UK – SEI Investments has won the £15m (€25m) specialist multi-asset mandate from Rockwood Specialties and has been selected to run Rockwood’s new defined contribution arrangement.
The fund will basically comprise UK equities and bonds, the proportions being undisclosed, to be administered by SEI’s specialist UK management teams.
Deloitte and Touche Investment Services, as advisers to Rockwood, designed the scheme and will recommend the asset allocation strategy that SEI should adopt in managing the new mandate. This will be based on the results of an asset liability model being undertaken by the advisers for Rockwood.
The new mandate brings the total of mandates won by SEI this year to four, representing over £100m.
Says Patrick Disney, head of UK institutional business development at SEI : “The success of manager of managers can be attributed to two main factors, firstly the desire to outsource fund management and secondly the Myners’ review, which has called into question the present system of decision making for pension funds.”