UK - Scandinavian Airline Systems has outsourced the entire management of its UK pension fund to SEI Investments Europe (SEI).
Under the agreement, SEI will manage the £27m multi asset mandate for the Nordic airline carrier using its multi manager approach.
Commenting on the decision to outsource, Marie Lunden, spokesperson, Scandinavian Airline Systems, commented: “We were impressed by the manager of managers approach to investment. The continuous monitoring and control of asset managers is an essential responsibility for pension funds and we believe that at present individual pension funds cannot match the strength and breadth of the monitoring and research capabilities of the manager of managers approach.”
Patrick Disney, head of SEI (Europe) Limited’s institutional business, said: “Scandinavian Airline Systems’ decision to outsource their entire UK pension fund to SEI is a clear endorsement of the strength of our manager research and monitoring process and provides further evidence of our expertise and strong reputation in the field of manager of managers. We look forward to working alongside SAS to meet the investment objectives of the scheme.”
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