Morley Fund Management (Morley), one of the UK’s largest fund managers, has been appointed to run a £300m fixed income pension fund mandate for the National Grid Company of the Electricity Supply Pension Scheme (ESPS).
Morley Fund Management (Morley), one of the UK’s largest fund managers, has been appointed to run a Ł300m fixed income pension fund mandate for the National Grid Company of the Electricity Supply Pension Scheme (ESPS).
The mandate is split between 50% index linked gilts, 17% conventional gilts and 33% corporate bonds. The lead fund manager is Trevor Welsh and the objective of the fund is to outperform the composite benchmark by 0.75% per annum over 3 year rolling periods.
Since September 2000 Morley has also managed a Ł9m UK equities mandate on behalf of another ESPS Group, Edison.
Alistair Morrison, managing director, Institutional at Morley Fund Management said: "Winning this mandate is a great success for our fixed income team. We are looking forward to a long and successful relationship with the National Grid Group Trustees and the Electricity Supply Pension Scheme as a whole."
Ceris Williams, head of fixed income at Morley Fund Management, said: “Morley is a committed active manager in all key bond markets. With a team of 47 fixed income investment professionals we bring significant breadth and depth of resource to the National Grid pension fund mandate.”
Chris Spencer, chairman of the Group Trustees' Investment Committee, said: “We chose Morley because they demonstrated a proven ability in managing a diverse range of bond sectors.”
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For further information please contact:
Fiona Baker, Head of Corporate Communications
020 7809 8617
Morley Fund Management
Notes to editors
Morley’s Fixed Income team
- Morley has one of the largest and most experienced fixed income teams in the UK, with a total of Ł53 billion of funds under management (as at 31.03.03). The fixed income team employs 47 investment professionals in London, Singapore and Boston, managing, amongst others, segregated and pooled pension funds as well as a number of high profile retail funds.
Morley Fund Management
- Morley Fund Management (‘Morley’) is an independently managed, London based, asset management business with over Ł104 billion under management (as at 31.03.03). It actively manages a diverse range of asset classes and employs over 1000 personnel worldwide based in London, 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 Aviva Funds 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
Pensions Management Provider Awards 2002 – Commended for Best SRI Fund Manager and Best Fixed Income Fund Manager
*Morley Fund Management International Limited, an Aviva company
- Further information about Morley Fund Management can be found at www.morleyfm.com
- 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 authorised and regulated in the UK by the Financial Services Authority for life assurance, pensions and investments. Registered Office: No 1 Poultry, London EC2R 8EJ. A member of the Investment Management Association.
Morley Fund Management is also a business name of Morley Investment Services Limited and Morley Fund Management International Limited. All are Aviva companies.
Contact us at Morley Fund Management, No 1 Poultry, London EC2R 8EJ.
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