Morley Fund Management (Morley), a leading European fund manager, has secured its first standalone asset allocation mandate for a client outside the Aviva group. The mandate is for both tactical and strategic asset allocation.
Morley Fund Management (Morley), a leading European fund manager, has secured its first standalone asset allocation mandate for a client outside the Aviva group. The mandate is for both tactical and strategic asset allocation.
Go Ahead, a public transport company that provides bus, rail, parking and aviation services across the UK, has awarded Morley a tactical asset allocation mandate with the objective of adding 1 per cent per year to the total value of its pension fund.
In addition, Go Ahead has asked Morley to work in partnership with financial consultant Watson Wyatt to provide strategic asset allocation advice for the entire Ł200m portfolio.
Morley has worked with Go Ahead since April 2002, managing its segregated bond mandate within its pension fund.
Adrian Jarvis, head of strategy, said: "This mandate is important for Morley because it extends our relationship with a valued client. It also signals to the market that, on the back of our success with managing asset allocation within balanced funds, we are now in a position to convert the strength of our internal asset allocation modelling into demonstrable benefits for a broader client base."
Steve Cleal, head of balanced funds, added: "Go Ahead’s pension fund trustees felt that they could do more to improve the returns on their assets, and therefore came to us to discuss how they could use our asset allocation expertise. By providing tactical asset allocation and strategic advice we’re confident that we will improve the returns on Go Ahead’s pension fund."
Morley has a successful track record of adding value through tactical asset allocation, having added value in each of the 6 years they have been running it, with overall performance significantly ahead of client targets.
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For further information please contact:
Fiona Baker, Head of Corporate Communications 020 7809 8617
Laura Cook, Corporate Communications Executive 020 7809 8125
Morley Fund Management
Notes to Editors
Morley Fund Management
- Morley Fund Management (‘Morley’) is an independently managed, London based, asset management business with over Ł118 billion* under management (as at 30.09.04). It actively manages a diverse range of asset classes and employs around 200 investment professionals 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