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Morley poaches Henderson ethical investment specialists

CGNU&#39s investment arm, Morley Fund Management has poached seven ethical investment specialists from Henderson Investors.

Clare Brook is to lead the Morley team, the position she held with Henderson. She will be joined by another fund manager Linnet Cotterill, an assistant fund manager Peter Michaelis, three research analysts, Fiona Cuthbert, Jo Johnston and Toby Belsom and Paul Moody, who will head the team&#39s business development.

The move is seen as a sign of increasing competition in the growing market, only a month after Government regulations came into effect obliging pension funds to state whether they have a socially responsible investment policy.

Morley currently only runs one ethical fund now, the UK Ethical Fund, but it hopes to establish a series of SRI funds in coming months.

Henderson is seen as being one of the leaders of ethical investment in the UK, with £1bn invested in SRI. The market leader in this area is Friends Ivory & Sime, which manages Friends Provident&#39s £15bn of stewardship funds.

Morley managing director Keith Jones says: “This considerable entrance into the SRI market reflects Morley&#39s substantials ambition and commitment to building the business.”

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