Morley Fund Management's G7 Fixed Income hedge fund, managed by Shahid Ikram, has returned a net 16.20% with a Sharpe Ratio of 4.96 in its first year.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
The Guernsey-domiciled USD 135.5million G7 Fixed Income Fund, which was launched on 1 February 2003, takes long and short positions in fixed income securities and their derivatives, investing primarily in those countries comprising the G7. It also has some emerging market and credit exposure.
Morley has one of the largest and most experienced fixed income teams in the UK, with a total of GBP 58.7 billion of funds under management (as at 31st December 2003). The fixed income team employs 47 investment professionals based in London, Singapore and an associate office in Boston, managing, amongst others, segregated and pooled pension funds as well as a number of high profile retail funds.
Managed by Shahid Ikram, Head of Aggressive Alpha and Hedge Funds at Morley, the G7 Fixed Income Fund aims to produce superior and robust risk return profiles by combining different investment opportunities (such as choice of markets, yield curves and stocks) within strict risk parameters.
Morley stated: "The resulting portfolio is largely independent of the direction of the market and has added value consistently over both market and business cycles."
Neil Smith, Head of Investment Trusts at Morley Fund Management, said: "We couldn't have asked for a better start to Morley's G7 Fixed Income Fund. It has demonstrated its ability to deliver exceptional performance in difficult market conditions."
Smith added: "We have already seen widespread interest from the institutional market for this product, with over USD 90 million of inflows in the last four months. With Shahid Ikram's performance record and robust investment process, we're confident that this Fund will continue to deliver superior returns for its investors."
The Morley G7 Fixed Income Fund features three Share Classes: US Dollar, Sterling and Euro. Minimum investment is USD 200 000 / GBP 150 000 / Euro 200 000.
Background Note: Morley Fund Management (Morley) is an independently managed, London based, asset management business with over GBP 111 billion under management (as at 31.12.03). It actively manages a diverse range of asset classes and employs in the region of 900 staff worldwide based in London, Singapore and an associate office in Boston**.
Morley is a wholly owned subsidiary of the Aviva Group and manages both institutional and retail funds under the Morley brand. It also acts as investment manager for a range of retail investment funds, marketed in the UK by Norwich Union, and international funds marketed under the Aviva Funds brand.