Omnis Investments awards Ninety One £573m UK Income & Growth mandate
Omnis Investments awards Ninety One £573m
UK Income & Growth mandate
Ninety One Value team finds the potential in unloved companies
28/29 October 2024. Omnis Investments, part of The Openwork Partnership, today announces the appointment of Ninety One as manager of the Omnis Income & Growth Fund. Ninety One, a global investment manager with £127.4 billion in assets under management as at 30.09.24, will be appointed as fund manager of the £573 million segregated mandate effective December 2024.
The Omnis UK Income & Growth Fund will substantially align to the approach taken by Ninety One’s UK Special Situations fund but with adjustments to align to Omnis’s specific requirements, demonstrating the benefits of Omnis being the ACD of its fund range. Managed by Alessandro Dicorrado, Head of Value, and seven investment professionals from the Value team, the fund is a relatively high conviction, concentrated portfolio, investing primarily in the shares of UK companies. The fund targets mispriced businesses, investing in assets believed to be undervalued by the market, with such businesses demonstrating sustainable earnings recovery, growth or cash return potential. The Omnis UK Income & Growth Fund’s investment objective is unchanged, aiming to achieve a return consisting of both income and capital growth which exceeds that of the FTSE All-Share TR Index, after all fees and expenses, over a five-year rolling period.
The Omnis Income & Growth Fund was previously managed by Jupiter. A change in personnel at Jupiter triggered a strategic review of the incumbent manager and led Omnis to this exciting new partnership with Ninety One.
During the selection process, Omnis Investments assessed a wide range of managers. The Omnis team has strong conviction in Ninety One’s highly active investment approach and is confident it will deliver the fund’s investment objective.
Andrew Summers, Chief Investment Officer, Omnis Investments: “Alessandro and the team impressed us with the clarity and rigour of their investment approach which has enabled the team to consistently identify compelling investment opportunities. We believe Ninety One’s investment approach will enable the fund to deliver its investment objective, and we look forward to working with them.”
Tom Peberdy, Managing Director, UK, Ninety One: “Ninety One’s Value team are true active investors, spotting potential in unloved companies when market sentiment towards them is poor and valuations appear cheap. By seeking to understand why conventional wisdom is wrong through fundamental research, the team are able to deliver a differentiated, concentrated, high conviction portfolio. Omnis has an unwavering commitment to providing its clients, investors and advisers with positive, long-term investment outcomes. By partnering with Omnis, we believe we can help them in delivering on their mission of generating value for their end investors through active management.”
ENDS
Notes to Editors
Media contacts:
Ninety One
Jeannie Dumas
+44 20 3938 3084
+447931707108
Laura Henderson
+442039382609
+44 74 4755 5044
Omnis
Gilly Lock – Sodali & Co
+447711 380007
General: omnis@sodali.com
About Openwork Partnership
- The Openwork Partnership is one of the UK’s largest financial services networks with the group having over 4,750 financial advisers operating across the UK. It operates as a directly authorised, multi-panel distribution network.
- The Openwork Partnership operates panels for pensions, annuities, and protection (life assurance, critical illness, General Insurance). Omnis Investments, the investment arm of the group, offers a range of investment funds, managed by some of the best fund managers in the market, as well as a managed portfolio service.
- In the mortgage sector The Openwork Partnership operates a panel of over 50 lenders for mortgages and is among the top three networks for almost all the major mortgage providers.
- The Openwork Group is majority-owned by the Openwork Partnership LLP with its employees holding a minority stake.
About Omnis Investments
Omnis Investments manages over £11 billion of assets, working as part of The Openwork Partnership, a network of 4,750 financial advisers across the country helping people look forward with confidence and optimism. Omnis has a range of funds and strategies across the full risk/return spectrum, managed by leading investment managers. The Omnis funds are only available through advisers of The Openwork Partnership and 2plan wealth management.
About Ninety One
Ninety One is an active, global investment manager managing £127.4 billion in assets (30.09.24). Our goal is to provide long-term investment returns for our clients while making a positive difference to people and the planet. Established in South Africa in 1991, as Investec Asset Management, the firm began as a small start-up offering domestic investments in an emerging market. In 2020, as a global firm proud of our emerging market roots, we demerged to become Ninety One. We are committed to developing specialist investment teams organically. Our heritage and approach let us bring a different perspective to active and sustainable investing across equities, fixed income, multi-asset and alternatives to our clients - institutions, advisors and individual investors around the world.
For more information, please visit NinetyOne.com
DOWNLOAD THE FULL PRESS RELEASE HERE
