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.