Merrills reviews Isa and Pep strategy

Merrill Lynch Investment Managers and Schroders were looking at the feasibility of giving up being P...

Merrill Lynch Investment Managers and Schroders were looking at the feasibility of giving up being Pep- and Isa-plan managers. This would have meant their funds could still have been put into an Isa or Pep but the wrapper would be provided by a third party, probably a funds supermarket such as Cofunds or Skandia. Merrills confirmed it had been in discussions with a number of supermarket groups on the possibility of moving its wrapped business across but said no decision had been made as yet.