Openwork to add income proposition to Omnis multi-asset range

Openwork has announced plans to expand its Omnis Graphene multi-asset fund range, adding an income solution alongside its existing Cautious, Balanced and Adventurous risk-rated model portfolios.

The existing range of funds, which comprise of seven sector funds managed on a mandate basis by fund managers including Jupiter, Schroder and Threadneedle, launched 10 months ago and have already attracted £1bn of assets.

The new income fund, which is expected to launch next year, will invest in a broad range of asset classes designed to generate a sustainable level of income and an inflation-proofed capital return over time.

Marketing director at Openwork Philip Martin says as the funds approach their first anniversary and in light of pension liberalisation, it would make sense to focus on widening its income proposition.

“It is something for which we see a real demand but, in line with the existing funds, it will not be an off-the-shelf product, “ he says. “This will be a modern income solution that properly caters for the needs of our advisers and their clients.”