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Morley, one of the UK's largest fund managers, announces the appointment of Mirko Cardinale as strategic asset allocation specialist.  He was previously a senior economist with Watson Wyatt Worldwide.

Mirko joins Morley's newly created Capital Management Group, a team that analyses markets and a growing universe of asset classes to provide asset allocation services to clients. The Capital Management Group models the sustainable returns of both traditional and alternative assets based on a wide range of factors, such as yields and growth rates. It works over a variety of investment horizons, from six months through to 10 years.

Morley's interim chief investment officer Adrian Jarvis, said: "Asset allocation is becoming an increasingly important service offering for Morley and we're delighted to welcome someone of Mirko's calibre to the team. The most important investment decision our clients make is asset allocation - which asset classes, where and in what proportions - and we believe this is an area in which we can add considerable value, particularly as more alternative assets and investment approaches become available.

"Success for this team often means higher returns for clients, but also developing investment solutions tailored to meet client objectives and risk appetitive, using the full diversified range of asset classes to do so. With Mirko's arrival we will have added four very strong hires to an already successful team this year, and we intend to add more team members to help us take advantage of the opportunities this capability affords us," Mr Jarvis said.

Mirko will play a key role in the strategic asset allocation service for clients. He will be responsible for leading and presenting asset allocation studies and proposals to clients as well as further developing Morley's long-term analysis of all conventional and alternative asset classes.

As a senior research and investment consultant to institutional clients at Watson Wyatt Worldwide, Mirko led a research programme on the asset management of foundations and endowments and managed the growth of a dedicated back-office research team in Latin America from five to 35 people.

He previously worked in research manager and associate roles at Financial Times Business and The World Bank.

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For more information contact:
Corporate Communications
Telephone: 020 7809 8125

Notes to editors:

Morley
Morley is the UK-based asset management business of Aviva plc. Firms within the Morley group of companies manage £168bn (€250bn) from offices around the world as at 30 June 2007.  

Morley manages both institutional and retail funds. It also acts as investment manager for a range of retail investment funds, marketed in the UK under the Norwich Union brand and in Europe under the Morley name. The property team manages in excess of £32bn (€48bn) of UK and European property assets.

Awards

• Morley ranks no.1 fund manager in the Thomson Extel SRI Survey, 2007
• Property Manager of the Year, UK Pensions Awards 2007
• Morley's G7 Fund awarded Fixed Income Hedge Fund of the Year, Eurohedge Awards 2007
• Equity End User of the Year - Derivatives Week DEAL Awards 2006
• Property Fund Manager of the Year, Pensions Management Awards 2006
• Best Commitment to Raising Standards of Trustee Education, Engaged Investor Awards 2006
• Property Fund Manager of the Year, Property Week Awards 2006
• SRI Provider of the Year, Global Pensions 2006
• Central European Property Awards 2005 - Outstanding Company of the Year & Investor of the Year
• UK Pensions Awards 2005 - Property Manager of the Year
• Property Week Awards 2004 - Best Property Fund Manager

Aviva

• Aviva is the leading provider of life and pensions to Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2006.
• Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of £41.5 billion and assets under management of £364 billion at 31 December 2006.
• The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive.