Merrills reviews Isa and Pep strategy

Merrill Lynch Investment Managers and Schroders are looking at the feasibility of giving up being Pep and Isa plan managers. This would mean their funds could still be 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 has been in discussions with a number of supermarket groups on the possibility of moving its wrapped business across but said no decision has been made as yet. Both groups stressed that outsourcing their Isa and Pep book is only one of the various measures under cons...