Morley Fund Management (Morley) has been appointed to manage a £90 million (EUR140m) property mandate for Kingfisher Pension Scheme.
Morley Fund Management (Morley) has been appointed to manage a Ł90 million (EUR140m) property mandate for Kingfisher Pension Scheme. The fund is managed by Phil Ellis, Institutional Property Business Development Manager and has been funded since December 2002.
The fund will invest in a number of indirect property vehicles including limited partnerships, property unit trusts and managed pension funds.
The property team at Morley manages in excess of Ł10 billion (EUR16 billion) of assets, making Morley one of the largest property fund managers in the UK. This team has been at the forefront of recent innovations creating limited partnerships such as The Mall Fund and The Junction Fund (both with Capital and Regional), and the Ashtenne Industrial Partnership (with Ashtenne plc).
Commenting on the mandate win, Ian Womack, Head of Property at Morley Fund Management, said: "We are delighted that Morley has been entrusted by Kingfisher to manage this mandate. Property is a key asset class for a well diversified pension fund and through Morley, clients can gain access to a leading property team. We look forward to a successful relationship with Kingfisher."
Commenting on the appointment of Morley, Colin Hately, Pensions Manager at Kingfisher Pension Scheme, said: "We appointed Morley due to its excellent track record and breadth of expertise in managing indirect property investments."
-ends-
For further information please contact:
Fiona Baker, Head of Corporate Communications 020 7809 8617
Morley Fund Management
Notes to editors
Morley Property
Morley Fund Management
Morley Fund Management ('Morley') is an independently managed, London based, asset management business with over Ł105 billion under management (as at 31.12.02). It actively manages a diverse range of asset classes and has investment management operations in London, Tokyo and Singapore and an associate office in Boston*.
Morley is a wholly owned subsidiary of the Aviva 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 by Norwich Union, and international funds marketed under the Privilege Portfolio brand.
Awards
Fund Manager of the Year - Pensions Week Awards 2002
Specialist Manager of the Year - UK Pensions Awards 2002
Insurance Fund Manager of the Year (awarded to Norwich Union) - Standard and Poor's 2002
Sustainable and Ethical Investment and Asset Management Award - Liveable City Awards 2002
*Norwich Union Investment Management, an Aviva Group company
Further information about Morley Fund Management can be found at www.morleyfm.com
Issued by Morley Fund Management Limited and Morley Investment Services 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 in the UK by the Financial Services Authority 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 Aviva companies.
For institutional correspondence please contact us at Morley Fund Management, No. 1 Poultry, London EC2R 8EJ, for retail correspondence please contact us at Morley Fund Management, PO Box 6056, Basildon SS15 5UU.