Norwich UK Income Opportunities fund celebrates fifth anniversary

Article date: 5 March 2007

Norwich Union’s UK Income Opportunities fund celebratedits fifth anniversary on 28 February 2007. The fund marked theoccasion with first percentile performance since launch, and iscurrently first in its sector over five years (as at 28 February2007).

The fund’s objective is to provide a consistently high levelof income, with capital growth, through investment in a diversifiedportfolio of UK equities. The fund transferred to Morley FundManagement in June 2006, and was renamed to the Norwich UK IncomeOpportunities fund in September 2006.1
Since its launch In February 2002, the fund has:

  • Achieved first quartile ratings in the IMA UK Equity Incomesector 
  • Been rated first out of 130 funds in the sector
  • Achieved 123.22% growth against a sector average of61.11%.2

Neil Davies, director of marketing investments at Norwich Union,said: “The returns on this fund are great news for ourcustomers and demonstrate our commitment to getting them the bestresults on their investments. We’ve worked hard to widen andimprove our range of funds and this is another sign of the successwe are having as a fund provider.”

Ian Lancaster, manager of the UK Income Opportunities fund, said:“It’s a great achievement for everyone involved thatthe fund has done so well, to get first percentile performancesince launch is a testament to our stock picking methods. We aim tocontinue delivering excellent performance to customers who investwith us.”

Past performance is not a guide to future performance – thevalue of the fund and any income from it can go down as well as upand the investor may not get back what they put in.


Press office contacts:

Norwich Union
James Paterson 01904 452525
Sarah Horner 01904 452828 Out of hours 07800 691569

Morley Fund Management
Strahan Wallis 0207809 8618 Out of hours 07910 044424

Notes to editors:
Performance figures taken from theReuters Lipper Hindsight system

2 Performance figures are net of tax and annualmanagement charge, and do not include the initial charge andTER.

About the fund
The Norwich UK Income Opportunities fundis available as a sub-fund of the Norwich Union ICVC (OEIC).

The fund’s aim is to achieve a consistently high level ofincome, with capital growth, through investment in a diversifiedportfolio of UK equities. These investments will principally, butnot exclusively, represent securities included within recognisedsmall and mid cap indices.

1 The fund was converted from a unit trust to a sub-fundof the Norwich Union ICVC on the 29 January 2007 and was previouslyknown as the Elite MoneyGuru Income with Growth Trust. The fundtransferred to Morley from Progressive Alternative Investments inJune 2006, with its name being changed to the Norwich UK IncomeOpportunities fund as of 29 September 2006.

About the manager
The Norwich UK Income Opportunitiesfund is managed by Ian Lancaster of Morley Fund Management.

About Norwich Union
Norwich Union is the UK’slargest insurer. It is a leading provider of life, pensions andinvestment products and one of the largest financial adviser (FA)providers. FAs provide over 70% of the company's long-term savingsbusiness in the UK.

Norwich Union is the UK’s largest general insurer with amarket share of around 14%, with a focus on insurance forindividuals and small businesses.

Norwich Union’s news releases and a selection of images areavailable from Aviva's internet press centre at

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