Merrill Lynch Investment Managers has won five new UK clients for its stakeholder and defined contribution services.
The biggest of the wins were for electronics giant Marconi - which signed up for MLIM’s AVC service and will offer a range of unitised funds - and for household cleaner manufacturer Reckitt Benckiser which has taken on MLIM for its DC scheme.
Passenger ferry company Stena also signed up for a passive defined contribution service with a fully integrated service.
Head of MLIM's DC team, Sarah Aitken, said: “These companies have chosen MLIM for our combination of performance and service. It’s been a fantastic first half which we look to replicate by continuing our efforts on winning quality institutional clients.”
MLIM’s DC and AVC services currently have more than 300 institutional clients, representing over £2bn of assets under management.The two stakeholder wins were for waste management companySita and for health insurance providers WPA.
MLIM’s new stakeholder product offers member-focused investment options, guest manager funds from Threadneedle Pensions and Invesco member education and support services.
By David Rowley
The Pensions Regulator (TPR) has set out plans to use "new regulatory initiatives" with over 1,000 schemes as it aims to tighten its regulatory grip and boost member outcomes.
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
This week's top stories include an article on climate activists from Extinction Rebellion crashing the PLSA's local authority conference, and an in-depth piece on the Court of Appeal's ruling on the BIC UK Pension Scheme case.
Engagement in pensions is rising but there are still a number of barriers to overcome. Natanje Holt looks at the key issues that need to be tackled