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Absolute return is next target for Omnis

Openwork chief executive Keith Carby says an absolute return offering is likely to be the next port of call for new investment firm Omnis.

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.”

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