UK asset manager Morley Fund Management is opening a branch office in Germany to distribute its mutual funds to German investors.
Morley now has five distribution groups in Europe, with other offices located in London, Milan, Madrid and Warsaw.
According to Adam Lessing, head of European business development at Morley, the opening of a sales office in Germany is a natural development as well as a key milestone in Morley’s expansion plans in Europe.
“Germany is the second largest domestic market for mutual funds in Europe”, he comments. “There is significant demand for property and absolute return funds in this region. Morley’s size and market leading expertise in these areas makes Germany is a natural step for our European plans. We recognise that a permanent sales presence and focused commitment is needed to successfully penetrate this market. The understanding of local specificities and the ability to recruit talented people with local knowledge will be crucial to our success in this market.”
“This is an important development for Morley,” adds says James Tanner, managing director responsible for distribution and alternatives at Morley. “European mutual fund assets now total over €4.0 trillion and are forecast to increase. A German sales office accelerates the growth of our European business and complements our existing sales offices in the markets of Spain, Italy and Poland.”