The final nail has been hammered into the coffin of the UK's £2.5bn Marconi pension scheme in-house fund management team with the appointment of Merrill Lynch Investment Managers to manage its £800m UK equity portfolio.
The Marconi pension scheme– which is called the GEC 1972 Plan and is a defined benefit scheme with over 43,000 active members– had been managing 70pc of its funds internally. However the appoint...
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