Morley adds to SRI team

Article date: 26 October 2006

Morley Fund Management, home to one of Europe’s leadingSRI teams, announces the appointment of fund manager Derek Lygo andanalyst Claire Harrold to its Socially Responsible Investment team,as funds under management in the SRI fund range exceed £1 billion(€1.49 billion)*.

Derek Lygo joins Morley in October to manage the SRI Long ShortCell of the Morley Alternative Investment Strategy fund. He willreport to Peter Michaelis, head of SRI.

Claire Harrold also joins in October as an analyst focusingspecifically on the pharmaceuticals, biotechnology, healthcare,retailers, beverages, tobacco and property sectors and will reportto Ronnie Lim, head of SRI research.

These hires follow the recent appointment of Dr Steve Waygood,chair of the UK Social Investment Forum, to Morley’s SRIteam. He joins in November in the newly created role of head of SRIengagement. Steve will implement Morley’s SRI engagement andvoting program and work closely with the corporate governance teamto coordinate all environmental, social and governancevoting.

Morley Fund Management’s head of SRI Dr Peter Michaelis saidDerek and Claire’s appointments position Morley to capitaliseon the increasing number of SRI opportunities arising in themarket.

“We have two clear goals within our SRI team: deliveringstrong investment performance and growing our funds undermanagement.

“Since 2001, we have successfully grown our funds undermanagement from zero to £1 billion. We have a great track record inmanaging a broad range of SRI funds and the appointment of highcalibre individuals like Derek, Claire and Steve is proof of ourcommitment to delivering strong performance.

“We are positioned well to benefit from the strong trendsarising from sustainable development and I am confident these willbe reinforced as environmental and social pressures become moreapparent,” he said.

Derek joins Morley from CQS LLP where he launched thecompany’s first Absolute Return Equity Fund achieving +30%performance in the first year. Prior to this, he was head of UKequities at First State Investments. He also worked for DresdnerGlobal Investors as investment director – European equities.He has more than 20 years investment management experience.

Claire joins Morley from Citigroup Investment Research where shewas a research assistant focusing on SRI. Before this she worked asa commercial property analyst for Jones Lang LaSalle.

Firms within the Morley group of companies manage in excess of £162billion (€239 billion)** with more than £1 billion in activeSRI equity and bond mandates. Morley was also recently appointedone of five fund managers for FRR’s €600 million SRImandate.

Morley was ranked the number one fund manager for its understandingof Socially Responsible Investing (SRI) and Extra-Financial Issuesin the latest Thomson Extel SRI and Extra-Financial Survey releasedearlier this year.

-ends-

* as at 20 October 2006
** as at 30 September 2006

For more information contact:
BethSaint
Corporate Communications
Telephone: 020 78098125
Morley Fund Management

Notes to editors:

MorleyFund Management
Morley Fund Management Limited is the UK-based asset managementbusiness of Aviva plc. Firms within the Morley group of companiesmanage £162billon (€239 billion) from offices around theworld as at 30 September 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.

Awards

  • Property Fund Manager of the Year, Pensions Management Awards2006
  • Best Commitment to Raising Standards of Trustee Education,Engaged Investor Awards 2006
  • Property Fund Manager of the Year, Property Week Awards2006
  • SRI Provider of the Year, Global Pensions 2006
  • Central European Property Awards 2005 - Outstanding Company ofthe Year & Investor of the Year
  • UK Pensions Awards 2005 – Property Manager of theYear
  • 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

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

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