Morley Fund Management expands in Singapore

Article date: 20 November 2001

Awarded Enhanced Fund Manager (EFM) Incentive

EFM status will augur well for Morley’s expansion plansin the Asia Pacific and Singapore

Morley Fund Management Singapore (Morley Singapore) a subsidiaryof Morley Fund Management is pleased to announce that it has beenawarded the status of Enhanced Fund Manager (EFM) by the MonetaryAuthority of Singapore (MAS)

Steven Choy, CEO of Morley Singapore, is delighted with the goodnews and sees it as an endorsement of the company’sinvestment management capabilities and performance standards. Healso commented enthusiastically that the new status recognises thegroup’s continued expansion in Singapore over the last fiveyears.

“Attaining the EFM status is a milestone that marks ourcontinued commitment to the local fund management arena. Leveragingour experience and success in Singapore, we aim to extend theMorley brand and our trademark of excellence to other parts of theAsian fund management fraternity. The new status opens the door topotentially exciting opportunities and tangible business rewardsfor the group and gives us additional ammunition to press aheadwith our objective of strengthening our market penetration in theregion,” he enthused.

Morley’s newly-appointed Managing Director(International), Malcolm Le May, says he is optimistic that the EFMstatus will help Morley Singapore to achieve its goal to establishMorley as one of the top-five fund management brands in the AsiaPacific market.

He commented: “While the global economic downturn willinevitably lead to a pause for thought in the short-term, wecontinue to take the long-term view that Asia offers greatpotential in the next wave of growth. As our largest Asian office,we remain committed to growing our business in Singapore andextending our presence throughout the Region. Enhanced Fund ManagerStatus will no doubt allow us to build on the foundations alreadylaid in the last year and to fulfil our global ambitions of makingour Singaporean presence a key part of building a world class fundmanagement company.”

Based in the group’s regional headquarters, MorleySingapore has a strategic role to play in the group’s globalexpansion blueprint. To date, Morley Singapore manages Asia Pacificequity portfolios totalling almost S$4.1 billion (as at end October2001) for both institutional and retail investors around theworld.

For further information contact:

Morley Fund Management (Singapore)
Steven Choy, Chief Executive Officer, Singapore + 65 232 5086

Morley Fund Management (London)
Malcolm Le May, Managing Director International 020 7809 8100
Laura Cook, PR Executive 020 7809 8125

Scotchbrook – BSMG Worldwide (Singapore)
Joanne Chong, Consultant + 65 235 3121

Notes to Editors

Morley Fund Management has had an office in Singapore since1992. Morley has made Singapore its base for Asian investmentmanagement and business development since that date.

In July 2001 Morley appointed a new Managing Director(International), Malcolm Le May, to oversee all of Morley’sactivities outside of Europe.

Morley Fund Management (Singapore) Ltd earlier this yearappointed a new Chief Executive Officer, Steven Choy, as wellrecruiting a number of senior investment staff.

Morley Fund Management is an independently managed, Londonbased, asset management business with £100 billion undermanagement. It has investment management operations in London,Boston, Tokyo and Singapore.

Morley is a wholly owned subsidiary of the CGNU Group andmanages both institutional and retail funds under the Morley brand.It also acts as investment manager for a range of retail investmentfunds, marketed in the UK under the Norwich Union brand.

CGU plc and Norwich Union plc merged on 30 May 2000 to createCGNU plc, the UK’s largest insurance group and one of thetop-five insurers in Europe with substantial positions in othermarkets around the world, making it the world’s seventhlargest insurer based on gross worldwide premiums.

Issued by Morley Fund Management.

Morley Fund Management is a business name of Morley FundManagement Limited (incorporated in England with Registered No.1151805 and Registered Office 1 Poultry London EC2R 8EJ) andNorwich Union Investment Management Limited (incorporated inEngland with Registered No. 2152949 and Registered Office 8 SurreyStreet Norwich NR1 3NG) both regulated by IMRO and members of theCGNU Group

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