Morley Fund Management, one of the UK’s largest fund managers, has appointed Ben Stirling to head up its move into European Property. Ben’s objective will be to roll out Morley’s successful UK property fund management business into continental Europe.
Morley Fund Management, one of the UK’s largest fund managers, has appointed Ben Stirling to head up its move into European Property. Ben’s objective will be to roll out Morley’s successful UK property fund management business into continental Europe.
Ben is currently a fund manager within Morley Property’s external funds team. This team has been at the forefront of establishing indirect property investment vehicles in the UK, teaming up with specialist asset management partners including Capital & Regional, Ashtenne and Chelsfield. In his new role, Ben will be seeking to identify suitable partners across continental Europe in order to replicate the successful model that has been established in the UK.
Alongside this move is the decision of Morley’s major client to invest up to Ł1 billion into continental European property. For asset allocation decisions, continental European property will be treated as a distinct asset class from UK property.
Commenting on the decision, Ian Womack, managing director, property at Morley Fund Management, said: "We are delighted to take this opportunity to expand our business into continental Europe. We pride ourselves on making partnerships work, combining our fund management expertise with the skills and experience of specialist asset managers to deliver exceptional returns for our clients. Ben has experience of investing in continental Europe, as well as managing one of our indirect investment vehicles, and I know he will be successful in building our European business."
Ben Stirling said: "I am looking forward to building Morley Property’s presence in continental Europe. We will be principally partner led, however we are prioritising what we consider to be the more attractive property markets in the region. France is a key focus for us due to its size and liquidity. We are also seeking to identify opportunities in Southern and Central Europe where returns are relatively attractive."
-ends-
For further information please contact:
Fiona Baker, Head of Corporate Communications 020 7809 8617
Morley Fund Management 07736 883 832
Notes to Editors
Morley Fund Management
- Morley Fund Management (‘Morley’) is an independently managed, London based, asset management business with over Ł114 billion* under management (as at 30.06.04). It actively manages a diverse range of asset classes and employs in the region of 900 staff 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.
- *Not including mortgage assets
**Morley Fund Management International Limited, an Aviva company
Morley Property
- The property team at Morley manages in excess of Ł12 billion of UK Property assets (as at 30.06.04), making Morley one of the largest property fund managers in the UK. Winners of the high profile Property Week Fund Manager of the Year Award 2004, the team consists of 50 investment professionals and manages a range of funds, including segregated and pooled pensions as well as 2 retail unit trusts. The funds range across standard and non standard property investments and include, amongst others, a regeneration fund and a PFI fund. Morley has been at the forefront of innovation in property fund management and has launched ten specialist sector based funds with partners, including the following Jersey-based Unit Trusts: Ashtenne Industrial Fund, Quercus Healthcare Property, The Junction and The Mall
Awards
- Property Week Awards 2004 – Best Property Fund Manager
- Pensions Management Provider Awards 2003 – Best Property Fund Manager
- 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
Further information about Morley Fund Management can be found at www.morleyfm.com