Openwork joins top retail fund sellers in Q2

By Openwork -

Our fund proposition Omnis attracted more than £160m in the second quarter of 2016, placing it among the biggest net retail sellers in the UK despite widespread industry outflows and Brexit volatility.

Omnis, which offers a range of risk-rated multi-asset strategies underpinned by sector funds managed by groups including Woodford Investment Management, Schroders, and Threadneedle, saw inflows reach £165m during the quarter, which included June’s EU Referendum. That performance would place Omnis firmly in the top 10 net retail sellers in the UK, according to industry survey figures.

The industry more broadly has seen net redemptions for two consecutive quarters, the first time this has happened in 30 years.

Commenting, Mark Duckworth says "Assets into Omnis continue to grow and it is pleasing to see our core proposition delivering such strong performance for customers during an incredibly turbulent time in the market.

Seeing inflows reach £165m is a huge achievement which – bearing in mind this is also likely to be true for some other integrated businesses of our type – nominally puts us in the top 10 table for net retail sales. Achieving both large inflows and strong performance is placing Omnis amongst the market leaders in retail asset management and strengthens the appeal of our core investment offering."

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