Pharmaceutical manufacturer Meconic has appointed SEI Investments to be manager-of-managers for its £18m pension fund.
Meconic trustees chairman Peter Welch said: Having undertaken an extensive selection process of manager-of-manager providers we were impressed by SEI's demonstrable experience in pension fund management and its track record globally in this specialist area. SEI will be working closely with us in delivering a customised approach to the management of our pension fund assets.
SEI said that its solution included asset allocation, benchmarking, portfolio construction and manager hiring and monitoring.
The investment team at SEI will monitor the selected managers within the portfolio daily to ensure they perform in line with the objectives set by the directors of Meconic trustees, with an emphasis on consistent performance and risk management.
SEI UK managing director Patrick Disney said: SEI's offer in the UK is a unique programme for total pension plan management; a business proposition which integrates specialist portfolio management.
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