In 2001, Unilever Pension Fund Sues Merrill Lynch for losses of 130 million pounds. During the period from 1977 to 1998, Unilever fund much worse standard, and its trustees argued that the poor returns due to negligence on the part of the fund manager, Mercury Asset Management (which later became Merrill Lynch). In response, Merrill / Mercury argued that, even though they may have made some poor judgments, they have not been negligent, and abnormal conditions of the market was the cause unsatisfactory. The trial was to have consequences for the industry pensions. "Hide
by Andre F. Perold, Joshua Musher, Robert Alloway Source: Harvard Business School 22 pages. Publication Date: July 8, 2002. Prod. #: 203034-PDF-ENG
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