UK - Multi-manager SEI has won its biggest pension fund mandate with an £117m global equities brief from The Diamond Trading Company.
SEI won the brief after facing a beauty parade made up of “single” traditional fund managers.
SEI institutional client service director Nigel Down said: “This appointment is very important not only because of its size, but also because SEI has shown it is able to compete against the biggest traditional names in the industry.
“DTC decided to appoint SEI because it found the solution compelling and the one most likely to meet its objectives.
“It was also impressed with SEI’s superior research, portfolio construction and risk monitoring process.”
The £300m scheme has refused to confirm reports that it has dropped Cazenove Fund Management, F&C Management and Merrill Lynch Investment Management as part of a major reshuffle of its managers and hired Western Asset Management in their place to run a fixed income brief.
The scheme was advised by Hymans Robertson.
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.