Morley teaming up with Morgan for admin service

Morley Fund Management is planning to establish an investment admin service with JP Morgan Investors Services over the next 12 months.

The companies are combining Morley&#39s admin operating platform with Morgan&#39s investment admin infrastructure.

The service will move through stages including the transfer of Morley employees and operational assets to Morgan, which will carry out the core functions of the investment activities, including fund accounting, securities admin, business analysis and client reporting.

Morley, which wants to concentrate on being a manufacturer and distributor of funds, says the move will deliver focus and a lower and more flexible cost base. The service will be offered to the wider market.

Morley chief executive Keith Jones says: “The reality of today&#39s market environment is that almost all fund managers have to take a long hard look at their businesses and embrace significant change. We believe we are leading the way.”

Morgan Europe business executive Ramy Bourgi says: “There has been a trend towards this type of arrangement. This service is designed to meet that need and, by using the expertise of Morley, bring the capability to the market quickly.”