Poor timing impacts Morley funds

radar alert: Morley UK Focus/European Focus

The group's first two UK focus funds have failed to attract much attention from intermediaries despite solid performance since launch

Morley's timing for the launch of its two focused funds into the UK market may explain why they have yet to capture the imagination of intermediaries. Launched in November 2001 at the height of the bear market, Morley's UK and European focus funds have attracted just £20m each in assets under management in the subsequent three years. However, the funds, managed by David Lis and Gavin Corr respectively, have posted second-quartile performance in their respective sectors from the end of November 2001 to 30 August 2004. Over that period, Lis's UK Focus portfolio is ranked 88 out of 255 in ...