Morley Fund Management (‘Morley’) has been appointed to manage a $100m global equity mandate for the FIA Foundation for the Automobile & Society (“FIA Foundation”).
Morley Fund Management (‘Morley’) has been appointed to manage a $100m global equity mandate for the FIA Foundation for the Automobile & Society (“FIA Foundation”).
The objective of the mandate is to outperform the MSCI World Index over rolling three-year periods. The mandate requires a concentrated, low turnover portfolio that will be run on thematic, growth-orientated lines. This is the first institutional segregated mandate to be run by Michael Jennings, Head of Global Equities, since he joined Morley in October 2001.
Michael is currently building a Global Equity team to work with him on global investment portfolios organised by theme. He launched a Global Equity Themed retail fund in January 2002, having already launched a Global Equity Pooled Pension Fund (through Morley Pooled Pensions Limited) in October last year.
Commenting on the appointment Gerald Holtham, CIO at Morley, said: “We are delighted to be appointed to manage this mandate for such a high profile organisation. This portfolio will be run on a thematic basis, a recent addition to our range, demonstrating our commitment to provide innovative products. Michael is well regarded in the industry for his ability to manage Global Equities on a thematic basis and we look forward to a long and successful working relationship with the FIA Foundation.”
Commenting on the appointment of Morley as investment managers, David Ward, Director General of the FIA Foundation said: “We selected Morley for this particular mandate because the thematic low-turnover approach made a compelling investment case.”
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For further information please contact:
Morley Fund Management
Vicki Rhind, Communications 020 7809 6128
FIA Foundation for the Automobile & Society
David Ward, Director General 020 7581 4181
Notes to Editors
- The FIA Foundation for the Automobile & Society is an UK registered charity endowed by, but distinct from, the Federation Internationale De L’Automobile, a non-profit organisation registered in France.
- Morley Fund Management (‘Morley’) is an independently managed, London based, asset management business with over Ł100 billion under management. It has investment management operations in London, Tokyo and Singapore and an associate office in Boston*.
- 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.
- *Norwich Union Investment Management, a CGNU Group company
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) regulated by FSA and a member of the CGNU Group.