Article date: 1 February 2008
Morley's G7 Fixed Income Fund won the Fixed Income Hedge Fund of the year award at the EuroHedge Awards ceremony on 24 January, winning the title for a second year running.
The G7 Fixed Income Fund, a sub-fund of a Guernsey-domiciled protected cell company, won with a return to investors of 12.27%* and a Sharpe ratio** of 2.76 for the 2007 calendar year.
Morley's deputy head of alternative business development, Philip Pearson, said: "In a very difficult year for fixed income this is a great achievement for the fund's manager Shahid Ikram and his team against a list of tough competitors.
"This win underlines Morley's focused strategy of growing its alternatives business and delivering value and performance to our investors. It will provide a firm basis for extending the range of products we offer to our clients."
The awards have strict criteria that best reflect the industry's twin objectives of high returns and superior risk management. The fund was commended for consistency of returns in an exceptionally difficult period for this strategy.
* The calculation performance basis is the change in the price of the G7 Tranche 1 USD class, series 1 share between the 31/12/06 and 31/12/07, net of fees.
**The Sharpe ratio is a widely used measure of risk-adjusted returns. The higher the Sharpe ratio, the greater an investment's return per unit of risk.
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Notes to editors:
G7 Fixed Income Fund
The G7 Fixed Income Fund is an unregulated collective investment scheme for the purpose of the UK Financial Services and Markets Act. This press release is therefore intended only for those to whom the scheme can be promoted under the Act. As this is an unregulated collective investment scheme all or most of the protections provided by the UK regulatory system do not apply and compensation under the Financial Services Compensation Scheme will not be available.
The content of this press release should not be viewed as an offer or solicitation to subscribe for shares or units of the fund by anyone in any jurisdiction in which such offer or solicitation is not lawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.
Past performance is not a guide to the future. The value of an investment and any income from it can go down as well as up. Investors may not get back the original amount invested.
Morley is the UK-based asset management business of Aviva plc. Firms within the Morley group of companies manage £164bn (€223bn) from offices around the world as at 31 December 2007.
Morley manages both institutional and retail funds. It also acts as investment manager for a range of retail investment funds, marketed in the UK under the Norwich Union brand and in Europe under the Morley name.
The property team manages in excess of £31bn (€43bn) of UK and European property assets.
- Morley's G7 Fund awarded Fixed Income Hedge Fund of the Year, Eurohedge Awards 2007
- Best Property Manager - Financial News Excellence in Institutional Management Awards, Europe 2007
- Morley ranks no.1 fund manager in the Thomson Extel SRI Survey, 2007
- Property Manager of the Year, UK Pensions Awards 2007
- Morley's G7 Fund awarded Fixed Income Hedge Fund of the Year, Eurohedge Awards 2006
- Equity End User of the Year - Derivatives Week DEAL Awards 2006
- Property Fund Manager of the Year, Pensions Management Awards 2006
- Best Commitment to Raising Standards of Trustee Education, Engaged Investor Awards 2006
- Property Fund Manager of the Year, Property Week Awards 2006
- SRI Provider of the Year, Global Pensions 2006
- Central European Property Awards 2005 - Outstanding Company of the Year & Investor of the Year
- UK Pensions Awards 2005 - Property Manager of the Year
- Aviva is the leading provider of life and pensions to Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2006.
- Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of £41.5 billion and assets under management of £364 billion at 31 December 2006.
- The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive.