Morley Fund Management (‘Morley’) has been awarded an £86.4m mandate by MLC. This high performance mandate will be split between government bonds and corporate bonds, the fund managers will be Shahid Ikram, Head of UK Sovereign Products and Hedge Funds and Paul Mingay, Head of Corporate Bonds.
Morley Fund Management (‘Morley’) has been awarded an Ł86.4m mandate by MLC. This high performance mandate will be split between government bonds and corporate bonds, the fund managers will be Shahid Ikram, Head of UK Sovereign Products and Hedge Funds and Paul Mingay, Head of Corporate Bonds.
The objective of the mandate is to outperform a defined composite index by 0.75% per annum over rolling three year periods.
MLC is one of the leading fund of fund providers based in Australia and is wholly owned by the National Australia Bank. MLC are looking to build a significant presence in the UK Retail Market.
Commenting on their appointment as investment manager, Ian Williams, Head of UK Institutional Sales at Morley, said: "We are delighted to be working with MLC. The multiple manager structure is becoming increasingly important in the UK and Europe and we’re confident that the proven expertise of our fixed income team will help MLC to make an impact in this market."
Commenting on the appointment of Morley, Michael Clancy, Head of Investment Management at MLC Trust Management, said: "We appointed Morley due to their experienced investment team and disciplined approach to the management of government and corporate fixed income assets within the UK and abroad. We are looking forward to a long and successful relationship with them.”
For further information please contact
Morley Fund Management
Vicki Rhind, Communications, 020 7809 6128
MLC Trust Management
Tim Pie, Corporate Communications Manager 020 7710 2146
Notes to Editors
- The fixed income team at Morley has in excess of Ł42.9bn under management and employs a total of 32 investment professionals.
- Morley Fund Management (‘Morley’) is an independently managed, London based, asset management business with over Ł105 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.
- Morley Fund Management is a business name of Morley Fund Management Limited, registered in England No. 1151805. A member of the Norwich Union Marketing Group, members of which are regulated by the FSA for life assurance, pensions and investments. Registered Office 1 Poultry London EC2R 8EJ.
- Morley Fund Management is also a business name of Morley Investment Services Limited. Both are CGNU companies.
- Telephone calls may be recorded for training and monitoring purposes.