UK - Morley Fund Management says it has been awarded a £50m (€72.6m) fixed income mandate and a £50m indirect property mandate by Kelda Group Pension Plan.

Kelda is a UK utilities firm whose main subsidiary is Yorkshire Water.

Morley said Mark Gull, corporate bond fund manager will be in charge of the fixed income mandate, which will be invested in corporate bonds and gilts.

The property mandate will be invested in indirect property via a multi-manager approach managed by Phil Ellis, head of institutional property funds.

“Winning these mandates is further recognition of the breadth and depth of Morley’s expertise in fixed income and property,” said Alistair Morrison, Morley’s managing director of institutional.

Terry Moorhouse, group pensions and benefits manager at Kelda, was unavailable for comment.

According to ‘International Pension Funds and their Advisors’, the fund’s capital value amounts to about €780m.

It also employs Deutsche Asset management and Legal & General Investment Management.

Morley said in a statement it manages over £15bn of UK and European property assets.

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