Mervyn Douglas has taken over from David Lis as lead fund manager of the Norwich Union UK equity fund at Morley Fund Management.
NU's UK equity fund holds between 50-60 stocks, says Douglas, of which 80% is in 'undervalued growth' stocks and around 20% in 'special situation' stocks.
This move will free Lis up to turn his attentions to managing the higher risk Norwich Union UK growth and Morley UK focus funds, says Alan Gadd, managing director of UK and European Retail at Morley Fund Management.IFAonline
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