Management of the Norwich UK Growth has moved to Morley's Chris Murphy from David Lis. Chris Murphy has an excellent record and experience of managing assets with a mid-cap bias.
- Chris Murphy takes on stewardship of Norwich UK Growth Fund
- Richard Colwell appointed to Norwich Income & Growth Fund
Management of the Norwich UK Growth has moved to Morley's Chris Murphy from David Lis. Chris Murphy has an excellent record and experience of managing assets with a mid-cap bias. The management strategy of the fund under Chris Murphy will remain to create growth but with lower exposure to traditional growth sectors such as biotechnology. Instead the fund will have a mid-cap bias and focus on cash flow and value creation to deliver stock performance.
Morley's Richard Colwell will take on management of the Norwich Income & Growth Fund, previously run by Chris Murphy. The broad strategy on this fund will remain the same but Richard will focus on a more concentrated portfolio of stocks with greater exposure to the FTSE 250. Richard will consider potential investments in a way similar to that of a "Private Equity" investor looking for value creation. Richard joined the Norwich Union UK Equities team earlier this year from CSFB, where he managed a variety of retail and institutional assets including and Income & Growth product which achieved an "AA" Citywire rating.
The changes in fund managers are effective from 1 July 2007. Both of the Norwich Union funds are managed by Morley.
-ends-
Press office contacts:
Morley
Elizabeth Saint
020 7809 8125
Norwich Union
Lucy Grubb
020 7662 3624
Notes to editors:
The value of investments can go down as well as up, and you may not get back your original investment.
About the Norwich UK Growth Fund
Launched on the 28 February 2003, the objective of the Norwich UK Growth Fund is to provide long term capital appreciation through investment principally in UK equities based on price and prospects of above average earnings growth. The fund may invest in any of the following financial instruments in order to achieve its investment objective: transferable securities, money market instruments, units in collective investment schemes, deposits and derivatives and forward transactions.
About the Norwich Income & Growth Fund
The objective of the Norwich UK Income & Growth Fund is to provide long term capital appreciation and income through diversified investment within the UK equity market. Individual security selections will be based on price and long term total return prospects. The fund may invest in any of the following financial instruments in order to achieve its investment objective: transferable securities, money market instruments, units in collective investment schemes, deposits and derivatives and forward transactions.
Chris Murphy biography
Chris joined Morley in June 2006. Chris previously worked as a fund manager at Framlington Investment Management, managing first income and then growth portfolios, concentrating on retail funds. Prior to this, he was a UK equity analyst at James Capel and a graduate UK equity analyst at Lehman Bros. Chris holds a BSc (Hons) in Physics from University College, Cardiff and is an associate member of the IIMR.
Richard Colwell biography
Richard joined Morley in January 2007. Previously, he worked as a fund manager at Credit Suisse Asset Management from 2002. He had responsibility for a range of institutional pension funds, the Sun Life of Canada closed funds, as well as retail portfolios. Richard started his investment career at Schroders, where he was a portfolio manager for five years, having begun as a pharmaceutical analyst. He joined the industry from the Bank of England. He holds a BA (Hons) in Banking & Finance and is an associate member of both the IIMR and CIB.
About Norwich Union
Norwich Union is the UK's largest insurer. It is a leading provider of life, pensions and investment products and one of the largest financial adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.
Norwich Union's news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media.
About Morley
Morley is the UK-based asset management business of Aviva plc. Firms within the Morley group of companies manage £168bn (€250bn) from offices around the world as at 30 June 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 Morley name.
The property team manages in excess of £32bn (€48bn) of UK and European property assets.
Awards
- Morley ranks no 1 fund manager in the Thomson Extel SRI Survey, 2007
- Property Manager of the Year, UK Pensions Awards 2007
- Morley's G7 Fund awarded Fixed Income Hedge Fund of the Year, Eurohedge
Awards 2007
- 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