We will be launching a Discretionary Fund Management service in April to help continue to build on the success of our £4.2bn investment proposition Omnis.
The discretionary service, which will be exclusively available to Openwork advisers and their clients, will leverage Omnis’ existing 10-strong range of specialist sector funds, which includes bespoke strategies run by leading groups including Woodford Investment Management, Schroders and Threadneedle.
The new service is designed to offer a cost-effective tailored solution for clients seeking to outsource tactical asset allocation decisions to a specialist professional investment team. It will complement the existing Omnis ‘Graphene’ fund proposition, launched in 2013, which offers three risk-rated model portfolios – Cautious, Balanced and Adventurous – built using different long-term blends of the sector funds.
As part of the launch, Toni Meadows will join the us as Head of Investment, to lead a team that will manage portfolios in line with customer attitudes to risk. Meadows joins from Tilney Bestinvest, which last year acquired Towry where he was Head of Investment Services and his teams provided research and portfolio construction to drive customer portfolios. He has also had spells with both Close and Ashcourt Rowan.
Our CEO, Mark Duckworth says: “Openwork continues to develop its products and services to meet the needs of our advisers and their clients and the discretionary service is designed to appeal to those who desire one-stop access to some of the world’s best fund managers, but with the tactical asset allocation decisions outsourced to a dedicated investment team. Our size, scale and buying power mean we can offer these services very cost-effectively to our customers. We are extremely pleased to have attracted someone of Toni’s calibre to lead this proposition.”
Toni Meadows, says: “I am delighted to be joining Openwork at such an exciting time for the business. Many advisers will find a discretionary service appealing at a time when political risk and an uncertain economic backdrop are increasing volatility and making short-term asset allocation decisions very challenging.”