Morley continues to strengthen UK equities team

Article date: 24 April 2006

  • Mervyn Douglas returns to newly created high alphaposition

Morley Fund Management today announced that it had furtherboosted its UK equities team with the appointment of Mervyn Douglasto a newly created fund manager position. Mervyn rejoins Morleyfrom Legal and General Investment Management (LGIM) and will focuson running retail and institutional high alpha portfolios. Mervynwill commence his new role on 8 May and will report to head of theUK specialist equities team, David Lis.

The team has also recently been strengthened by the appointment ofChris Murphy to a new fund manager role and the internal promotionof fund manager Dan Roberts to manage the UK Equity Incomeportfolios.

Tim Thomas, head of equities, said: “We’re delightedthat Mervyn has chosen to return to Morley to manage a number ofour high alpha portfolios.

“It is further evidence of our intentions in the high alphaspace and shows that Morley is offering attractive opportunities tohigh quality managers in a competitive environment. Mervyn’sappointment also demonstrates the continuing delivery ofincremental improvements across our Equity investmentoperations.

“With around £27 billion in funds under management in UKequities, we need to be able to offer a strong range of crediblehigher alpha products as well as traditional core products.Therefore, we are continuing to expand Morley’s UK equityteam and anticipate making further announcements in the comingweeks,” he said.

Mervyn Douglas joins Morley from LGIM where he has been working asa fund manager since early 2005. He previously worked at Morleyfrom November 2002 and was lead manager on the Norwich UK EquityFund. Prior to Morley, Mervyn was a UK equities fund manager atSchroder Investment Management where he managed a range ofsegregated pension funds.

Mervyn has managed the LGIM Growth Trust Fund which delivered firstdecile performance in 2005*. At Morley he will be co-manager of theNorwich UK Focus Fund with David Lis and will also work on a highalpha fund in Morley’s institutional range.

Chris Murphy joins from Axa Framlington where he has been workingas a fund manager since 1993, most recently responsible for runninggrowth mandated portfolios for institutional and retail clients.Chris has managed the Framlington UK Growth Fund which deliveredfirst quartile performance in 2005*. He joins the firm in earlyJune to run the Norwich UK Equity Fund. Chris previously worked asa utilities analyst at James Capel (1990-92) and at Shearson Lehman(1988-90).

Chris and Mervyn will both report to David Lis.


*Source, S&P's Micropal, % change, offer tooffer basis, GBP. Past performance is not a guide to thefuture.

For further information pleasecontact:
Strahan Wallis 020 7809 8618
Corporate Communications 079 100 444 24
Morley Fund Management

Notes to editors:

Morley Fund Management
Morley Fund ManagementLimited is the UK-based asset management business of Aviva plc.Firms within the Morley group of companies manage £156bn fromoffices around the world as at 28 February 2006.

Morley manages both institutional and retail funds under the Morleybrand. It also acts as investment manager for a range of retailinvestment funds, marketed in the UK under the Norwich Union brand,and international funds marketed under the Aviva Funds brand.


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