Morley strengthens European property capability with two new appointments

Article date: 13 January 2005

Morley Fund Management, one of the UK’slargest fund managers, has boosted the European capability of itsproperty research team by appointing Patrizia Grandone as Europeanproperty researcher and Francesc Fages as property fund analyst.Both report to Nick Mansley, head of property strategy andresearch.

Patrizia joined on 8 December from LaSalle Investment Managementwhere she was southern european analyst. She has an MSc in propertydevelopment and planning and prior to this she was an interiordesign consultant working on various projects across the UK forseven years. At Morley she will be focusing on market research andadvising on specific property investments as well as supporting thedevelopment of new funds.

Francesc joined on 6 December from the London School ofEconomics where he has recently completed an MSc in Real EstateEconomics. He has also undertaken a corporate finance programme atthe London Business School and an MBA at the ESADE business schoolin Barcelona. Previously he worked as an engineer and projectmanager in France and Spain for seven years following anengineering degree from university in Barcelona. At Morley,Francesc will be involved in the fund modelling of European and UKspecialist property funds.

These appointments follow Morley’s announcement in August2004 that it would build on its successful UK property fundmanagement business in continental Europe, investing up to £1billion in continental European Property and actively seek partnersfor new funds. Ben Stirling was appointed as European fund managerto develop new European property funds and manage them. Since thenJulian Taylor has joined the firm as assistant European fundmanager and John Buckley joined to support the top-down assessmentof European markets. These two additional roles boost the Europeansupport and capability within the property strategy team.

Commenting on the appointments, Nick Mansley, head of propertystrategy and research, said: "The addition of Patrizia and Francescto the team strengthens our research and analysis capability forcontinental European property. Our key priorities for newinvestment are in the main western and southern European marketsand Patrizia and Francesc will support our activity and ability towork with partners in these markets."

Within Europe, Morley launched the Parkridge EuropeanDistribution Fund in September 2004 which invests in distributionwarehousing in central Europe. Last month it agreed to invest€100m and be actively involved in the management ofPillar’s European Retail Park Fund.


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

Notes to Editors
Morley Property

  • The property team at Morley Fund Management manages in excessof £14 billion of UK and European Property assets, making Morleyone of the largest property fund managers in Europe. Winners ofthe high profile Property Week Fund Manager of the Year Award2004, the team consists of 50 investment professionals managing arange of funds, including segregated and pooled pensions, tworetail unit trusts, and eleven specialist sector based funds withpartners.

Morley Fund Management

  • Morley Fund Management (‘Morley’) is anindependently managed, London based, asset management businesswith over £118 billion* under management (as at 30.09.04). Itactively manages a diverse range of asset classes and employs inthe region of 200 investment professionals based in London,Singapore 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 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 foundat

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