I can confirm however, that, as a result of this agreement, we will be resuming our business relationship with MLIM.
Neither Co-op or MLIM would disclose how much of the fund Merrill will manage following yesterday's settlement but it is likely to be much less than the pounds 500m it managed previously.
In December MLIM reached an out of court settlement with Unilever after the group accused it of mismanaging its pension fund.
1 billion pension fund invested with MLIM, revealed it is now considering its options.
But despite the dispute, the super-market group said it would keep a proportion of its pension fund with MLIM
managed more than pounds 500million of the Co-op's pounds 2billion pension fund but this part of the fund has now been placed with Legal and General.
ran about pounds 500 million of the council's fund, totalling pounds 1.
managed more than pounds 500m of the Co-op's pounds 2bn pension fund but this part of the fund has now been placed with Legal and General.
Mr Sumption told Mr Justice Colman that under the terms of the agreement, Mercury Asset Management, now part of MLIM
, had to manage the fund reasonably to achieve certain investment objectives.