Multimanager SEI and UK equity manager Liontrust have parted ways over the issue of performance fees...
Multimanager SEI and UK equity manager Liontrust have parted ways over the issue of performance fees. Last week, SEI said it would no longer use Liontrust as an underlying manager in its UK equity strategy. It stated at the time the Liontrust mandate had not underperformed its benchmark. In the past two years, Liontrust has gradually been moving towards a performance fee-related remuneration structure for the institutional mandates it runs. In 2000, when Liontrust started running money for SEI, the UK boutique had not switched across to this model. Investment Week understands the agre...
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