SEI Investments hired Nicholas-Applegate Capital Management to run $75 million in global emerging markets equities, said Christopher Vella, senior investment analyst.
Funding will come from new clients and rebalancing existing portfolios, Mr. Vella said. The asset manager now has $500 million in exposure to emerging markets, including Nicholas-Applegate and its four regional managers, Mr. Vella said. He added that it is targeting up to 20% of its emerging markets exposure through Nicholas Applegate.
