The Norwich Distribution Fund has been awarded an ‘A’ rating from Standard & Poor’s Fund Rating Service. The £78m fund is managed by Roger Webb and Scott McKenzie of Morley Fund Management.
The Norwich Distribution Fund has been awarded an ‘A’ rating from Standard & Poor’s Fund Rating Service. The Ł78m fund is managed by Roger Webb and Scott McKenzie of Morley Fund Management.
The Norwich Distribution Fund is invested 60% in corporate bonds and 40% in UK equities and aims to provide a high and growing level of income with prospects for long term capital appreciation. To the end February 2005, the Fund had outperformed its sector over 1, 3, 5 and 10 years*.
Commenting on the fund rating, Katherine Garrett-Cox, chief investment officer at Morley Fund Management, said: "This award is great testament to our strengths in managing both equities and fixed income assets. Standard & Poor’s were particularly impressed by the Distribution Fund’s well thought out process and depth of resources."
Neil Davies, head of investment at Norwich Union, said: "This is good news and recognises the strength of the Norwich Distribution Fund. The Distribution Fund can be a good option for cautious investors because it invests in a mix of assets and aims to provide an attractive income with the prospect for capital and income growth in the future delivered through a highly diversified portfolio to reduce volatility exposure."
*Source: Lipper Hindsight, Calculation Basis: NAV to NAV, net income re-invested XD date
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For further information please contact:
Laura Cook, corporate communications executive, 020 7809 8125
Morley Fund Management Laura.cook@morleyfm.com
David Gwyer, media relations manager, 01904 452828
Norwich Union david.gwyer@norwich-union-life.co.uk
Norwich Distribution Fund
Fund Managers: Roger Webb (Fixed Income) and Scott McKenzie (UK Equities)
Fund Size: Ł78.4m
Initial Charge: 4%
AMC: 1.25%
IMA Sector: Cautious Managed
For fund Information, dealing and administration call 0800 587 4563
Morley Fund Management
- Morley Fund Management (‘Morley’) is an independently managed, London based, asset management business with over Ł128 billion* under management (as at 31.12.04). It actively manages a diverse range of asset classes and employs in the region of 200 investment professionals 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