Openwork in-house fund range reaches £5bn

What's killing UK productivityOpenwork’s fund range Omnis Investments now has £5bn in funds under management.

Omnis, which is only available to Openwork Advisers, is currently managed by companies including Baillie Gifford, Jupiter, Schroders and Woodford Investment Management. It includes 10 single strategy funds.

Openwork marketing director Philip Martin says: “Reaching this milestone is testament to the power of the relationship between Openwork advisers and Omnis, and we are thankful for their ongoing support.”

Alongside Omnis Investments, Openwork has a model portfolio range and there is an Omnis discretionary management service.

Earlier this week True Potential reported that its discretionary portfolios attracted £2bn in the past year, with inflows up 200 per cent. The 10-strong suite of funds is currently seeing daily inflows of £10m, with the range now holding £3bn in assets under management.

Model portfolios have recently come under the microscope of the regulator.  In the FCA’s asset management interim study, published in November, the regulator highlighted three risk areas among model portfolios: comparability, choice of asset managers and value for money.