MONEY MANAGEMENT

SEI hires Fiduciary Management as subadviser

SEI hired Fiduciary Management Associates as subadviser for its separately managed accounts platform, confirmed SEI spokeswoman Nicole Vattimo.

Fiduciary Management Associates will mange small-cap value and smidcap value strategies for SEI. It was added “in order to provide more options designed to meet clients' income needs,” Ms. Vattimo said in an e-mail. In addition to the separate account platform, Fiduciary Management Associates will also manage an undisclosed amount of assets in three SEI small-cap funds, Ms. Vattimo added.

SEI has $182 billion in assets under management.