Italy: Aviva funds change name - Morley-managed SICAV becomes Aviva Morley

Article date: 2 April 2007

Morley, major fund management company and part of the Aviva group, operating in Italy and domiciled in Milan, has announced the name change to Luxembourg-domiciled SICAV Aviva funds in Aviva Morley.

The decision to adopt the name Aviva Morley reflects the fact that Morley is responsible for the investment management for the funds in question, and helps to make it easier to recognise the link between SICAV and Morley funds, with the objective of greater visibility in the market.

The change of name has been accompanied by a major reorganisation of all the Aviva Morley SICAV capabilities, as a response to the European Investors' changes in demands and the radical changes over the last few years in the markets of the old continent, particularly following the introduction of the UCITS III European Directive. In addition, Morley has added new equity classes to better satisfy the demands of the investors.

"The new Aviva Morley SICAV capabilities," explained Adam Lessing, head of European business development. "Are based on the incorporation in investment objectives of existing funds with the flexibility of the new UCITS III rules."

Morley boasts total managed assets worldwide of €246bn, and today the Aviva Morley SICAV has 25 funds.

During 2006, sales on the Italian market of SICAV funds managed by Morley exceeded €450m, higher than total sales for 2005.


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Notes to editors:

Morley Fund Management, with head offices based in London, is the Fund Management Company of the Aviva Group that manages €246 billion worldwide, as of 31 December 2006.

Morley manages funds for both institutional and retail clients. The company operates as investment manager for a range of funds for retail investors, distributed in the UK under the Norwich Union brand, and international funds under the Aviva Morley brand name.


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