FSA approval for SEI

North American multi-manager business SEI has been given FSA approval and distributor status for three Dublin-based Oeic fund ranges with which it is to target the UK retail market. The three umbrellas have 17 sub-funds between them. SEI has already launched four UK-based unit trusts, Growth, Balanced, Income and Global Growth, which will invest in the sub-funds. SEI plans largely to develop its business through a limited number of top end intermediaries and discretionary managers. As from 19 November seven of the 17 sub-funds and three of the unit trusts, Growth, Income and Bal...