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
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.