Morley Fund Management awarded SRI mandate by UNISON

Article date: 11 September 2003

Morley Fund Management, one of the UK’s largest fundmanagers, has been awarded a £100m socially responsible investment(SRI) mandate by the UNISON Staff Pension Scheme. This is thelargest SRI pension fund mandate awarded in the UK.

The fund will be invested in Global Equities and managed byClare Brook, director of SRI and Peter Michaelis, SRI fund manager,with support from a team of 6 other SRI fund managers and analystsas well as 27 mainstream analysts. The fund’s objective is tooutperform a composite benchmark consisting of mainstream indicesby 1.5% pa over rolling 3 year periods.

Commenting on the mandate win, Paul Moody, head of businessdevelopment - SRI at Morley, said: “We are delighted thatUNISON has recognised the long term value that Morley FundManagement can deliver through investing in a socially responsiblemanner. By measuring the fund against mainstream benchmarks, we aimto prove that it is possible to invest in a socially responsiblemanner without sacrificing performance or compromising values.

“The fact that this is the largest SRI pension fundmandate awarded in the UK demonstrates that there is a growth inthe support for socially responsible investing as a way to balancegood returns with good corporate responsibility.”

Paul Coard, pensions manager at UNISON, said: “Thetrustees of our pension scheme feel that their investment policyshould not unnecessarily clash with the values of the trade unionwhich is our principal employer. We therefore chose Morley to runthis SRI mandate as they presented an investment philosophy whichfits well with the values upheld by our organisation.”

UNISON is the largest trade union in the UK and has almost1.3million members working across the public services.


For further information please contact:
Laura Cook, PR Executive 020 7809 8125
Morley Fund Management

Notes to editors Morley’s SRI team

  • Led by Clare Brook, Morley’s 10 strong SociallyResponsible Investment team is one of the largest and mostexperienced in the UK. The team has grown in reputation andstatus, with members frequently asked for advice by companies,Non-Governmental Organisations (NGOs) and governmentdepartments.
  • Morley’s SRI team manages assets of over £450m,including the Sustainable Futures fund range, which consists ofsix retail investment funds (including a corporate bond fund).They also manage, amongst others, three pooled pension funds and anumber of segregated institutional mandates.

Morley Fund Management

  • Morley Fund Management (‘Morley’) is anindependently managed, London based, asset management businesswith over £112 billion under management (as at 30.06.03). Itactively manages a diverse range of asset classes and employs inthe region of 1000 personnel worldwide based in London, Singaporeand 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 Aviva Funds brands.

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
Pensions Management Provider Awards 2002 – Commended for BestSRI Fund Manager and Best Fixed Income Fund Manager

*Morley Fund Management International Limited, an Avivacompany

Further information about Morley Fund Management can be found

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