Morley Fund Management’s G7 Fixed Income hedge fund has returned a net 16.20% in its first year. With a Sharpe Ratio of 4.96, the fund has shown impressive performance since its launch on 1 February 2003.
Morley Fund Management’s G7 Fixed Income hedge fund has returned a net 16.20% in its first year. With a Sharpe Ratio of 4.96, the fund has shown impressive performance since its launch on 1 February 2003.
The $135.5m (Ł71.6m)* G7 Fixed Income Fund takes long and short positions in fixed income securities and their derivatives, investing primarily in those countries comprising the G7. It also has some emerging market and credit exposure.
Managed by Shahid Ikram, Head of Aggressive Alpha and Hedge Funds at Morley, the Fund aims to produce superior and robust risk return profiles by combining different investment opportunities (such as choice of markets, yield curves and stocks) within strict risk parameters. The resulting portfolio is largely independent of the direction of the market and adds value consistently over both market and business cycles.
Neil Smith, Head of Investment Trusts at Morley Fund Management, said: "We couldn’t have asked for a better start to Morley’s G7 Fixed Income Fund. It has demonstrated its ability to deliver exceptional performance in difficult market conditions.
"We have already seen widespread interest from the institutional market for this product, with over $90m of inflows in the last four months. With Shahid Ikram’s performance record and robust investment process, we’re confident that this Fund will continue to deliver superior returns for its investors."
Key features of the Morley G7 Fixed Income Fund include:
- Fund size: $135.5m (Ł71.6m)*
- 3 Share Classes: US Dollar, Sterling, Euro
- Minimum investment: $200 000 / Ł150 000 / €200 000
- Management Fee: 1%
- Performance Fee: 20% on returns over 1 month LIBOR
- Guernsey Domicile: Dublin and Channel Islands listings
- Monthly Dealing at NAV
*as at 20 February 2004
Sharpe Ratio calculated using Monthly NAVs 1/2/03-31/1/04, source: Morley Fund Management
NAV / Performance source: Credit Suisse Fund Administration Limited
For further information please contact:
Fiona Baker, Head of Corporate Communications 020 7809 8617
Morley Fund Management 07736 883 832 Fiona.baker@morleyfm.com
Notes to editors
For sales enquiries please contact:
Charles Hoblyn, Head of Investment Sales 020 7809 6428
Morley Fund Management Charles.hoblyn@morleyfm.com
Morley’s Fixed Income team
Morley has one of the largest and most experienced fixed income teams in the UK, with a total of Ł58.7 billion of funds under management (as at 31 December 2003). The fixed income team employs 47 investment professionals based in London, Singapore and an associate office in Boston, managing, amongst others, segregated and pooled pension funds as well as a number of high profile retail funds.
Morley Fund Management
Morley Fund Management (‘Morley’) is an independently managed, London based, asset management business with over Ł111 billion* under management (as at 31.12.03). 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
**MFM International Limited, an Aviva company
Awards
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
Morley Fund Management is a business name of Morley Fund Management Limited, registered in England No. 1151805. A member of the Norwich Union Marketing Group, members of which are authorised and regulated in the UK by the Financial Services Authority for life assurance, pensions and investments. Registered Office: No. 1 Poultry, London EC2R 8EJ. A member of the Investment Management Association.
Morley Fund Management is also a business name of Morley Investment Services Limited and Morley Fund Management International Limited. All are Aviva companies.
Contact us at Morley Fund Management, No. 1 Poultry, London EC2R 8EJ.
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