Norwich Union’s UK Income Opportunities fund celebrated its fifth anniversary on 28 February 2007.
Norwich Union’s UK Income Opportunities fund celebrated its fifth anniversary on 28 February 2007. The fund marked the occasion with first percentile performance since launch, and is currently first in its sector over five years (as at 28 February 2007).
The fund’s objective is to provide a consistently high level of income, with capital growth, through investment in a diversified portfolio of UK equities. The fund transferred to Morley Fund Management in June 2006, and was renamed to the Norwich UK Income Opportunities fund in September 2006.1
Since its launch In February 2002, the fund has:
- Achieved first quartile ratings in the IMA UK Equity Income sector
- Been rated first out of 130 funds in the sector
- Achieved 123.22% growth against a sector average of 61.11%.2
Neil Davies, director of marketing investments at Norwich Union, said: “The returns on this fund are great news for our customers and demonstrate our commitment to getting them the best results on their investments. We’ve worked hard to widen and improve our range of funds and this is another sign of the success we are having as a fund provider.”
Ian Lancaster, manager of the UK Income Opportunities fund, said: “It’s a great achievement for everyone involved that the fund has done so well, to get first percentile performance since launch is a testament to our stock picking methods. We aim to continue delivering excellent performance to customers who invest with us.”
Past performance is not a guide to future performance – the value of the fund and any income from it can go down as well as up and the investor may not get back what they put in.
-ends-
Press office contacts:
Norwich Union
James Paterson 01904 452525
Sarah Horner 01904 452828 Out of hours 07800 691569
Morley Fund Management
Strahan Wallis 0207 809 8618 Out of hours 07910 044424
Notes to editors:
Performance figures taken from the Reuters Lipper Hindsight system
2 Performance figures are net of tax and annual management charge, and do not include the initial charge and TER.
About the fund
The Norwich UK Income Opportunities fund is available as a sub-fund of the Norwich Union ICVC (OEIC).
The fund’s aim is to achieve a consistently high level of income, with capital growth, through investment in a diversified portfolio of UK equities. These investments will principally, but not exclusively, represent securities included within recognised small and mid cap indices.
1 The fund was converted from a unit trust to a sub-fund of the Norwich Union ICVC on the 29 January 2007 and was previously known as the Elite MoneyGuru Income with Growth Trust. The fund transferred to Morley from Progressive Alternative Investments in June 2006, with its name being changed to the Norwich UK Income Opportunities fund as of 29 September 2006.
About the manager
The Norwich UK Income Opportunities fund is managed by Ian Lancaster of Morley Fund Management.
About Norwich Union
Norwich Union is the UK’s largest insurer. It is a leading provider of life, pensions and investment products and one of the largest financial adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.
Norwich Union is the UK’s largest general insurer with a market share of around 14%, with a focus on insurance for individuals and small businesses.
Norwich Union’s news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media