Morley says it wins Go Ahead asset allocation
UK – Morley Fund Management says it has been awarded tactical and strategic asset allocation briefs by transport firm Go Ahead.
Morley said it was its first standalone asset allocation mandate for a client outside parent group Aviva.
It said: “Go Ahead, a public transport company that provides bus, rail, parking and aviation services across the UK, has awarded Morley a tactical asset allocation mandate with the objective of adding one percent per year to the total value of its pension fund.
“In addition, Go Ahead has asked Morley to work in partnership with financial consultant Watson Wyatt to provide strategic asset allocation advice for the entire £200m portfolio.”
Morley has worked with Go Ahead since April 2002, managing its segregated bond mandate within its pension fund.
"Go Ahead's pension fund trustees felt that they could do more to improve the returns on their assets, and therefore came to us to discuss how they could use our asset allocation expertise,” said Steve Cleal, Morley’s head of balanced funds.
“By providing tactical asset allocation and strategic advice we're confident that we will improve the returns on Go Ahead's pension fund."