Morley Fund Management (‘Morley’) has launched the Morley Sterling Liquidity Fund on 10 June 2002. This Fund invests in UK money markets and allows corporates, institutions and local authorities to maximise returns on any excess liquidity which they hold. Initially the Fund will be seeded with in excess of £1 billion and has been awarded an Aaa/MR1+ rating by Moody’s.
Morley Fund Management (‘Morley’) has launched the Morley Sterling Liquidity Fund on 10 June 2002. This Fund invests in UK money markets and allows corporates, institutions and local authorities to maximise returns on any excess liquidity which they hold. Initially the Fund will be seeded with in excess of Ł1 billion and has been awarded an Aaa/MR1+ rating by Moody’s.
The fund aims to provide investors with a higher, more stable rate of return, with lower risk, on cash balances than would otherwise be available to them in the overnight and short- term money markets. The fund is also structured to allow clients instant access to their cash*.
Key features include:
- Enhanced returns through scale as the fund has larger sums to invest than clients may have individually.
- Capital preservation through Aaa/MR1+ (Moody’s) rating which will be maintained by the Treasury Team through strict adherence to the Fund’s investment objective governing asset quality and risk control.
- Realistic minimum initial subscription of Ł500,000, additional subscriptions of Ł100,000.
- Gross dividend payments through tax efficient offshore status.
The Morley Liquidity Fund is managed by Matthew Tatnell, Head of Money Markets and Foreign Exchange at Morley and supported by Morley’s five strong Treasury team. The Fund aims to achieve returns in excess of the overnight money market fund rate (net of all management fees).
Commenting on the launch of the Morley Sterling Liquidity Fund, Tim Lucas, Head of Treasury at Morley Fund Management, said: “We are delighted to be able to offer the Morley Sterling Liquidity Fund highlighting Morley’s commitment to innovative and flexible products for the UK investment market. Triple-A money market funds have been an integral part of the US market since the 1970s and as the UK realises the benefits, we’re seeing increased demand for these funds. We can now further enhance a client’s returns on cash whilst preserving capital through strict risk controls.”
*subject to a cut off time of 1pm
-ends-
For further information please contact:
Laura Cook, PR Executive 020 7809 8125
Notes to editors
- The Morley Sterling Liquidity Fund also has the following features:
- Superior returns through greater duration flexibility and diversification by investing in a range of quality money market instruments including deposits, CDs, CP and FRNs
- Enhanced returns through scale as the fund has larger sums to invest than clients may have individually
- Instant access to funds
- Capital preservation through Aaa/MR1+ (Moody’s) rating which will be maintained by the Treasury Team through strict adherence to the Fund’s investment objective governing asset quality and risk control.
- The Morley Sterling Money Market Fund is a sub-fund of Morley Liquidity Funds plc, an open ended umbrella investment company. The Fund is based in Dublin and is listed on the Irish Stock Exchange.
- Yields will be available in the Financial Times
- Realistic minimum initial subscription of Ł500,000 additional subscriptions of Ł100,000
- Monthly dividends which can be rolled-up
- Gross dividend payments through tax efficient offshore status
Fees:
| Class of Share | Minimum initial subscription | Annual charge and expenses |
| Class 1 | Ł250 000 | 0.20% |
| Class 2 | Ł5 000 000 | 0.15% |
| Class 3 | Ł50 000 000 | 0.10% |
Morley Fund Management
- Morley Fund Management (‘Morley’) is an independently managed, London based, asset management business with over Ł107 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. It aims to be a leader in Socially Responsible Investment.
- 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
- Further information about Morley Fund Management can be found at www.morleyfm.com
- Morley Liquidity Funds plc is a company incorporated with limited liability as an investment company with variable capital under the laws of Ireland.
- The value of an investment and any income from it can go down as well as up. Investors may not get back the original amount invested.
Issued by Morley Fund Management Limited.
Morley Fund Management is a business name of Morley Fund Management Limited, registered in England No. 1151805 and Morley Investment Services Limited, registered in England No. 1973412. Both are members of the Norwich Union Marketing Group, members of which are regulated by the FSA for life assurance, pensions and investments. Morley Investment Services Limited is a member of the Investment Management Association. Registered Offices: No. 1 Poultry, London EC2R 8EJ. Both are CGNU Group companies.
For correspondence please contact us at Morley Fund Management, No. 1 Poultry, London EC2R 8EJ.