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Omnis awards US Equity mandate to T Rowe Price


Openwork has awarded T Rowe Price the mandate to manage the GBP510 million Omnis US Equity Fund.

From 7 August, the fund will be managed by Jeff Rottinghaus, portfolio manager in the US Equity Division of T Rowe Price and president of its US Large-Cap Core Equity and Growth & Income Equity Strategies.
The Omnis US Equity fund, launched in February 2014, forms part of Openwork’s investment proposition, Omnis, which offers multi-asset model portfolios built with sector funds run by groups including Schroders, Jupiter, Woodford Investment Management and Threadneedle.
Available to Openwork advisers only through their platform relationships, the US Equity fund, as with all the sector funds, is managed to a specific mandate determined by Omnis, whose assets under management have grown to GBP4.9 billion since the launch of the multi-asset range in February 2014.
Philip Martin, Marketing Director at Openwork, says: “T Rowe Price has one of the most respected US equity teams in the industry and we are pleased to award the Omnis mandate to Jeff and the team.
“The centralised Omnis structure allows us to make the best and most appropriate decisions for our advisers and their clients, and we look forward to working with T Rowe Price as we continue to leverage our size and scale to secure high-quality fund management for our customers at a below-market price.”
John Yule, Head of Relationship Management, UK and Ireland at T Rowe Price, says: “As a group that prides itself on fundamental bottom-up research, we are delighted to be able to extend the reach of our US equity capability to the clients of Openwork. Being awarded the mandate to manage the Omnis US Equity Fund is testament to T Rowe Price’s research-based ethos and further cements our long-term commitment to the UK advisory market.”

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