Man B&W Diesel Pension Plan, Stockport, England, hired SEI Investments as manager of managers to run the plans £50 million ($71.4 million) in total assets. The assets will be invested in equities, with 60% allocated to U.K. stocks and 40% in global ex-U.K. equities, said Alan Marsh, managing director at Man B&W Diesel.
Deloitte & Touche Investment Services advised.
Fremont Investment Advisors hired Lend Lease Rosen Real Estate Securities to subadvise its $21 million Fremont Real Estate Securities Fund, replacing Kensington Investment Group. Fremont made the move because it preferred Lend Lease Rosens emphasis on long-term large-cap REITs, said Allyn Hughes, Fremont spokesman. "Kensington had a small-cap focus in its top holdings, Mr. Hughes said.
John Kramer, president of Kensington, said: "We came to a mutual decision with Fremont about their dropping the fund. It allows us to focus on other funds were running and lets them pursue the direction they have chosen.