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Murphy takes reins as Lis quits retail sector

Morley fund manager Chris Murphy has taken over the Norwich Union UK growth fund from David Lis, who is giving up running retail money.

Lis will continue to run Aviva Life’s £1.3bn special situations institutional fund and a £450m focus fund for pooled and segregated pension fund clients.

Murphy will continue with the fund’s strategy of creating growth but will reduce its exposure to traditional growth sectors such as biotechnology.

The fund will have a mid-cap bias and focus on cashflow and value creation to deliver stock performance.

Morley fund manager Richard Colwell will take on Murphy’s previous mandate, the Norwich income and growth fund, focusing on a more concentrated portfolio of stocks with greater exposure to the FTSE 250. He will look for potential investments that mirror the private equity investor seeking value creation.

Hargreaves Lansdown senior investment adviser Ben Yearsley says: “They have obviously been trying to strengthen their UK equities team for about last six months to a year after many years of pretty poor performance. Even with the new guys coming in, I think they probably have still not yet done enough. The jury is probably still out at the present time.”


Price divas in with business website for women

Fiona Price is returning to the market with the launch of Diva-Biz, a mentoring and leadership forum for professional women.The website, which opens for business on September 5, will feature interviews with female business leaders, academics and authors who have written about women’s enterprise and answer “all those questions you have wondered about but daren’t […]

FSA teams up with Police Mutual on financial capability

The FSA has joined forces with the Police Mutual Assurance Society to deliver the FSA’s financial capability material to the Police Service.Police Mutual Assurance Society claims it is the first financial services firm to have adopted the financial capability material within its own distribution model, rather than using the FSA’s pool of volunteer presenters.The incorporated […]

Mispricing landed IFAs with bigger bill

The “Lautro 12” endowment mispricing debacle has resulted in many IFAs paying out too much compensation for mortgage endowment complaints, raising the possibility of financial redress for advisers, according to legal experts.Earlier this month, Money Marketing revealed that the Information Commissioner has told the FSA to reveal the names of the 12 endowment providers it […]

IHT: What were you doing in 2009?

One of the best sources of new business is your existing clients and, if they are estate planning clients, regular reviews are needed because people’s inheritance tax (IHT) problems tend to only get worse. Now, not a lot of things remain at the same rate as in 2009. If we turn the clock back, it […]


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