Woodford to manage Openwork UK equity fund

Woodford-Neil-700x450.jpg

Neil Woodford is to manage a new UK equity fund launched by advice network Openwork.

The UK Growth and Income fund, which will take positions in both listed and unquoted companies in the UK, will only be available to Openwork’s advisers.

The fund will be available in February through Openwork’s asset management business, Omnis Investments, which offers multi-asset model portfolios with funds run by groups including Schroders, Jupiter and Threadneedle. Most recently, Newton Asset Management was added to the fund line-up.

Openwork managing director Philip Martin says: “We know that Woodford Investment Management has been inundated with requests to manage money and we are absolutely delighted that they have chosen to partner with Omnis.

“It is a real validation of the scale of Openwork that we can form a long-term partnership with the UK’s most celebrated fund manager and we look forward to working with Neil and his team to grow the fund and deliver positive outcomes for customers.”

Fees for the fund were not immediately available.