Outboard Marine Corp., Waukegan, Ill., terminated its defined benefit managers and moved the assets to a fund-of-funds managed by SEI Investments, according to sources familiar with the funds operations. Company Treasurer Eric Martinez was unavailable for comment. Outboards defined benefit assets total a little more than $400 million, according to the Money Market Directory. The pension fund employed seven money managers, according to MMD.
The company reportedly terminated its managers in early September, according to sources. They were: Driehaus Capital Management, Independence Investment Associates, Kennedy Capital, Morgan Stanley Asset Management, Mutual Benefit Life, The Principal and Standish, Ayer & Wood.