Morley Fund Management, one of the UK’s largest fund managers, has been appointed to run a US$1.7 billion mandate by Aviva Life Insurance Company. The account will be run by Morley’s associate office in Boston*.
Morley Fund Management, one of the UK’s largest fund managers, has been appointed to run a US$1.7 billion mandate by Aviva Life Insurance Company. The account will be run by Morley’s associate office in Boston*.
The mandate is split between US$1.6 billion in corporate bonds and US$100 million in convertibles. The corporate bonds will be managed by Dan Fasciano. Dan was appointed Head of Fixed Income in the Boston office in 2002 from Mellon Financial where he was Director – Taxable Fixed Income.
The convertibles portion will be managed by David Clott, who is also based in Boston. Morley is one of the largest convertibles fund managers by funds under management and David currently co- manages, amongst other funds, the Privilege Portfolio Global Convertibles Fund.
Dean Stannard, Managing Director, International and Product Development, said: “Morley is delighted to win this mandate from Aviva Life Insurance Company. This mandate represents a major step forward in strengthening our commitment to the core asset class of credit products.”
Gerry Holtham, Chief Investment Officer, Morley Fund Management, said: “This success reflects Morley's activity over the past year in building up the fixed income capability in Boston. It is also a major milestone in our drive to deliver credit capability on a global scale.”
"We are pleased to be working with the Morley-Boston team. Our relationship with Morley-Boston is already off to a great start as a result of their hard work on our behalf," said Hans L. Carstensen III, president and CEO of Aviva Life Insurance Company.
Aviva Life Insurance Company and Morley Fund Management are both subsidiary companies of Aviva plc, one of the top 10 insurance companies in the world.
*Norwich Union Investment Management, an Aviva Group company.
- Ends –
For further information please contact:
Fiona Baker, Head of Corporate Communications +44 20 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 Ł105 billion under management (as at 31.12.02). It actively manages a diverse range of asset classes and has investment management operations in London, Tokyo and 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 Privilege Portfolio 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
*Norwich Union Investment Management, an Aviva Group company
Further information about Morley Fund Management can be found at www.morleyfm.com
Morley Fund Management trades under the name of CGU Fund Management in the US
Issued by Morley Fund Management Limited.
Morley Fund Management is a business name of Morley Fund Management Limited, registered in England No. 1151805 and Morley Investment Services Limited, registered in England No. 1973412. Both are members of the Norwich Union Marketing Group, members of which are regulated in the UK by the Financial Services Authority for life assurance, pensions and investments. Morley Investment Services Limited is a member of the Investment Management Association. Registered Offices: No. 1 Poultry, London EC2R 8EJ. Both are Aviva companies.
For correspondence please contact us at Morley Fund Management, No. 1 Poultry, London EC2R 8EJ.