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SEI hired as investment adviser
03 March 2014
Provides advice to Chartered Institute of Personnel and Development staff retirement scheme
Chartered Institute of Personnel and Development
The trustees of the Chartered Institute of Personnel and
Development's (CIPD) staff retirement scheme has appointed SEI
as investment adviser for the CIPD's the £29m defined
benefit pension scheme.
The trustees chose SEI after a competitive process involving
several providers. Peter Purdom, chairman of trustees at CIPD
staff retirement scheme, said: "We were initially looking to
appoint a traditional consultant. However, during the selection
process it became apparent that SEI's solution offers a greater
diversification of asset classes, investment styles, and
investment managers than would be possible using the more
traditional approach. Furthermore, the trustees were attracted
by SEI's ability to provide a fully bespoke service
encompassing investment strategy, implementation, and
SEI will provide strategic investment advice as well as full
implementation of a bespoke investment strategy to meet the
scheme's long-term objectives. SEI will also manage the
scheme's day-to-day investment strategy including selection and
replacement of managers, tactical asset allocation, changes to
strategy, funding level monitoring, and reporting.
David Hickey, director, European Advice for SEI's institutional
group, said: "We are delighted that the trustees of the CIPD
scheme have appointed SEI and look forward to partnering with
them in the months and years ahead. Our appointment by CIPD
underscores both our comprehensive advisory capabilities and
our ability to provide and implement fully bespoke solutions."
Patrick Disney, managing director of SEI's institutional group
for Emea, added: "It is a great start to the year and builds on
SEI's success in 2013, which marked our strongest year on
record in which we secured 11 new clients and more than
£1.04bn in new assets under management."
CIPD is the professional body
for human resources and people development.