US multi manager firm SEI Investments, which is planning to set up offices in the UK in its efforts to expand into Europe, has formed an agreement with Italian life insurance company, Mediolanum, to manage a new family of multi manager funds.

The Mediolanum Top Manager's Funds will be domiciled in Dublin and are due for launch this month and in February. SEI who will be managing the funds, currently manages and administers approximately $170bn in multi manager assets. Mediolanum will be responsible for the distribution of the products to existing life insurance and fund clients as well as targeting new clients.