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
Guy Opperman has rejected calls to speed up changes to auto-enrolment (AE) despite increasing pressure to boost contribution rates and overall savings pots.
Pensions and Benefits UK 2019 is delighted to announce the launch of our programme for this year, celebrating 20 years of bringing you the latest updates on all things pensions and employee benefits. Register for your place today!
PP has compiled a list of what to watch out for over the coming months.
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