UK- Barnett Waddingham, the actuarial consultancy and investment strategy provider, has announced a partnership under which it will promote SEI as its preferred provider of the manager of manager investment approach.

Barnett Waddingham will continue to offer the same range of funding and investment strategy services including active asset management selection for pension funds.

Colin Richardson, partner at Barnett Waddingham, said of the partnership: “our research suggests that the manager of manager approach has many attractions for our pension fund clients, particularly in the post-Myners environment

“We believe that when clients conduct reviews of their investment strategy arrangements, they should consider the merits of the manager of managers approach and we expect this style of investment management will become increasingly popular.

“Having thoroughly researched all the providers in the manager of manager’s market in the UK, SEI were selected as the preferred provider.”

The agreement means Barnett Waddingham will now be able to offer the manager of manager approach to its clients.

In a clear dig at those consultants who have entered the business, Kate Finch, institutional sales director at SEI, said of Barnett Waddingham: “unlike some consultants they have taken the decision to avoid the potential conflict of interest in the UK by outsourcing to an independent manager of managers rather than extending their business model to include it.”