Morley appointed to manage £86.4m fixed income mandate

Article date: 9 April 2002

Morley Fund Management (‘Morley’) has been awardedan £86.4m mandate by MLC. This high performance mandate will besplit between government bonds and corporate bonds, the fundmanagers will be Shahid Ikram, Head of UK Sovereign Products andHedge Funds and Paul Mingay, Head of Corporate Bonds.

The objective of the mandate is to outperform a definedcomposite index by 0.75% per annum over rolling three yearperiods.

MLC is one of the leading fund of fund providers based inAustralia and is wholly owned by the National Australia Bank. MLCare looking to build a significant presence in the UK RetailMarket.

Commenting on their appointment as investment manager, IanWilliams, Head of UK Institutional Sales at Morley, said: "We aredelighted to be working with MLC. The multiple manager structure isbecoming increasingly important in the UK and Europe andwe’re confident that the proven expertise of our fixed incometeam will help MLC to make an impact in this market."

Commenting on the appointment of Morley, Michael Clancy, Head ofInvestment Management at MLC Trust Management, said: "We appointedMorley due to their experienced investment team and disciplinedapproach to the management of government and corporate fixed incomeassets within the UK and abroad. We are looking forward to a longand successful relationship with them.”

For further information please contact

Morley Fund Management
Vicki Rhind, Communications, 020 7809 6128

MLC Trust Management
Tim Pie, Corporate Communications Manager 020 7710 2146

Notes to Editors

  • The fixed income team at Morley has in excess of £42.9bn undermanagement and employs a total of 32 investmentprofessionals.
  • Morley Fund Management (‘Morley’) is anindependently managed, London based, asset management businesswith over £105 billion under management. It has investmentmanagement operations in London, Tokyo and Singapore and anassociate office in Boston*.
  • Morley is a wholly owned subsidiary of the CGNU Group andmanages 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 Unionbrand.
  • CGU plc and Norwich Union plc merged on 30 May 2000 to createCGNU plc, the UK’s largest insurance group and one of thetop-five insurers in Europe with substantial positions in othermarkets around the world, making it the world’s seventhlargest insurer based on gross worldwide premiums.
  • Morley Fund Management is a business name of Morley FundManagement Limited, registered in England No. 1151805. A member ofthe Norwich Union Marketing Group, members of which are regulatedby the FSA for life assurance, pensions and investments.Registered Office 1 Poultry London EC2R 8EJ.
  • Morley Fund Management is also a business name of MorleyInvestment Services Limited. Both are CGNU companies.
  • Telephone calls may be recorded for training and monitoringpurposes.

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