Aviva Alternative Funds, the Luxembourg-based SICAV of Morley Fund Management, has launched a sterling share class for its successful sub-fund - Alpha Optimum Fund. The new share class will hedge-out all non-sterling currency exposure.
Aviva Alternative Funds, the Luxembourg-based SICAV of Morley Fund Management, has launched a sterling share class for its successful sub-fund - Alpha Optimum Fund. The new share class will hedge-out all non-sterling currency exposure.
Following the recent one-year anniversary of the Aviva Alternative Funds - Alpha Optimum Fund, which saw the fund posting its twelfth successive positive monthly return, Morley is now marketing the Fund to UK institutional and retail clients.
As part of the Aviva Alternative Funds umbrella, the Alpha Optimum Fund is managed by Benchmark Plus, a US-based specialist fund of hedge fund manager. Benchmark Plus has an impressive track record in the US of producing demonstrable alpha with zero beta versus equity or fixed income markets.
Commenting on the Aviva Alternative Funds - Alpha Optimum fund of hedge funds, Neil Smith, head of alternative investment at Morley Fund Management, said: "We’ve had considerable interest from UK pension funds and consultants for the Alpha Optimum Fund as they look for new sources of alpha to help them match the needs of their funds.
"This product has the benefit of being truly market neutral, not correlated to the equity or fixed interest markets.
"We believe we have a top performing fund and we have launched the sterling share class in direct response to the needs of our clients."
Minimum investment into the new sterling share class, launched on 30 September 2004, will be Ł15,000 for the private share class and Ł600,000 for the institutional class. To the end of August 2004, the fund has returned 7.6% since its launch on 30 June 2003, a period during which most hedge funds have suffered. (Total return from inception to end August. Source: Lipper)
-ends-
For further information please contact:
Morley Fund Management, Corporate Communications
Fiona Baker 020 7809 8617
Monina Villaroman 020 7809 8618
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
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
Contact us at Morley Fund Management, No. 1 Poultry, London EC2R 8EJ.