Sterling share class launch for Aviva Alternative Funds - Alpha Optimum, fund of hedge funds

Article date: 4 October 2004

Aviva Alternative Funds, the Luxembourg-based SICAV of MorleyFund Management, has launched a sterling share class for itssuccessful sub-fund - Alpha Optimum Fund. The new share class willhedge-out all non-sterling currency exposure.

Following the recent one-year anniversary of the AvivaAlternative Funds - Alpha Optimum Fund, which saw the fund postingits twelfth successive positive monthly return, Morley is nowmarketing the Fund to UK institutional and retail clients.

As part of the Aviva Alternative Funds umbrella, the AlphaOptimum Fund is managed by Benchmark Plus, a US-based specialistfund of hedge fund manager. Benchmark Plus has an impressive trackrecord in the US of producing demonstrable alpha with zero betaversus equity or fixed income markets.

Commenting on the Aviva Alternative Funds - Alpha Optimum fundof hedge funds, Neil Smith, head of alternative investment atMorley Fund Management, said: "We’ve had considerableinterest from UK pension funds and consultants for the AlphaOptimum Fund as they look for new sources of alpha to help themmatch the needs of their funds.

"This product has the benefit of being truly market neutral, notcorrelated to the equity or fixed interest markets.

"We believe we have a top performing fund and we have launchedthe sterling share class in direct response to the needs of ourclients."

Minimum investment into the new sterling share class, launchedon 30 September 2004, will be £15,000 for the private share classand £600,000 for the institutional class. To the end of August2004, the fund has returned 7.6% since its launch on 30 June 2003,a period during which most hedge funds have suffered. (Totalreturn from inception to end August. Source: Lipper)


For further information please contact:
Morley FundManagement, Corporate Communications
Fiona Baker 020 7809 8617
Monina Villaroman 020 7809 8618

Notes to editors
Morley Fund Management

  • Morley Fund Management (‘Morley’) is anindependently managed, London based, asset management businesswith over £114 billion* under management (as at 30.06.04). Itactively manages a diverse range of asset classes and employs inthe region of 900 staff worldwide based in London, Singapore andan 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 brand.

*Not including mortgage assets
**Morley Fund Management International Limited, an Avivacompany


  • Property Week Awards 2004 – Best Property FundManager
  • Pensions Management Provider Awards 2003 – Best PropertyFund Manager
  • 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

Further information about Morley Fund Management can be found

Contact us at Morley Fund Management, No. 1 Poultry, London EC2R8EJ.

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