Top new recruits to manage fund in growing alternatives business

Article date: 19 March 2007

Morley today launched its UK Equity Long/Short hedge fund(UKELS) to be managed by recently recruited high alpha fundmanagers Ian Lancaster and James Follows. Two of seven recentrecruits to Morley's equities team, Ian and James were hired tocontinue managing their fund which was recently re-branded as theNorwich UK Income Opportunities Fund** and to develop a long/shorthedge fund, capitalising on their previous success in both theseproduct areas.

Morley's head of equities, Niall Paul, said: "We are increasinglylooking at growing our absolute return product offering. The MorleyUKELS Fund, is part of this and with Ian and James in place, I amconvinced we will capitalise on the skills of a strong team with aproven track record and robust process to achieve this."

Fund manager, Ian Lancaster, said: "The Morley UK Equities LongShort hedge fund is a natural extension of the long-only space. Theaim of the fund is to deliver an absolute return to investors withsignificantly lower volatility than the FTSE All Share Index bytaking long and short positions in UK listed equities*. The focuswill be on small and mid cap stocks and we will also investselectively in the large cap sector."

Ian and James run a rigorous and structured investment processcombining both fundamental research and a proprietary quantitativeanalysis and valuation model.


The UKELS Fund will be marketed to institutionalinvestors.

** Since its launch In February 2002, the Morley managed Norwich UKIncome Opportunities 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%1.

For more please contact:
Strahan WallisMorley
Corporate Communications Manager
Direct +44 (0)20 7809 8618
Mobile +44 (0)7872 829153
Fax +44 (0)20 7332 9185
Switchboard +44 (0)20 7809 6000

Notes to editors:
Morley Morley FundManagement Limited is the UK-based asset management business ofAviva plc. Firms within the Morley group of companies manage £165billion from offices around the world as at 15 February 2007.

Morley manages both institutional and retail funds. It also acts asinvestment manager for a range of retail investment funds, marketedin the UK under the Norwich Union brand and in Europe under theAviva brand.


  • Equity End User of the Year – Derivatives WeekDEAL Awards 2006
  • 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

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