.

The fund, a bespoke UK income and growth mandate, became available to Openwork advisers in February through the network’s investment proposition Omnis.

It takes positions in both listed and unquoted companies across the UK and is among a range of sector funds which form the basis of Omnis’s risk-rated multi-asset model portfolios.

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Philip Martin, marketing director at Openwork, said: “The partnership with Woodford Investment Management is extremely valuable to Omnis, and it is fantastic to see our advisers embrace the fund as enthusiastically as they have since its launch in February.

“Omnis is fast becoming a force in the UK retail investment market, and we look forward to growing our relationship with Mr Woodford and his team as we continue to build on the encouraging strides we have made so far.”

Last month, Openwork said its Omnis fund proposition 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.