MLIM sees European institutional outflows

Merrill Lynch Investment Managers saw outflows from its European institutional business in the fourth quarter, according to its parent company’s latest earnings report.

“Strong inflows in European retail and Japan offset outflows for the European institutional business during the fourth quarter,” said Merrill Lynch in its fourth-quarter and 2003 earnings statement.

It said that MLIM’s 2003 pre-tax earnings declined 11% to 284 million dollars

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