UK - Alfred McAlpine pension plan has awarded SEI Investments Europe a £45.6m global developed markets equity mandate following a review of its investment strategy.
Global Pensions understands the brief is a new portfolio created on the back of a wider restructuring by the pension scheme of the building, facilities management and infrastructure services company.
“When reviewing our investment strategy we decided to place our overseas portfolio with a manager of managers fund because we believe that this optimises return and minimises risk,” said Gordon Beaumont, trustee at Alfred McAlpine.
“We selected SEI on the strength of its manager monitoring and research capabilities and its commitment to continually looking for innovative ways to meet the needs of clients.”
A spokesperson for Alfred McAlpine refused to comment further.
Kate Finch, sales director at SEI, described the manager of managers approach was a “risk-effective way of implementing an investment strategy”.
“SEI is focussed on offering clients a disciplined, diversified investment solution using managers selected from the best available and we look forward to working with Alfred McAlpine in the achievement of their objective.”
Mercer Investment Consulting advised the scheme in its search.
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