Openwork, the 2500-strong adviser network, has launched its first range of multi-manger funds through its Omnis Investments joint venture.
The result of a strategic link-up between Openwork and alternative asset manager Octopus Investments, Omnis has launched with three risk-based retail funds featuring broad asset class access.
Omnis says it will differ from traditional multi-manager offerings by capping costs below the market average.
Created by Octopus Investments, the three IFDS Omnis funds – Cautious, Balanced and Advanced – will invest in active or passive managed global portfolios, as well as individual stocks and bonds.
The Cautious, Balanced and Advanced funds aim to achieve capital growth of 2.5%, 3.5% and 4.5% respectively, above medium to long term cash rates.
Octopus multi-manager director Lothar Mentel will oversee the IFDS Omnis range.
Openwork chief executive Keith Carby says Octopus has a strong track record of impressive investor returns.
“With this new cost-capped approach we are driving real value for retail investors,” he says.
“We are delighted to be offering the new range of IFDS Omnis Funds to our advisers and their clients as they will provide access to a clearly differentiated and best-in-class multi-manager offering.”IFAonline
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