Carby says the firm has done market research with its 2,500 advisers and has found growing demand for these types of product.
He says: “We have not decided what shape it will take but from daily discussions and regular surveys with advisers, the impression is that this is a logical addition to the offering. We want to make sure there is a big demand for any product we look to bring to market.”
Omnis Investments, which was created from a strategic tie-up between Openwork and Octopus Investments, went live this Monday with the launch of its cautious, balanced and advanced multi-manager portfolios.
The funds will be managed by Lothar Mentel, director of multi-manager funds at Octopus. He will be assisted by fund managers Bish Limbu and Colin Lunnon.
Octopus managing director Guy Miles says: “We are big fans of absolute return and it comprises a main part of our business but any appointment to a fund will come following an independent tender process as it is important to recognise the independence of Omnis from Octopus.”