Awarded Enhanced Fund Manager (EFM) Incentive EFM status will augur well for Morley’s expansion plans in the Asia Pacific and SingaporeMorley Fund Management Singapore (Morley Singapore), a subsidiary of Morley Fund Management, is pleased to announce that it has been awarded the status of Enhanced Fund Manager (EFM) by the Monetary Authority of Singapore (MAS).
Awarded Enhanced Fund Manager (EFM) Incentive
EFM status will augur well for Morley’s expansion plans in the Asia Pacific and Singapore
Morley Fund Management Singapore (Morley Singapore) a subsidiary of Morley Fund Management is pleased to announce that it has been awarded the status of Enhanced Fund Manager (EFM) by the Monetary Authority of Singapore (MAS)
Steven Choy, CEO of Morley Singapore, is delighted with the good news and sees it as an endorsement of the company’s investment management capabilities and performance standards. He also commented enthusiastically that the new status recognises the group’s continued expansion in Singapore over the last five years.
“Attaining the EFM status is a milestone that marks our continued commitment to the local fund management arena. Leveraging our experience and success in Singapore, we aim to extend the Morley brand and our trademark of excellence to other parts of the Asian fund management fraternity. The new status opens the door to potentially exciting opportunities and tangible business rewards for the group and gives us additional ammunition to press ahead with our objective of strengthening our market penetration in the region,” he enthused.
Morley’s newly-appointed Managing Director (International), Malcolm Le May, says he is optimistic that the EFM status will help Morley Singapore to achieve its goal to establish Morley as one of the top-five fund management brands in the Asia Pacific market.
He commented: “While the global economic downturn will inevitably lead to a pause for thought in the short-term, we continue to take the long-term view that Asia offers great potential in the next wave of growth. As our largest Asian office, we remain committed to growing our business in Singapore and extending our presence throughout the Region. Enhanced Fund Manager Status will no doubt allow us to build on the foundations already laid in the last year and to fulfil our global ambitions of making our Singaporean presence a key part of building a world class fund management company.”
Based in the group’s regional headquarters, Morley Singapore has a strategic role to play in the group’s global expansion blueprint. To date, Morley Singapore manages Asia Pacific equity portfolios totalling almost S$4.1 billion (as at end October 2001) for both institutional and retail investors around the world.
For further information contact:
Morley Fund Management (Singapore)
Steven Choy, Chief Executive Officer, Singapore + 65 232 5086
Morley Fund Management (London)
Malcolm Le May, Managing Director International 020 7809 8100
Laura Cook, PR Executive 020 7809 8125
Scotchbrook – BSMG Worldwide (Singapore)
Joanne Chong, Consultant + 65 235 3121
Notes to Editors
Morley Fund Management has had an office in Singapore since 1992. Morley has made Singapore its base for Asian investment management and business development since that date.
In July 2001 Morley appointed a new Managing Director (International), Malcolm Le May, to oversee all of Morley’s activities outside of Europe.
Morley Fund Management (Singapore) Ltd earlier this year appointed a new Chief Executive Officer, Steven Choy, as well recruiting a number of senior investment staff.
Morley Fund Management is an independently managed, London based, asset management business with Ł100 billion under management. It has investment management operations in London, Boston, Tokyo and Singapore.
Morley is a wholly owned subsidiary of the CGNU Group and manages both institutional and retail funds under the Morley brand. It also acts as investment manager for a range of retail investment funds, marketed in the UK under the Norwich Union brand.
CGU plc and Norwich Union plc merged on 30 May 2000 to create CGNU plc, the UK’s largest insurance group and one of the top-five insurers in Europe with substantial positions in other markets around the world, making it the world’s seventh largest insurer based on gross worldwide premiums.
Issued by Morley Fund Management.
Morley Fund Management is a business name of Morley Fund Management Limited (incorporated in England with Registered No. 1151805 and Registered Office 1 Poultry London EC2R 8EJ) and Norwich Union Investment Management Limited (incorporated in England with Registered No. 2152949 and Registered Office 8 Surrey Street Norwich NR1 3NG) both regulated by IMRO and members of the CGNU Group