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Morley Fund Management, one of Europe’s largest propertyfund managers, has appointed Shari Davis as assistant fund managerto its expanding property multi-manager team. Shari will report tohead of institutional property funds, Phil Ellis and will work onall of Morley’s existing multi-manager and indirect propertyclient portfolios.

The multi-manager property team at Morley manages over £1billion of indirect property assets on behalf of pension funds andhas received strong flows of new business in the past year. InJuly, the team was awarded a £60 million mandate from theEnvironment Agency Active Pension Fund. This was the scheme’sfirst allocation to property.

Head of Institutional Property Funds Phil Ellis said:“Pension funds and consultants are increasingly recognisingthe benefits of investing in indirect property particularly throughmulti-manager mandates as it provides many clients with the bestroute to gain exposure to the commercial property market.

“We are delighted to welcome Shari to join the team atMorley. Her experience in strategic investment and property fundresearch will be an invaluable asset to us.”

Shari joins Morley from DTZ Investment Management where she was asenior investment strategist working in the investment managementteam for the last four years.

Shari began her career in Australia in 1994, advising theQueensland Government on their property portfolios. She then joinedAMP Henderson Global Investors in 1996 as property manager managingretail, office and industrial portfolios. In 2001, Shari moved tothe UK, briefly working for HSBC before joining DTZ.

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For further information please contact:
Monina Villaroman, Corporate Communications Manager 020 78098618

About Morley Fund Management

• Morley Fund Management (‘Morley’) is a Londonbased, asset management business with over £134 billion** undermanagement.
• The property team manages in excess of £17 billion of UK andEuropean property assets, making Morley the largest property fundmanager in Europe.
• Winners of the high profile Property Week Fund Manager of theYear Award 2004 and the UK Pensions Awards 2005 Property FundManager of the Year, the team consists of over 60 investmentprofessionals and manages a range of funds on behalf ofinstitutional, pension and retail clients.
• Morley has been at the forefront of innovation in propertyfund management and has launched a range of specialist sectorbased funds, including: Igloo Regeneration Fund, QuercusHealthcare Property, The Junction and The Mall.

**Not including mortgage assets, as at 30/06/05

Visit www.morleyproperty.com