UK - Peter Stanyer admitted in the High Court on Thursday that Mercury Asset Management discussed in early 1996 whether a client may "seek compensation" if it underperformed and active risk figures in the portfolio were shown to have broken agreed boundaries.
The head of performance and risk management team at Merrill Lynch Investment Managers raised the issue in a note dated March 1, 1996 when an unnamed UK pension food was negotiating with Mercury abo...
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