Morley Fund Management, the fund management arm of the Aviva insurance group, has secured its first stand-alone asset allocation mandate for a client outside the Aviva group. The mandate is for both tactical and strategic asset allocation.
Go Ahead, a UK transport company that provides bus, rail, parking and aviation services across the country, has awarded Morley a tactical asset allocation mandate with the objective of adding 1 per cent 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.