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.
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