Morley moves into external asset allocation market with first mandate win with Go Ahead

Article date: 17 January 2005

Morley Fund Management (Morley), a leading European fundmanager, has secured its first standalone asset allocation mandatefor a client outside the Aviva group. The mandate is for bothtactical and strategic asset allocation.

Go Ahead, a public transport company that provides bus, rail,parking and aviation services across the UK, has awarded Morley atactical asset allocation mandate with the objective of adding 1per cent per year to the total value of its pension fund.

In addition, Go Ahead has asked Morley to work in partnershipwith financial consultant Watson Wyatt to provide strategic assetallocation advice for the entire £200m portfolio.

Morley has worked with Go Ahead since April 2002, managing itssegregated bond mandate within its pension fund.

Adrian Jarvis, head of strategy, said: "This mandate isimportant for Morley because it extends our relationship with avalued client. It also signals to the market that, on the back ofour success with managing asset allocation within balanced funds,we are now in a position to convert the strength of our internalasset allocation modelling into demonstrable benefits for a broaderclient base."

Steve Cleal, head of balanced funds, added: "Go Ahead’spension fund trustees felt that they could do more to improve thereturns on their assets, and therefore came to us to discuss howthey could use our asset allocation expertise. By providingtactical asset allocation and strategic advice we’reconfident that we will improve the returns on Go Ahead’spension fund."

Morley has a successful track record of addingvalue through tactical asset allocation, having added value in eachof the 6 years they have been running it, with overall performancesignificantly ahead of client targets.

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For further information please contact:
Fiona Baker,Head of Corporate Communications 020 7809 8617
Laura Cook, Corporate Communications Executive 020 7809 8125
Morley Fund Management

Notes to Editors
Morley Fund Management

  • Morley Fund Management (‘Morley’) is anindependently managed, London based, asset management businesswith over £118 billion* under management (as at 30.09.04). Itactively manages a diverse range of asset classes and employsaround 200 investment professionals 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


  • 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 befound at

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