The Pension Fund of Anglo/Dutch consumer products giant Unilever quietly replaced the fund manager it hired to replace Merrill Lynch Investment Management (MLIM) earlier this year, it emerged in London’s High Court earlier, after two years of underperformance by the new firm.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


After ditching MLIM (formerly Mercury Asset Management) in 1998 amid allegations of negligence, Unilever hired JP Morgan Investment Management (now JP Morgan Fleming) to manage its £600m worth of pension-fund assets. This company was also ditched however when its performance disappointed the company.


Unilever is currently in court suing MLIM for £130m worth of damages it says resulted from the poor management of its fund over a long period.

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now