SEI Investments has been awarded a $48m mandate from the pension fund of US-based aluminium producer BPU Reynolds.
SEI will provide 401(k) and defined benefit services to BPU, including investment management, recordkeeping, administration and education.
According to Edward Loughlin, president of asset management services at SEI, the company’s manager-of-managers approach could add value to BPU’s assets by providing a level of oversight and risk management focus. “SEI has experienced rapid growth in the defined benefit and defined contribution areas over the last 18 months,” he said. “The pensions marketplace is sending us a clear message that SEI's manager of managers investment process -powered by our advanced StyleScan technology - truly delivers in line with their business needs.” The pension fund’s assets include defined contribution $28m and defined benefit $20m.
By Janet Du Chenne
An analysis of IGC annual reports finds some lacking in information on value for money, costs and charges, and investment performance. James Phillips explores the findings
A new cost transparency solution is being developed for pension schemes by a financial services technology firm.
Supermarket giant Asda's plans to reform its pensions have been decried as "unfair, unreasonable and unnecessary" as the workers' union began talks with the employer.
The Pensions Administration Standards Association (PASA) has launched a checklist to help trustees with the rectification process for guaranteed minimum pensions (GMP).