Merrill Lynch Investment Managers
(MLIM) are working hard to dispel reports that they are losing mandates in the United Kingdom. This morning the investment management arm of Merrill Lynch announced a $114 million win of a mandate placed by mmO2 PLC
. mm02 is a telecommunications company.
The news came on the heels of MLIM's announcement that it will run a $667 million mandate for IMI PLC
, a British engineering firm. Both mandates are for stock management services.
The news comes as MLIM has been fighting negative reports about settlements with former clients of what was Mercury Investment Management. Merrill bought Mercury in the late nineties and operated funds with the Mercury brand until recently. It has since rebranded all of its investment management services under the MLIM brand.
Last week Reuters
reported that MLIM settled a suit J. Sainsbury's pension plan. MLIM also has reportedly settled suits brought by Unilever and AstraZeneca.
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