£2bn funds growth drives new property hires at Morley

Article date: 11 May 2006

  • Life Funds team appoints three new assetmanagers

Morley Fund Management, the largest property fund manager in theUK and Europe* appointed three new asset managers on the back ofcontinued strong growth, £2 billion inflow in first quarter.

Barry Hill, Justin Brand and Henry Richardson have all beenrecruited as asset managers while Morley has taken in an extra £2billion in property funds under management for the first quarter of2006.

Richard Jones, head of life funds for Morley FundManagement’s property team, said: “With record propertyfund inflows and ambitious plans for continued growth, we arepleased to have recruited three Asset Managers of such highcalibre. They will be looking to add immediate value to theproperties for which they have responsibility, and actively managethem for ongoing future value.

“We have had another active quarter, having committed to thenext phase of office development at Paddington Central andChesterford Research Park in Cambridge, and having agreed terms ona number of other opportunities that we believe have immediatepotential to generate additional value for ourinvestors.”

Barry Hill will specialise in the out-of-town retail andleisure sectors, managing properties in the life funds, includingretail parks in Reading, Milton Keynes, Nottingham and London. Hewas previously Associate Director at Arlington PropertyInvestors.

Justin Brand will focus on the industrial sector managingthe life funds’ major holdings in Reading, Chessington andLondon together with developments in Enfield, Dagenham and Reading.He joins Morley from LaSalle Investment Management, where hemanaged a range of funds.

Henry Richardson will be managing the life funds’office holdings in the West End of London, including developmentsin Grosvenor Street, Maddox Street and North Audley Street in theheart of the West End, together with existing holdings in BerkeleySquare and the new office location created by Morley at PaddingtonCentral. Henry joins Morley from Jones Lang La Salle’s WestEnd Investment Department.

All three are chartered surveyors and hold BSc (Hons).

-ends-

More photographs available on request
*OxfordProperty Consultants, December 2005.

For further information please contact:
ElizabethSaint
Corporate Communications
Morley Fund Management  
Telephone: 020 7809 8125

Notes toeditors:

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. The property teammanages in excess of £23 billion of UK and European propertyassets, making Morley the largest property fund manager inEurope.

Awards

  • 2006, Property Fund Manager of the Year, Property WeekAwards
  • 2006, Outstanding Company of the Year Award, CEE Real EstateQuality Awards 
  • 2006, Investor of the Year Award, CEE Real Estate QualityAwards 
  • 2005, UK Pensions Awards Property Fund Manager of theYear 
  • 2004, Property Week Fund Manager of the Year Award

The property team consists of over 70 investment professionalsand manages a range of funds on behalf of institutional, pensionand retail clients. Morley has been at the forefront of innovationin property fund management and has launched eleven specialistsector based funds with partners, including the Jersey-based UnitTrusts: Igloo Regeneration Fund, Quercus Healthcare Property, TheJunction and The Mall.

Further information about Morley Fund Management can be found atwww.morleyfm.com

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