Morley appointed to manage $100m global equity mandate for FIA Foundation for the Automobile & Society

Article date: 25 March 2002

Morley Fund Management (‘Morley’) has been appointedto manage a $100m global equity mandate for the FIA Foundation forthe Automobile & Society (“FIA Foundation”).

The objective of the mandate is to outperform the MSCI WorldIndex over rolling three-year periods. The mandate requires aconcentrated, low turnover portfolio that will be run on thematic,growth-orientated lines. This is the first institutional segregatedmandate to be run by Michael Jennings, Head of Global Equities,since he joined Morley in October 2001.

Michael is currently building a Global Equity team to work withhim on global investment portfolios organised by theme. He launcheda Global Equity Themed retail fund in January 2002, having alreadylaunched a Global Equity Pooled Pension Fund (through Morley PooledPensions Limited) in October last year.

Commenting on the appointment Gerald Holtham, CIO at Morley,said: “We are delighted to be appointed to manage thismandate for such a high profile organisation. This portfolio willbe run on a thematic basis, a recent addition to our range,demonstrating our commitment to provide innovative products.Michael is well regarded in the industry for his ability to manageGlobal Equities on a thematic basis and we look forward to a longand successful working relationship with the FIAFoundation.”

Commenting on the appointment of Morley as investment managers,David Ward, Director General of the FIA Foundation said: “Weselected Morley for this particular mandate because the thematiclow-turnover approach made a compelling investment case.”


For further information please contact:

Morley Fund Management
Vicki Rhind, Communications 020 7809 6128

FIA Foundation for the Automobile & Society
David Ward, Director General 020 7581 4181

Notes to Editors

  • The FIA Foundation for the Automobile & Society is an UKregistered charity endowed by, but distinct from, the FederationInternationale De L’Automobile, a non-profit organisationregistered in France.
  • Morley Fund Management (‘Morley’) is anindependently managed, London based, asset management businesswith over £100 billion under management. It has investmentmanagement operations in London, Tokyo and Singapore and anassociate 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 Groupcompany

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) regulatedby FSA and a member of the CGNU Group.

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