SEI cleans up with £55m Davis Service mandate
UK – Multi-manager outfit, SEI Investments, has won a £55m (€88m) global equity mandate from the Davis Service Group (DSG) Retirement Benefit Scheme, SEI’s fifth mandate win this year.
SEI says the mandate win comes as a result of the firm’s direct calling campaign initiated last year and a manager selection review undertaken by DSG.
Says Roger Dye, DSG finance director: “We were attracted by SEI’s manager-of-manager concept because it takes away the risk involved in choosing a single manager who may end up under-performing. We chose SEI because of their convincing process and their emphasis on investment research.”
The remainder of DSG’s £80m retirement benefit scheme, the £25m fixed income portfolio, will continue to be run by Barclays Global Investors on a passive basis.
DSG is active in laundry service, the hire of plant, tools and equipment and the manufacture of modular buildings.