View more on these topics

Openwork names replacement for Woodford

Neil Woodford

Openwork’s in-house asset manager Omnis has named Jupiter Asset Management as the new manager of its £317m Omnis Income & Growth Fund.

The decision comes after it had removed Woodford Investment Management from the mandate at the beginning of month.

The advice network said that Jupiter, which already manages Omnis’s Emerging Markets and European Equity funds, was appointed “after a competitive selection process”.

Openwork added that the decision to remove Woodford from the mandate was made in May to “focus on delivering the best outcomes for clients and the advisers that serve them”.

Its announcement of the decision followed similar move by St James’ Place on its segregated mandate with Woodford, and Hargreaves Lansdown, which shuffled Woodford out of its Wealth 50 list.

The Omnis Income & Growth Fund will be managed by Ben Whitmore, who joined Jupiter in 2006, and is currently head of strategy for value equities.

Meet the manager: Jupiter’s Chatfeild-Roberts on youthful enthusiasm versus experience

Openwork wealth and platform director Mike Morrow said: “We have the utmost confidence in the Omnis Income & Growth Fund value-driven mandate and in Jupiter’s ability to manage the portfolio in the best interests of clients and advisers.”

Recommended

Leading asset managers target transparency failures over environmental impacts

A group of 88 investors with almost $10trn (£7.95trn) in assets are targeting companies over their environmental impact transparency. The investors include HSBC Global asset Management, Investec Asset Management and Candriam and is part of CDP’s 2019 non-disclosure campaign. CDP is an international non-profit which aims to drive companies and governments to reduce greenhouse gas […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com