E.On, the German energy company, has appointed Merrill Lynch Investment Managers to run a €50m ($54.6m) European equity mandate, shortly after E.On unified its company pension scheme.

MLIM's money will be invested in small cap stocks and will comprise a portion of E.On's €8bn Master KAG multimanager pension fund. The creation of the Master KAG provides a bundled pension service to E.On's members and unifies a number of previously separate company pension schemes.