Morley strengthens UK equities team

Article date: 29 March 2006

Morley Fund Management today announced that it had boosted itsUK equities team with the hiring of Chris Murphy to a newly createdfund manager position. The team has also been strengthened by theinternal promotion of fund manager Dan Roberts to manage the UKEquities Income portfolios and the appointment of graduate traineeAlex Wroe to a newly created analyst position.

Tim Thomas, head of equities, said: “We have been carefullyconsidering the expansion of Morley’s UK equity team by therecruitment of additional quality people. The equities market hasbeen rapidly polarising into core, lower-risk products andsatellite, higher-alpha offerings. Morley manages around £27bn inUK equities on behalf of clients, accounting for almost 2% of theUK stock market. As a player of that scale we need to be able tooffer a strong range of credible higher alpha products as well astraditional core products.

“Chris’ appointment reflects the seriousness of ourintentions in the high alpha space. His appointment is a sign ofconfidence in Morley and its future direction and we anticipatemaking further announcements in the coming weeks.”

Morley’s chief investment officer, Katherine Garrett-Cox,said: “Our talent strategy has three core components: activerecruitment, managing existing staff progressively, and advancingquality people from inside. We are pleased that Morley isattracting leading fund managers like Chris Murphy, developingyoung talent such as Alex Wroe and providing new opportunities forquality team members such as Dan Roberts.”

Chris Murphy joins Morley from Axa Framlingtonwhere he has been working as a fund manager since 1993, mostrecently responsible for running growth mandated portfolios forinstitutional and retail clients. Chris previously worked as autilities analyst at James Capel (1990-92) and at Shearson Lehman(1988-90).

Chris has managed the Framlington UK Growth Fund which deliveredfirst quartile performance in 2005 (Standard & Poor’s asat 28-03-06). At Morley he will be managing the Norwich UK EquityFund.

Dan Roberts from Morley’s UK Core team hasmoved to the UK Specialist team as fund manager. He is running theflagship Norwich UK Equity Income Fund.

Alex Wroe, who has been a graduate trainee atMorley since December 2004, has been appointed Analyst for the UKCore team. He is covering the General Retail sector.

Chris and Dan will report to David Lis, head of UK specialistequities. Alex will report to Lloyd Whitworth, head of UK coreequities.

-ends-

For further information please contact:
StrahamWallis
Morley Fund Management
Corporate Communications
Telephone: 020 7803 8618
E-mail: strahan.wallis@morleyfm.com

Beth Saint
Morley Fund Management
Corporate Communications
Telephone: 020 7803 8125
E-mail: beth.saint@morleyfm.com

Notes to Editors:

Morley Fund Management

  • Morley Fund Management Limited is the UK-based asset managementbusiness of Aviva plc. Firms within the Morley group ofcompanies manage £155bn from offices around the world as at 31January 2005.
  • Morley manages both institutional and retail funds under theMorley brand. It also acts as investment manager for a range ofretail investment funds, marketed in the UK under the NorwichUnion brand, and international funds marketed under the AvivaFunds brand.

Awards

  • SRI Provider of the Year, Global Pensions 2006
  • Property Week Awards 2004 – Best Property Fund Manager
  • 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 FundManagement can be found at www.morleyfm.com

Note: telephone calls may be recorded for training and monitoringpurposes.

Morley Fund Management is a business name of Morley Fund ManagementLimited, registered in England No. 1151805. Registered Office: No.1 Poultry, London EC2R 8EJ. Authorised and regulated in the UK bythe Financial Services Authority and a member of the InvestmentManagement Association.

Morley Fund Management is also abusiness name of Morley Fund Services Limited and Morley FundManagement International Limited. All are Aviva companies.

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

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