Morley moves US high-yield to Boston

Morley Fund Management has moved the management of the US high-yield bond element of its £122m Norwi...

Morley Fund Management has moved the management of the US high-yield bond element of its £122m Norwich Managed High Income fund to its fixed income team in Boston. Dan Fasciano, head of fixed income in Boston, will take over the £40m portfolio, which currently accounts for some 35% of the fund's overall assets. The US high-yield section is one of four sub-portfolios that make up the Managed High Income fund, run overall by Roger Webb. As well as being in charge of overall asset allocation, Webb runs a UK high-yield portfolio, which makes up 40% of the fund. Meanwhile, Andre Mazella and S...