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.”