Morley to move into European property

Article date: 19 August 2004

Morley Fund Management, one of the UK’s largest fundmanagers, has appointed Ben Stirling to head up its move intoEuropean Property. Ben’s objective will be to roll outMorley’s successful UK property fund management business intocontinental Europe.

Ben is currently a fund manager within Morley Property’sexternal funds team. This team has been at the forefront ofestablishing indirect property investment vehicles in the UK,teaming up with specialist asset management partners includingCapital & Regional, Ashtenne and Chelsfield. In his new role,Ben will be seeking to identify suitable partners acrosscontinental Europe in order to replicate the successful model thathas been established in the UK.

Alongside this move is the decision of Morley’s majorclient to invest up to £1 billion into continental Europeanproperty. For asset allocation decisions, continental Europeanproperty will be treated as a distinct asset class from UKproperty.

Commenting on the decision, Ian Womack, managing director,property at Morley Fund Management, said: "We are delighted to takethis opportunity to expand our business into continental Europe. Wepride ourselves on making partnerships work, combining our fundmanagement expertise with the skills and experience of specialistasset managers to deliver exceptional returns for our clients. Benhas experience of investing in continental Europe, as well asmanaging one of our indirect investment vehicles, and I know hewill be successful in building our European business."

Ben Stirling said: "I am looking forward to building MorleyProperty’s presence in continental Europe. We will beprincipally partner led, however we are prioritising what weconsider to be the more attractive property markets in the region.France is a key focus for us due to its size and liquidity. We arealso seeking to identify opportunities in Southern and CentralEurope where returns are relatively attractive."


For further information please contact:
Fiona Baker,Head of Corporate Communications 020 7809 8617
Morley Fund Management 07736 883 832

Notes to Editors
Morley Fund Management

  • Morley Fund Management (‘Morley’) is anindependently managed, London based, asset management businesswith over £114 billion* under management (as at 30.06.04). 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

Morley Property

  • The property team at Morley manages in excess of £12 billionof UK Property assets (as at 30.06.04), making Morley one of thelargest property fund managers in the UK. Winners of the highprofile Property Week Fund Manager of the Year Award 2004, theteam consists of 50 investment professionals and manages a rangeof funds, including segregated and pooled pensions as well as 2retail unit trusts. The funds range across standard and nonstandard property investments and include, amongst others, aregeneration fund and a PFI fund. Morley has been at the forefrontof innovation in property fund management and has launched tenspecialist sector based funds with partners, including thefollowing Jersey-based Unit Trusts: Ashtenne Industrial Fund,Quercus Healthcare Property, The Junction and The Mall


  • Property Week Awards 2004 – Best Property FundManager
  • 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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