UK equity team revamp raises Morley to full strength

Article date: 6 August 2004

Morley Fund Management, one of the UK’s largest fundmanagers with £111 billion under management, has completed therevamp of its UK equity team with the appointment of two new fundmanagers.

The UK equities team is now at full strength with the additionof two leading investment professionals to its core team:

  • Martin Cawthorne was a founding director of Threadneedle and asenior member of the UK equity team where he managed institutionalportfolios and was responsible for £4 billion of assets. Martinwas appointed in July to manage Morley’s UK institutionalequity portfolios, particularly the pooled pension funds. Hebrings 19 years of investment experience from Threadneedle andAllied Dunbar.
  • Lloyd Whitworth was appointed in June to manage unit-linkedlife funds. He joins Morley from JP Morgan Investment Managementwhere he was a UK and pan-European fund manager. He brings 13years of experience in UK equities from companies includingDresdner RCM and Allied Dunbar.

Since Katherine Garrett-Cox became chief investment officer inMarch this year, Morley has restructured and strengthened itsequity operations to complement its highly rated fixed income andproperty teams.

The UK equity team, which manages £25.5 billion of funds forinstitutional, retail and life clients, was split into two teams toimprove focus on delivering better investment performance forclients.

The UK core team manages the active components of thewith-profits and unit-linked life funds on a satellite basis,capitalising on different fund manager styles – primarilygrowth and value.

The UK specialist & smaller companies team, which is led bysenior Morley fund manager, David Lis, uses higher outperformancetargets and focuses on the life cycle of companies – seekingout smaller companies, which achieve exponential growth to becomelarger companies.

Katherine Garrett-Cox, CIO of Morley Fund Management said: "Wenow have the team firing on all cylinders to build a world-classequity operation and deliver investment returns for our clients.All the individuals joining Morley bring great depth of experience,and are as passionate about the investment business as we are."


For further information please contact:
Monina Villaroman, corporate communications 020 7809 8618
Morley Fund Management

Notes to editors:

Morley’s UK core team members

Mervyn Douglas - fund manager - Joined Morley in 2002

  • With Profits Balanced Growth Fund
  • Norwich UK Equity Fund (retail)
  • Norwich UK Income & Growth Fund (retail)

Daniel Roberts - fund manager - Joined Morley in 2003

  • With-Profits Balanced Value Fund

David Shapiro - fund manager - Joined Morley in 2003

  • Unit-Linked Life Value Fund

Martin Cawthorne - fund manager - Joined Morley in2004

  • Strategic Partnership Funds (eg RBS)
  • Morley UK Equity Pooled Pension Fund

Lloyd Whitworth - fund manager - Joined Morley in2004

  • Unit-Linked Life Growth Fund

Morley’s specialist & smaller companies teammembers

David Lis – fund manager - Joined Morley in1997

  • With Profit High Performance Growth Fund
  • Morley UK Focus Fund (retail)
  • Norwich UK Growth Fund (retail)

Scott McKenzie – fund manager - Joined Morley in1999

  • With Profits Special Situation Fund
  • Norwich UK Equity Income (retail)

Ruy Alves - fund manager - Joined Morley in 2003

  • Unit-Linked Life Small Cap Fund

Alex Pedder - fund manager - Joined Morley in 2001

  • With Profits Small Cap
  • Fund

Toby Belsom - fund manager - Joined Morley in 2000

  • Morley Pooled Pension Life Small Cap Fund

Robin West – fund manager - Joined Morley in2004

  • Norwich UK Smaller Companies Fund (retail)

Morley Fund Management

  • Morley Fund Management (‘Morley’) is anindependently managed, London-based, asset management businesswith over £111 billion* under management (as at 31 March 2004). Itactively manages a diverse range of asset classes and employs inthe region of 900 staff worldwide based in London, Singapore andan associate office in Boston**
  • Morley is a wholly owned subsidiary of the Aviva 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 by Norwich Union, andinternational funds marketed under the Aviva Funds brand.

*Not including mortgage assets
**Morley Fund Management International Limited, an Avivacompany


  • Pensions Management Provider Awards 2003 – Best PropertyFund Manager
  • Fund Manager of the Year - Pensions Week Awards 2002
  • Specialist Manager of the Year - UK Pensions Awards 2002
  • Insurance Fund Manager of the Year (awarded to Norwich Union)- Standard and Poor’s 2002
  • Sustainable and Ethical Investment and Asset Management Award- Liveable City Awards 2002

Further information about Morley Fund Management can be found at

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