UK - Heath Lambert Consulting has signed a distribution deal with SEI Investments to become its preferred manager-of-managers provider.
The consultant says the manager-of-managers approach offers many benefits to schemes, particularly in the post-Myners environment.
HLC chairman John Crisford said: “Having looked at what other providers in the manager-of-managers’ sector in the UK are able to offer, SEI was selected as our preferred provider. In our view, SEI is the best implementer of the manager-of-managers approach because of its independence, global reach, disciplined process and depth of research.”
SEI head of institutional distribution Alan Lauder said: “Establishing distribution relationships with consultants in the UK is a key part of SEI’s strategy and the link-up with HLC is the third institutional relationship established by SEI since launch in the UK in 2000.
“HLC has taken the decision to avoid the potential conflict of interest in the UK by outsourcing to an independent manager-of-managers, rather than extending its business model to include it.”
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers