Merrill Lynch and Schroder lose out at Bradford & Bingley

The £255m Bradford & Bingley Staff Pension Scheme has dropped Merrill Lynch Investment Managers, Schroder Investment Management and Phillips & Drew as its active managers.

Phillips & Drew (P&D) lost its active, global equities and bond mandate, but retained an interest in the scheme, with the award of a £70m index tracking portfolio.

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