Restricted network Openwork has confirmed the first three fund managers behind its investment proposition Omnis.
In December, Money Marketing revealed Openwork is mandating Omnis for the majority of its investment advisers from the second quarter of 2013.
Omnis, a joint venture between Openwork and Octopus Investments, will launch with three model portfolios, cautious, balanced and adventurous.
The first three funds include the Omnis UK equities fund, which will be managed by Schroders UK equity fund manager Errol Francis and the Omnis US Equities fund, managed by The Boston Company senior managing director of large cap growth Elizabeth Slover.
The Omnis Emerging Markets Equity fund will be managed by Jupiter global emerging markets fund manager Kathryn Langridge.
The UK and US equity funds will be priced at 0.65 per cent.
Openwork has not disclosed the price of the emerging markets fund, but says clients will have access to all funds at between 10 and 15 basis points cheaper than market prices.
Openwork says it plans to add global and UK fixed interest funds, alternative strategy funds and a range of passive funds to the investment proposition.
Proposition and marketing director Philip Martin says: “The Omnis proposition has been built on Openwork’s ability to use its scale to deliver appropriate solutions at cheaper cost than equivalent market offers.”
PMI Independent Financial Advisers director John Stewart says: “For Openwork advisers there will be less risks around due diligence and they will get access to funds at a good price.”