Multi-tied adviser firm Openwork and product provider Octopus Investments are this year set to join forces to launch a raft of multi-manager funds.
The firms say the strategic tie-up will see the creation of a new investment management company called Omnis Investments.
In addition, both companies say they hope the arrangement will lead to further product launches, including in the structured products, mortgages and annuities arenas, in the future.
The first products to be launched through Omnis, they say, will be three multi-asset, multi-manager funds, branded Omnis Advanced, Balanced and Cautious, subject to FSA approval.
Lothar Mentel, currently director of multi-manager funds at Octopus and previously head of investment products at NM Rothschild & Sons Private Management, will manage the fund and oversee the development of Octopus’s multi-manager offering.
The firms say the funds, which will be developed with the help of Mercer, have been designed to meet the “risk/reward requirements of individual clients”.
They says each product will have exposure to a broad range of asset classes through investment in collective investment schemes, such as unit trusts, OEIC funds and closed-ended schemes, as well as individual stocks and bonds.
Keith Carby, chief executive at Openwork, Zurich's multi-tied distribution arm, says: “This partnership will enable Openwork and our advisers to maintain a market-leading edge through the delivery of extremely high calibre investment solutions that have been specifically tailored to meet the requirements of our clients.”
Simon Rogerson, Octopus chief executive, adds: “By combining Octopus’s reputation for strong product innovation with the breadth of Openwork’s distribution network, this partnership will create a new breed of distribution company by providing Openwork’s advisers and their clients with access to superior investment services.”
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