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SEI’s Addison: RDR set to create multi-manager shake-up

SEI’s head of asset management distribution for UK and Europe Kevin Addison says the “herd mentality” of UK funds of funds could come under pressure as transparency improves following the RDR and a fee-based advice framework focuses the minds of cost-conscious investors.

He says: “When investors start looking at these funds they might be surprised how similar in composition some of them are. There is something of a herd mentality in this market.”

Addison says the “somewhat saturated” market is now at risk of plateauing, resulting in investors choosing to move away from established star managers to peers with shorter track records.

Addison favours the global manager-of-manager approach, in which mandates are awarded to fund managers and blended into portfolios offering exposure to asset classes around the world.

This creates truer diversification, he argues, giving providers more control over underlying managers and mandates.

He says: “We invest in the best managers in any given area and ensure they manage mandates in line with our requirements. We do not just invest in off-the-shelf funds.”



RBS set to pay out £250m in bonuses

The Royal Bank of Scotland is set to pay out £250m in bonuses to staff at its investment banking arm this year. The FT reports the money will go into the division implicated in the Libor rigging scandal with RBS expected to face fines of around £500m in the coming weeks. Last year the state-owned […]

Alastair Conway to leave Cofunds

Cofunds head of sales and marketing Alastair Conway is leaving the platform after five years. Following his departure the firm will split its sales and marketing functions. Head of proposition Verona Smith will become director of marketing and head of investor and wealth distribution, while Andy Coleman will become director of investor and wealth distribution. […]

MPs slam funding for lending ‘bias’ toward mortgages

The Treasury select committee has hit out at the Funding for Lending Scheme for a “bias” towards mortgages rather than business lending. In the committee’s report on the chancellor’s Autumn Statement, published this week, MPs say they are concerned about reports that businesses are not benefiting from FLS. On the back of the scheme the […]

Parental leave and pensions

Fiona Hanrahan  – Senior Product Insight and Technical Support Analyst We are often asked how parental leave impacts workplace pension schemes in terms of funding in general, auto enrolment and salary exchange. This article will explain each of these. How does parental leave impact the funding of workplace pension schemes? A member of a defined […]


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