Hires US equities team Morley Fund Management (Morley), one of the UK’s largest fund managers, took further steps to reshape its investment team today with the creation of a new structure for its equity research analysts. Morley also announced the appointment of two fund managers in London to manage US equities.
Hires US equities team
Morley Fund Management (Morley), one of the UK’s largest fund managers, took further steps to reshape its investment team today with the creation of a new structure for its equity research analysts. Morley also announced the appointment of two fund managers in London to manage US equities.
The change of structure in equity research will see the integration of fund managers and analysts into smaller, more collaborative teams. This model has already worked well for Morley’s recently formed UK Specialist and Small Caps team as well as the SRI and Emerging Markets Equities teams. The plan is to extend it across the UK Core, European, US and Global Equity desks.
Katherine Garrett-Cox, chief investment officer of Morley Fund Management, said: "We began reshaping our investment division in June following a strategic review. These further changes continues our move towards smaller, collaborative teams to more effectively pool our investment expertise.
"We are working to create a structure and a culture that gives us clearer focus and an investment process that blends the best of a disciplined approach with flexibility, flair and commerciality.
"We believe that closer alignment between fund managers and analysts leads to a greater sense of combined ownership. Fundamentally, these changes are all about improving performance by getting the best investment ideas into the portfolios faster."
The first part of the restructuring in June followed a strategic review of the equities fund management teams and overseas offices which identified sectors for focus and highlighted areas that would require a change in resource.
The new structure redefines the role and impact of equity analysts and should be in place by the end of November.
US equities appointments
In addition to the equity research team changes, Morley has now hired two new fund managers to manage US equities in London.
Morley has appointed Penny Kyle as head of US Equities and Alex Ingham as US equities fund manager.
Penny joins on 1 November from American Express Asset Management (AEAM) where she managed North American and Global Equity portfolios since 2000. During her four years at AEAM, Penny spent time working in Tokyo and for Threadneedle Asset Management, after it had been acquired by American Express. Prior to this Penny was head of the US Equity team at Groupama Asset Management for 18 months, having started her career at Govett Asset Management in 1993 as a graduate trainee.
Alex will join Morley on 11 November from Aberdeen Asset Management where he has been head of North American Equities for two years, overseeing $2 billion of investments and working with a team of three fund managers. Before this, Alex spent two years as a North American fund manager, managing the Aberdeen North American Unit Trust. Prior to Aberdeen Asset Management, Alex was at Hill Samuel Asset Management where he joined as a graduate in 1997 and progressed to investment manager for American Equities by 2000.
- ends -
For further information please contact:
Fiona Baker, Head of Corporate Communications 020 7809 8617
Morley Fund Management
Notes to Editors
Morley Fund Management
- Morley Fund Management (‘Morley’) is an independently managed, London based, asset management business with over Ł114 billion* under management (as at 30.06.04). 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
**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
Contact us at Morley Fund Management, No. 1 Poultry, London EC2R 8EJ.