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Omnis funds hit £500m milestone

Wednesday 2nd July 2014

Since launch in February 2014, Openwork’s range of multi-asset model portfolios has attracted more than £500m, it was revealed last week. 
The three risk-rated portfolios, which raised almost six times the initial volume required for full investment during their initial four-week offer period, are comprised of a number of sector funds managed on a mandate basis by fund managers including Schroders, Jupiter and Threadneedle. 
These underlying funds, which cover asset classes including UK, US and international equities and global and UK fixed income, are designed to be blended into Cautious, Balanced or Adventurous portfolios. Asset allocation is determined centrally by Openwork’s investment committee.
Philip Martin, Marketing Director at Openwork, said that the firm were delighted to have reached £500m in just four months, with some of the world’s best underlying funds managers. 
“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,” he said.
Nick Winder, Head of Third Party Distribution at Threadneedle, added: “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.”  

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