UK – William Hill pension scheme has dropped Merrill Lynch as an asset manager in a switch to specialist managers.

The 95 million pound (136 million euro) scheme of betting firm William Hill has decided to replace Merrill Lynch’s balanced mandate with two specialist mandates following a full review.

Threadneedle Asset Management has been appointed to manage a 24 million pound UK equity mandate, and Barclays Global Investors has been appointed to manage a 15 million pound overseas equity mandate.

The remainder of the fund is being managed on a passive basis.

Last week saw Merrill Lynch Investment Managers lose its 300 million pound (441 million euro) balanced mandate for Fife Council Superannuation Fund in Scotland as a result of a move away from a wholly-balanced strategy.

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