group unveils incentive scheme aimed at improving outperformance of managers
Merrill Lynch Investment Managers (MLIM) has introduced a remuneration system for fund managers designed to boost incentives to deliver outperformance. The scheme calculates annual bonuses according to assets under management, relative fund performance and value generated for MLIM. While basic salaries have remained in place, more than 50% of fund managers' income typically comes from annual bonuses. MLIM head of equity product for MLIM EMEA Pacific, Charles Prideaux, said the most important part of the new scheme is that bonuses are linked to outperformance over one, three and ...
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