Aviva plc (“Aviva”) recently announced that its UK-based asset management business, Morley Fund Management (“Morley”), has agreed to acquire a 56% stake in hedge fund management company, ORN Capital, which will more than double Morley’s alternative funds under management to around US$1.1 billion.
ORN Capital was founded in 1999 by Harald Örneberg with funds under management in excess of US$600 million as at 1 April 2006.
Aviva is the world's fifth-largest insurance group and the largest insurance services provider in the UK. We are the leading provider of life and pension products in Europe and are actively growing our long-term savings businesses in Asian markets, Australia and the USA. Our main activities are long-term savings, fund management and general insurance.
We have premium income and investment sales of £41.5 billion and £377 billion of assets under management*. We have 59,000 employees serving more than 40 million customers.
Aviva
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Aviva is the world’s sixth largest insurance group based
on gross worldwide premiums and market capitalisation (at 31
December 2004), and is one of the leading providers of life and
pensions to Europe, with substantial positions in other markets
around the world.
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Aviva’s principal business activities are long-term
savings, fund management and general insurance, with worldwide
total sales of £35 billion and assets under management of £317
billion at 31 December 2005.
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The Aviva media centre at www.aviva.com/media includes images,
company and product information and a news release archive.
Morley
- Morley is the UK-based asset management business of Aviva plc.
+A2 Firms within the Morley group of companies manage £156.2 billion
from offices around the world as at 28 February 2006.
- Morley 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 under the Norwich
Union brand, and international funds marketed under the Aviva
Funds brand.
ORN Capital
- Based in London and headquartered in Bermuda, ORN Capital is
an alternative investment management firm founded in 1999. ORN
Capital has gross assets of £2.4 million and manages in excess of
US$600 million on behalf of a wide range of institutional
investors including foundations, pension funds, funds-of-funds,
private banks and family offices.
- The firm has grown steadily over the past seven years and
pursues a range of investment strategies including event,
distressed debt, debt equity, global resources and energy and
multi-strategy.
Morley Asset Management, Morley Fund Services, Ltd ORN Capital are part of Aviva plc
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