The fund will be run similarly to a cautious managed fund and will look to generate between 4 and 5 per cent per annum. The underlying portfolio will cover areas such as gilts, corporate bonds, convertible bonds, private equity, infrastructure and commercial property funds.
Omnis is a joint venture between both Openwork and Octopus Investments Limited. The launch comes as three-strong existing range has passed the £100m mark.
Openwork chief executive Keith Carby says: “The IFDS Omnis distribution fund has been created specifically to ensure our advisers and their clients have access to a product capable of delivering a genuine income stream and underlying capital growth but without undue investment risk. We firmly believe that the fund fulfils a clear investor requirement given the ongoing market volatility and negligible returns on cash.
“Since launch, the existing IFDS Omnis funds have delivered an impressive performance and we look forward to Octopus Investments, Managers of the IFDS Omnis range, building on this success by continuing to generate healthy rates of return for investors within the controlled risk/reward context for each fund.”