Group’s manager Bish Limbu aims to hit £1.5bn in assets under management by year end
Octopus Investments’ multi-manager service has broken through £500m of client assets under management following strong daily demand of £2m into its three fund ranges.
Fund manager Bish Limbu says Octopus has plans to be one of the largest multi-manager providers and has set an ambitious target of £1.5bn under management at year end.
Limbu says after becoming profitable during the third quarter of last year, the group set out to add new analysts to the team and upgrade its research systems.
Most of Octopus multi-manager’s AUM comes from its Omnis range, which is run on behalf of Openwork. However, the group has also seen flows into Paradigm’s Prism fund range and the new Octopus Portfolio Manager discretionary service.
“This milestone is a sigh of relief,” Limbu says. “Hitting the break-even target was obviously vital, but we have sailed past this now and inflows have picked up tremendously.”
The new Octopus Portfolio Manager service, which consists of 10 risk-rated solutions derived from four internal multi-manager foundation funds, has just reached £10m of client assets and Limbu says is it set to grow rapidly.
“The service has been prepared for some time and now that we have our adviser distribution ready we are going to be making a big push into this area,” he says.
“We think it is a genuinely good solution for IFAs. It combines the best of discretionary, with the rebalancing, risk monitoring and risk management, with the best of multi-manager.”
