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Morley forming small cap team

Morley Fund Management is forming a new UK specialist and small cap team responsible for high-risk/ return UK equity funds and small UK cap funds.

The team of five will manage more than £800m and will be looking to outperform the sector benchmark by 4 per cent a year.

The team, led by David Lis, who manages the Morley UK focus and Norwich UK growth funds, will focus on identifying emerging growth companies with potential to enter the FTSE 350.

It will invest in companies within a market capitalisation range of £20m£300m although it will also have responsibility for firms with a market cap of up to £500m.

Morley will be using the FTSE all-share small cap index as its performance benchmark for small cap businesses.

Lis will be joined by Alex Pedder and equity analysts Ruy Alves and Toby Belsom who are both transferring from Morley&#39s equity research team. Robin West, previously of Oriel Securities, will be joining the team as fund manager. West spent nine years at Invesco as a fund manager. He will run the Norwich UK smaller companies fund.

Lis says: “A core element of equity investment is the life cycle of companies – smaller companies achieving exponential growth to become bigger companies. Identifying these companies of the future can make an enormous difference to longterm fund performances.”


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