Morley Fund Management, one of the UK’s largest fund managers and the UK-based investment arm of Aviva, will launch its first hedge fund managed and invested in Poland, the Central European Long Short Fund.
Morley Fund Management, one of the UK’s largest fund managers and the UK-based investment arm of Aviva, will launch its first hedge fund managed and invested in Poland, the Central European Long Short Fund.
The fund will be managed by Morley’s Warsaw-based investment office, Commercial Union Investment Management Polska (CUIM Polska), which manages €2.1 billion of assets (as of 30 September 2004).
Rafal Janczyk, head of equities at CUIM Polska, will manage the new fund. Rafal currently manages a number of Polish equity funds on behalf of CUIM Polska clients including life funds and mutual funds. The Commercial Union Polish equity mutual fund has delivered an annualised return of 37.4% compared with Warsaw Stock Exchange 20 Index (WIG-20) return of 12.7% since launch in April 2002 (Source: Standard & Poors).
The Central European Long Short fund will initially invest in Polish equities, but may also expand to include investments in other Central European markets. Morley began marketing the Fund in November 2004 for launch in February 2005 and aims to raise €120 million. The fund is open to European institutional investors and high net worth individuals and will be denominated in euros, with shares available for issue in euros, US dollars and pounds.
Commenting on the launch of the Fund, Ian Ainscow, head of international business development at Morley Fund Management, said: "The EU accession earlier this year has resulted in increased investor interest in Central European economies. The launch of the Aviva Funds Central European long short fund allows Morley to offer clients access to the skills we have built in Warsaw in the last seven years.
"We have seen increased demand for alternative investment products and the launch of this fund offers new diversification possibilities to a range of sophisticated investors."
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Past performance is not a guide to the future.
For further information please contact:
Monina Villaroman, corporate communications manager, 020 7809 8618
Morley Fund Management
For sales enquiries please contact:
Charles Hoblyn, head of investment sales, 020 7809 6428
Morley Fund Management, charles.hoblyn@morleyfm.com
Notes to Editors
Morley Fund Management
- Morley Fund Management (‘Morley’) is an independently managed, London based, asset management business with over Ł118 billion* under management (as at 30.09.04). It actively manages a diverse range of asset classes and employs in the region of 700 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