Morley wins balanced mandate from Nationwide

Article date: 4 November 2002

Morley Fund Management (‘Morley’) has been appointedto manage a £200 million (€320 million) balanced mandate forNationwide Investment Group. This makes Morley the exclusivemanager of the Nationwide Balanced Fund (unit trust) from 1 October2002.

Morley was chosen for its expertise in asset allocation as wellas its stock selection resources. Asset allocation is of paramountimportance to a fund of this nature and Morley’s top-downapproach is expected to continue to contribute toout-performance.

Morley’s experienced strategy and economics team decidesthe top-down asset allocation based on a model portfolio which isgenerally split: 50% UK equities, 35% overseas equities and 15%fixed interest. On a bottom-up level, Morley’s offices inLondon and overseas provide local expertise to identify the rightstock-picking opportunities. The investment process is overseen byGerald Holtham, Chief Investment Officer.

Malcolm Le May, Deputy CEO and Managing Director, Europe atMorley Fund Management, said: “We are delighted that Morleyhas been selected for this mandate from Nationwide InvestmentGroup. The appointment recognises our asset allocation skills whichallow Morley to add value relative to the benchmark and on top oftraditional stock picking returns. This is a significant piece of‘white label’ business for us and builds on ourstrategy to develop new third party wholesale/retail businessoutside the traditional Aviva family of funds marketed under theNorwich Union brand.”

Mark Jenkins, Managing Director at Nationwide Investment Group,said: “We chose Morley because of their strength in assetallocation and the global reach of their fund management team.Morley’s size, experience and expertise, which have alreadybeen used with great success by major pension schemes, are now alsoavailable to individual Nationwide customers through investment inour Balanced Fund. We look forward to a successful relationshipwith Morley.”

Morley joins a roster of four other fund managers responsiblefor managing Nationwide’s range of unit trusts on behalf ofretail investors.


For further information please contact: Fiona Baker, Headof Corporate Communications 0207 809 8617

Notes to Editors

Morley Fund Management

  • Morley Fund Management (‘Morley’) is anindependently managed, London based, asset management businesswith over €166 billion (£104 bn) under management (as at30.06.02). It actively manages a diverse range of asset classesand has investment management operations in London, Tokyo andSingapore and an associate office in Boston*.
  • Morley is a wholly owned subsidiary of the Aviva 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 by Norwich Union, andinternational funds marketed under the Privilege Portfoliobrand.


Fund Manager of the Year - Pensions Week Awards 2002
Specialist Manager of the Year - UK Pensions Awards 2002
Insurance Fund Manager of the Year (awarded to Norwich Union) -Standard and Poor’s 2002
Sustainable and Ethical Investment and Asset Management Award -Liveable City Awards 2002

*Norwich Union Investment Management, an Aviva Group company

  • Further information about Morley Fund Management can be foundat

Issued by Morley Fund Management Limited and Morley InvestmentServices 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 in the UK by the Financial Services Authorityfor life assurance, pensions and investments. Morley InvestmentServices Limited is a member of the Investment ManagementAssociation. Registered Offices: No. 1 Poultry, London EC2R 8EJ.Both are Aviva companies.

For institutional correspondence please contact us at MorleyFund Management, No 1 Poultry, London EC2R 8EJ, for retailcorrespondence please contact us at Morley Fund Management, PO Box6056, Basildon SS15 5UU.

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