GLOBAL - SEI has said it received commitments for £4.8bn in new global institutional assets from 35 new clients in 2008.
SEI said the growth was driven by its fiduciary management offering - which allows schemes to delegate risk management, investment advice, implementation and oversight to one provider.
SEI executive vice-president and SEI institutional group head Edward Loughlin said: "Around the world, SEI's unique advice process and ability to accept responsibility for manager selection has further enforced the value proposition of a more integrated approach to the management of institutional assets.
"Organisations increasingly want a strategic partner who is accountable while relieving burden and expense."
SEI's new clients include Bpf Meubel (Netherlands); the Higgins Group Pension & Life Assurance Scheme (UK); Sasol North America (US); Berks County Employees' Retirement Fund (US); Futuregrowth Asset Management (South Africa); and St. Lawrence Cement (Canada)
SEI managing director of EMEA institutional business Patrick Disney said: "The growth of SEI's institutional business around the world reflects the growing popularity of fiduciary management as a new way to manage pension funds.
"The approach has been established in the Netherlands for some time and SEI is now a major player in the market. This is evidenced by both Meubel's decision to select SEI and the fact that we have been heavily involved in advising on the recent launch of a set of defined principles on fiduciary management published by the Dutch Fund and Asset Management Association (DUFAS) in association with the Dutch Association of Company Pension Funds (OPF).
"These principles, which provide clarity for pension funds on best practice around fiduciary management, may also have relevance in the UK where fiduciary management is now starting to make a significant impact."
He added: "The popularity of the approach in the UK has been further increased by the current turbulence in the markets as pension fund trustees reassess their existing models of decision making in favour of a more effective governance model which combines advice and implementation from one provider."
Asset managers failing to 'fulfil purpose'; Industry needs focus on systemic risk and a 'do no harm' Hippocratic Oath for practitioners
The asset management industry is failing to fulfil its purpose because of an overreliance on modern portfolio theory, which has not evolved to meet current challenges, latest research claims.
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.