UK – The FIA Foundation for the Automobile & Society (FIA), a UK registered charity dealing with road safety and environmental issues, has awarded a $100m (€114.4m) global equity mandate to Morley Fund Management, the London-based independent asset manager.
FIA has set Morley an objective to outperform the MSCI World Index over rolling three year periods following a thematic, low-turnover, growth-orientated investment strategy.
This is an institutional segregated mandate and will be managed by Michael Jennings who joined Morley last year.
Director general of FIA David Ward says they selected Morley as a result of its thematic low-turnover investment approach.
FIA says the money generated by the mandate will be used to fund future projects and cover administration costs.