June 21, 2019 / 7:53 AM / 3 months ago

Openwork hands Woodford fund mandate to Jupiter

LONDON, June 21 (Reuters) - British wealth manager Openwork’s Omnis Investments has picked Jupiter Asset Management to run a 317 million pound ($402.46 million) fund formerly run by Woodford Investment Management, it said on Friday.

Openwork said it pulled the Omnis Income & Growth Fund mandate shortly after Woodford suspended its flagship fund on June 3.

Openwork said in a statement on Friday that it decided to change managers in May “as part of Omnis’s focus on delivering the best outcomes for clients and the advisers that serve them”.

$1 = 0.7876 pounds Reporting by Carolyn Cohn; editing by Simon Jessop

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