MGM drops Morley from Property fund

The mutual will switch clients’ property portfolios to RREEF and Lothbury, ditching its exclusive arrangement with the Norwich Property trust run by Morley. MGM said the decision demonstrates its commitment to applying ‘Best of Breed’ principles to active fund manager selection. It is writing to IFAs giving a full explanation of its decision based on analysis of recent property investment performance and forecasts for the future. “The Norwich Property trust is obviously popular with retail clients, but our responsibility is to choose those active managers we believe will outperform in ...