US fund manager SEI is awaiting regulatory approval to launch three multi-manager funds as part of i...
US fund manager SEI is awaiting regulatory approval to launch three multi-manager funds as part of its UK onshore range in addition to FSA approval to launch a range of 17 funds in Dublin, writes Dylan Emery.
The group plans to launch the ranges within the next month but delays in regulatory approval could set this back.
The three onshore funds, which will be constructed from a combination of the funds held in the offshore range, include growth, income and balanced portfolios. The 17 Dublin Oeic subfunds are based on the group's existing US multi-manager funds and will include portfolios based on geography and capitalisation, such as a US large cap fund, US Small cap portfolio, European equities, UK equities and US bond funds.
While not all the external managers within these portfolios have been finalised, three of the four managers that will be running the UK equity fund are Alliance Capital, Liontrust and SG Asset Management.
SEI is looking to expand its European presence with a series of products and services aimed at high net worth individuals.
Following the launch of its retail product, SEI is to expand its service for family offices and adviser networks through an online service and the addition of an alternative investment product, likely to be introduced by the end of the year.
John Kirk, vice president of the adviser network for SEI, said: 'The intent strategically is to replicate everything in the global operation that is successful when it applies and as long as regulation allows it.'
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