Morley Fund Management, one of the UK’s largest fund managers, has been awarded a £100m socially responsible investment (SRI) mandate by the UNISON Staff Pension Scheme. This is the largest SRI pension fund mandate awarded in the UK.
Morley Fund Management, one of the UK’s largest fund managers, has been awarded a Ł100m socially responsible investment (SRI) mandate by the UNISON Staff Pension Scheme. This is the largest SRI pension fund mandate awarded in the UK.
The fund will be invested in Global Equities and managed by Clare Brook, director of SRI and Peter Michaelis, SRI fund manager, with support from a team of 6 other SRI fund managers and analysts as well as 27 mainstream analysts. The fund’s objective is to outperform a composite benchmark consisting of mainstream indices by 1.5% pa over rolling 3 year periods.
Commenting on the mandate win, Paul Moody, head of business development - SRI at Morley, said: “We are delighted that UNISON has recognised the long term value that Morley Fund Management can deliver through investing in a socially responsible manner. By measuring the fund against mainstream benchmarks, we aim to prove that it is possible to invest in a socially responsible manner without sacrificing performance or compromising values.
“The fact that this is the largest SRI pension fund mandate awarded in the UK demonstrates that there is a growth in the support for socially responsible investing as a way to balance good returns with good corporate responsibility.”
Paul Coard, pensions manager at UNISON, said: “The trustees of our pension scheme feel that their investment policy should not unnecessarily clash with the values of the trade union which is our principal employer. We therefore chose Morley to run this SRI mandate as they presented an investment philosophy which fits well with the values upheld by our organisation.”
UNISON is the largest trade union in the UK and has almost 1.3million members working across the public services.
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For further information please contact:
Laura Cook, PR Executive 020 7809 8125
Morley Fund Management
laura.cook@morleyfm.com
Notes to editors Morley’s SRI team
- Led by Clare Brook, Morley’s 10 strong Socially Responsible Investment team is one of the largest and most experienced in the UK. The team has grown in reputation and status, with members frequently asked for advice by companies, Non-Governmental Organisations (NGOs) and government departments.
- Morley’s SRI team manages assets of over Ł450m, including the Sustainable Futures fund range, which consists of six retail investment funds (including a corporate bond fund). They also manage, amongst others, three pooled pension funds and a number of segregated institutional mandates.
Morley Fund Management
- Morley Fund Management (‘Morley’) is an independently managed, London based, asset management business with over Ł112 billion under management (as at 30.06.03). It actively manages a diverse range of asset classes and employs in the region of 1000 personnel 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 brands.
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
*Morley Fund Management International Limited, an Aviva company
Further information about Morley Fund Management can be found at www.morleyfm.com