SEI adds absolute return funds to outsourcing solution

Outsourcing asset management group SEI has added absolute return capabilities to its seven-strong strategic portfolio suite.

The SEI strategic portfolios are a risk-profiled range with £78m in assets under management. The new portfolio of Ucits III absolute return funds includes long/short equity, market neutral equity, long/short credit and global macro mandates, and will be run by SEI’s alternative investment team, which manages $2bn. The strategies will be used to increase diversification and reduce risk, and will comprise up to 10% of the Conservative, Moderate, Core and Balanced portfolios within the strategic range. SEI says further absolute return strategies may be added in the future. “Absolut...