Omnis Investments has replaced Octopus Investments with PineBridge Investments as manager of its £270m multi-manager fund range, effective 1 October.
The move see Omnis end its relationship with the Octopus multi-manager team, which had run the funds since their inception in 2008.
Omnis' multi-manager fund range, including its Adventurous, Balanced, Cautious and Distribution funds, will now be managed by Pinebridge's Michael Kelly, global head of multi-asset and Hani Redha, portfolio manager, global multi-asset.
The managers have been given a mandate to "maximise value through a demonstrably active investment approach capable of delivering outperformance over the medium to long-term" and will seek to achieve the funds' investment objectives through the firm's integrated investment approach "across global markets and asset classes".
Mike Morrow, wealth and platform director at Openwork, parent to Omnis, said: "Our investment philosophy is always to provide high quality investment solutions, which strive to achieve the results that Openwork clients expect from their investments over time.
"We are delighted to announce that PineBridge Investments, which is one of the best investment managers in the industry, will now manage our multi-manager fund range.
"PineBridge was chosen following an exacting selection process and having reviewed several asset managers, with PineBridge's corporate culture and style complementing Omnis. Each were judged on four core requirements: suitability, quality, ability and diversification."
Klaus Schuster, CEO Europe at Pinebridge, added: "I am delighted Omnis has selected PineBridge as a long-term strategic partner to manage its multi-manager fund range. Our team has a great range of expertise and experience managing multi-asset funds for sophisticated clients and through this partnership we are pleased to be able to access a new range of investors."
Kelly said: "The requirements of Omnis' multi-manager funds closely match PineBridge's expertise in developing diversified and dynamic portfolios that are capable of navigating changing market conditions to meet our investors' requirements."