From September the Morley Fund Management brand will disappear. This follows the decision by its parent company, Aviva, to combine all its global asset management businesses into one single integrated unit, to be called Aviva Investors.
In addition to Morley, the new Aviva Investors will include three businesses from north America and one each from Australia, France, Ireland, Poland, Romania and Spain. Overall assets under management will be an initial £316 billion. Of this Morley runs £165 billion.
Morley is the sister company of Norwich Union, also part of the Aviva group. It manages 32 retail funds for the group, worth a collective £8.6 billion.
At present Morley-managed funds registered in the Luxembourg Sicav can only be purchased by British and European investors. In future they will be able also to buy funds managed by the other Aviva fund management business such as in Australia, France and America.
First to be rebranded will be the Morley Aviva Luxembourg Sicav range. In April it will be renamed the Aviva Investors Sicav, and three new funds will be added. These will invest in America, Australia and Ireland and be managed by the fund management groups in those countries. All three funds will be available to British retail investors.
Nick Alford, chief operating officer at Morley, has decided to leave the company.
Alain Dromer, global chief executive officer, will have oversight of the British region, with the London-based equity and fixed-income teams reporting directly to him.