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SEI gets IFA feedback on multi-manager fund plans

US fund management giant SEI Investments is looking to enter the UK retail market with a range of multi-manager products.

It flew several prominent UK IFAs out to its headquarters in Philadelphia last week to receive feedback on its plans. It also held an IFA conference in Londonto discuss its strategy.

SEI, which is better known for its institutional business, plans to run a range of balanced funds pooling the talents of fund managers across several European sectors.

Its chosen managers include firms such as SG Asset Management, Foreign & Colonial and Goldman Sachs Asset Management but the range lacks big UK retail names such as Jupiter, Gartmore, and Perpetual.

Hargreaves Lansdown Fund Managers managing director Spike Hughes says: “The problem is they are not known and they are not using the retail names we all know over here. But I think the reason IFAs will buy is because they will package the product as a wealth management service for high-net-worth clients.”

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