Morley today launched its UK Equity Long/Short hedge fund (UKELS) to be managed by recently recruited high alpha fund managers Ian Lancaster and James Follows.
Morley today launched its UK Equity Long/Short hedge fund (UKELS) to be managed by recently recruited high alpha fund managers Ian Lancaster and James Follows. Two of seven recent recruits to Morley's equities team, Ian and James were hired to continue managing their fund which was recently re-branded as the Norwich UK Income Opportunities Fund** and to develop a long/short hedge fund, capitalising on their previous success in both these product areas.
Morley's head of equities, Niall Paul, said: "We are increasingly looking at growing our absolute return product offering. The Morley UKELS Fund, is part of this and with Ian and James in place, I am convinced we will capitalise on the skills of a strong team with a proven track record and robust process to achieve this."
Fund manager, Ian Lancaster, said: "The Morley UK Equities Long Short hedge fund is a natural extension of the long-only space. The aim of the fund is to deliver an absolute return to investors with significantly lower volatility than the FTSE All Share Index by taking long and short positions in UK listed equities*. The focus will be on small and mid cap stocks and we will also invest selectively in the large cap sector."
Ian and James run a rigorous and structured investment process combining both fundamental research and a proprietary quantitative analysis and valuation model.
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The UKELS Fund will be marketed to institutional investors.
** Since its launch In February 2002, the Morley managed Norwich UK Income Opportunities Fund has:
- Achieved first quartile ratings in the IMA UK Equity Income sector
- Been rated first out of 130 funds in the sector
- Achieved 123.22% growth against a sector average of 61.11%1.
For more please contact:
Strahan Wallis Morley
Corporate Communications Manager
Direct +44 (0)20 7809 8618
Mobile +44 (0)7872 829153
Fax +44 (0)20 7332 9185
Switchboard +44 (0)20 7809 6000
Web www.morleyfm.com
E-mail strahan.wallis@morleyfm.com
Notes to editors:
Morley Morley Fund Management Limited is the UK-based asset management business of Aviva plc. Firms within the Morley group of companies manage Ł165 billion from offices around the world as at 15 February 2007.
Morley manages both institutional and retail funds. It also acts as investment manager for a range of retail investment funds, marketed in the UK under the Norwich Union brand and in Europe under the Aviva brand.
Awards
- Equity End User of the Year – Derivatives Week DEAL Awards 2006
- Property Fund Manager of the Year, Pensions Management Awards 2006
- Best Commitment to Raising Standards of Trustee Education, Engaged Investor Awards 2006
- Property Fund Manager of the Year, Property Week Awards 2006
- SRI Provider of the Year, Global Pensions 2006
- Central European Property Awards 2005 - Outstanding Company of the Year & Investor of the Year
- UK Pensions Awards 2005 – Property Manager of the Year
- Property Week Awards 2004 – Best Property Fund Manager