Morley Fund Management boosts Overseas Fixed Income Capability

Article date: 20 May 2002

Morley Fund Management (‘Morley’) has appointed ChngGhim Hoon as Head of Fixed Income in its Singapore office andDaniel Fasciano as Head of Fixed Income in its associate office inBoston*. Both will report to London based Peter Rains, Head ofFixed Income and Treasury at Morley, and will be responsible forthe management of local fixed income securities.

Serene Ong has also been appointed as a fixed income fundmanager in Singapore, reporting into Chng Ghim Hoon. In additionDaniel Fasciano will be recruiting further fixed income portfoliomanagers to work with him in Boston.

Morley has been appointed to run S$1.4bn (£520m) of Asian fixedincome by CGNU and the Boston team will be running US$800m (£550m)of US non-government securities. The creation of these positionsreflects the growth of fixed income management within Morley andthe increasing demand for this asset class. The 44 strong Morleyteam currently manages funds worth £43.2bn (€69bn, US$62.9bn)for both retail and institutional investors and is one of thelargest fixed income teams in the UK.

Commenting on the appointments, Peter Rains, Head of FixedIncome at Morley, said: “I am delighted that Morley hasattained such high calibre people in the US and Singapore. Theseappointments represent an important step in developing ourworld-class global fixed income capability. We already have a largeand successful team based in London and the added expertise andlocal knowledge that these appointments bring will expand ourcapability to undertake global fixed income mandates.”

Daniel Fasciano joins from Mellon Financial where he spent fouryears as Director – Taxable Fixed Income having previouslyspent five years as Portfolio Manager – Fixed Income. Priorto joining Mellon Financial he worked for 3 years as a Junior TrustOfficer at The Boston Company (Mellon).

Chng Ghim Hoon joined Morley in February 2002 from the InsuranceCorporation of Singapore (ICS) where she was Head of Investments.Prior to this she was Director of Investments at John Govett/AIBGovett and Senior Investment Manager at DBS Asset Management.

Serene Ong joined with Ghim Hoon from ICS where she was DeputyManager. Prior to this she was an Assistant Investment Manager atIndocam Asset Management and a Senior Investment Analyst at SeyenInvestment.

*Norwich Union Investment Management, a CGNU Group company

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Laura Cook, PR Executive 020 7809 8125

Morley Fund Management

  • The fixed income team at Morley Fund Management has £43.2bn(€69bn) under management managed by 44 fund managers andanalysts based in London, Singapore and Tokyo. In 2001 the teamwon institutional mandates totalling £1.9bn (€3.2bn).
  • Morley Fund Management (‘Morley’) is anindependently managed, London based, asset management businesswith over £107bn (€ 171bn) under management. It hasinvestment management operations in London, Tokyo and Singaporeand an associate office in Boston*.
  • Morley is a wholly owned subsidiary of the CGNU Group andmanages both institutional and retail funds under the Morleybrand. It also acts as investment manager for a range of retailinvestment funds, marketed in the UK under the Norwich Unionbrand.
  • 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.

*Norwich Union Investment Management, a CGNU Group company

Further information about Morley Fund Management can be found atwww.morleyfm.com

Issued by Morley Fund Management Limited.

Morley Fund Management is a business name of Morley FundManagement Limited, registered in England No. 1151805 and MorleyInvestment Services Limited, registered in England No. 1973412.Both are members of the Norwich Union Marketing Group, members ofwhich are regulated by the FSA for life assurance, pensions andinvestments. Morley Investment Services Limited is a member of theInvestment Management Association. Registered Offices: No. 1Poultry, London EC2R 8EJ. Both are CGNU Group companies. Forcorrespondence please contact us at Morley Fund Management, No. 1Poultry, London EC2R 8EJ. MFM/02/540

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