Omnis Investments Limited, Openwork’s £7bn specialist asset management company, is launching nine new funds and the appointment of four new investment managers.

The firm says the new funds “bring even more high-quality investment managers to the Omnis proposition and deliver increased diversification and asset class specialisation aimed at providing a best-in-class offering for investors”.
 
The four new investment managers are RWC Partners, Hermes Investment Management, AXA Investment Managers and Fulcrum Asset Management.
 
RWC will manage the Omnis European Equity Opportunities Fund; Hermes the Omnis Absolute Return Fund; AXA the Omnis Short Dated Bond Fund; and Fulcrum the Omnis Diversified Returns Fund.
 
Jupiter Asset Management, Fidelity International and T. Rowe Price Investment Manager, which already manages Omnis funds, will run the rest of the nine funds.

The funds that have been closed include the Omnis US Equity Fund, Omnis Emerging Market Equity Fund, Omnis European Equity Fund and the Omnis Alternative Strategies Fund.
 
Mike Morrow, Openwork’s wealth and platform director, said: “Our investment philosophy is always to provide high quality investment solutions, which strive to achieve the results that Openwork clients expect from their investments over time.
 
“We are delighted to announce the launch of nine new funds and the appointment of four of the best investment managers in the industry, providing investors with further diversification and giving them more choice with their investments.
 
“The investment managers were chosen following an exacting selection process and having reviewed several asset managers.

“The ones selected are all respected houses and fund managers, who’s corporate cultures and styles compliment Omnis. Each were judged on four core requirements: Suitability, Quality, Ability and Diversification.”
 
The reorganisation has been carried out through what is known as a “Scheme of Arrangement”.

The closing down and launching of the new funds was approved by the FCA and by shareholders at an Extraordinary General Meeting on 22 July.